-President Ali says, urges shift towards high-value goods, technology and services
PRESIDENT Dr Irfaan Ali has reaffirmed the government’s commitment to strengthening Guyana’s trade and investment relationship.
The Head of State was at the time speaking at the Canada-Guyana Chamber of Commerce Maple Leaf Gala, during which he emphasised the need to move beyond raw material exports and towards a diversified, knowledge-driven economy.
He stated that Guyana’s evolving economy provides an opportunity to redefine traditional trade patterns and to foster partnerships that focus on innovation, technology and long-term growth.
“We must deepen trade between our two countries beyond the export of raw materials. We must move towards the export of value-added goods and services,” he said.
He went on to add that the government’s development strategy is anchored in diversification, ensuring that the country’s oil wealth acts as a catalyst for investment in non-oil sectors like agriculture, manufacturing, energy and information and communications technology.
“Guyana is open for business, but not in the traditional sense. We are open for business in the modern sense… in which we focus on value creation, knowledge generation, innovation and technology,” he said.
To this end, he said that Canada has been a longstanding partner to Guyana, supporting key sectors including mining, finance and education, but added that the time has now come to chart a new course.
“The time has come for us to create new pathways for collaboration, pathways that are guided by innovation, technology and value addition.”
According to the President, the country’s rapid infrastructure transformation, major energy projects, and investments in education are all part of the government’s efforts to establish the foundation for a modern, diversified economy that is globally competitive.
“We are investing heavily in our infrastructure, our human capital, our digital systems and our energy matrix. All of this is to make Guyana the hub for trade and services in this part of the world,” he said.
Against this backdrop, he pointed out that Guyana’s geographic position gives the country a unique advantage within the Caribbean, as he said that the goal is to make Guyana the bridge between the Caribbean and Latin America and a bridge between the north and the south.
This, he said, places the country in a strategic position to serve as a conduit for trade and investment between markets, with growing opportunities for collaboration in logistics, agriculture, tourism, and services.
The Head of State said that while the oil and gas sector continues to drive growth, the government’s long-term objective is to ensure that revenues are channeled into productive investments that strengthen the real economy.
“We are not only building an economy; we are building a society that is inclusive, resilient and future-ready. Canada is an important partner in that journey.”
Dr Ali went on to note that the private sector plays a crucial role in this transformation and urged Canadian investors to explore opportunities beyond the extractive industries.
“We want to see more Canadian businesses in manufacturing, ICT, education, healthcare and renewable energy,” he said.
President Ali added that as Guyana expands its global partnerships, it remains committed to maintaining a rules-based trade system, transparency, and continuous dialogue with investors and development partners.
He stressed the importance of ongoing collaboration with the diaspora and international chambers, such as the Canada-Guyana Chamber of Commerce, to ensure that business partnerships evolve in line with the country’s development vision.
“This is the moment for us to reimagine our partnership, one that moves us beyond the traditional and into the transformational.”
