GEORGETOWN, Guyana, (DPI) – His Excellency Dr Mohamed Irfaan Ali is urging the private sector of Guyana and Canada to take their partnership to new frontiers, moving beyond the export of raw materials and focusing more on value-added production, innovation, and knowledge-based collaboration.
During his feature address at the Maple Leaf Gala organised by the Canada-Guyana Chamber of Commerce on Thursday and held at the Marriott Hotel in Georgetown, the head of state said that Guyana must now transform and diversify its economy.
“Guyana must move from being a supplier of raw materials to being a producer of refined and high-value goods,” President Ali emphasised, noting that growth lies in transforming its exports.
Guyana offers various services, with the president noting opportunities in mining, agriculture, forestry, fisheries, and energy. He mentioned that Guyana can learn from Canada’s expertise to enhance its export value.
Merchandise trade between the two nations was CAD$272.7 million in 2023, with Guyana exporting CAD$230.5 million and importing CAD$59.1 million from Canada. Although the amounts are small, President Ali believes the partnership has great potential to grow.
President Ali also highlighted the role of technology and innovation in shaping Guyana’s future.
“For us to demonstrate to the world that we are the destination for investment, and technology, and digitisation and data services, we have to fuel an economy on this backbone,” he said.
President Ali further highlighted that his government is moving to simplify its banking system and digitise government services to improve efficiency and create a business-friendly environment. Describing Guyana as a “frontier of opportunity” for investors, the Guyanese head of state pointed to the country’s young workforce, growing infrastructure, and commitment to modernisation. He reasoned that these factors, combined with strong bilateral ties, provide fertile ground for a knowledge-driven partnership with Canada.
On tourism and infrastructure, president Ali said these are part of a broader strategy to diversify the economy and create new growth opportunities.
Sébastien Sigouin, the Canadian High Commissioner in Guyana, reaffirmed Canada’s deep and enduring partnership with Guyana.
Sigouin reflected on the recent visit of a Canadian business delegation to Guyana, noting it showed Canada’s growing partnership with the country. “Their presence indicates that Canada is not a new partner, but one that is finding new ways to engage,” he said.
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