A major pharmaceutical trade mission from the European Union (EU) will be in Guyana this June, a key exchange likely to support Guyana’s plans to produce its own vaccines.
EU Ambassador to Guyana, René van Nes, announced the mission’s plans during remarks at the Guyana Manufacturing and Services Association (GMSA) Annual General meeting.
He highlighted that the mission will focus exclusively on pharmaceuticals and healthcare.
“In June, we will have a trade mission that will only look at pharmaceuticals and health, so we will have 20 companies coming to meet you, meet the private sector in Guyana to see if they can find ways to work together and to possibly find opportunities to invest in Guyana,” Ambassador van Nes said.
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Furthermore, he noted that this initiative is part of a broader strategy under the EU’s Global Gateway strategy.
This strategy stands for sustainable and trusted connections that work for people and the planet. It helps to tackle the most pressing global challenges, from fighting climate change to improving health systems and boosting competitiveness and security of global supply chains, the European Commission explained.
Ambassador van Nes explained that the Global Gateway is a new way of cooperating with countries outside of the EU.
“The Global Gateway is about making sure the leverage money, which is grant money, that we leverage the money to make much bigger projects. So instead of funding a project for 10 million euros, we would now invest that 10 million euro in a feasibility study, which would then allow the private sector to come in and invest hundreds of millions of dollars,” van Nes explained.
One such area of focus is pharmaceuticals.
The Ambassador acknowledged that the lack of a robust regulatory framework makes it difficult for the private sector to invest in pharmaceutical production in countries like Guyana. To overcome this barrier, the EU has taken steps similar to those implemented successfully in Rwanda.
“After COVID, the EU decided to help other countries start to produce their own medicine and vaccines. We did that in Rwanda. We invested, and now, with a regulatory framework in place, they are producers of vaccines,” van Nes said.
Guyana is set to replicate this model.
During the 48th Regular Meeting of the Conference of Heads of Government of CARICOM in Barbados in February 2025, Guyana, Barbados, and Grenada signed an agreement with the EU, marking significant strides towards regional development and cooperation.
This agreement will see Lithuania providing technical assistance to Guyana and Barbados in the area of pharmaceutical regulatory services.
The pharmaceutical trade mission in June is a crucial next step in this effort. The goal is to connect Guyanese businesses with European pharmaceutical companies, Van Nes stated.
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