Caricom’s 1st WTC to open in Guyana in February 2023

Preparations to establish a World Trade Centre (WTC) in Guyana – the first in the Caribbean Community (Caricom) region – are moving apace with the formal opening scheduled for February 2023.
This was revealed in a statement on Saturday from Demerara Distillers Limited (DDL), which had acquired the licence earlier this year to set up the facility in Georgetown.
During a recent weeklong visit to New York, a team from DDL led by its Executive Chairman Komal Samaroo had extensive discussions with officials from the World Trade Centres Association (WTCA) that focused primarily on the project. The WTCA officials included General Counsel James Perry, and Deputy General Counsel Clark Lackert.
The two teams met at the WTCA head office in New York City during which they had wide-ranging discussions on issues related to trademarks, geographic indication, market access, branding, global trade and investment policy, and strategies for advancing the interest of small enterprises to ensure their sustainability.
Chairman Samaroo used the opportunity to update the WTCA top officials on progress being made with the retrofitting of the building on High Street, Kingston in Georgetown, which will serve as the World Trade Centre, and with plans for the branding and utilisation of the seven-floor facility. Much of the discussion focused on the programmes which the World Trade Centre in Guyana will initiate and its collaboration with the more than 300 centres in more than 100 countries to promote prosperity through trade.
The WTCA officials also presented several gifts to the visiting delegation including the WTCA flag and commemorative coin.
With the World Trade Centre in Georgetown slated for opening in February next year, DDL disclosed that arrangements are also currently being put in place with several relevant agencies and organisations internationally whose work focuses on promoting trade among small and medium-sized enterprises.
Last week’s high-level meeting followed a conducted tour of the Freedom Towers which now house the World Trade Center, New York.
“The visit and discussions with the WTCA officials have given us a better idea of how we can best leverage the work of WTC Georgetown not only to expand the market for DDL’s products but to promote trade and help facilitate market access for products from Guyana, particularly through training and information sharing among small and medium-sized enterprises,” Samaroo indicated.
He added, “I am convinced of the tremendous benefit that a World Trade Centre in Guyana will offer the business community through its network of relationships with centres around the world. We are also looking at designating one floor of the facility as a tourist attraction, which will serve as a pleasant educational experience for both Guyanese and overseas visitors.”
During the visit to New York, the DDL team also held several media engagements and paid courtesy calls at the Guyana Permanent Mission to the United Nations and the Guyana Consulate.
After months of negotiations, DDL announced back in April that it had secured the licence to establish the WTC in the country.
The local beverage giant had revealed that it would be transforming its building in High Street into the WTC, which will provide a range of opportunities for local businesses and organisations to enhance their networking capabilities globally.
Since then, work had commenced on the interior redesign of the building.
At the ceremonial handing over of the licence in April, Samaroo pointed out that the World Trade Centre in Georgetown will not only provide a service to all of Guyana but will also lead the efforts of businesses in the country with potential international partners expanding trade and business relations around the world.
“Guyana is a small country with a population of less than a million at present, therefore any business operation that requires economy of scale to be competitive cannot rely on the domestic market only. It must be able to find markets in other countries around the world… It is my view that in the rapidly expanding economic space in Guyana, in the future the World Trade Centre can serve the nation and its businesses well in helping to realise its full potential while providing World Trade Centres around the world with access to potential partners and businesses in Guyana. The opportunities are indeed enormous, but today is the first step in the process,” the DDL Chairman had stated.
The WTCA stimulates trade and investment opportunities for commercial property developers, economic development agencies, and international businesses looking to connect globally and prosper locally.
There are over 320 World Trade Centres in more than 100 countries on every continent globally.
The Association serves as an “international ecosystem” of global connections, iconic properties, and integrated trade services under the umbrella of a prestigious brand.
The exclusive “World Trade Centre” and “WTC” branded properties and trade service organisations are supported by 15,000 WTC professionals that deliver integrated, reciprocal resources to meet the needs of small, medium, and large enterprises.