Trade partnership with Brazil deepens

GEORGETOWN (CMC):

Trade between Guyana and Brazil has expanded sharply in recent years, opening fresh opportunities for investment, private-sector growth and regional integration, according to Dr Peter Ramsaroop, chief investment officer at the Guyana Office for Investment.

Ramsaroop said the rapid growth reflects a strengthening partnership between the two countries.

Brazil’s ambassador to Guyana, Maria Cristina de Castro Martins, noted that bilateral trade has climbed from about US$58 million in 2020 to roughly US$1 billion in 2026 — more than a sixteen-fold increase — describing it as a significant expansion in economic cooperation driven by demand in energy, mining, infrastructure and construction.

She said Guyana’s exports to Brazil are heavily concentrated in crude oil, accounting for about 98 per cent of shipments, while Brazil’s exports consist mainly of machinery and industrial equipment used in construction, mining, extractive industries and oil production.

Ramsaroop said the ambassador’s remarks “reflect the significant expansion in engagement and cooperation between our two countries in recent years, particularly in trade, infrastructure, agriculture, logistics and private-sector collaboration”.

He pointed to several major infrastructure projects positioning Guyana as a strategic commercial link between the Caribbean and South America. These include the upgraded road connection to northern Brazil; expanded port facilities, such as the Tristar terminal; plans for a deep-water port in Berbice; expanded logistics infrastructure; and government plans to transform Lethem airport into an international hub.

According to Ramsaroop, these developments are expected to unlock opportunities across trade, tourism, transportation, manufacturing and industrial development.

“We are seeing increasing interest from companies in sectors, such as large-scale agriculture, agro-processing, logistics, construction, manufacturing, energy support services and infrastructure development. Guyana is strategically positioned between the Caribbean and South America, creating opportunities for regional expansion and integration,” he said.

He added that local businesses, particularly in Lethem and Region Nine, stand to benefit from closer ties with Brazil through increased economic activity and improved connectivity.

Expanded port capacity, improved transport corridors and stronger links between the two countries “will create new opportunities for our local private sector in transportation, logistics, hospitality, cargo-handling, tourism services, warehousing, retail and agro-processing”, he said.

He also noted that Guyana’s expanding agriculture sector is opening doors for joint ventures and regional partnerships, with future prospects in fertiliser production and industrial processing as the country builds out its energy and logistics base.