Guyana-Canada Partnership Shifts Focus to Value-Added Growth

President Mohamed Irfaan Ali called for a transformative shift in Guyana-Canada economic relations, emphasizing value-added production and knowledge-based collaboration during the Maple Leaf Gala in Georgetown on Thursday.

Economic Transformation Strategy

As Guyana continues its remarkable economic growth trajectory, President Ali emphasized the need to evolve beyond raw material exports. The bilateral trade, currently at CAD$272.7 million in 2023, shows significant potential for expansion and sophistication.

"Guyana must move from being a supplier of raw materials to being a producer of refined and high-value goods," President Ali stated at the Canada-Guyana Chamber of Commerce event held at the Marriott Hotel.

Diversification and Development Opportunities

The partnership encompasses various sectors, including:

Mining and energy resources
Agricultural development
Forestry management
Fisheries expansion
Technology and innovation

In the agricultural sector, Guyana's ambitious plans for regional food security present significant opportunities for Canadian expertise and investment.

Infrastructure and Digital Transformation

The government's commitment to modernization is evident in its push for digital transformation. As part of its broader infrastructure development initiative, Guyana is streamlining banking systems and digitizing government services to create a more business-friendly environment.

"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," President Ali emphasized.

Strengthening Bilateral Relations

Canadian High Commissioner Sébastien Sigouin reinforced the partnership's potential, noting that recent Canadian business delegations to Guyana indicate growing interest in deepening economic ties. The focus on knowledge transfer and innovation positions both nations for mutual growth in an evolving global economy.