Guyana And Jamaica Businesses Plan To Trade More Between The Two Nations.

Photo: Pixabay. Jamaica and Guyana plan to increase mutual trade.
- Advertisement -

Guyanese and Jamaican private sector interests have pledged to increase trade and investment activities in both countries, accordding to a press release, however it is not revealed exactly what type of products might be going in each direction.

Guyana and Jamaica are both members of CARICOM.

In 2022, Jamaica exported $26.6M to Guyana. The main products that Jamaica exported to Guyana are Refined Petroleum ($15.1M), Flavored Water ($1.1M), and Vermouth ($1.02M).

Guyana exported $101M to Jamaica. The main products that Guyana exported to Jamaica were Rice ($58.9M), Non-fillet Frozen Fish ($24.3M), and Fish Fillets ($8.34M). During the last 26 years the exports of Guyana to Jamaica have increased at an annualized rate of 10.8%, from $7.08M in 1996 to $101M in 2022.

Guyana’s Foreign Secretary Robert Persaud today met with the Minister of Industry, Investment and Commerce of Jamaica Aubyn Hill who is currently leading an Export and Investment mission in Guyana from 12th to 15th May 2024.

Minister Hill is accompanied by representatives from the Jamaica Promotions Corporation (JAMPRO), Jamaica Special Economic Zone Authority (JSEZA) and Jamaica National Agency for Accreditation.

During the meeting, the two sides underscored the importance of enhancing trade and investment opportunities between Guyana and Jamaica and stressed the need for greater collaboration and cooperation between the private sectors of both countries.

The visit by Minister Hill and his delegation is therefore a positive step in this direction, in light of Guyana’s economic trajectory. Foreign Secretary Persaud assured that the Government of Guyana is open for investment and is keen on expanding its trade relations with countries in the CARICOM region, with the aim of strengthening regional trade and achieving food security.

During his visit, Minister Hill will be meeting with government ministers, officials and members of the private sector to discuss areas of future collaboration in export, trade and investment.

- Advertisement -