India

March 4, 2023

MOU to deepen energy relations

Pending approval by India’s cabinet of a proposed Memorandum of Understanding (MOU) to deepen energy relations between Georgetown and New Delhi, Foreign Minister of the first Commonwealth republic, Subrahmanyam Jaishankar will visit Guyana to sign the document.

The MoU concerns a number of issues.    The MoU will deal with exploring the possibility of trading in crude oil, that is [the] sale of crude oil, but we agreed with the minister that this has to be beneficial to both countries and it has to follow market conditions.

“There is no agreement to sell any oil to India at this point in time. Any such agreement in the future will have to be competitive and will have to benefit both parties,” said Vice President Bharrat Jagdeo, on his return from India.

Vice-President Bharrat Jagdeo told media that GUYANA will sign a Memorandum of Understanding with India to boost cooperation in the energy sector, when India’s Minister of External Affairs Dr Subrahmanyam Jaishankar visits Guyana to ink the MoU. awaiting approval by India’s cabinet.

Dr Jagdeo recently returned from India, where he led a high-level delegation to advance discussions on bilateral cooperation. The visit continued engagement between the two countries after the official visit of President Irfaan Ali, in January.

Guyana is also considering the purchase of defence capabilities from India to help preserve and protect its oil-and-gas sector, marine borders and exclusive economic zones. These are are primarily for peaceful purposes and for controlling maritime boundaries or exclusive economic zones. The energy MoU will enhance bilateral cooperation and will not only cover crude oil, but the whole energy sector from renewable energy to solar energy.

“The MoU will deal with a number of issues. It will deal with exploring the possibility of trading in crude oil, but we agreed with the minister that this has to be beneficial to both countries and it has to follow market conditions.”

However, “there is no agreement to sell any oil to India at this point in time, and any such agreement in the future will have to be competitive and will have to benefit both parties. India has an enormous capacity in many areas and we hope to benefit from the strengthening of the regulatory regime; their expertise in strengthening the regulatory regime here for the oil-and-gas sector, as well as building capacity in the Ministry of Natural Resources.”

Guyana and India have a shared history through the British Empire, with India celebrating 75 years of independence on 15 August 2022 for a year until 15 August 2023. Caricom benefits from the deep and vibrant people-to-people ties with India, fostered by the living bridge of over 3.5 million Indian diaspora in the Western Hemisphere.

Caricom /India relationship is mutually beneficial, ranging across development, regional stability, trade, investment and reform of the global international systems. They share core values of democracy, pluralism and tolerance and will further strengthen a special bond. With over 3 million people of Indian origin in the Western Hemisphere where they are a plurality of the population in Trinidad & Tobago, Guyana and Suriname, Indian investors are welcome.

India played a major role of in the pandemic vaccine distribution and their peaceful culture of knowledge, faith and family values is an antidote to the materialism of communism and a bulwark against despotism.

The burgeoning energy sector in Guyana is one of the most critical and promising areas of the economy. With the recent discoveries of extensive offshore oil reserves, Guyana has become one of the most significant players in the global energy market.

The Vice-President announced that the upcoming reclaiming of 20 per cent of the giant Stabroek oil block from the ExxonMobil-led consortium will open more windows for bilateral partnerships. India, Qatar, Kuwait, the United Kingdom and the United Arab Emirates (UAE) have already expressed their interest.

“So we have made no definitive decision on the 20 per cent being relinquished, that those would be all available for bilateral engagements or auction, although they are potentially available for the discussions at the bilateral level. And that is what we spoke of in India. We have also indicated to several other governments that are interested in participating at a bilateral level with us, because we believe that some bilateral engagements could complement the more commercial-type engagements with the private sector.”

ExxonMobil’s contract allows Guyana to reclaim unexplored portions this year. The Exxon group has missed investment deadlines for portions of the block not under exploration or development. Under the terms of the licence, Exxon must relinquish a minimum of 20 per cent of the contract area not retained under an exploration or production licence.

