THE Government of Guyana hosted a high-level delegation from Ghana which was led by Vice-President Dr. Mahamudu Bawumia. The purpose of the visit, according to President, Dr. Mohamed Irfaan Ali, is to deepen relations between the two countries and to remove hindrances to business development.

At a meeting held on Monday, December 6, 2021 at the Arthur Chung Conference Centre between representatives of both governments and the private sector, the parties agreed to examine ways of bolstering bilateral relations and generating business investment opportunities.

According to President Ali, the Government of Guyana is pleased to be part of the process that not only seeks to integrate the peoples of the two countries but also to integrate the private sectors of the two countries. Such linkages will be important in terms of finding common ground where mutual opportunities can be examined and joint strategies built.

The private sector in Guyana has long been regarded as the engine of growth after having been sidelined by the former PNC regime for several decades. Following the ascension of the PPP/C on October 5, 1992, the private sector once again began to flourish and several policy measures were put in place to remove bottlenecks to private sector development. Several fiscal incentives were provided to the sector and an enabling environment was created for the sector to grow and develop. As pointed by President Ali, while it is the responsibility of the government to make policies and create the environment conducive for private sector development, it is the private sector that will have to take advantage of investment opportunities and have these opportunities implemented.

President Ali re-affirmed his commitment and that of his administration to remove all bureaucratic red tape in order to expedite business opportunities. In that regard, both governments agreed to make the functionaries of government and the system of government accessible to the private sector of both countries. President Ali stressed that the intention should not only be growing a business in Guyana or Ghana but combining efforts and economies to become more significant players on the international market.

The Guyanese Head of State underscored the importance of following through on agreements. In this regard, he indicated that both Dr. Bawuima and Vice-President Dr. Bharrat Jagdeo will work on a framework agreement that examines how engagements, which include shared prosperity and common outlook, are going to be made.  These include, but are not limited to, reducing disparity, inequality, hunger reduction, capacity-building and reducing energy cost.

Diplomatic relations between Guyana and Ghana were officially established on May 14, 1979. Both countries share a number of economic and cultural similarities and it is only natural for the two countries to deepen that bond of friendship and kinship that existed between the two countries.

Both Guyana and Ghana can learn from the experiences of each other given the fact that both countries emerged from decades of British colonial rule and are now oil-producing nations and can therefore benefit from each other’s experiences and expertise. Ghana, formerly The Gold Coast, achieved its political independence from Britain in 1960, six years ahead of Guyana which gained its independence May 1966.

Ghana, under the leadership of Kwame Nkrumah played a key role in the anti-colonial struggles and was a founder member of the Non-Aligned Movement along with Indian Prime Minister, Jawaharlal Nehru; Yugoslav President, Josip Brotz Tito and Egyptian President, Gamal Abdel Nasser. A monument in honour of these founder members is situated on the corner of Republic Avenue and Church Street in Georgetown as a reminder of the principles of peaceful co-existence.

Guyana, in particular, being relatively new to the business of oil and gas, can learn a thing or two on how to manage the booming oil sector in a way that will benefit the country as a whole while at the same time avoiding the dreaded ‘Dutch Disease’  which has been the pitfall of so many oil-producing nations.