Guyana and China sign MoU on investment, economic cooperation

President Irfaan Ali (left) yesterday met with the Premier of the People’s Republic of China, Li Qiang, at the Great Hall of the People in Beijing.
The two leaders discussed several areas of cooperation and committed to strengthening bilateral ties. (Office of the President photo)
President Irfaan Ali (left) yesterday met with the Premier of the People’s Republic of China, Li Qiang, at the Great Hall of the People in Beijing. The two leaders discussed several areas of cooperation and committed to strengthening bilateral ties. (Office of the President photo)

As President Irfaan Ali today wraps up his eight-day visit to the People’s Republic of China, he reaffirmed Guyana’s firm support for the One China principle and told Beijing that Georgetown remained committed to expanding the already robust cooperation initiatives they share.

The two governments agreed “that regular meeting … was important for boosting bilateral cooperation and coordination on multilateral occasions” and a Memorandum of Understanding (MoU) was signed.

A joint statement from the two nations outlined the vast areas discussed when Ali met with China’s President Xi Jinping, and its Premier Li Qiang. It encompassed “bilateral, regional and international issues of mutual interest, expressing the shared commitment of the two countries to further deepening and broadening bilateral relations as well as advancing cooperation in the multilateral arena.

“In the discussions, both sides expressed satisfaction with the positive development of bilateral relations between the Cooperative Republic of Guyana and the People’s Republic of China. Both sides reaffirmed their commitment to further strengthening bilateral relations and expanding collaboration in a variety of fields. Both sides reaffirmed their respect for each other’s independence, sovereignty and territorial integrity, and support for their people’s choice of a development path suited to respective national conditions, based on the principles of mutual respect and mutual benefit, and in keeping with the purposes of the United Nations Charter and international law.”

According to the statement, “President Ali expressed gratitude to President Xi for China’s support in Guyana’s economic development, including in the area of infrastructure. Both sides committed to deepening economic ties, including enhanced trade and investment promotion, and to expanding cooperation in areas such as infrastructure development, agriculture, health, energy and education.”

The statement informed that both sides expressed the “firm conviction that greater international mobilisation was critical for bridging the economic divide between developed and developing countries, strengthening developing countries’ capacity to respond to shocks, and for reducing the incidence of poverty in the developing world.”

It was to this end that the MoU on the establishment of an Investment and Economic Cooperation Working Group was signed.

Ali, who led a delegation comprising government officials and private sector businesspeople, also visited Shanghai and Beijing.

The statement said Guyana “applauded China’s proposals of the Belt and Road Initiative, the Global Development Initiative, the Global Security Initiative and the Global Civilization Initiative.

“With reference to the Memorandum of Understanding on Cooperation within the Framework of the Silk Road Economic Belt and the Twenty First Century Maritime Silk road Initiative, signed between the two sides on July 27, 2018, the Guyana side expressed willingness to discuss and conclude the Joint Action Plan on Promotion of the Belt and Road Initiative with the Chinese side.” 

There was mutual praise as according to the statement, “the Chinese side applauded President Ali for the constructive role played by Guyana in regional and international affairs, especially on food security, regional integration and China-CELAC cooperation. President Ali shared with the Chinese side his conviction that keen attention needed to be paid by both developed and developing countries in promoting food, climate and energy security for sustained development. Both sides noted that the Global Development Initiative was one framework that could support the implementation of this objective.”

And recognising what they both believe is the positive role of infrastructure development in generating economic growth and alleviating poverty, both sides agreed to expand collaboration in this area.

“Both sides agreed to investigate the prospects for collaboration in the development and construction of critical infrastructure projects, leveraging China’s experience, and expertise and finance capacity. Both sides recognized the important value of trade and investment in deepening economic ties and committed to creating a favourable business environment to facilitate bilateral trade and investment activities. Both sides agreed to explore the possibility of expanding trade in a variety of industries, including agriculture, energy, mining, manufacturing, and services. Both sides recognized the crucial role of the business community of Guyana and China in driving economic development of the two countries. Both sides encouraged the business communities to take greater advantage of investment opportunities and forge partnerships,” the statement said.

“Reaffirming their mutual dedication to sustainable development and environmental protection, both sides pledged to deepen cooperation on forest conservation, biodiversity conservation, and the promotion of renewable energy. Both sides agreed to expand cultural and educational collaboration, emphasising the importance of people-to-people exchanges. To enhance mutual understanding and friendship between the two peoples, both sides undertook to foster collaboration between educational institutions, promote student exchange programmes, and support cultural activities. Both sides commended the advancements made in healthcare cooperation. Both sides agreed to expand their collaboration in the field of health by exchanging best practices and skills. President Ali paid high tribute to the Chinese medical teams for their service to the people of Guyana.”

And where China voted for Guyana and helped it to receive 191 of 193 votes as a non-permanent member of the United Nations Security Council, the statement said that Ali “expressed his gratitude for China’s support”.

While China is the world’s biggest polluter, both sides looked at global challenges posed by climate change. The statement said, “both sides reaffirmed their commitment to continuing their advocacy at the global level for combating climate change and promoting sustainable development.

“In this regard, both sides committed to expand cooperation in renewable energy, climate resilience and adaptation.”

Discussions were also held on “the implementation of the 2030 Agenda for Sustainable Development, noting that 2023 represents a milestone for its achievement.”

Pleased with the warmth meted out to him and the visiting party, Ali expressed, “sincere appreciation to the government and people of China for the warm hospitality accorded to him and the rest of his delegation during the visit.”