The Stabroek Block is 6.6 million acres (26,800 square kilometres), with its gross recoverable resource now estimated to be more than 11 billion oil-equivalent barrels, including Liza and other successful exploration wells. The government hopes to award the contracts by the end of May. Guyana is among 65 countries that will be launching the auction of oil blocks.

The 14 blocks for auction range in acreage from 1,000 sq. km to 3,000 sq. km, with 11 in shallow water and three in deep water. The bidders will be evaluated on their work programmes, financial offers, and local-content commitments. There are no restrictions on the number of bids a company is allowed to submit but a successful bidder will be limited to an award of up to three blocks.

There is a participation fee of US$20,000 for the bidding process for each block.The winning bidders of the shallow-water exploration blocks must pay a minimum of US$10 million signing bonus, and twice that amount for the deep-water blocks. Bidders will be required to provide a development plan for consideration, along with their financial bids.Under the new fiscal terms and other conditions for future Production Sharing Agreements (PSAs), successful companies will be subjected to 50 per cent profit sharing, a royalty rate of 10 per cent, and corporate tax of 10 per cent, among other things.

 

Vishani Ragobeer selected for India programme

Mar 23, 2023

Senior journalist at the News Room, Vishani Ragobeer, is among three persons from Latin America and the Caribbean selected by the Indian Government to attend a one-week familiarization tour of India. Theresa Gordon, a journalist and news producer from NEWSCO Limited (OBSERVER Group), Antigua & Barbuda and Adelcia Connor-Ferlance, Press Secretary within the Office of the Prime Minister of St. Kitts and Nevis, joined Ragobeer on the programme.

The Indian High Commission noted that this programme is expected to give them a range of experience and interaction with the political, economic and business, cultural, educational and media sectoral leadership, as well as exposure to modern India as a whole.

Ragobeer, a University of the West Indies (UWI) graduate worked at News Room since May 2021, covering Oil and Gas, Education, Health, Politics and Climate Change issues.

Two other Guyanese nationals were selected to travel to India to participate in the Indian Technical and Economical Cooperation (ITEC) Programme.

Ria Bisnauth, a Special Project Officer with the Guyana Forestry Commission, will travel to Indiranagar, Bengaluru to commence a two-week course on Climate Change Policy Development and Financing at the Environment Protection Training and Research Institute.

Kumar Kissoon, a Finance Manager with Teleperformance Guyana will begin his two-week course on Dynamics of High Performing Teams at the Jaipuria Institute of Management in Lucknow.

 

 

USA promotes stability, prosperity

Jason Smith speaking on FridayJason Smith
March 21, 2023

The chairman of the US House of Representatives Ways and Means Committee, Jason Smith told a reception at the US Ambassador, Sarah-Ann Lynch’s residence, that America cares greatly about Guyana’s stability and prosperity.

Following a meeting with President Irfaan Ali and members of the government, the committee then proceeded to the reception held in their honour. With President Ali, Vice President Bharrat Jagdeo, and a number of Cabinet members present, Smith stated:

“We are all on the same time zone, we are all friends, we are all neighbours, there is no country that cares about your stability and your prosperity more than the United States always remember that and don’t forget it.”

In 2021. New York Stock Exchange delisted yet another PRC company from its index. Shares in the CNOOC—China’s third-largest oil company and its largest offshore oil producer stopped trading. The delisting results from an executive order signed by former President Donald Trump last November, which claimed that PRC companies were owned or controlled by the military, PLA.

It’s the fourth Chinese company to be delisted. In January, Wall Street said it would end trading of shares in China Mobile, China Telecom and China Unicom to comply with Trump’s order. They have since ceased trading

 

 

Last Two PRC SOC to Delist from NYSE

By Michelle Chan January 13

There will soon be no more Chinese state-owned companies trading on American stock exchanges.

The last two remaining—China Eastern Airlines and China Southern Airlines— said they would apply to delist their American depositary shares from the New York Stock Exchange, following other Chinese state-owned firms that delisted last year.

