Guyana, Dominican Republic strengthen trade and investment ties

Guyana and the Dominican Republic are advancing efforts to deepen trade and economic cooperation, moving beyond policy discussions to concrete investments.

Guyana’s Chief Investment Officer, Dr Peter Ramsaroop, said both countries were seeing tangible results in trade, energy, manufacturing, and agriculture, citing major developments in key sectors.

“This is not just about agreements on paper. We are seeing real investment, new joint ventures, and expanding trade opportunities that are laying the foundation for sustained economic growth,” Dr Ramsaroop told a business luncheon in Santo DoDomingo.

The event, hosted by the Guyana-Dominican Republic Chamber of Commerce and Industry, brought together senior government officials and business leaders to discuss strategies for economic collaboration.

Dr Ramsaroop highlighted a joint venture between Dominican fertiliser company Fersan and Guyanese firm Gaico Inc. as an example of growing economic ties. He also pointed to large-scale agricultural investments by Dominican partners, aimed at bolstering Guyana’s role as the “breadbasket” of the Caribbean.

Energy, workforce development, and tourism were also on the agenda, with Dr Ramsaroop stressing the importance of direct flights between Georgetown and Santo Domingo in boosting business and tourism.

Dominican Vice President Raquel Peña said the establishment of the Guyana Chamber of Commerce in the Dominican Republic signalled a commitment to deeper economic and cultural ties.

“These efforts are already producing tangible results, strengthening investment, generating employment, and improving the quality of life for our people,” Peña said.

The number of Guyanese visitors to the Dominican Republic doubled in 2023, driven in part by improved air connectivity, she said, adding that multi-destination tourism packages would be launched in 2025 to link Guyana with the Dominican Republic’s 11 million annual visitors.