Guyana celebrated a significant milestone in its path toward integrating into global trade by officially opening the World Trade Centre Georgetown (WTCG)—a groundbreaking initiative within the Caribbean Community (CARICOM) that positions the country as an emerging hub for international commerce and investment.
During the launch ceremony on High Street, Kingston, Georgetown, Finance Minister Dr. Ashni Singh described the establishment of the WTCG as a “timely and visionary step” that aligns perfectly with Guyana’s record-breaking economic growth and rapidly expanding international presence.
Dr. Singh urged local producers and entrepreneurs to capitalize on the great opportunities offered by the new trade hub. He highlighted that the Government considers trade a crucial factor for economic growth and national prosperity.
“I have said elsewhere that if you produce something in Guyana, it might be DDL (Demerara Distillers Limited). It might be that excellent Eldorado rum you sampled last few days that you’re here, or it might be agricultural produce or wood products. Whatever it might be, we have said repeatedly as a government that you must be able to load up your lorry and drive and take your goods to Suriname and Northern Brazil and indeed source raw material if you need too and move back and forth seamlessly.”said Dr. Singh.
Highlighting the importance of international trade, Dr. Singh emphasized that commerce remains key to Guyana’s long-term growth plan.
The importance of trade as a catalyst for sustained economic growth is something we as a government definitely recognize. In fact, quite the opposite. President Ali’s government believes that trade and opening up trade opportunities are central and essential for ensuring continued strong economic growth in the future.He added.
Connecting Guyana to the World
The WTCG marks a major achievement not just for Guyana but for the entire Caribbean region. As a member of the World Trade Centre Association (WTCA), the Georgetown Centre now connects local businesses to a global network of over 300 trade hubs across more than 90 countries.
This connection allows Guyanese entrepreneurs to access international markets directly, explore export opportunities, and gather global trade intelligence. So far, 16 Memoranda of Understanding (MOUs) have been signed with international trade centers to support training, knowledge sharing, and business matchmaking, paving the way for increased collaboration between Guyana, CARICOM, and international partners.
Dr. Singh noted that as Guyana’s economy keeps growing rapidly, local producers need to expand their operations to meet increasing domestic and international demand.
“If you look at the detailed tables and projects, you will see that the International Monetary Fund (IMF) continues to project Guyana as having some of the highest rates of economic growth worldwide and the highest in the Western Hemisphere… I am especially pleased that DDL has taken this step to bring the World Trade Centre brand and the World Trade Centre Association to Georgetown, and I trust that this facility will be used to its full potential to leverage the same trade advantages DDL has demonstrated over the years. I hope that the rest of the Guyanese economy will also leverage the vast potential of this facility to realize the trade opportunities that lie ahead”. The finance minister remarked.
Empowering Guyanese Businesses
Echoing similar sentiments, Komal Samaroo, Chairman of the Demerara Distillers Limited (DDL) Group, emphasized the Centre’s ability to empower local businesses to forge their own way in the international marketplace.
Today, I believe the importance of this center is greater than ever before because I believe that when the global system fails us, the need for stronger bilateral relations between countries and companies becomes essential. Businesses must chart their own course in building their markets, a process that requires knowledge, information, and partners, and I believe that will be the focus,” Komal Samaroo stated.
Vision for a Global Future
Earlier in July, President Dr. Irfaan Ali emphasized that the WTCG will serve as a key enabler for local businesses, providing them with the tools and networks needed to compete globally. The President highlighted that the Center reflects the private sector’s confidence in Guyana’s growing economy, mainly driven by the expanding oil and gas industry.
He also called for a modern approach to governance and business, urging both government institutions and companies to evolve in structure and mindset to remain agile and adaptable when faced with global opportunities and challenges.
A Modern Symbol of Progress
Strategically located on High Street, Georgetown, the World Trade Centre Georgetown showcases a modern multi-story design, featuring advanced technology, integrated security systems, and eco-friendly features. This contemporary building reflects Guyana’s ongoing development as a regional business hub, providing the infrastructure needed to support its expanding economy.
With the launch of the WTCG, Guyana has taken a bold step toward becoming a major player in global trade and investment, strengthening not only its economy but also its reputation as a forward-thinking nation ready to embrace the future.