DDL receives World Trade Center Association licence

…will facilitate int’l trade, develop small and medium enterprises – Min Walrond

Demerara Distillers Limited (DDL) on Tuesday received its licence to open a World Trade Center in Guyana from the New York-headquartered World Trade Center Association (WTCA), following several months of negotiations between DDL and WTCA.

This is the first World Trade Center (WTC) to be set up in the Caribbean Community (Caricom), and this new venture by DDL would provide a range of opportunities for local businesses and organisations to enhance their networking capabilities globally.
The World Trade Center Guyana office will be located in the DDL’s High Street, Kingston building.
During a historic virtual event, Tourism, Industry and Commerce Minister Oneidge Walrond said, “In bringing to Guyana the international brand that is the World Trade Center, DDL is yet again breaking new ground and forging new paths that blaze a trail for others here to follow. I have noted especially the role that the World Trade Center Association aims to play in facilitating international trade and in the development of small and medium enterprises.”

She added, “The World Trade Center is coming to one of the most promising economies in the world in partnership with a Guyanese company that is second to none, comparable with the best that may be encountered anywhere on the globe.”
Former Secretary-General of the Central American Integration System (SICA), Vinicio Cerezo, in extending congratulations to DDL, stated that Guyana, with its English roots, has always represented a special link with our neighbours in the north. “Also, by hosting the headquarters of Caricom, you are connecting Latin America with the Caribbean,” he said.
The meeting recently with SICA and Caricom was very important, showing that every day we have to work together and join forces on many multilateral and corporation issues,” he added.
Further, he stated that establishing a World Trade Center in Georgetown would create a platform to enhance relationships through the Private Sector, especially empowering the small and medium-size businesses that would have a positive impact both in Guyana and the region.
Meanwhile, DDL Chairman Komal Samaroo, in his acceptance of the WTC licence, related that the establishment of the World Trade Center in Guyana would provide a service to all of Guyana. It would link the efforts of businesses in the country with potential international partners, expanding trade and business relations across the world.
“Guyana is a small country with a population of less than a million at the present time. Therefore, any business operation that requires economies 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,” Samaroo explained.
Samaroo believes that, in the rapidly expanding economic space in Guyana in the future, the World Trade Center can serve the nation and its businesses well in helping to realise its full potential, while providing World Trade Centers around the world with access to potential partners in Guyana.
There are over 320 World Trade Centers in more than 100 countries on every continent globally. The World Trade Centers Association (WTCA) stimulates trade and investment opportunities for commercial property developers, economic development agencies, and international businesses looking to connect globally and prosper locally.
The association serves as an ‘international ecosystem’ of global connections, iconic properties, and integrated trade services under the umbrella of a prestigious brand.
The virtual ceremony was also attended by Georgetown Mayor Ubraj Narine and WTCA Chairman John Drew.