The moves came after a U.S. audit regulator’s determination last month that it secured complete access to inspect China-based audit papers, including those belonging to state-owned firms. In separate filings, the two airlines cited commercial reasons for the decision, including the limited trading volume of their U.S.-listed shares and the administrative costs of maintaining the listings.to the filings.

Thus it would seem the future of CNOOC in Guyana is uncertain and its days are numbered in Caricom.

Options include selling its Stabroek interest to Exxon, Hess, or investors bidding for new blocks including Shell, Chevron, Petrobras and Tullow.

The “golden era” of relations between PRC and Britain ended with creeping authoritarianism of the CCP and its threat to British values. The UK blocked five PRC state-linked firms from any role in a UK scheme to rebuild Ukraine.
Britain blocked the takeover of an electronic design company by a Hong Kong firm and banned Huawei and CGTN. Britain, USA, Canada, Belgium and India ban the PRC -linked App TikTok following claims that its parent ByteDance is influenced by Beijing..

PRC demands loyalty from all businesses based in the country where intelligence laws requires firms to help the Communist Party. PRC also blocks Western social media apps as Facebook, Instagram and Twitter.

The current visit of the PRC leader to Moscow aggravated tensions with Western democracies as the ICC issued an arrest warrant for war crimes by the Russian president.
PRC is embedded in Commonwealth states including Caricom where it invests in energy and infrastructure, maximising leverage on its diaspora in Confucius Institutes, government and in strategic resources.

America is a critical counterweight to totalitarian tyranny, as ex colonies of Britain opt for republican status. The US should acquire Caricom as an unincorporated territory, repatriate diaspora to AU domiciles of origin as reparation for historic woes and develop naval bases to protect the region from autocratic regimes.

 

 

World Bank

March 14, 2023

Approximately $1.8 billion in contracts inked to further develop agri. sector

Almost $1.3 billion for rehabilitation of drainage catchment at Liliendaal, Ogle under World Bank-funded Flood Risk Management Project (FRMP).

The Ministry of Agriculture inked six contracts worth $1,793,905,190 to further develop the agriculture sector. Of these, the ministry’s Agriculture Sector Development Unit signed a contract with General Engineering Supplies and Services Inc. worth $1,288,805,122 for the rehabilitation of the Liliendaal and Ogle Drainage Catchment areas in Region Four. An additional contract for $43,770,000 was signed with Caribbean Engineering and Management  (CEMCO) for supervision of the works.

These works are part of the government’s Flood Risk Management Project  and are being executed through funding from the World Bank.

Agriculture Minister, Honourable Zulfikar Mustapha said that the projects form part of the overall development agenda for the sector.

While speaking specifically on the FRMP, Minister Mustapha said the government is aware that continuous work was needed to improve drainage systems in vulnerable areas and that, since assuming office critical infrastructure has been built or rehabilitated to support these efforts.

“This project from the World Bank is a continuation of the government’s partnership with the World Bank and other funding agencies to improve the drainage system in vulnerable areas. Over the years and more recently, Guyana has been experiencing the effects of climate change. A number of areas were affected by flooding like in 2005 when central Georgetown and the East Coast suffered one of the most devastating floods. Then in 2021, we suffered another devastating flood. As a government, we are very cognizant of the fact that we have to improve our drainage system. ..over the last two and a half years we’ve seen a number of pump stations being constructed, new pumps, canals, sluices, and other structures have been constructed or rehabilitated and as we continue to improve the drainage and irrigation ..we are seeing more and more development in the sector.”

The objective of the Flood Risk Management Project is to reduce the risk of flooding in the low-lying areas along the East Demerara corridor.

World Bank Country Representative in Guyana, Ms. Diletta Doretti said that the awarding of the contract to a local company demonstrates Guyanese contractors’ ability to effectively execute works of this magnitude. She stated that the project aims to decrease flood threats in vulnerable areas in Region Four.

