World Trade Center Georgetown to shape new economic culture in Guyana – Pres Ali

– says will equip local businesses for global competitiveness

President Dr Irfaan Ali on Friday evening commissioned the World Trade Center Georgetown (WTCG), which he says will play a pivotal role in equipping local businesses with the tools and networking opportunities needed to compete on the international stage.
Located on High Street in Georgetown, the WTCG – the first of its kind in the Caribbean Community (CARICOM) region – is a state-of-the-art multi-storey building that is outfitted with advanced technologies, integrated security systems and other environmentally friendly features – all aimed at providing a modern commercial space that is critically needed in Guyana’s rapidly growing economy.
Delivering the feature address at the commissioning ceremony, President Ali noted that such a building, with these and other globally recognised characteristics, signals to sophisticated international investors that Guyana is ready to play in any league.

“The World Trade Center Georgetown is a powerful example of private sector initiative aligned with national development… I look forward to the World Trade Center Georgetown helping to shape this new economic culture in our country; one that speaks the language of export readiness, trade facilitation and global competitiveness with the tools, networks and exposure needed to compete and win on the global stage,” he stated.
While this investment is reflective of the type of confidence that the Guyanese business community has in the country’s increasing economic growth – largely driven by its burgeoning oil and gas industry – the Head of State underscored the need to re-examine the way in which both companies and the government are traditionally structured and managed to ensure they are agile and flexible to embrace both the challenges and the opportunities that are heading this way.
“The type of opportunities that are coming our way are of a scale and magnitude that we need partnership, we need transfer of technology, we need integration of human capital, and we need efficiency of doing business. But we need it at a pace that we cannot wait to achieve, and the only way we can achieve that pace is by adopting the best international practices and principles… And that is why the World Trade Center and organisations like these, with the network they have, are so critical for this phase of transformation,” the president posited.
He further noted that this phase requires transformative thinking, with mindsets geared towards what is needed and what is required in such a transformative environment. This, Ali explained, is especially critical for small and medium-sized enterprises (SMEs) to build their competitiveness, meet the standards of the international market, get cheap capital, and access technology that will make their businesses viable – all of which are necessary to remain viable in today’s environment.
Already, the Guyana Government has touted the creation of a special investment vehicle to support these small and medium-sized enterprises, which will co-invest with them to bring down the cost of financing.
“The government will put in financing at 0% cost so that the capital market can reduce their interest rate and match that financing. It also reduces the risk of lending to SMEs, and with a reduction of risk comes a reduction of collateral requirement. So, all of this will come together to help our SMEs,” the Guyanese leader stated.
Moreover, President Ali went on to commend Demerara Distillers Limited (DDL) – the holder of the WTC license in Guyana – for having the foresight to secure this global trade platform to be set up here. He encouraged that the WTCG focus on reaping results from the opportunities that such a facility brings.
“This is not merely a real estate play; this is a development play, a nation-building play, a confidence play. This Center must now be animated not just by meetings and exhibitions but also by outcomes [and] results. Let it become the go-to destination for international trade missions. Let it host dialogues between local producers and global buyers. Let it inspire new standards in office infrastructure, business services and commercial culture…”
“It cannot be a one-off transaction that is going to make us successful. We have to understand how our culture, in our entities, our businesses and organisations, must be critically integrated with results. Let it inspire new standards. Let it incubate businesses and business opportunities. Let it be a Center of training, facilitating and empowering not just top corporations but small businesses – owners trying to take their first steps into export markets. Let it help Guyana pivot from a resource-based economy to the knowledge-driven, globally integrated one. Let the WTC Georgetown act as a matchmaker, connecting Guyanese food producers with international distributors, buyers and chefs,” he asserted.
Chairman of DDL, Komal Samaroo, disclosed during his remarks that since acquiring the licence for WTCG in March 2022, extensive work has been done to promote Guyana and the investment opportunities here at major forums across the world.
In fact, WTCG has since signed Memorandums of Understanding (MoU) with several sister centres in Panama, India and the United States for collaboration in areas such as information exchange, regulation and market access, business training and exchange of trade missions.
Under this partnership with WTC Miami, three major Guyanese manufacturers were given the opportunity to participate in the American Food and Beverage Show.
Additionally, Samaroo noted that WTCG has also been working with Guyana’s diplomatic missions in Asia, Africa and Latin America to open up new markets for local products.
“[Now that] this building is complete and commissioned, and the WTCG is fully operational, we’re going to be actively involved in bringing opportunities to the businesses in Guyana, particularly in the small, medium and micro business sectors,” Samaroo declared.