Barbados is hoping to increase its trade relations with Guyana as a 10-member trade mission opens a two-day visit here Monday.
Over the past five years, Barbados has exported an average US$23 million to Guyana annually, while Guyana’s exports are estimated at US$13.7 million.
“It is hoped that useful networks will be forged, excellent working relationships will be borne and the foundation for new trade will be laid,” the Barbados Investment & Development Corporation’s (BIDC) said in a statement.
It said that the manufacturers and service companies in the mission are recent graduates of the BIDC Export Readiness Training Programme, an initiative designed to equip new and potential exporters with the knowledge, tools and strategies to successfully expand their businesses into new markets.
The companies are drawn from the food and beverage; information technology services building and construction; garments and fashion; footwear; media publishing and health and wellness sectors.
The BIDC said it has been working with Go-Invest in Guyana on the strength of a Memorandum of Understanding (MOU) between the two agencies, which speaks to the exploration of market opportunities, agency collaboration and exchange