sign six MoUs to advance bilateral co-operation

THE Dominican Republic (DR) and Guyana signed six memoranda of understanding (MoU) on Tuesday, which Guyana’s President Dr. Irfaan Ali said would help the two Caribbean nations tackle regional crises more effectively.

Dr. Ali who led a high-level delegation of the private sector and government officials met with his counterpart, President Luis Abinader at the DR’s National Palace where agreements for the oil and gas industry, the establishment of an oil refinery, a petrochemical plant, and a study for participation in Guyana’s Oil Exploration Block were signed by the countries’ respective representatives.

Agreements were also signed to enhance the two nations’ agriculture, tourism and trade industries.

“These MoUs that we sign today [Tuesday] will be positioning us as two countries demonstrating our collective resolve in addressing some of the major crises our region and the world are facing today– the food crisis, the energy crisis and the climate crisis,” the Guyanese Head of State said during an address to the DR press.

He further noted that the MoU results from common ideas shared between the two countries.

“We positioned ourselves under the umbrella of common values, through democracy, the rule of law and advancing development that opens up opportunities for the people, [and] the private sector.”

Underscoring the importance of governments creating an enabling environment, Dr Ali said it is important that leaders send the right signals and build trust and confidence among private sector bodies.

“The tone that we set is imperative for the joint collaboration of our private sectors,” he said.

Dr. Ali further noted the countries will not limit their collaborations with memoranda of understanding and a working group will be further analysing other areas of collaboration.

Technology and the digitization of the world through artificial intelligence is one area that will be explored.

The MOUs

The first of the six MoUs signed between the two nations is an agreement for the DR government to study the possibility of exploring one of Guyana’s oil blocks.

The second agreement inked is for the establishment of an oil refinery. The DR government will take the majority share in this project, with a stake of 51 per cent.

The two countries will also work on the establishment of a petrochemical plant in Guyana.

Meanwhile, the Chief Executive Office of Guyana Investment Office, Peter Ramsaroop and the director of ProDominicana, Biviana Riveiro, signed an agreement to improve bilateral investment relations. This agreement will facilitate foreign direct investments.

Guyana’s Minister of Tourism, Industry and Commerce, Oneidge Walrond, signed an agreement with her counterpart Minister of Tourism, David Collado, to promote the development of the countries’ tourism industries.

Walrond also inked an agreement with DR’s Minister of Foreign Relations, Roberto Álvarez, for trade co-operation.

Agreements were also signed for the joint production of corn, soya beans, poultry and agricultural products.

Dr. Ali’s visit was planned since June of the same year when President Abinader travelled to Guyana with numerous businessmen.

First Lady Arya Ali; Foreign Secretary, Robert Persaud; Chief of Staff of the Guyana Defence Force (GDF), Omar Khan; Commissioner of Police, Clifton Hicken; National Security Adviser, Gerald Goveia; Director of Presidential Affairs, Marcia Nadir-Sharma; Director General of Guyana’s Agriculture Ministry, Madanlall Ramraj; Director of the local content secretariat, Martin Pertab, Legal Officer at the Ministry of Natural Resources, Micheal Munroe, and Chairman of the New Hayven commercial, Floyd Haynes accompanied the Head of State.