Jamaica partners with Guyana on trade mission

Jamaica partners with Guyana on trade mission

Tuesday, January 28, 2020

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GEORGETOWN, Guyana (CMC) — President of Jamaica Chamber of Commerce Lloyd Distant Jr has heralded Jamaica's successes while addressing the opening session of 'Doing Business in Guyana' in that CARICOM country.

Distant, who is part of an eight-person Jamaican “mini” trade mission now in Guyana for a five-day series of briefings by public sector entities, as well as business-to-business meetings with private sector leaders there, said as a country Jamaica has been used as a model by the International Monetary Fund, showcasing a country that moved from low growth to macroeconomic stability.

He said unemployment in Jamaica is at an all-time low, and there is a level of buoyancy, especially with the country's stock exchange being rated among the best in the world.

Listing Jamaica as “the most investable country since there is no restriction on foreign ownership as well as on the reparation of profits”, Distant also described Prime Minister Andrew Holness as a pro-investment leader.

“We have one of the most developed capital markets alongside an independent central bank,” he said, adding that Jamaican companies are looking for external investments.

The trade mission has seen the Jamaica Chamber of Commerce collaborating with its Guyana counterpart at the Georgetown Chamber of Commerce & Industry to arrange meetings with potential business partners.

The Jamaican team comprises representatives of enterprises engaged in the provision of ICT services, legal services (especially alternative dispute resolution), construction, training, back-office services, food retail, pharmaceuticals and skills certification.

Senior vice-president of the Guyana Chamber of Commerce and Industry Timothy Tucker said the trade mission will enable the business community to have an insight into available trade and investment opportunities in both countries.

“We are heartened to have the companies represented here from Jamaica and equally impressed at the diverse range of services that they have brought. Guyana's new status as an oil producing country will have significant impact on the region and as such we believe that this is a special opportune time to work together to further the Jamaica/Guyana economic partnership,” he said.

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