The Georgetown Chamber of Commerce and Industry (GCCI) and the Trinidad and Tobago Chamber of Industry and Commerce have signed a memorandum of understanding aimed at strengthening private sector collaboration between the two countries and improving trade facilitation.
The agreement, signed on Wednesday at the GCCI Boardroom in Georgetown, establishes a framework for both chambers to address non-tariff barriers, trade complaints and mechanisms to support regional commerce.
GCCI President Kathy Smith said the challenges being addressed affect businesses across both countries and extend beyond the two organisations, noting that the Private Sector Commission and the Private Sector Organisation of Trinidad and Tobago are also working on similar concerns.
Chief Executive Officer of the Trinidad and Tobago Chamber of Industry and Commerce Vashti Guyadeen said a key component of the agreement is the creation of a formal trade complaints mechanism through a joint trade desk, which would allow both chambers to track business data and use evidence to resolve disputes.
She said the chambers will also focus on agriculture-related concerns, including updating the Fresh Produce Protocol and developing mechanisms to address taxation issues affecting trade.
The agreement comes amid ongoing discussions over trade barriers between the two countries, including concerns raised by businesses over products such as honey and peppers.
Smith said the MOU was developed in response to real challenges faced by businesses, adding that the goal was stronger regional growth rather than competition between the two countries.
Referring to Guyana's expanding manufacturing sector, Smith said local businesses are focused on increasing production and accessing markets.
Guyadeen said the arrangement marks a new level of cooperation between the chambers, and that both sides are targeting a three-month timeline to establish the trade desk mechanism using existing templates and technology.
Smith said a working group would be established immediately to advance the objectives of the MOU, with an initial meeting planned within two weeks.