–President Ali says

NOTING that Guyana sees China as an important part of the country’s energy equation, President Dr. Irfaan Ali encouraged the world’s second largest economy to be part of Guyana’s public bidding process in the auction of 14 offshore oil blocks.

Guyana has already seen quite a lot of interest generated in the new bidding round, which was launched in early December 2022, and is scheduled to run until April 2023.

“We continue to encourage China, as we encourage every single one, to participate fully in the public bidding process of this energy platform that we’re developing at the global scale,” President Ali said.

The Head of State encouraged China to throw their hat in the ring, as he discussed Guyana-China relations with Wang Guan on The Leaders Talk, a flagship programme of the China Global Television Network (CGTN).

Speaking about energy cooperation with China, going forward, President Ali said he sees China as a “very critical” partner for Guyana in the energy sector, not only as it pertains to the development of the country’s oil-and-gas industry, but also when it comes to the area of renewable energy.

“Cooperation is very critical; China has the technology and the resource, from a capital perspective and from a human resource perspective, to fast-track and accelerate investment in greener energy providers. For example, hydropower, solar, and wind,” the President said.

Given the sheer large-scale nature of the projects in the energy sector and a void of human resource and technical expertise in developing countries, the support from developed countries such as China for energy initiatives is imperative.

The President pointed to Guyana’s ongoing plans to develop an energy corridor with Suriname and northern Brazil as one such large-scale project where there exists room for China to invest.
“A great problem of the developing world is the capital cost for some of these alternative energy solutions, so what China has to do is to work at the global scale in supporting these alternative Energy initiatives,” the President noted.

Aside from assistance in the energy sector, the President pointed out that with the world also facing a climate crisis, food crisis and inequality crisis, there exists much scope for China to provide leadership and technical assistance.

Noting that China is an important development partner for Guyana, President Ali conveyed that the relationship between Guyana and China has been an evolution built not only on economic prosperity, but mutual social, political, and cultural advancement of both countries.

Bilateral trade between Guyana and China grew an impressive 123 per cent in 2021, amounting to US$700 million. President Dr. Ali is said to have described the China Guyana relationship as imperishable.

“China is an important bilateral partner for Guyana. The Chinese business Community is integrally integrated into economic and social framework of Guyana,” the President related.

“In every area if you look at the trade and commerce you will see a lot of Chinese investors.  In every area of development, in any area of advancement in the country you would see Chinese investors or Chinese nationals playing an important part.”

According to the President, the Chinese contribution to Guyana is as rich and diverse as the six people of our country, and has influenced all aspects of national life. This is due to the government having an equal and respectful platform, in which the investment and presence of Chinese nationals in Guyana has not only been welcomed but supported.

“We are not just host to Chinese investments; we have people-to-people link. Chinese people are part of our country, part of the diversity of our country, part of the bloodline of our country. So when I said that, I meant that from a people perspective, from a country perspective, from a human perspective; Chinese are an equal part of Ghana because they make up the six people.”