Wednesday, January 19, 2022

Regional business groups ink MOU to enhance economic cooperation

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The Georgetown Chamber of Commerce and Industry (GCCI) along with the Barbados Chamber of Commerce and Industry (BCCI) and the Suriname Trade and Industry Association (STIA) on Friday signed a Memorandum of Understanding (MoU) aimed at enhancing trade linkages and economic cooperation amongst the three sister countries.

The tripartite MoU was signed during a virtual ceremony by GCCI President, Timothy Tucker; BCCI President, Anthony Branker; and STIA Chairman Bryan Renten.

OilNOW understands that under the agreement, a Tripartite Working Group comprising of representatives of the GCCI, BCCI, and STIA was also formed. The Tripartite Working Group will meet on a trimonthly basis for the purpose of developing programmes 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 programmes, and fostering strategic collaboration to increase the competitiveness of industries. 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,” GCCI outlined on Friday.

The local chamber noted that it welcomes the formalization of its partnership with the BCCI and the STIA while adding that it views it as an important milestone in the regional integration process.

The GCCI went on to add that the private sector is a key driver of regional trade and that it looks forward to working closely with its counterparts in Barbados and Suriname to create opportunities for sustainable economic growth within the region.

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