Guyana, Suriname Chambers sign MoU to boost trade and investment

L-R: Pradeep Bachan, Public Relations Officer of the Region 5 Chamber of Commerce and Industry, Jaichan Hemchan; Vice President of the Upper Corentyne Chamber of Commerce & Industry, Dr. Vishnu Doerga; Chair of Suriname Guyana Chamber of Commerce, Samantha Reid; President of the Berbice Chamber of Commerce and Development Association and Poonai Bhigroog; President of the Central Corentyne Chamber of Commerce

See below the statement issued by the Suriname Guyana Chamber of Commerce (SGCC):

The Suriname Guyana Chamber of Commerce (SGCC) is proud to announce the signing of a groundbreaking Memorandum of Understanding (MOU) with the Berbice Chamber of Commerce and Development Association, Central Corentyne Chamber of Commerce, Upper Corentyne Chamber of Commerce & Industry, and the Region 5 Chamber of Commerce and Industry.

This strategic alliance marks a significant step forward in strengthening trade relations and enhancing business opportunities between Guyana and Suriname. By fostering a cooperative network, the agreement aims to facilitate a more seamless flow of trade and investment, offering technical support and boosting regional and global business development through collaborative efforts.

The MOU was officially signed during a meeting held on May 3rd, 2024, at the Central Corentyne Chamber of Commerce office, where the Chairman of the Suriname Guyana Chamber of Commerce, Dr. Vishnu Doerga presented on the current labor situation in Guyana and discussed potential improvements. This was followed by a general discussion on how the chambers can better serve their members and increase membership, focusing on creating more value and support for businesses within the territories.

Additionally, in a significant move to connect Guyanese businesses with opportunities in Suriname, collaborations have been set up to include Guyanese enterprises in a trade mission to Suriname on June 5th – June 9th. This mission will feature targeted B2B meetings and a visit to the Suriname Energy Oil and Gas Summit (SEOGS), designed to foster direct connections and synergies between businesses across both countries.  The SGCC will also support the CCCC with encouraging Suriname companies to participate in the CCCC's October Berbice Expo. Attendance to the Berbice Expo will also be encouraged at the SGCC's October International Business Expo. 

The MOU signifies a commitment to:

•       Increased Trade and Business Relations: The Chambers will work together to promote multilateral trade, offer technical assistance, and encourage investment partnerships between Guyana and other territories.

•       Support for Businesses: The partnership focuses on creating networks to support, promote, and encourage businesses operating in Guyana.

•       Improved Trade Facilitation: Cooperation will enhance trade facilitation standards, procedures, and best practices for businesses in Guyana and collaborating territories.

Key Objectives of the MOU include:

•       Promoting multilateral trade liberalizations and technical assistance.

•       Encouraging investment partnerships across the cooperative territories.

•       Expanding the reach and penetration of Guyanese markets through improved trade facilitations and relations.

The MOU is designed to be adaptable, allowing for future adjustments to meet the changing needs of businesses and regions, fostering strong regional collaboration that will be key to driving economic development throughout Guyana and beyond.