THE Georgetown Chamber of Commerce and Industry (GCCI) and the Trinidad and Tobago Chamber of Industry and Commerce have signed a Memorandum of Understanding (MoU) aimed at deepening bilateral trade, strengthening private sector collaboration and addressing longstanding non-tariff barriers affecting the export of Guyanese products to Trinidad and Tobago.
The agreement was signed on Wednesday at the GCCI’s boardroom by GCCI President, Kathy Smith and President of the Trinidad and Tobago Chamber of Industry and Commerce, Karen Yip Chuck.
Also present at the ceremony were President and Chief Executive Officer of the Energy Chamber of Trinidad and Tobago, Priya Marajh, and Chief Executive Officer of the Trinidad and Tobago Chamber, Dr Vashti Guyadeen.
The agreement establishes a framework for co-operation between the two business organisations, with a particular focus on improving market access, enhancing trade relations and fostering greater economic opportunities for businesses in both countries.
Addressing the ceremony, Smith said collaboration remains one of the GCCI’s core values and emphasised that the agreement is intended to resolve key issues affecting trade between Guyana and Trinidad and Tobago.
She explained that one of the primary objectives of the MoU is to identify and address non-tariff barriers that continue to hinder the movement of Guyanese products into the Trinidad and Tobago market.
According to Smith, the two chambers will work jointly to identify obstacles to market access, advocate for practical solutions with regulatory authorities and undertake collaborative initiatives that promote economic and social opportunities for businesses in both countries.
She added that the partnership will also facilitate the exchange of research, information and best practices in sectors with strong development potential while strengthening advocacy efforts with key stakeholders.
Describing the agreement as an important milestone in the relationship between the two private sector bodies, Yip Chuck said the signing represents more than a formal partnership.
She noted that the MoU creates a long-term framework through which the private sectors of Guyana and Trinidad and Tobago can jointly identify challenges, advocate for policy solutions and unlock new business opportunities.
Officials from both chambers disclosed that discussions leading to the agreement began in 2022, driven largely by concerns surrounding bilateral trade and the difficulties faced by Guyanese exporters, particularly those seeking to access the Trinidad and Tobago market with agricultural products.
As part of the agreement, a joint working group will be established to oversee the implementation of the MoU, monitor progress and ensure that its objectives are achieved within agreed timelines.
The initiative comes amid expanding economic relations between Guyana and Trinidad and Tobago, fuelled by increased investment opportunities, growing trade and closer regional integration under the Caribbean Community (CARICOM). Business organisations in both countries have repeatedly called for stronger private sector partnerships and the removal of unnecessary trade barriers to facilitate greater regional commerce.
The GCCI said the MoU represents another step towards creating a more predictable and cooperative business environment that will benefit exporters, investors and the wider private sectors of both countries.