Santo Domingo – The World Trade Centers’ Association (WTCA) Latin America Regional meeting wrapped up here over the weekend with consensus that greater emphasis on human resource development and capacity building remain key requirements for the expansion of effective business development and increased trade within Latin America and the Caribbean.
The meeting also agreed on the importance of the effective utilization of Artificial Intelligence as a tool for improving the efficiency and competitiveness of small and medium sized enterprises, noting that AI is integral to data accessibility but required verification and editing. There is to be follow up discussion on the challenges and opportunities which AI present at the WTCA Members Forum in New York in late October.
Komal Samaroo, the Executive Chairman of WTC Georgetown, stated that the meeting not only tackled significant issues relevant to the operations of the Guyana WTC but also facilitated bilateral discussions with several key figures. These included Edmundo Gil-Tavarez, Vice President of the Dominican Republic/Guyana Chamber of Commerce; Ivan Berrios, President of WTC Miami; Dr. Carlos Ronderos, former Minister of Trade in Colombia and current Regional Director of the WTCA; and Luis Emilio Velutini, Owner and President of World Trade Center Santo Domingo, which features a Marriott Hotel, a multi-level shopping center, and various office and residential spaces.
Arising out of these discussions, plans are being put in place for a trade and investment mission from the WTC Miami to Guyana next year and a trade mission from Guyana to Panama. An MOU has been drafted for future collaboration between the WTC Santo Domingo and Georgetown and is currently being reviewed.
Guyana’s Strategic Location
WTCG Executive Director Wesley Kirton
In his presentation to the meeting WTCG Executive Director Wesley Kirton said “We also heard of the importance of nearshoring and free zones. Guyana’s strategic location as a gateway to and from the Caribbean and Latin America positions WTC Georgetown to be that crucial link to enhance trade and investment, particularly at this time as Guyana is experiencing unprecedented growth and development driven by its ongoing oil and gas discoveries and reserves. There are trade and partial scope agreements in place between Guyana and some Latin American nations which our WTC’s must utilize to explore feasible business opportunities and increase two -way trade.”
World Trade Center Georgetown
Kirton told the meeting that “WTC Georgetown is open to working with our sister WTCs in Latin America. We can help with complex laws, trade advice, and market research. We can also host trade forums, missions, and shows. Additionally, we advocate for policies that make market access easier. We support the exchange of information and education about market trends. We also offer logistics support and training on export readiness, compliance, and international marketing.”
He added that the WTCG building is still being retrofitted. Its completion is delayed by supply chain issues, a lack of skilled labor, and long rainy seasons. Meanwhile, the Center has started a strong work program. This has led to signing several MOUs. They have also hosted and participated in many events at home and abroad. Additionally, they are commissioning a study to update trademarks and intellectual property rights laws in Guyana.
Earlier this month Guyana, for the first time exhibited at the Food and Beverage Show and Conference of the Americas in Miami, Florida resulting from an MOU signed earlier this year between WTC Miami and WTC Georgetown.
