PRESIDENT David Granger said his government does not have a problem making public the Memorandum of Understanding (MoU) for cooperation in oil and gas it intends to sign with Trinidad and Tobago.

“It is not a secret document, it is just an agreement to cooperate,” the President told reporters at State House on Wednesday. He noted that the MoU was vetted by the Department of Energy headed by Dr Mark Bynoe, and the Ministry of Foreign Affairs. “I will ask for that document to be released,” the President assured.

On Wednesday, it was expected that the MoU for cooperation in oil and gas would have been signed between the two CARICOM countries, along with a Framework Agreement for the deepening of bilateral cooperation, but the signing was postponed. Another date is being considered. The Georgetown Chamber of Commerce and Industry (GCCI) had publicly called on the Guyana Government not to sign the MoU last week, contending that it must first view the content of the ‘agreement.’

Amid the concerns of the GCCI, the Foreign Affairs Minister Carl Greenidge dispelled the notion that that MoU on the oil and gas sector was a binding agreement.

“The MoU itself is usually followed by more concrete arrangements between the relevant sectors, it is not by itself a binding instrument,” Minister Greenidge explained earlier this week.

Since last year, the government had signalled its intent of renewing the Framework Agreement for the deepening of bilateral cooperation with Trinidad and Tobago. The Framework Agreement was signed between the two parties in August 1999 in Port of Spain, Trinidad and was valid for 10 years initially and then renewed for five successive periods, but was never enacted.

“It was a 10-year MoU, it was signed and no riot occurred, no sector was destroyed, there was no apocalypse and I am sure this will not happen on this occasion either and the same thing applies to the MoU in relation to the Belt and Road Project,” Minister Greenidge added.

Days after issuing its call, GCCI, in a press statement, said it remains supportive of foreign investors in Guyana.

“The GCCI believes that foreign investors have played, and continue to play, an integral role in driving economic growth and national development. In an era of global business, the benefits of international cooperation in key areas of private sector development are undeniable. Technology transfer, skills development, international markets for goods and services are a few areas where readily, the engagement of foreign investors and companies can bode well for private sector development,” the GCCI said in a statement on Monday.
Noting that it is supportive of partnerships with Guyana’s Caribbean counterparts in the spirit of regionalism, the GCCI said it endorses collaboration with Trinidad and Tobago in the oil and gas sector.