The Private Sector Commission (PSC) is not against a Trinidad and Tobago business presence here but believes that before oil agreements are signed with other countries, Guyana should have an established local content policy, its executive members contend.
“We feel strongly that we must have a local content policy urgently, clear and stated before these agreements are signed,” former Chairman of the PSC, Eddie Boyer told Stabroek News yesterday.
“It’s a pity he [Prime Minister of T&T, Dr Keith Rowley) fell prey to the misunderstanding of the concerns expressed by the (Georgetown) Chamber of Commerce which essentially outlined the concern that we internally here in Guyana need to establish and agree on a local content policy before we as a country proceed and sign any trade MoU with any country especially now that we found oil,” another executive Gerry Gouveia posits.
Gouveia said that “in the spirit of the public/private partnership which exists here in Guyana” the PSC expected the “Government of Guyana to consult with stakeholders before signing a trade MoU” but instead “our Government chose to ignore the stakeholders and unilaterally proceed”.
The Guyana Government is still to finalise a local content policy for the oil and gas sector.
Last Wednesday, Georgetown and Port of Spain inked a long-awaited MoU on Energy Sector Cooperation.
But before the signing the Georgetown Chamber of Commerce and Industry (GCCI) lamented the delay in local content legislation that would give businesses here first consideration in providing services and goods for the growing oil and gas industry.
Sending its own draft of what it believes such a policy should entail, the GCCI also called for a hold to be placed on any MoU with Trinidad and Tobago until it had a clear idea of its content.
Subsequently, the GCCI met with Minister of Foreign Affairs Carl Greenidge who sought to assuage their fears and said that the MoU would be made public.
Following the signing, both leaders were asked how the MoU addressed the fears of local businesses that T&T was coming to take over their opportunities. President David Granger said that it was simply a means of collaborating where Guyana’s sister Caricom country would bring to this nation decades of experience, not only in oil production, but also in marketing, in gas production, oil spills and in dealing with multinational corporations. He stressed that there was no “sellout” of this country’s “family jewels”.
Rowley expressed disappointment in the stance taken by some saying that the move was made to ensure betterment for the Caricom populace “and to come up against that, is disappointing.”
“To the extent that there is any potential takeover, which I don’t think is happening or is going to happen, it is simply the participation of a good neighbour working with those who have the need for our presence, maybe our finance (and) our entrepreneurial skills,” he added, even as he reminded Guyana that his country had once bailed it out of millions in debt.
“I would be failing in my duty if I do not point out to any such point of view here in Guyana that we, in Trinidad and Tobago, are proud to have the record to show that as a small developing country, not being a member of the Paris Club, when Guyana sought relief at the Paris Club for debt forgiveness, we wrote off billions of Trinidad and Tobago dollars of Guyana’s debt,” he said.
“We are not holding that as any quid pro quo. We are treating that as circumstantial and we maintain our position that we are a friendly cooperating neighbour of Guyana,” he added, while noting that the write-off was done against the background of international pressures.
But while Rowley was quick to remind of the debt write-off, he omitted to mention that he had been opposed to such while he was in the Trinidadian opposition.
“Guyana has `picked the pockets of Trinidad and Tobago,’ Rowley had told the Inter Press Service News Agency in 1996. He had said then that he would like to see the money owed to Trinidad and Tobago repaid through assets such as forestry, land, rice and gold mining interests which he said Guyana had in abundance.
Gouveia made known that Guyana was a land with an affable population and “We love our Trini brothers and sisters and look forward to a long and fruitful working relationship with them in the decades to come based on mutual respect and in compliance with our local content policy.”
For Boyer, there is no argument about what Trinidad has done for Guyana but the message of local content seems to be lost and the focus is that Guyanese are afraid of a Trinidad and Tobago takeover.
“Nobody is afraid that they will come and override us but get a local content policy as kind of a bible reference as to what is to be right and what is to guide. Nobody should come and there are no clear guidelines and our people are left behind. Of course they are more advanced in the oil and gas sector but let there be some transfer of skills and that sort of thing,” he said.
“Just as they are asking for the MoUs we are asking for the local content policy as a framework before agreements,” he added.
Executive Director of the GCCI, Richard Rambarran says that the message must be clear that the Chamber welcomes foreign investors.
“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,” he said.
“The GCCI remains receptive to foreign companies and foreign investors, especially those which are interested in partnerships with Guyanese companies. However, it must be stated that this openness is based on the principles of equity and fairness and must be done in an atmosphere that is mutually beneficial. In particular, the Chamber is supportive of partnering with its Caribbean brothers and sisters in the spirit of regionalism, especially Trinidad and Tobago in the oil and gas sector, to effect a stronger, more integrated, Caribbean community. We continue to welcome all our Caribbean counterparts to the Chamber as Guyana remains open for business”, he added.
