President Dr. Irfaan Ali has reaffirmed his government’s commitment to strengthening Guyana’s trade and investment ties, while urging a move beyond raw material exports toward a modern, knowledge-based economy.

Speaking at the Canada-Guyana Chamber of Commerce Maple Leaf Gala, President Ali said Guyana’s rapidly evolving economy presents an opportunity to redefine traditional trade patterns and promote partnerships rooted in innovation, technology, and long-term growth. “We must deepen trade between our two countries beyond the export of raw materials. We must move toward the export of value-added goods and services,” he stated.

The President explained that Guyana’s development strategy is centered on diversification, using the country’s oil wealth as a springboard for investment in non-oil sectors such as agriculture, manufacturing, renewable 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, one that focuses on value creation, knowledge generation, innovation, and technology,” he said.

He noted that Canada has long been a reliable partner in areas such as mining, finance, and education, but said the time has come to chart a new path. “The time has come for us to create new pathways for collaboration, pathways guided by innovation, technology, and value addition,” he emphasized.

President Ali outlined the government’s ongoing investments in infrastructure, human capital, digital systems, and energy as key foundations for building a diversified and globally competitive economy. “We are investing heavily to make Guyana the hub for trade and services in this part of the world,” he said.

He added that Guyana’s strategic location gives it a unique advantage within the Caribbean, positioning it as a bridge between the Caribbean and Latin America, as well as between the northern and southern hemispheres. This, he said, strengthens the country’s role as a conduit for trade and investment in sectors such as logistics, agriculture, tourism, and services.

While oil and gas continue to drive economic expansion, President Ali stressed that the government’s long-term goal is to channel revenues into productive investments that build an inclusive, resilient, and future-ready society. He encouraged greater Canadian private-sector participation in manufacturing, ICT, education, healthcare, and renewable energy.

As Guyana deepens global partnerships, President Ali reaffirmed his government’s commitment to transparency, a rules-based trade system, and continuous dialogue with investors and development partners. “This is the moment for us to reimagine our partnership, one that moves us beyond the traditional and into the transformational,” he concluded.

Source: (Guyana Chronicle)

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