SOME $10M in sponsorship has already been secured by the Ministry of Business for the upcoming Guyana Trade and Investment Exhibition (GuyTIE) 2018.

This was revealed on Wednesday at the Marriott Hotel, where sponsors and partners of the inaugural event met for a brief appreciation ceremony.

GuyTIE will run from September 19 -22 at the Marriott Hotel and has since been dubbed the “largest and most exciting Business-to-Business (B2B) trade exhibition ever held in Guyana.”

“I wish to, on behalf of the Ministry of Business, express my sincere appreciation to all our sponsors for coming on board for this very important event. We think it’s important and we believe that you see and recognise the importance of the event also,” said Business Minister Dominic Gaskin.

He said further that although GuyTIE is a “pilot event”, the ministry intends to facilitate its hosting on a continuous basis for the benefit of local businesses.

“Without the private sector there would be no Ministry of Business. We exist purely to serve the private sector and in doing so we seek outcomes that benefit the Guyanese economy and by extension the Guyanese people and Guyanese businesses and that’s what this event is all about,” he said.

The minister added: “As we proceed, we will be doing a ‘post-mortem’, we will see what went wrong and what went right. But its growing and it must get bigger and bigger; and it must become a signature event not just in Guyana, but in the entire Caribbean.”

The event’s key sponsors include Exxon Mobil, Demerara Distillers Limited, ENetworks, GTT and BK Group of Companies, Banks DIH, Caribbean Airlines Limited, Massy Group of Companies, GAICO, Digicel, Comfort Sleep, Sterling Products, Brass Aluminum and Cast Iron Foundry and Guyana Bank for Trade and Industry Limited (GBTI).

Meanwhile, those partnering for both technical and financial support are the Canadian High Commission, the United States Embassy and Caribbean Export.

Other local partners include the Caribbean Export Development Agency, The Guyana Office for Investment, the Guyana Tourism Authority, the Private Sector Commission, the Small Business Bureau; the Guyana Manufacturing and Services Association and the Georgetown Chamber of Commerce and Industry.

Even as additional funds from sponsors are still being collected, the involved parties are forging ahead in preparation for the event, which will see over 50 exhibitors. Already, 81 booths have been sold.

The sectors to be represented include agro-processing, chemicals and pharmaceuticals, construction, food and beverage, food processing, forestry and wood products, information and communications, printing and publishing, printing and packaging, tourism, arts and craft, energy, oil, banking and shipping.

The expo will draw participation from as far as India, Korea, Latin America and the Caribbean.

The business expo aims to promote local investment opportunities; prepare export-ready firms for export markets; and sell Guyana as a profitable business destination.

From September 20 to21, there will be strictly B2B sessions, which will see companies engaging the exhibitors but, on the final day, the expo will be open to the general public.

Persons wishing to attend will have the opportunity to purchase tickets through a special promotion at a cost of $1000, which can be obtained from GTT retail offices.