THE British Chamber of Commerce Guyana (BritCham Guyana) has been established to promote and facilitate commercial business opportunities and mutually beneficial relationships between the United Kingdom (UK) and its largest trading partner in the Caribbean, Guyana.

British and Guyanese companies were encouraged to contact BritCham Guyana to sign up as members to enjoy the full benefits of its support in exploring and accessing each market.

According to a press release, alongside the promotion and facilitation of bilateral trade and commerce, BritCham Guyana, which was launched at the International Energy Conference and Expo, will foster an open networking environment where companies can engage and discuss issues impacting their businesses and UK-Guyana trade, including events such as member meetings, business breakfasts, and seminars.

The independent, non-profit chamber will serve as a leading promoter and enabler of trade and investment between the UK and Guyana, one of the world’s fastest-growing economies.

BritCham Guyana has said it will also work closely with the British High Commission in Georgetown and UK government departments to support their advocacy work in Guyana.

The new organisation will be chaired by Guysons Group Chief Executive Officer (CEO) and UK/Guyanese citizen, Faizal Khan, supported by a board of leading business executives with close ties to both countries, with an office at Pegasus Suites and Corporate Centre in Georgetown.

Khan said that BritCham Guyana aims to become the trusted partner and platform for fostering business between the UK and Guyana, driving foreign direct investment into the Guyanese market, expanding horizons for Guyanese firms, and improving the ease of doing business for its members in both markets.

“Guyana and the UK have enjoyed a cordial, strong relationship for more than five decades, and the business community between the two nations is growing quickly as Guyana’s economy booms,” Khan said.

He added: “There are already significant opportunities for companies in both markets, which we only expect to increase in the years to come. We encourage enterprises based in the UK to join BritCham Guyana so that we can help them understand, navigate and tap into Guyana’s rapidly expanding economy.”

Khan also called on Guyanese businesses to sign up to explore opportunities in the large, diverse UK market and partnerships with UK companies and investors.

He highlighted that the BritCham Guyana will offer its members increased access to and knowledge of each market, investment opportunities, expert and technical skills, advisory services, a wide range of industry, policy, and regulatory insights across sectors, and competitive pricing.

Jane Miller, the British High Commissioner to Guyana, stated that BritCham presents a chance to unite a wide range of UK exports, investors, and services with solid governance, world-class standards, and experience that complement the goals of Guyana’s business community through long-term and sustainable partnerships.

Guyana is the UK’s largest trade partner in the Caribbean. In 2021, the country accounted for 21.6 per cent of all the UK’s trade with the Caribbean, and, to date, there has been a 45.9 per cent increase in trade between the two nations for 2022.

The move to establish the new business chamber comes on the heels of the announcement of visa-free travel to the UK, a direct British Airways flight from the end of March, and the signing of a partnership arrangement by Guyana’s Minister of Foreign Affairs and International Co-operation, Hugh Todd and His Majesty’s Trade Commissioner for Latin America and the Caribbean, Jonathan Knott, CMG in November 2022.

The Chamber will provide further information in due course regarding membership opportunities, governance, and upcoming launch events.

“Companies or individuals interested in joining the chamber should visit britchamgy.com to download an application form and submit the completed form via email to admin@britchamgy.com,” the release stated.