“Through the signing of this contract, the Ministry of Agriculture will focus on the rehabilitation of the Ogle – Liliendaal drainage catchment area, in particular of the operation of the pumping station at Liliendaal and the rehabilitation of the sluice gates at Ogle. The contract which is valued at over US$6 million was awarded to a local contractor hence demonstrating the capacity local Guyanese companies have in this area and in general in construction.

“Through this project, the Guyana Flood Risk Management Project, the government is contributing to decreasing the risk of flood risk in the great area of Georgetown which is very important as the area of Georgetown is expanding quickly. The World Bank is also supporting the government by providing technical assistance with the development of a complimentary master plan related to the Georgetown metropolitan area which will be completed shortly. This master plan will provide a comprehensive assessment and option for long-term and high-priority investment in areas that have to be rehabilitated and will complement existing work done under the Guyana Flood Risk Management Project.”

Rehabilitation works at Liliendaal will include repairs to the control panel, inspection, and replacement of both of the 4.2 cubic meters per second pumps and/ or pump components. The new works will include the construction of a modern pump station and the installation of two electrically driven pumps, each rated at 2.27 cubic meters per second, equivalent to 35,000 gallons per minute. This capacity will contribute to draining areas as far back as Sophia and is expected to prevent flooding in the wider Liliendaal basin.

The direct beneficiaries will be approximately 45,000 residents between Ogle/Goedverwagting and Liliendaal, inclusive of Sophia to the south,

Contracts were signed by the National Drainage and Irrigation Authority (NDIA) with NP Investment totaling $57,045,750 for the construction of a drainage structure at Palmyra in Region Three and M Sukhai Contracting Services totaling $19,921,960 for the construction of a revetment along the Lamaha Canal in Georgetown.

The National Agriculture Research and Extension Institute (NAREI) signed a contract with Agrosol totaling $185,000,000 for the construction of 100 tunnel houses

The ADSU signed a contract with Anil Lalsa Construction totaling $199,662,358 for the construction of office and laboratory spaces to support the Guyana Food Safety Authority.

 

 

 

Oil to fund consortium vacations

Mar 16, 2023

The Production Sharing Agreement (PSA) for petroliferous Stabroek Block gives ExxonMobil and its partners power to fund bills including staff holiday expenses, an established industry practice in Production Sharing Agreements (PSAs) In some cases, regulators must give their permission for certain costs that can be recovered by the company. Those eligible costs are determined by the state.

In other cases, an agreement can specify a number of costs that can be cleared without permission and there is a plethora of such expenses in the 2016 Stabroek Block Production Sharing Agreement. ExxonMobil and its partners can recover the gross salaries and wages including bonuses of employees. Costs regarding holiday, vacation, sickness and disability payments are also recoverable.

Exxon and partners can recover the cost of established plans for employees’ life insurance, hospitalisation, pensions and other benefits of a similar nature customarily granted to the employees of the Parties comprising the Contractor.

Oil companies can recover reasonable travel and personal expenses of employees including for location of the Expatriate Employees assigned to Guyana. Any personal income tax owing to Guyana by employees of the Parties and paid or reimbursed by Exxon and its partners is cost recoverable.

While companies have the power to recover several costs without permission, the only safeguard against abuse is the execution of timely audits. The 2016 PSA allows Guyana to do audits within a two-year timeline.

There are currently two ongoing audits—one by IHS Markit for historical expenses incurred from 1999 to 2016 totalling US$900M and another for US$7.3B incurred from 2018 to 2020 by a group of local consultants, Ramdihal and Haynes Chartered Accounting and Professional Services Firm, Vitality Accounting and Consultancy Inc., and Eclisar Financial & Professional Services. They were hired last year to conduct the audit alongside the Oklahoma-based Martindale Consultants Inc. and the Swiss technical company, SGS. The value of the contract is US$751,000. The audit costs reviewed covered the US$3.7B Liza Phase One Project fully and part of the expenses plugged for the US$6B Liza Phase Two Project.

