Guyana, Canada strengthen economic, commercial ties

Canada has reaffirmed its support for Guyana’s development agenda through the renewal of a bilateral agreement between the two nations.

According to a joint press release issued by both parties on Thursday, this move will facilitate cooperation, participation in discussions, and the exchange of information related to the procurement of Canadian goods and services.

The Memorandum of Understanding (MoU) was signed by Senior Minister in the Office of the President with Responsibility for Finance and the Public Service, Dr Ashni Singh, and Director of Business Development and Infrastructure at the Canadian Commercial Corporation (CCC), Boris Jacouty.

The agreement will remain in effect for a period of eight years.

Both sides noted that the renewal of this MoU underscores the commitment of both nations to fostering a robust and mutually beneficial partnership.

“By facilitating cooperation and information exchange, the MoU aims to enhance procurement processes and ensure the efficient delivery of high-quality Canadian goods and services to Guyana,” the release stated.

Dr Singh noted that this renewed MoU represents a significant step forward in ongoing efforts to strengthen the economic and commercial ties between Guyana and Canada. He added that he looks forward to continued collaboration and the positive impact this agreement will have on procurement processes.

He further stated that the government anticipates greater economic and commercial relations, as well as increased opportunities for Guyanese companies to do business with Canada. He cited that Canadian investors and business institutions have been active in the Guyanese economy for decades and have contributed significantly to its economic development.

Canada’s High Commissioner to Guyana, Sebastien Sigouin, noted that Canada supports Guyana’s ambitious development agenda, and that the two countries must work together to identify trade and investment opportunities.

He pointed out that extending the MoU demonstrates the commitment of both Guyana and Canada to deepening their relationship, and that the government-to-government partnership can be beneficial.

Jacouty also stated that the CCC is committed to supporting Guyana’s development goals by providing access to Canadian expertise and high-quality products.

“This agreement will further solidify our partnership and create new opportunities for both countries,” he said.

“The Government of Guyana and the CCC are confident that this renewed MoU will contribute to the continued growth and prosperity of both nations, fostering a dynamic and collaborative economic relationship,” the release added.