REPUBLIC Bank’s first trade mission in Guyana has been hailed a success by participants who were provided an opportunity to explore corporate relationships and regional markets.

The mission was aimed at facilitating the meeting of the bank’s corporate and commercial customers from all jurisdictions, so as to establish relationships and foster trade, while opening new markets with the aim of increasing revenue.

“I think it is a very good idea, because I think it gives people the opportunity to see what is possible in Guyana. We go back with much more information than we came with, and in our opinion that is the most important (success), because (as a business) if you want to come here, you need to know something; and that was the goal we had, and that goal was achieved,” said Anthousa Lim A Po of Alupro, a Kiesel Company in Suriname.

Lim A Po was one of the 14 exhibitors and more than 200 delegates who participated in the two-day trade mission to Guyana — November 28-29, 2016. Themed “Building Strong & Sustainable Business Relationships across Borders”, the trade mission, organised by the Republic Group, was centred in Georgetown — at the Marriott Hotel, and focused primarily on synchronizing cross-border relationships among Guyana, Suriname, Barbados and Trinidad.

Managing Director of Republic Bank (Guyana) Limited, Richard Sammy, expressed appreciation to the participants of the forum, and noted their keenness to explore “Guyana’s rich possibilities”.

“It is this spirit of regional togetherness that brings us together even now, combining our unique talents for mutual benefit,” he declared.

Republic Bank’s Executive Director, Roopnarine Oumade Singh, spoke of the Bank’s focus. “Our vision at Republic Bank is to build successful societies. One of the means of accomplishing this is to leverage our significant customer base across the region and put customers in touch with each other, to form stable relationships within the commercial and corporate sectors. Our goal is to provide a seamless experience throughout the jurisdictions in which we operate. We assist and support our customers, doing business in their home territories, transacting across borders, and leveraging our far-reaching expertise to bring about results,” Singh explained.

The participants interacted with Guyana’s Minister of Business, Dominic Gaskin, who likened the need for partnership between private and public sectors and banks to marriage vows, stating that in good times and in bad, in sickness and in health, they must stick together in long-term partnership.

And sharing deep perspectives on doing business in Suriname were the Managing Director of the Bank’s Suriname subsidiary, Gloria Anthony; and Managing Director/Owner of FiscLe Consultancy N.V., Anouschka Nabibaks.

Taking a Guyanese market focus were Vishnu Doerga, President of the Georgetown Chamber of Commerce (GCCI); Senior Counsel Ralph Ramkarran; and Rakesh Latchana, Partner at Ram and Mc Rae, Chartered Accountants, all of whom gave eye-opening, honest and current information to the delegates on doing business in Guyana from general, legal and accounting perspectives.

Patrick Healy, CEO of VSH United, also presented a strong case for a synchronised customs environment. He also initiated the discussion on the Guyana/Suriname Common Market.

Spurred on by both the days’ presentations and Guyana’s budget announcements, delegates posed many questions, particularly during the panel discussions, which were led by Ernst and Young’s Gregory Hannays (day one) and Maria Daniel (day two).

The panellists included Richard Sammy, Managing Director of Republic Bank (Guyana) Limited; Bryan Renten, Director/CEO of Fernandes Bottling Company N.V., & Chairman of the Association of Business in Suriname; Owen Verwey, Chief Executive Officer of the Guyana Office for Investment; Stephen Grell, Manager of Corporate and Investment Banking at Republic Bank Limited; Jeff Simons, Country Manager (Guyana) of Esso Exploration & Production Guyana Limited; Nigel Hughes, partner in the law firm of Hughes, Fields & Stoby, Attorneys-at-Law, and Director of the Guyana Oil & Gas Association (GOGA); Shaun Rampersad, Chief Operations Officer of the Ramps Logistics in Trinidad; Derek Chin, CEO of Movietowne Limited in Trinidad, whose Guyana branch of Movietowne is expected to soon be completed; and Joseph Cox, Assistant Secretary General of Trade and Economic Integration at the CARICOM Secretariat.

Cox’s feature address on doing business in CARICOM followed an enlightening presentation by Guyana’s Minister of Public Infrastructure, David Patterson, while delegates gained succinct and worthwhile advice on the role of finance in cross-border transactions from another of Republic Bank’s Corporate and Investment Banking Managers — Ray Klein.

As the curtains came down on the two-day forum, Karen Yip Chuck, Republic Bank’s General Manager of Corporate and Investment Banking, reiterated the Bank’s purpose for hosting the event. “Our primary objective of this trade mission was to bring different business communities closer together, provide insight on the differing nuances; and, most of all, facilitate stronger networking ties with the intention of increasing trade amongst our customers, starting with those represented here.”

Chuck noted that while the event has been deemed a success by many, based on the high level of interest and participation from clients across the region, the Bank’s measurement of success results from the number of new cross-border relationships that were facilitated during the period.

“I think (that) based on the number of one-on-one meetings that I have observed, it is safe to say that this inaugural trade mission was a success,” she said, noting that it is the Bank’s intention to host more trade missions in other territories in the future.