Vice President, Dr. Bharrat Jagdeo confirmed that the government’s auditors completed their assessment of ExxonMobil Guyana’s recovery of its US$7.3B investments. The affiliate company has two months to respond to the government’s findings.

 

 

IDB

March 7, 2023

GUYANA signed three loan agreements with the Inter-American Development Bank (IDB) to access over US$220 million in financing for enhancements along the East Bank Demerara (EBD) Highway, strengthening of the healthcare sector and national quality infrastructure (NQI).

The agreements were signed in Trinidad and Tobago on the sidelines of the IDB Group’s XI Consultation of Caribbean Governors by Minister for Finance, Dr. Ashni Singh on behalf of Guyana, while IDB President, Ilan Goldfajn, signed on behalf of the lending institution.

Goldfajn related the bank’s pleasure to be entering the agreements that will contribute to massive development in Guyana.

“These loans are in the areas that are priority areas. Guyana is growing and we are very lucky to be part of this growth.”

Dr. Singh thanked the IDB for its strong support to Guyana’s development effort.

“The IDB has been a reliable and dependable development partner to Guyana over the long term. The strength of this partnership is evidenced not least in the three agreements we are going to be signing today, supporting critical investment in three areas that go to the core of Guyana’s government’s development agenda. These are three extremely important operations and we want to thank the IDB for your support and we look forward to continued and strong support in the months and years ahead.”

The first individual loan contract is for financing under the “Health Care Network Strengthening” in Guyana, where the bank will finance up to US$160 million through the Conditional Credit Line Investment Project (CCLIP) and up to US$97 million in the first individual operation with resources from its ordinary capital. The objective of this programme is to improve the health of the Guyanese population through increased access, quality and efficiency of health services. This investment will support expansion of the capacity of seven hospitals across coastland and interior communities, extend coverage of diagnostic exams and medical consultations, advance medical services, and increase access to a more efficient public health system.

This project is expected to benefit a significant portion oft he population including the Indigenous communities, with interventions in all 10 of the country’s regions.

“This investment is in the public healthcare system, in particular the rehabilitation and or expansion and or establishment of new hospitals in seven different areas including in remote areas in Guyana, and in particular the deploying Information, Communication and Technology (ICT) for telemedicine solutions which is an excellent innovation, will completely transform the healthcare enjoyed by the remote population in Guyana,” Dr. Singh stated.

The second loan contract is for the “Programme to Support Climate Resilient Road Infrastructure Development”, which will advance Guyana’s safe, efficient and climate resilient road and associated infrastructure. The bank will finance up to US$117 million with resources from its ordinary capital. The specific objectives are to improve road service quality and utility service, along the East Bank Demerara corridor through road and corresponding utility infrastructure improvements.

The EBD corridor is critical for increased economic activities and connectivity to the Cheddi Jagan International Airport, the Soesdyke to Linden Highway and future development of Silica City, an initiative of President. Irfaan Ali.

“This is for transportation infrastructure which is absolutely critical. In particular, this project will support the rehabilitation of the East Bank Demerara Highway which is a major artery in Guyana. Given the rapid growth that is taking place in Guyana, it is a major roadways that is already severely congested,” Dr. Singh said.

The third loan contract is for the reformulation and additional financing to the programme entitled, “Enhancing the National Quality Infrastructure for Competitiveness.” The objective of the additional financing is to support economic competitiveness, with a specific objective to support the adoption of quality standard among Guyanese micro, small and medium enterprises.

The Bank will provide up to US$8 million through additional financing with resources from its ordinary capital.

A major investment that will be made under this loan is the establishment of a new and modern world class state-of-the-art laboratory to be operated by the Guyana National Bureau of Standards.

“That lab is an absolutely critical role in standards and certification which has taken on new and enhanced importance given the changes taking place in the Guyanese economy. It’s important for us to be compliant with international standards and certified with international standards in all areas that we operate,” Dr. Singh said.

