PASSAGE of the Anti-Money Laundering and Countering the Financing of Terrorism Bill (AML/CFT) is a must, Russian Ambassador Extraordinary and Plenipotentiary, Mr Nikolay Smirnov, advised Prime Minister Moses Nagamootoo during a courtesy call yesterday.Speaking with the Prime Minister at the PM’s office located within the Ministry of the Presidency, Ambassador Nikolay Smirnov formally congratulated Prime Minister Moses Nagamootoo on his recent accession to the office of the Prime Minister and first Vice President of Guyana.

“It is an honour to congratulate you in person, and on behalf of my Government, with this appointment of Prime Minister and Vice President of Guyana. Guyana and Russia has an excellent friendship and a good relationship for decades. This year, in December, we will be celebrating the 45th anniversary of established diplomatic relations here in Guyana”, the ambassador related.

He also said that although the two countries are far apart in terms of geography, “we have links between our people, and right now in Guyana, there is a delegation from our Friendship University known as The Peoples’ Friendship University of Russia (PFUR).”

He noted that the university is the third largest university in Russia, and was established some 65 years ago.

Speaking on some of the history the two countries enjoy as it relates to education, the ambassador said, “Since its (PFUR University) establishment, more than 116 Guyanese students have graduated from the university, and currently, there are six students studying at the university.

“We have longstanding bilateral trade and other economic relationships. The bilateral trade is not huge, it is on the level of approximately US$2M.”

Smirnov explained that the Russia Company Rusal is currently enjoying a joint venture with Guyana wherein its investment in bauxite is some US$130M; and “we have done more than 10 years of exploration in bauxite,” he declared.

He noted that, only recently, Russia has embarked on another bauxite venture, and this company currently employs directly and indirectly over 1000 Guyanese. “We made some specific suggestions to Government of Guyana in the hydro-electrical field, because we have quite (some) experience in Russia in this field,” he disclosed.

A priority for the Government of Russia is the passage of Guyana’s Anti-Money Laundering and Countering the Financing of Terrorism Bill (AML/CFT), the Ambassador stressed.

“It is a must; we have previously saved Guyana from being blacklisted. This passage is a necessity so as to safeguard the country and your investments,” he urged.

Prime Minister Moses Nagamootoo thanked Ambassador Smirnov for taking time out to facilitate the visit, and assured him that the good relationship that presently exists between the two countries will continue.

He also noted that the relations have endured very difficult times, but said there are no negative issues between the two countries.

PM Nagamootoo also assured the ambassador that the passage of the Anti-Money Laundering and Countering the Financing of Terrorism Bill (AML/CFT) is of paramount importance to the Government; and he said that in the near future this legislation will be passed. (Rebecca Ganesh)