THE Private Sector Commission of Guyana (PSC), alongside key business support organisations, engaged in high-level discussions with His Excellency, President Luis Abinader of the Dominican Republic on Tuesday, February 18th, to explore trade and investment opportunities aimed at strengthening economic ties between the two nations.

Led by PSC Chairman Mr. Komal Singh, the Guyanese delegation comprised senior executives from the PSC, the Guyana Manufacturing and Services Association, the Shipping Association of Guyana, the Women’s Chamber of Commerce, the Georgetown Chamber of Commerce and Industry, the Guyana Oil and Gas Energy Chamber, and other business support organisations. Their discussions focused on enhancing regional trade, facilitating investment, and reviewing existing agreements to foster economic integration.

A key topic of the engagement was the potential for a tax treaty between Guyana and the Dominican Republic to enable smoother business transactions. The existing CARICOM Free Trade Agreement was also reviewed, with an emphasis on expanding economic co-operation within the region.
Investment prospects in Guyana featured prominently, with particular attention given to agro-processing, mega farming, deep-water port development, and the establishment of a urea plant. Both parties also explored strategies to develop back-to-back tourism products between the two nations and

avenues for Guyanese businesses to invest in the Dominican Republic. Additionally, infrastructure development and backhaul opportunities for construction materials were highlighted as potential areas for collaboration.
A landmark moment during the engagement was the signing of a Joint Venture Agreement between the GAICO Group of Guyana and Fersan of the Dominican Republic. This strategic partnership marks a significant step toward advancing agricultural development and infrastructure co-operation. Mr.

Ramesh Dookhoo, an executive member of the PSC, underscored the importance of this collaboration in fostering regional investment and strengthening trade relations.
President Abinader reiterated the Dominican Republic’s commitment to deepening its trade relationship with Guyana, sharing key economic growth statistics to highlight opportunities for private sector collaboration. Acknowledging existing challenges in the Dominican Republic’s engagement with CARICOM, he emphasised his administration’s efforts to enhance trade integration within the region.

To further solidify these economic engagements, President Abinader initiated the establishment of a dedicated working group comprising representatives from the Dominican Republic’s private sector and the Private Sector Commission of Guyana. This working group will systematically identify trade and investment opportunities, address regulatory challenges, and enhance market access between the two countries. President Abinader assured that his administration is fully committed to supporting this initiative, providing the necessary assistance to drive meaningful partnerships and sustainable economic growth.

The Private Sector Commission reaffirmed its dedication to fostering regional economic collaboration and translating discussions into actionable business opportunities. With this renewed engagement, the PSC looks forward to continued collaboration with the Dominican Republic, ensuring that Guyanese businesses benefit from expanded trade and investment prospects.