Brazilian businesses are looking to Guyana as a possible gateway into the wider CARICOM market, as a delegation from Manaus and Boa Vista explores opportunities to expand trade with the country and the region.
The delegation, which included representatives of the Brazil-Guyana Chamber of Commerce in Boa Vista, recently met with the World Trade Centre Georgetown (WTC-Georgetown) to learn more about its work and the opportunities available through Guyana’s access to CARICOM.
The visitors were accompanied by a senior official from the Embassy of Brazil in Guyana and outlined their areas of interest during the meeting, identifying possible avenues for doing business in Guyana and the wider region.
WTC-Georgetown Executive Director Wesley Kirton said the visit was primarily fact-finding, but the discussions opened up possibilities that some of the companies had not initially considered.
“They seemed to have gotten a lot of new ideas and discovered a lot of new possibilities, which weren’t necessarily what they came to look for,” Kirton said.
He said Guyana’s access to the wider CARICOM market could make the country more attractive to Brazilian businesses, while discussions also looked at opportunities for Guyanese products to enter Brazil.
“Guyana alone as a market may be good, but if you were to extend that to the rest of CARICOM, you’re looking at a much bigger market size,” he said.
Transportation, however, remains a challenge to expanding trade between the two countries.
Kirton pointed to the lack of direct air connectivity between Guyana and much of Brazil, while noting that Jags Aviation is exploring the possibility of scheduled or charter flights between Boa Vista and Georgetown.
The Brazilian delegation has also been invited to participate in the WTC-Georgetown International Trade and Investment Conference, scheduled for October 19 to 23.
The visitors heard presentations from Miguel Benjamin of Jags Aviation and Professor Mark Kirton of the Institute for Border Studies and International Relations.
WTC-Georgetown is also using its international network to strengthen market research and provide businesses with information on the regulatory requirements for entering foreign markets, Kirton said.
