The highly anticipated GuyExpo 2024 kicked off Thursday at the Sophia Exhibition Center, marking the return of the iconic trade show for its second consecutive year following a hiatus under the previous administration.
The event, often considered one of the Caribbean’s longest-running trade expos, has become a premier platform for showcasing the innovation, resilience, and growth of Guyana’s local industries.
Minister of Tourism, Industry, and Commerce, Oneidge Walrond, addressed the opening ceremony, celebrating the tremendous progress the nation has made in recent years, particularly in the non-oil sectors.
Walrond highlighted the theme for this year’s expo: ‘Guyana on Show: The Fastest Growing Economy’, emphasizing that Guyana’s economic transformation is driven by sectors such as agriculture, mining, construction, and forestry.
“The overwhelming support we received last year from the public and the small business sector reaffirmed the significance of this event,” Walrond said.
“GuyExpo is a dynamic platform for not only launching new products but also exposing local businesses to new markets and reinforcing the importance of our established brands.”
This year’s event features a record 283 booths and is expected to attract over 100,000 visitors throughout its four-day run.
The expo showcases a wide array of attractions, including an international pavilion, a service pavilion, a tourism village, an agro-processing section, an international food court, and a dedicated children’s zone. Daily live entertainment further enhances the vibrant atmosphere, making the expo a celebration of Guyana’s cultural and economic diversity.
Walrond pointed to Guyana’s impressive economic growth, citing a stunning 49.7% increase in real GDP in the first half of 2024, with the non-oil economy expanding by 12.6%.
This growth, she noted, reflects the success of government policies aimed at stimulating private sector development and promoting sustainable industries outside of the oil and gas sector.
“The success we’ve seen in agriculture, fishing, mining, and construction demonstrates that Guyana is growing in more ways than just oil,” Walrond said. “This is evident in the products you’ll see here today—some of which have become internationally recognized, while others represent the innovations of tomorrow.”
A key focus of this year’s expo is the promotion of small and medium-sized enterprises (SMEs), which Minister Walrond highlighted as the backbone of the nation’s economic growth.
She also lauded the success of the government’s business incubator centers in Lethem and Berbice, which have helped local businesses scale their production. In 2024 alone, the Berbice incubator produced over 8,000 pounds of indigenous flowers and nearly 70,000 sachets of tea bags.
The expo also emphasizes the potential for Guyana’s agricultural products to tap into international markets. Walrond pointed to the growing global demand for cassava flour, a market valued at $47 billion, which is projected to reach $80 billion in the next six years.
In addition to showcasing local businesses, GuyExpo 2024 also serves as a hub for international trade. This year, Barbados, Suriname, Canada, China, and South Korea are among the nations represented, with trade delegations eager to explore partnerships and increase bilateral trade.
In particular, Barbados is sending a trade mission of eight companies, while Grenada will debut a non-stop flight to Guyana beginning December 1—a move that promises to boost trade, tourism, and services between the two nations.
Walrond highlighted the importance of regional collaboration, noting that Guyana’s success on the global stage is a result of strong partnerships with countries across the Caribbean and beyond.
She also recognized the increasing role of the private sector in driving the country’s economic growth, thanking sponsors and exhibitors for their continued support.
As GuyExpo 2024 unfolds, it is clear that the event is not just a trade show, but a testament to Guyana’s rapidly evolving economy and its growing position on the global stage.
The expo’s focus on innovation, sustainability, and international partnerships reflects the nation’s vision for a bright and prosperous future.
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