While participating at the Offshore Technology Conference (OTC) in Houston on Wednesday, May 4, Guyana’s Private Sector Commission (PSC) and the United States Bilateral Chamber of Commerce agreed by way of a Memorandum of Understanding (MoU) to advance trade and investment in various sectors.
The MoU was signed by PSC Chair, Paul Cheong and Aida Araissi, Head of the US Bilateral Chamber.
The signing was witnessed by Minister of Natural Resources, Vickram Bharrat; Sarah-Ann Lynch, U.S. Ambassador to Guyana; ExxonMobil executives, Dr. John Ardill and Alistair Routledge; and Dr. Peter Ramsaroop, Head of the Guyana Office for Investment (GO-Invest).
The terms of the MoU state that the Bilateral Chamber of Commerce and the Private Sector Commission will leverage their combined resources to strengthen economic relations between the United States and Guyana.
The MoU states that both parties will endeavor to promote trade and investment across sectors, including infrastructure, healthcare, industry and education.
Additionally, the Chamber and the PSC are expected to work together in the coming months to organise more trade missions that bring together businesses from the U.S. and Guyana.
Following the signing, Ms. Araissi said, “We are proud to be ranked as a top producing contractor for the US Trade and Development Agency (USTDA). Our Bilateral Chamber and USTDA programmes represent over US$100 billion dollars of exported U.S. goods, services, and advanced technologies and we’re looking forward to bringing that kind of expertise to Guyana, to grow the local content.”
Expressing similar sentiments as regards the opportunities that lie ahead was Mr. Cheong. He said, “Today is a historic day. We will work on building a partnership that members of both sides will be proud of. This is just the beginning.”
The Bilateral Chamber, located in Houston, Texas, has an expansive network of more than 36,000 subscribers, representing small to large enterprises. The Chamber is a trusted partner to the U.S. Trade and Development Agency; the U.S. Departments of Commerce, State, and Energy, as well as trade development agencies in key markets around the globe.