GCCI inks pact with Canadian association to promote trade, investment

Keiran Hanley, NEIA Executive Director (left) and Deodat Indar, President of GCCI signing the MOU

A Memorandum of Understanding (MOU) was signed between the Georgetown Chamber of Commerce and Industry (GCCI) and the Newfoundland and Labrador Environmental Industry Association (NEIA), as part of efforts to deepen trade and investment ties between Guyana and Canada.

In a release, GCCI said the agreement is continuing a culture of cooperation and information sharing relating to investment, trade and economic opportunities between Guyana and Canada. The MOU was signed during a one-week fact-finding mission in St. Johns, Newfoundland and Labrador which saw the participation of a high-level private sector delegation from Guyana. The delegation was led by President of the GCCI, Mr. Deodat Indar, who was accompanied by Mr. Nicholas Boyer, Major General (ret’d) Norman McLean, Captain Gerry Gouveia Jr., Amber Low and Anand Harrilall, Trade Commissioner at the High Commission of Canada.

The MOU serves to provide a framework for understanding and cooperation between the GCCI and the NEIA for the achievement of their common goals, regarding the development of projects and trade in sectors related to clean technology, environment and the green economy. Under the agreement, both parties have vowed to cooperate for the development of partnership opportunities with respect to business arrangements such as joint ventures, general partnerships and limited liability partnerships; collaborate to facilitate investment opportunities, trade missions and business delegations between Guyana and Canada; and work together to organise meetings, seminars and similar activities for the purpose of sharing information and expertise. The signing of this MOU between the GCCI and the NEIA is the third in a series of MOUs recently signed by the GCCI.

During the one-week fact finding mission, the Guyanese private sector delegation participated in a number of meetings, round-table discussions and networking events with entities from the private sector, government departments, industry associations and educational institutions of the Newfoundland and Labrador province.
Discussions were held with government officials from the Departments of Tourism, Culture, Industry and Innovation and Natural Resources, and the St. John’s Board of Trade.

The Guyanese delegation then engaged representatives from a number of industry associations including the Newfoundland and Labrador Oil and Gas Industry Association, Newfoundland and Labrador Environmental Industries Association, Oceans Advance, Newfoundland and Labrador Association of Women Entrepreneurs, and Newfoundland and Labrador Association of Technology Industries.

The mission also entailed site visits and tours of the facilities of several companies that provide supplies and services to the oil and gas industry in St. Johns, including Blue Water Group (BWG), Cougar Helicopters, PAL Aerospace and A. Harvey & Co. Ltd. The Guyanese delegation held discussions with Allswater Marine Consultants, ExxonMobil Canada, McInnes Cooper, College of the North Atlantic, and Offshore Safety and Survival Centre (OSSC) as well.

The GCCI attaches great importance to the efforts made by the Canadian government to facilitate engagement between the Canadian and Guyanese private sector, and recognises that synergies with its Canadian counterparts are not only beneficial to its members, but also work to build the local economy through external partnerships.