Guyana-UK trade hits £6B in 5 years – Finance Minister

…tells British business leaders Guyana open for business

Guyana’s trade relationship with the United Kingdom has expanded significantly alongside the country’s economic growth, with bilateral trade reaching approximately £6 billion over the past five years, Dr Ashni Singh, Senior Minister in the Office of the President with Responsibility for Finance has disclosed.
Singh made the disclosure Thursday while addressing Guyanese and British business leaders at a business engagement held at Jewelz by King’s Hotel on Waterloo Street, Georgetown, as part of the State Visit of His Majesty, King Charles III.

The Minister used the forum to encourage greater British investment in Guyana, declaring that the country was open for business, and welcoming more UK companies to explore opportunities in its expanding economy.
According to Singh, trade between the two countries grew from approximately £350 million in 2021 to about £1.7 billion last year. Guyana has since become the United Kingdom’s largest trading partner in the Commonwealth Caribbean, accounting for almost half of its trade with the region.
Singh also pointed to the growing involvement of UK Export Finance (UKEF) in Guyana, noting that the agency had increased its country financing ceiling several times over the past five years.
The ceiling rose from £750 million in 2021 to £2.1 billion in 2024, then to £3 billion in October 2025 and currently stands at £3.5 billion.
He said the financing facility is available to both the Guyanese Government and Private Sector importers through direct lending or guarantees to support borrowing.
The Minister also highlighted UKEF’s financing arrangements, which allow support for up to 100 per cent of a project’s value, subject to a minimum British content requirement of 20 per cent.
Singh further noted that Guyana’s recent upgrade in its Organisation for Economic Co-operation and Development (OECD) country risk classification from Category 5 to Category 4 was another indication of growing confidence in the country’s economy.
The upgrade, which came less than two weeks ago, was Guyana’s second in four years and placed it in the same category as Brazil, Colombia, Panama and South Africa.
He explained that the improved classification would lower the risk premium on officially supported export credit for Guyanese transactions, making British goods and services financed through UKEF more competitive.

Projects upgrade, opportunities

Among the projects benefiting from UK financing is the construction of a new Arrivals terminal at the Cheddi Jagan International Airport, which is being supported through an Export Credit Guarantee for a €61.43 million loan from Santander Bank.
Singh said the upgraded airport facilities would contribute to improving the country’s tourism, trade and investment prospects.
He also identified the ongoing upgrade of the Guyana Fire Service’s equipment fleet as another project receiving UKEF support.
Beyond UKEF, he pointed to financing provided through the UK Caribbean Infrastructure Fund for the upgrade of the 121-kilometre all-weather road from Linden to Mabura Hill.
The road forms the first phase of the Linden-to-Lethem corridor, which the Minister described as an important trade route in northern South America.
Singh said the planned development would extend beyond Linden to the Berbice coastline, where a deep-water port and industrial complex are expected to be established using natural gas transported through the country’s second gas pipeline.
He said the developments would create opportunities for British companies in areas including engineering, construction, consultancy, operations and other support services.
The Minister also identified oil and gas, mining and other extractive industries; infrastructure; agriculture; aviation; tourism and services, as sectors with investment potential for British businesses.
He stressed that the opportunities were not limited to foreign companies operating independently, but also extended to partnerships with Guyanese businesses and nationals.
“I provide these only as examples of the vastness of opportunities that are available for British business in Guyana and in partnership with Guyanese companies and Guyanese nationals. And UKEF will undoubtedly be an integral part of the journey immediately ahead to ensure that these opportunities are realised. Guyana is open for business, and we want to see more British companies doing business in Guyana with Guyanese companies and Guyanese nationals,” he said.
The engagement brought together UK High Commissioner to Guyana, Joseph Fisher; His Majesty’s Trade Commissioner for Latin America and the Caribbean, Amy Barklam; UK Export Finance Chief Executive Officer Tim Reid, and representatives of the British and Guyanese Private Sectors.
Also in attendance were Chairman of the British Chamber of Commerce, Faizal Khan; Chairman of the Private Sector Commission, Gerry Gouveia Jr and President of the Georgetown Chamber of Commerce and Industry, Kathy Smith.
Singh said UKEF would continue to play an important role in facilitating investment and supporting projects as Guyana expands its economic relationship with the United Kingdom.