More Guyanese Companies to Attend Cuba’s International Trade Fair (FIHAV)

October 12, 2018 

– Guyana continues to strengthen bilateral trade relations with Cuba

– more than ten local companies to attend with GO-invest

– more new companies onboard this year

– Cuba buying more lumber from Guyana 

DPI, Guyana, Thursday, October 11, 2018

As Guyana continues to strengthen its bilateral trade relations with Cuba, more than ten local companies, through the Guyana Office for Investment (GO-Invest), are preparing to participate in the largest annual multi-sector trade fair in Cuba, Havana International Trade Fair (FIHAV) on October 29-November 2.

Chief Executive Officer (CEO) of GO-Invest, Owen Verwey told the Department of Public Information (DPI) that this year’s delegation will see more new participants entering the Cuban market. He explained that the investment office intends to showcase products including timber, poultry, agro-processed items, pharmaceuticals, agriculture and tourism.

“We are hoping to have a bit more of the forestry products. Cuba has a big boom like Jamaica going on. With the tourism sector, the demand for forest related products is very significant in construction and we hope to get some of that. But also, we are hoping to have the poultry product as a break-in. Cuba has significant amount of tourism and when you look at that number to be fed, we have the potential to supply that market.” Verwey said.

The CEO encourages local businesses to sign on with GO-invest to connect with international investors. “I encourage businesses that look at these opportunities to either engage us or the other foreign missions, that Guyana has in different locations, to take the best of what is being presented and get your products out of Guyana. Do not look at the population size as a market potential.” Verwey said.

Guyana’s Ambassador to Cuba, Halim Majeed, in a recent interview in Cuba, said there was a major breakthrough in the local rice market, following the last Havana expo. “So far, for the year 2017 and this year up to May 2018, we have exported over 85000 metric tons of rice for the Cuban market. Our target is to see if we can export up to 125,000 tons this year.”

The ambassador also highlighted that the lumber market has seen increased interest this year from Cuban buyers. He stated that Guyana’s consulate is aiming to expand the local market through the exports of fruits and vegetables, paints and chicken among other products.

This year’s FIHAV expo will see the traditional networking dinner hosted by the ambassador continuing with local investors, selective businesses in Cuba and various Chambers of Commerce.

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