The Barbados Investment and Development Corporation (BIDC) in collaboration with the Guyana Office for Investment (GOINVEST), the investment and export promotion agency of Guyana, hosted a Business Forum on Thursday May 21, 2015 at the Bagnall’s Point Gallery, Pelican Craft Centre.
The forum was hosted as part of efforts to explore opportunities for foreign direct investment, joint ventures and the sourcing and supply of goods and services between the two countries. It coincides with the visit of a 30 member delegation form Guyana, who will be participating in BMEX 2015, May 22-25, 2015 at the Lloyd Erskine Sandiford Centre.
Key stakeholders in industry and business drawn from the public and private sectors, as well as representatives of the manufacturing, agriculture, general services and tourism sectors attended the forum. Officials from GOINVEST as well as Consul General of Barbados to Guyana, Mr. Michael Brotherson, also attendees, urging them to make the best use of agencies such as GOINVEST and the BIDC to enhance trade and investment relations.
BIDC CEO, Ms. Sonja Trotman, in addressing the delegates, pledged the BIDC’s commitment to assisting companies interested in doing Business in Barbados. While urging the Guyanese delegates to consider Barbados as both a market for the export of goods and services as well as a local for joint ventures, she called on local businesses to similarly consider resource rich Guyana not only as an export market but a primary source for raw materials imputs to production. Representatives of Invest Barbados, Mr. Franklyn Marshall and Mr. Adrian Sealy shared with the group, key aspects of doing business in Barbados.
The visiting delegation comprises companies drawn from the beverages, art and crafts, leather goods, wicker and wooden furniture, gold and silver Jewelry, garments, craft and confectionary sectors.
The BIDC’s facilitation role in this forum fulfills obligations outlined in the Memorandum of Understanding (MOU) signed between BIDC and GOINVEST in October 2014. The MOU is aimed at promoting commercial ties between the two countries, through the hosting of trade missions, in- market visits and consultations.