British Chamber of Commerce Guyana established to boost bilateral trade, investment

In a move aimed at enhancing bilateral trade and investment, the British Chamber of Commerce Guyana (BritCham Guyana) has been created to promote and facilitate commercial business opportunities between Guyana and the United Kingdom.
The establishment of BritCham Guyana was announced by British-born Guyanese businessman and Chief Executive Officer of Guysons K+B Industries Inc, Faizal Khan on the sidelines of the International Energy Conference 2023 at the Marriott Hotel in Georgetown on Thursday.
Alongside the promotion and facilitation of bilateral trade and commerce, BritCham Guyana will foster an open networking environment where companies can engage and discuss issues impacting their businesses and UK-Guyana trade, including events such as member meetings, business breakfasts, and seminars. Guyana is said to be the UK’s largest trading partner in the Caribbean.
During a press conference to announce the establishment of the Chamber of Commerce, Khan, who is also the Chairperson of the BritCham Guyana Steering Group, noted that this initiative has been the ambition of many stakeholders and had been in the works for a number of years.
“There’s been a lot of brainstorming around it for quite a while. And today, we’re very happy to announce that the entity is established… I think when we all came together at the High Commissioner’s residence and talked about the ease of business here in Guyana and helping British businesses get in, we felt there’s an opportunity to support and make that process easier,” Khan explained.
The businessman further stated that BritCham Guyana aims to become the trusted partner and platform for fostering business between the UK and Guyana, driving foreign direct investment into the Guyanese market, expanding horizons for Guyanese firms, and improving the ease of doing business for its members in both markets.
“Guyana and the UK have enjoyed a cordial, strong relationship for more than five decades, and the business community between the two nations is growing quickly as Guyana’s economy booms… There are already significant opportunities for companies in both markets, which we only expect to increase in the years to come. We encourage enterprises based in the UK to join BritCham Guyana so that we can help them understand, navigate and tap into Guyana’s rapidly-expanding economy. We also call on Guyanese businesses to sign up to explore opportunities in the large, diverse UK market and partnerships with UK companies and investors,” he implored.
Khan highlighted that BritCham Guyana would offer its members increased access to and knowledge of each market; investment opportunities; expert and technical skills; advisory services; a wide range of industry, policy and regulatory insights across sectors and competitive pricing.
Meanwhile, Director of Membership UK & International at the British Chambers of Commerce, Anne-Marie Martin lauded the creation of BritCham Guyana, noting that “…we look forward to working with the team”.
British High Commissioner to Guyana, Jane Miller highlighted the benefits that the organisation would bring to bilateral trade relations between the two nations.
“BritCham Guyana offers an opportunity to bring together a rich and diverse network of UK investors, exports, and services with strong governance, world-class standards, and experience that complement the ambitions of Guyana’s business community through long-term and sustainable partnerships,” the British envoy stated.
Currently, BritCham Guyana has close to 30 member companies, with some 50 verbal commitments.
BritCham Guyana will be officially launched in London, England, and Aberdeen, Scotland.
The Chamber will act as a support for other chambers of commerce that exist in the countries it operates in.
British and Guyanese companies are encouraged to sign up as members with BritCham Guyana to enjoy the full benefits of its support in exploring and accessing each market.
The independent, non-profit Chamber will serve as a leading promoter and enabler of trade and investment between the UK and Guyana, one of the world’s fastest-growing economies. BritCham Guyana will also work closely with the British High Commission in Georgetown and UK Government departments to support their advocacy work in Guyana.
In addition to being chaired by Khan, the new Chamber of Commerce will also be supported by a board of leading business executives with close ties to both countries. It will operate out of an office at Pegasus Suites and Corporate Centre in Georgetown.
It was reported that in 2021, Guyana accounted for 21.6 per cent of all the UK’s trade with the Caribbean, and, to date, there has been a 45.9 per cent increase in trade between the two nations for 2022. The move to establish the new business Chamber comes on the heels of the announcement of visa-free travel to the UK, direct British Airways flights from the end of March, and the signing of a partnership arrangement by Guyana’s Minister of Foreign Affairs and International Cooperation, Hugh Todd and His Majesty’s Trade Commissioner for Latin America and the Caribbean, Jonathan Knott, CMG in November 2022.
The Chamber said it will provide further information in due course regarding membership opportunities, governance, and upcoming launch events. Companies or individuals interested in joining the Chamber should visit britchamgy.com to download an application form and submit the completed form via email to [email protected].