Debt to IDB

Mar 24, 2023

Guyana’s debt to the Inter-American Development Bank (IDB) is close to US$1 billion currently. which does not include the interest on the loans. The Bank’s Annual Report 2022: Financial Statements revealed that as of December 31, 2022, Guyana owed US$787 million. Adding the US$205 million in loans Guyana recently agreed with the IBD, brings the total borrowed from the bank to US$992 million.

As required by the by-laws of the IDB, the Board of Executive Directors is required to submit the report. The Annual Report consists of a printed volume entitled, ‘The Year in Review’, containing a review of the Bank’s operations in 2022 (loans, guarantees, and grants). The Bank’s 2022 financial statement disclosed that Guyana borrowed US$335 million from the IDB in 2022.

Loans Guyana borrowed from the IDB fall under the sovereign guarantee portfolio. Prior to 2018, Guyana borrowed US$552 million from the IDB. Stated in the report is Guyana’s credit rating with the Bank which is a B-.  The loans Guyana took were for several projects and programmes such as: healthcare network strengthening, a programme to support climate resilient road infrastructure development, ‘Enhancing the National Quality Infrastructure for Competitiveness’ Reformulation and Additional Financing program and the program to Strengthen Public Policy and Fiscal Management in Response to the Health and Economic Crisis Caused by COVID-19.

Finance Minister, Dr. Ashni Singh, during his 2023 budget speech stated that total public debt stood at US$3.6 billion, an increase by 16.9 percent from last year. Almost all of its recently announced public infrastructural projects government has been borrowing to finance, despite earning over US$1 billion in the oil account for last year.

Loans signed with IBD for 2023

On March 8, 2023, Guyana signed three loans with the IBD totaling US$203 million, to strengthen the country’s healthcare system, build roads and enhance infrastructure. IDB President, Ilan Goldfajn, and Guyana’s Finance Minister Dr. Singh signed the three loans during the XI Annual Consultation of Caribbean Governors in Trinidad and Tobago.

The IDB said the first loan captioned: “Healthcare Network Strengthening in Guyana operation” is for a total amount of US$97 million.

“This loan will expand the capacity of seven hospitals in both coastal and interior communities, extend coverage of diagnostic exams and medical consultations, advance telehealth services, and increase access and efficiency of the public health system. This project is expected to benefit over half of Guyana’s population including the Indigenous people with interventions in all 10 of the country’s regions,”

The second loan titled ‘Support Climate Resilient Road Infrastructure Development’ will provide US$100 million to upgrade and expand the quality of roads and utility service along the East Bank Demerara corridor. This involves financing a 25.5 kilometer two-lane roadway with modern and innovative approaches that will improve access and safety, including for vulnerable road users.

The third loan is titled ‘Enhancing the National Quality Infrastructure for Competitiveness programme.’ Under this programme, Guyana will reformulate and access additional funding of US$8,000,000 to enhance the National Quality Infrastructure’s capacity to promote the adoption of quality standards among Guyanese Micro, Small, and Medium Enterprises (MSMEs). In November 2016, the IDB approved US$9,000,000 to Guyana for Enhancing the National Quality Infrastructure for Economic Diversification and Trade Promotion. The Government requested additional financing to support its priorities of a more diversified and productive base.

IDB warns against ‘excessive’ borrowing

In January, the IDB released a report cautioning Latin America and Caribbean (LAC) countries against ‘excessive’ borrowing and urged governments to bring their debts down to more prudent levels.

In its report titled, ‘Dealing with Debt – Less Risk for More Growth in Latin America and the Caribbean’ the IDB disclosed that debt has risen to US$5.8 trillion which is 117 percent of the Gross Domestic Product (GDP) in the region.

“Given the dangers of excessive debt, the current situation in Latin America and the Caribbean is worrisome,” the IDB said.

Public debt serves a critical role for countries to pursue public investment projects, implement counter cyclical policies and provide support to economies in the face of negative shocks. The IDB warned that if public debt becomes too large or is not managed with sufficient caution, interest costs may balloon, growth prospects may suffer, and in the limit, a costly debt crisis may be provoked. Governments can bring down their debt levels by improving spending efficiency, expanding the tax base and seeking wider reforms to enhance fiscal balances and boost growth. There are many reasons why public debt levels should be lower than they currently are and there are several ways to reduce that debt.

