Guyana, Barbados renew economic partnership

Guyana and Barbados have formally renewed their economic partnership with the signing of a Memorandum of Understanding (MoU) for the Deepening of Cooperation between the two nations.

The MoU was signed between the Guyana Office for Investment, Barbados International Business Promotion Corporation (Invest Barbados), and the Barbados Investment and Development Corporation (BIDC). The signing took place during the Agri Exchange / Diaspora Connect session, facilitated by the Guyana Office for Investment.

Signing for Guyana was Chief Investment Officer and Agency Head of the Guyana Office for Investment, Dr. Peter Ramsaroop, alongside CEO of Invest Barbados, Kaye-Anne Greenidge and CEO of the Barbados Investment and Development Corporation (BIDC), Mark Hill.

This strategic agreement, signed in Bridgetown, Barbados, following Agro Fest, reinforces the longstanding economic partnership between the two countries, fostering greater collaboration in investment promotion, trade facilitation, and sectoral development.

The renewal of the MoU reflects a shared commitment to strengthening bilateral cooperation, particularly in agriculture, agro-processing, and export market expansion.

With this renewed MoU, Guyana and Barbados are not only deepening their economic collaboration but also laying the foundation for a more interconnected and resilient regional economy, the Guyana Office for Investment stated. This renewed agreement aims to support local industries, encourage entrepreneurship, and facilitate cross-border trade and investment.

“By leveraging Guyana’s position as a leading agricultural producer and Barbados’ focus on food security and industrial innovation, the partnership seeks to enhance market access, boost investment opportunities, and improve supply chain integration.

It also underscores both nations’ efforts to promote economic diversification, private sector engagement, and regional self-sufficiency in key industries,” the agency said.

Agri Exchange / Diaspora Connect—this year’s B2B event at Agro Fest—facilitated direct engagement between businesses from Guyana and Barbados, fostering new trade opportunities and long-term investment partnerships.

Around 80 Guyanese businesses participated in this year’s Agro Fest, representing industries such as agro-processing, tourism, handicrafts, furniture, cosmetics, and fresh produce.