The World Trade Centers’ Association (WTCA) Latin America Regional meeting wrapped up in Santo Domingo, Dominican Republic, last weekend with consensus that greater emphasis on human resource development and capacity building remain key requirements for the expansion of effective business development and increased trade within Latin America and the Caribbean. The main meeting was held September 26-September 27, 2024.
The meeting also agreed on the importance of the effective utilization of Artificial Intelligence as a tool for improving the efficiency and competitiveness of small and medium sized enterprises, noting that AI is integral to data accessibility but required verification and editing. There is to be follow up discussion on the challenges and opportunities which AI present at the WTCA Members Forum in New York in late October.
WTC Georgetown Executive Chairman Komal Samaroo says the meeting in addition to addressing key issues of importance to the work of the Guyana WTC, also provided for bilateral conversations with, inter alia, Edmundo Gil-Tavarez-Vice President of the Dominican Republic/Guyana Chamber of Commerce; Ivan Berrios-President of WTC Miami, Dr. Carlos Ronderos-former Colombia Trade Minister and current Regional Director of the WTCA; and Luis Emillio Velutini-Owner/President of World Trade Center Santo Domingo which encompasses a Marriott Hotel, multi-level shopping mall, offices and apartments and condominiums.
Arising out of these discussions, plans are being put in place for a trade and investment mission from the WTC Miami to Guyana next year and a trade mission from Guyana to Panama. An MOU has been drafted for future collaboration between the WTC Santo Domingo and Georgetown and is currently being reviewed.
In his presentation to the meeting WTCG Executive Director Wesley Kirton said “We also heard of the importance of nearshoring and free zones. Guyana’s strategic location as a gateway to and from the Caribbean and Latin America positions WTC Georgetown to be that crucial link to enhance trade and investment, particularly at this time as Guyana is experiencing unprecedented growth and development driven by its ongoing oil and gas discoveries and reserves. There are trade and partial scope agreements in place between Guyana and some Latin American nations which our WTC’s must utilize to explore feasible business opportunities and increase two -way trade.”
Kirton told the meeting that “WTC Georgetown is open to other areas of collaboration with our sister WTC’s in Latin America such as navigating complex laws; trade counselling; market research; hosting trade forums, trade missions and trade shows; advocating for policies that provide for easier market access, exchange of information and education about market trends; logistics support; and training on export readiness, compliance and international marketing.”
He added that while the WTCG building was still being retrofitted, its completion delayed by supply chain issues, skilled labor unavailability and extended rainy seasons, the Center has embarked on a vigorous work program that has resulted in the signing of several MOU’s, hosting and/or participating in several events at home and overseas and commissioning a study on updating trademarks and intellectual property rights laws in Guyana. Earlier last month Guyana, for the first time exhibited at the Food and Beverage Show and Conference of the Americas in Miami, Florida resulting from an MOU signed earlier this year between WTC Miami and WTC Georgetown.
