-says efforts aimed at long-term sustainable trade relations, broadening the export base

PRESIDENT Dr. Irfaan Ali on Friday revealed that Guyana is advancing a comprehensive trade expansion strategy aimed at accessing diverse markets in the European Union with a focus on agriculture and value-added exports.

The Head of State made these remarks during Europe Day celebrations hosted by the Delegation of the European Union to Guyana at the Herdmanston Lodge.

While crude oil remains the primary export to the European Union (EU), he stated that efforts are underway to broaden the export base and ensure long-term sustainable trade relations.

“We have been working on a very elaborate trade programme to build our capacity here in Guyana to access a more diversified market in Europe; fresh fruits and vegetables and coconut water from the Pomeroon,” he said.

President Ali added that the government is confident that with the type of infrastructure investment being made in agricultural expansion, especially in products like coconuts, coconut water and other by-products, this would be an important area for trade expansion.

Dr. Ali’s address followed that of the EU Ambassador to Guyana, Rene Van Nes, who noted that there has been a significant growth in trade between Guyana and the EU over the past decade, largely driven by crude exports.

“Exports from Guyana to the EU increased from about G$15 billion in 2014 to 2.4 trillion Guyanese dollars in 2024,” the Ambassador said.

“Guess what has caused this? Indeed, the EU bought more than 65 per cent of Guyana’s crude oil. We are by far the largest buyers in the world,” he added.

To this end, President Ali highlighted the surplus in trade with the EU, and noted that it serves as a positive contribution to Europe’s energy needs.

“Whilst, yes, the trade surplus is a result of crude oil, you must acknowledge that Guyana is contributing positively to the energy security of Europe,” he said.

Meanwhile, key to Guyana’s elaborate trade strategy to access diverse markets is meeting the technical and regulatory standards required for international trade.

As such, President Ali indicated, “It is important that we build the ecosystem with the phytosanitary requirements and all the other international certification, and we have been working with the European Union in ensuring that as we build out this capacity, we are building it within the ecosystem that will support this smooth export of these commodities.”

Further to this, Dr. Ali described the evolving relationship between Guyana and the EU as one that is fruitful and respectful, which, he said, can be attributed to the approach of both the government and the ambassador to the relationship.

“A lot of that is because of the approach of the ambassador and the government, and that approach was to build partnerships, enhance trust, and create opportunities,” he emphasised.