US establishes Department of Commerce Office at local embassy

US establishes Department of Commerce Office at local embassy

US Ambassador to Guyana, Nicole Theriot, believes Guyana and the US should remain “laser focused” on implementing sound policies that would drive economic growth and development in both countries.

In delivering the keynote address at the Guyana Manufacturing and Services Association (GMSA) Annual Awards and Dinner at the Marriott Hotel last evening, Ambassador Theriot said in advancing company to company linkages, the US Government has moved to establish an office of the US Department of Commerce at the local embassy to help American companies connect to the right Guyanese companies.

 “From safe devices in healthcare, new technology that boosts agricultural output, valuable education services and IT hardware and software that can be trusted, US companies enhance their local partners’ offerings and help spur greater economic development. GMSA is a natural fit for this type of collaboration as many of your members are ideal partners for US firms, and can help bring the highest quality solutions to Guyana,” the US Ambassador said.

Ambassador Theriot said the United States greatly values being Guyana’s preferred partner in its development. She said increased partnerships in sectors across the country augur well for both countries.

“Our political economic team focuses on promoting the types of policies that propel growth from advocating for land permitting processes for agriculture investors to legal and regulatory frameworks that attract additional financial institutions to the market. The team is proactive in supporting the realization of our shared prosperity,” the US Ambassador said.

The US Envoy also spoke of the importance of training and capacity building in all sectors, but also of the need to advance the diversification of the country’s economy. She reminded that diversification is achieved through the enactment of policies that enable private sector growth. 

“The energy sector has of course been a catalyst for Guyana’s remarkable growth but investing and fostering other sectors at the same time is equally important. Economic growth does not always result in economic diversification, it is something you have to make a concerted effort to do. And in other to shift the economy towards a wide range of sectors and markets, lower cost, more reliable electricity must be available, in additional to reliable high-quality infrastructure such as ports and bridges and roads,” the US Ambassador explained.

GMSA President Ramsay Ali in his address said the Manufacturing Association has made significant strides in building partnerships with companies in the Latin America and Caribbean Region, and even further afield in North America, Asia and Europe.

It was noted that over the past year, the GMSA facilitated trade missions from Trinidad and Tobago, Jamaica, Brazil, India, Mexico and Europe.

A team from the GMSA also visited Belize.

Mr. Ali said the GMSA has also signed a number of Memorandums of Understanding (MoU) to foster greater partnerships among local and international companies.

The GMSA Award ceremony saw a number of local companies being awarded for their contributions to growth in the manufacturing and services sector.

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