Suriname and Berbice Chambers sign ‘groundbreaking’ MOU boosting trade between countries

Last Friday Suriname Guyana Chamber of Commerce (SGCC) signed  A Memorandum of Understanding (MOU) with the Berbice Chamber of Commerce and Development Association, Central Corentyne Chamber of Commerce, Upper Corentyne Chamber of Commerce & Industry, and the Region 5 Chamber of Commerce and Industry.

The MOU was officially signed at the Central Corentyne Chamber of Commerce office, where the Chairman of the Suriname Guyana Chamber of Commerce, Dr. Vishnu Doerga presented on the current labor situation in Guyana and discussed potential improvements.

The alliance marks a significant step forward in strengthening trade relations and enhancing business opportunities between Guyana and Suriname. By fostering a cooperative network, the agreement aims to facilitate a more seamless flow of trade and investment, offering technical support and boosting regional and global business development through collaborative efforts.

The signing is seen as a significant move to connect Guyanese businesses with opportunities in Suriname. Collaborations have been set up to include Guyanese enterprises in a trade mission to Suriname on June 5th – June 9th. This mission will feature targeted B2B meetings and a visit to the Suriname Energy Oil and Gas Summit (SEOGS), designed to foster direct connections and synergies between businesses across both countries. The SGCC will also support the CCCC with encouraging Suriname companies to participate in the CCCC’s October Berbice Expo. Attendance to the Berbice Expo will also be encouraged at the SGCC’s October International Business Expo.

The MOU signifies a commitment to:

• Increased Trade and Business Relations: The Chambers will work together to promote multilateral trade, offer technical assistance, and encourage investment partnerships between Guyana and other territories.

• Support for Businesses: The partnership focuses on creating networks to support, promote, and encourage businesses operating in Guyana.
• Improved Trade Facilitation: Cooperation will enhance trade facilitation standards, procedures, and best practices for businesses in Guyana and collaborating territories.

Key Objectives of the MOU include:

• Promoting multilateral trade liberalizations and technical assistance.
• Encouraging investment partnerships across the cooperative territories.
• Expanding the reach and penetration of Guyanese markets through improved trade facilitations and relations.

The MOU is designed to be adaptable, allowing for future adjustments to meet the changing needs of businesses and regions, fostering strong regional collaboration that will be key to driving economic development throughout Guyana and beyond.