The Georgetown Chamber of Commerce and Industry (GCCI) on Wednesday, July 8, signed a Memorandum of Understanding (MoU) with the Trinidad and Tobago Chamber of Industry and Commerce to collaborate for the advancement of bilateral trade between the two countries, and to address non-tariff barriers affecting the export of Guyana’s products into Trinidad and Tobago.
The MoU was signed by President of the GCCI, Mrs. Kathy Smith, and President of the T&T Chamber, Mrs. Karen Yip Chuck. President and Chief Executive Officer of the Energy Chamber of Trinidad and Tobago, Ms. Priya Marajh, and Chief Executive Officer of the T&T Chamber, Dr. Vashti Guyadeen were also present during the simple signing ceremony in the GCCI’s boardroom.
Underscoring the crucial nature of the agreement, President Smith outlined the objectives of the MoU, noting, “One of the foundational values of the GCCI is collaboration. This Memorandum of Understanding is geared towards addressing key issues affecting trade between Trinidad and Tobago and Guyana—particularly non-tariff barriers. We will work towards actively identifying and resolving barriers to market access and other challenges, and cooperatively address these for mutual benefit. Through this MoU, the two Chambers will be working collaboratively on projects to enhance economic and social opportunities for our respective members and the business communities in the two countries. This includes sharing research and information on areas that have great potential for development.” These efforts, she added, will include advocacy among regulatory agencies and key stakeholders.
Hailing the initiative as a significant step in strengthening the economic relationship between Trinidad and Tobago and Guyana, President of the T&T Chamber, Mrs. Yip Chuck stated, “Today’s signing is not simply about executing a Memorandum of Understanding, rather it is about creating an enduring framework through which the private sectors of our two countries can work together to identify challenges, advocate for solutions and unlock new opportunities for business.”
The two Chambers’ officials provided insight into the history of their discussions—dating back to 2022— to address matters impacting bilateral trade, particularly as it relates to facilitating the export of Guyana’s agricultural products to Trinidad and Tobago. Through this MoU, a working group will be established to ensure that all objectives of the agreement are achieved, and goals are executed in a timely manner.
