Apex-Brazil meets with GCCI to discuss strengthening of trade partnership between Guyana and Brazil
With discussions on trade opportunities between Guyana and Brazil as well as potential areas of collaboration for skills exchange, the Brazilian Trade and Investment Promotion Agency (Apex-Brasil) met with Executive Members and Councillors of the Georgetown Chamber of Commerce and Industry (GCCI) on November 21.
Market Intelligence Analyst, Mr. Igor Gomes and Foreign Trade Analyst, Mr. Pedro Piá of Apex-Brazil, accompanied by the Commercial Specialist of the Trade and Investments Section of the Embassy of Brazil in Guyana, Ms. Terrianna Selby engaged Senior Vice President of the GCCI, Mrs. Kathy Smith; Executive Member and Councillor, Mr. Richard Rambarran; Councillor and Chairman of the Trade and Investment Committee, Mr. Devon Seeram, and Councillor, Mr. Rayad Boyce as they sought to gather information on the business culture in Guyana, logistics chains, regulatory environment, distribution networks, consumption patterns, and the perception of Guyanese consumers regarding Brazilian products.
The Brazilian team indicated that they intend to present the findings of their visit to resident companies in Brazil in order to raise awareness about the market and opportunities as well as the challenges. Ultimately, the goal is to help strengthen the bilateral trade relationship between Guyana and Brazil, while examining several industries in keeping with this agenda—equipment and machinery for the oil and gas and construction sectors, ceramic tiles, wooden furniture, and prepacked and processed food.
The GCCI officials provided the team with an overview of the Chamber, with insights into the committees and their functional roles. The Trade and Investment Committee Chairperson, Mr. Seeram took the opportunity to discuss the partial scope agreement between Guyana and Brazil, and the need to improve it, highlighting that in its current form, the framework is in favour of Brazil exporting to Guyana. “We are looking at ways in which we can operationalise that partial scope agreement, getting more benefits for Guyanese and Guyana’s manufacturers,” he stated. He noted that meeting the standards required by the Brazil market has been a challenge, adding that Guyana needs support to be able to produce at the scale and consistency needed to tap into the market.
Meanwhile, Mr. Rambarran stated that, “It is opportune to open these conversations on trade facilitation.” He pointed to products manufactured in Brazil which can benefit from the increased demand in Guyana due to the construction boom, including electrical parts and fixtures, as well and sanitary fixtures. He also noted that Brazil has one of the most advanced agricultural sectors in terms of mechanised operations, and advocated for skills exchange. “There are many areas of climate-resilient agriculture that Brazil has implemented that Guyana can benefit from,” posited. Similar sentiments were expressed by Mrs. Smith as it relates to the furniture industry as she pointed to the fact that Guyana has the raw materials needed and the benefits of local production. The two parties also discussed increasing awareness of the products that can be sourced in Brazil for the Guyana market and agreed to continue collaborating in the areas identified.
