Guyanese businesses urged to prepare for volatile global trading environment

Guyanese businesses were on Thursday urged to prepare for a more uncertain and competitive global trading environment as geopolitical tensions, economic shifts and technological changes continue to reshape international commerce. The call was made at ‘Global Trade 2026: Challenges and Opportunities’, a one-day luncheon forum hosted by the World Trade Centre Georgetown (WTCG), which brought together business leaders and trade professionals to examine emerging global trends and their implications for local enterprises. Chairman of the WTCG, Komal Samaroo, said the forum was convened at a critical moment for global commerce, noting that recent developments have made international trade increasingly unpredictable. “We thought that at this time of year, given all the developments in geopolitics and economics globally, we should get together to analyse some of these developments and see how best we might identify strategies to navigate this very uncertain period,” Samaroo said. He stressed that Guyanese businesses must look beyond the domestic market if they are to remain competitive, cautioning that entry into international markets requires significant preparation and adaptation.

“Transitioning from a domestic market to an international market requires a lot of adjustments, cultural and otherwise,” Samaroo said, adding that meeting global standards and building international competitiveness are critical for success. The forum was attended by business owners, senior executives, exporters, traders, professionals and representatives of trade-related organisations, reflecting strong private-sector interest in understanding the global forces shaping market access and growth opportunities for Guyanese enterprises. The keynote address was delivered virtually by former Bolivian President Jorge Quiroga, who congratulated Guyana on its recent economic performance and outlined four major forces shaping the region’s future: politics, economics, energy and technology. “When you talk to a country that is having a growth rate that is almost the same as my country’s inflation rate, I have nothing to say but kudos and congratulations,” Quiroga said, referencing Guyana’s economic growth. On technology and infrastructure, Quiroga warned that countries in the region must invest in local capacity to support emerging systems, including artificial intelligence (AI).

“If we move into a world where health services, education, financial services and judicial systems are using artificial intelligence, it is almost impossible to envision any country accepting that this processing happens somewhere else,” he said. “We are going to need localised data centres and AI centres.” Quiroga also cautioned against repeating traditional development models in resource-rich economies, arguing that countries must move beyond exporting raw commodities.
“It makes no sense to just export the commodity and then import the manufactured goods,” he said, urging regional economies to move up the value chain.

From a regional trade policy perspective, Wayne McCook, Assistant Secretary-General of CARICOM with responsibility for the Single Market and Economy, said recent global disruptions have exposed the fragility of long-standing trade arrangements. “Someone once likened trade to oxygen, without which economies and societies cannot function,” McCook said. “What 2025 has shown us is that trade cannot be taken for granted.” Looking ahead, McCook warned against expectations of a return to previous global trade norms, noting that increased tariffs, protectionist measures and supply chain disruptions signal deeper structural changes. “2026 will not be a reset year,” he said.
The forum highlighted the growing importance of preparedness, competitiveness and informed decision-making for Guyanese businesses, including micro, small and medium-sized enterprises and women-led enterprises, as Guyana continues to expand its role in regional and global trade.