– as local AmCham opens its doors

THE bilateral relationship between Guyana and the United States of America (USA), particularly in commerce, is expected to be enhanced through the work of the local American Chamber of Commerce (AmCham) which was inaugurated on Monday evening.
AmCham is a voluntary association of US enterprises and individuals doing business in a given country, as well as firms and business executives of that country who operate in the US, said President of the chamber, Zulfikar Ally.

The chamber will serve as a “useful device” for promoting bilateral relations between Guyana and the US, said Prime Minister (ag) and Foreign Affairs Minister Carl Greenidge, during his remarks at the launch of AmCham.

Guyana and the US share a long bilateral relationship, but he believes that the chamber will help to further solidify what was already established, especially at a time when Guyana is about to benefit from a budding oil and gas industry.

Although oil has been the major focus for a few years, the chamber will create a conduit for local and foreign businesses to make investments in every area. Minister of Business, Dominic Gaskin was also optimistic about the opportunities which AmCham will present.
“This is an indicator of what lies ahead…the chamber will allow us to expand the pool of information sharing,” said the minister, adding that a lot of work is yet to be done. He urged the private sector to take on some of the work that is yet to be done. Gaskin believes that the private sector has the capabilities and competent organisations which represent the views of the businessmen/women.

According to Gaskin, AmCham will complement other competent private sector organisations such as the Guyana Manufacturers and Services Association (GMSA), the local chambers of commerce and the Private Sector commission (PSC).

“Most Guyanese will want to increase trade between the US and Guyana… the chamber can and must drive development and economic growth,” he said, adding that Government is aware of some challenges which the private sector faces, including the bureaucracy and need for automated systems.

Although it is a slow process, he believes that there will be simplified bureaucracy and automated processes soon. More of those systems will be needed, especially since Guyana’s economy is projected to grow significantly with the introduction of the oil and gas industry.

Ally, in an earlier presentation, had said that AmCham will ensure that businesses capitalise on available opportunities as the economy continues to grow.

“We will open the doors to promote bilateral trade between the US and Guyana, in some instances leading to the creation of joint ventures and partnerships,” he said.
Continued growth and investment would also boost Guyana’s global competitiveness because AmCham is usually the first contact for US businesses which are exploring the possibilities of foreign trade. In two years, the chamber expects major transformation since they intend on working closely with other private sector bodies to push the economy forward.

US Ambassador to Guyana, Perry Holloway also agreed that the chamber would bring major benefits and opportunities to the country. AmCham was formed in 1912 to provide a unified voice for businesses in the US, said Vice President of the US Chamber of Commerce Annie McKinney, adding that it is the world’s largest business federation which represents the interest of more than three million businesses.