Guyanese, Barbadian, Surinamese business chambers ink cooperation accord

Last Updated on Friday, 6 August 2021, 21:13 by Denis Chabrol

The Chambers of Commerce of Georgetown , Barbados and Suriname have signed an accord under which they would work to boost trade and cooperate in a number of areas including oil and gas, the Georgetown Chamber said Friday.

The tripartite agreement was signed on July 30, 2021 by the Georgetown Chamber of Commerce and Industry (GCCI)  the Barbados Chamber of Commerce and Industry (BCCI) and the Suriname Trade and Industry Association (STIA)

“Under the tripartite agreement, the parties have also agreed to facilitate information sharing in the key areas of trade and investment, oil and gas, tourism and hospitality, agriculture, renewable energy, education, healthcare and occupational health and safety,” they said.

Barbados is a fledgling oil producer, but is a major tourism destination as well as a leader in solar and most recently wind energy. Guyana is also generating solar and hydro power on a small scale, but plans to revive plans for a 165 megawatt hydropower station at Amaila Falls.  Guyana and Suriname are poised to become major oil and gas producers with several large hydrocarbon discoveries offshore, in addition to being major agriculture producers-exporters.

The memorandum of understanding- which was inked at a virtual signing ceremony by GCCI President, Mr. Timothy Tucker, BCCI President, Mr. Anthony Branker and STIA Chairman, Mr. Bryan Renten- aims to enhance trade linkages and facilitate economic cooperation and collaboration among Guyana, Barbados, and Suriname.

The three business chambers said a Tripartite Working Group would meet every three months to develop programs and initiatives aimed at promoting sustainable trade and investment in the region. “The GCCI, BCCI and STIA will facilitate agreed activities for member companies which include capacity building initiatives, promotion of trade and investment activities in each territory, training and cooperation programs, and fostering strategic collaboration to increase competitiveness of industries,” the GCCI said.

The GCCI said the private sector is a key driver of regional trade and the local city Chamber looks forward to working closely with its counterparts in Barbados and Suriname to create opportunities for sustainable economic growth within the region.