“Strongest performance” as exports to China hike to US$501M – PM Phillips

China is fast becoming one of Guyana’s strongest trade partners and an increasingly important export destination, with growing trade figures between the two countries.

This is according to Prime Minister (PM) Brigadier (Ret’d) Mark Phillips, during a reception held on Thursday evening in Georgetown to celebrate the 77th Anniversary of the Founding of the People’s Republic of China.

Delivering the feature address, PM Phillips noted that Guyana’s growing economy has created greater opportunities for commerce with China, especially in the area of bilateral trade.

“In 2025, two-way trade between Guyana and China reached approximately US$1.8 billion, and Guyana’s exports to China grew to US$501 million – our strongest performance in trade to date, which raised China to the 8th spot as our largest export destination,” he noted.

Moreover, the PM stated that China also remains among Guyana’s leading sources of imports. In fact, as the local economy diversifies, he touted the increased scope to expand trading relations in the coming years between the two nations.

Similar sentiments were expressed by Chinese Ambassador to Guyana, Yang Yang, who noted that the two countries have aligned their development priorities more closely, becoming good partners in each other’s success.

Citing the high bilateral trade recorded last year, the Chinese diplomat said those figures are more than double the 2024 level. In fact, she went on to add that “…total investment by Chinese companies in Guyana stood at around US$13 billion.”

Ambassador Yang cited projects such as the US$260 million Bharrat Jagdeo Demerara River Bridge that has improved travel, the US$100 million Aurora Solar Farm that is expected to reduce diesel consumption by around 18 million litres annually, and Bosai Minerals Group’s recent donation of US$3 million worth of power-generation equipment to be among the tangible changes that Chinese investments have brought.

Innovation opportunities

The Chinese diplomat added that as China’s economy continued to expand, this development and modernisation was being shared with partners around the world. In fact, she noted that this is reflected in the Global Development Initiative mobilising more than US$23 billion in development funding over the last five years, with the implementation of over 1800 livelihood projects that benefited people in more than 120 countries, including Guyana.

According to the Ambassador, innovation is one of the areas in which Guyana is benefiting from China’s development. Currently, China is producing more than 45,000 new energy vehicles every single day, which she says are changing everyday life globally, including in Guyana.

“Our Guyanese friends can also see these changes for yourselves. More and more BYD vehicles are appearing on the streets of Guyana, while XPENG showcased its smart electric vehicles at Guyana Energy Conference. China never seeks technological hegemony, nor do we believe in a winner-takes-all approach. We are always ready to share the benefits of innovation with the world. To partner with China is to partner with opportunity,” she declared.

Similarly recognising the achievements that the strong cooperation has created locally, PM Phillips pointed to the enormous possibilities that lie ahead in the next chapter of the Guyana-China relations.

“Guyana brings to this partnership abundant natural resources, exceptional biodiversity, significant agricultural and energy potential, a strategic location, and, most importantly, the talent and determination of its people. China, for its part, brings extensive experience and expertise in technology, infrastructure, manufacturing, science, innovation, and global connectivity. The convergence of these strengths creates significant opportunities for a partnership that creates lasting value, supports sustainable development, and delivers meaningful benefits for both our peoples,” the Guyanese official emphasised.

In fact, he further highlighted China’s experience in renewable energy, smart infrastructure, modern transportation, and urban planning as areas that can complement Guyana’s ambitions to build cleaner, more efficient, connected, and climate-resilient communities.

“These possibilities remind us that the future of Guyana-China relations cannot be defined solely by what we have already achieved. Our history and friendship have given us a strong foundation. Our cooperation has given us valuable experience. And the opportunities before us provide compelling reasons to be ambitious about the future.”

“We have travelled a remarkable journey together. Today, we enjoy a multifaceted partnership, one that has demonstrated both resilience and relevance and a capacity to evolve with changing times and circumstances. We can take justifiable pride in the progress we have achieved together, while recognising that our greatest opportunities may still lie ahead,” PM Phillips declared.