Guyana Seeks Stronger Trade Ties with Dubai Businesses

Atiq Juma Nasib, Senior Director, Commercial Services Sector, Dubai Chamber of Commerce and Industry, discussed with George Hallaq, Minister of State and Presidential Envoy of the Republic of Guyana, and his business delegation, ways of strengthening trade ties with Dubai businesses. During the meeting, Hallaq said his country had decided to open soon a commercial representative office in Dubai representing Guyana as well as the Caribbean Community which he said will help attract Dubai investors to his country and to highlight Dubai's investment potential to the Guyana and Caribbean business community. He invited Dubai Chamber to participate in the Caribbean-Gulf Forum which will be held in Guyana in November 2012 and will provide an ideal platform for UAE businesses to discuss bilateral cooperation with their Caribbean counterparts and to make their presence felt in the region. He highlighted the investment potential offered by his country's free market, trade and infrastructure especially in the management of ports and airports, and tourism and real estate sectors.

Mr. Hallaq further stressed that his country, which enjoys a strategic location in the Caribbean region, has vast natural resources including aluminium, diamonds, uranium, precious stones and timber as 60% of the Amazonian forest is present in Guyana. He added that his country is very attractive for investors due to its low taxes, good relations with the Western countries as well as its ability to attract millions of tourists annually. He also lauded Dubai Chamber's role in supporting the business community and expressed his country's desire to learn from Dubai's competitive business environment as he said that the emirate enjoys a strong business-savvy reputation in the international market and called for enhanced trade ties between the two countries. On his part, Mr. Atiq Juma Nasib, Senior Director, Commercial Services Sector, Dubai Chamber, welcomed the decision of opening a Guyana commercial representative office in Dubai which he said will go a long way in cementing bilateral ties between the two countries as well as Dubai's relationship with the Caribbean Community.

Mr. Nasib informed the delegation about Dubai' strategic role as a major re-export destination in the region offering world-class trading, logistics and financial services to multinational investors working and living peacefully in the emirate. He also assured the visitors of Dubai Chamber's assistance in setting up businesses for Guyana as well as the members of the Caribbean Community and also highlighted the Chamber's latest initiative of reaching out to emerging markets of the world which includes Guyana as well, he said. Dubai's non-oil trade with Guyana reached AED 7.4 million in the first five months of 2012 as there is ample scope for both the sides to enhance their trade cooperation by making good use of Dubai's strategic location as an East meets West destination as well as a gateway to the region.