Even as the Guyana government emphasises the need for local manufacturers to abide by recognised standards as part of their drive to penetrate foreign markets, the United States (US) says they have a lot more work to do if they are to become reliable suppliers on American shelves and elsewhere.
Guyana has been attractive destination for investments in the oil industry, food franchises and US-branded hotels and a shorebase, among others. Though the US Ambassador to Guyana Nicole Theriot said the embassy was being “inundated” by calls from American companies that are eager to enter the Guyanese market, local companies need to be better prepared for partnerships. “What companies tell me time and time again is that they struggle to find local partners who can deliver at scale. They also face potential hurdles like logistics, energy costs, an onerous and unpredictable tax regime, and access to land and skilled workers,” she told the Guyana Manufacturing and Services Association’s (GMSA) business luncheon whose theme was “Building The Bridge- Local Capacity, Global Partnership”.
Ms Theriot said long-term economic transformation of Guyanese businesses could be achieved by foreign capital feeding stronger Guyanese companies, better trained workers. new technologies, and internationally recognises standards.
Minister of Industry and Commerce and Industry, Susan Rodrigues issued a stirring appeal to Guyanese businesses to take advantage of the Guyana National Bureau of Standards (GNBS) to get certified, while she was addressing the GMSA luncheon. “Being export-ready means being able to meet proper standards, maintaining consistent quality and supply, understand target markets, price competitiveness and fulfill orders reliably,” Ms Rodrigues said. She also urged businesses to acquire certification and compliance for market access. “I would like to encourage small business owners, business owners in general to view standards and certification as an investment in your business and not another compliance requirement,” he said.
At the same time, she cautioned that meeting the national standard would not automatically mean that such products could be sold in foreign markets. The Commerce and Industry Minister advised businesses to place higher priority on quality for international markets and “let that be the focus of your mind from the beginning” instead of focussing at the outset on meeting local standards. She said other countries require importers to meet their domestic standards in the Caribbean, North America, Europe and elsewhere. She pledged Guyana’s support in ensuring that they meet those export market specifications.
For her part, the American envoy welcomed the tax incentives and business support mechanism for local companies. She hoped that Guyana and the US would be able to resolve those barriers to doing business with ease. “I think the international companies are still struggling over here with this. I’m hoping we’ll be able to overcome these challenges together, and I think we do that by having these global partnerships,” she said. Ms Theriot said American companies broadly make decisions on partnerships by determining whether local companies can produce based on specifications, deliver at the same quality every time and whether they can scale up. Ms Theriot said American companies also place great emphasis on strong quality control, safety practices and maintenance of standards.
The US Ambassador said the Development Finance Corporation, US Trade and Development Agency and the US Department of Commerce all have windows to support local companies that are interested in doing business with their American counterparts.