 

Local access to oil /gas sector

Mar 10, 2023

24 Guyanese can gain accelerated access into the oil and gas sector. A partnership between GO NDE Inc. and Global Compliance Service is providing free subsidised specialised training in non- destructive testing and inspection. The companies signed a memorandum of understanding to create opportunities for Guyanese while boosting local content.

David Pope, Regional Director of Global Compliance Service, explained the companies identified areas for the training that will give successful applicants a foothold in the oil and gas industry and cover critical fields.

General Manager of GO NDE Inc, Joshua Samuel, said the programme was born out of our need to expand in Guyana and will train 24 persons in the first phase. The top 8 will then be given the first opportunity to proceed in areas such as rope access training, offshore and lifting gear inspection. They will then be certified to work in the petroleum sector. Once qualified they will be employed by GO NDE Inc., gain their licence and become competent inspectors in the industry.

The training programme responds to a need to invest in the human capital of Guyana and to expand local content capacity. Managing Director of GO NDE Nicholas Deygoo said that they recognised the need for expanded non-destructive testing and inspection services in Guyana and the dire need for more locally trained personnel. He urged young people to seize this opportunity to get free million-dollar training while securing an accelerated path into the lucrative oil and gas sector.

The non-destructive testing and inspection services include quality control, safety, environmental compliance and many other critical areas. The training will initially be conducted in Guyana and the top 8 students will be sent for additional training overseas. The application for this training is open to all Guyanese and applicants can send their applications to admin@gonde.gy

 

UK Minister arrives to launch Business Chamber

27 March 2023

United Kingdom’s Minister for the Caribbean and the Americas, David Rutley arrived in Guyana for a series of engagements including the launch of the British Chamber of Commerce Guyana (BritCham Guyana)

Mr Rutley was among passengers on the British Airways inaugural flight from London via St Lucia. At a welcome ceremony for the flight, he remarked that he will be “helping to launch a new chamber of commerce as well which will then help to cement those relationships at the business level.”

Several delegations have been visiting Guyana to explore investment opportunities. UK High Commissioner to Guyana, Jane Miller said Mr Rutley’s “packed” agenda would include sampling nature tourism, meeting government ministers and participating in the launch of the chamber. Britcham last month tasked itself with promoting and facilitating commercial business opportunities and mutually beneficial relationships between the UK and its largest trading partner in the Caribbean.

Alongside the promotion and facilitation of bilateral trade and commerce, BritCham Guyana said it would foster an open networking environment where companies can engage and discuss issues impacting their businesses and UK-Guyana trade, including member meetings, business breakfasts and seminars.

The independent, non-profit chamber will serve as a leading promoter and enabler of trade and investment between the UK and Guyana, one of the world’s fastest growing economies. BritCham Guyana will also work closely with the British High Commission in Georgetown and UK government departments to support their advocacy work in Guyana.

The new organisation will be chaired by Guysons Group CEO and UK/Guyanese citizen Faizal Khan, supported by a board of leading business executives with ties to both countries. Khan highlighted that BritCham Guyana will offer members increased access to and knowledge of each market, investment opportunities, expert and technical skills, advisory services, a wide range of industry, policy and regulatory insights across sectors and competitive pricing.

Anne-Marie Martin, Director of Membership UK & International at the British Chambers of Commerce said,

“We would like to congratulate BritCham Guyana and we look forward to working with the team. “

The British High Commissioner to Guyana said “BritCham Guyana offers an opportunity to bring together a rich and diverse network of UK investors, exports, and services with strong governance, world-class standards and experience that complement the ambitions of Guyana’s business community through long term and sustainable partnerships.”

Guyana is the UK’s largest trade partner in the Caribbean. In 2021, the country accounted for 21.6% of all the UK’s trade with the Caribbean and, to date, there has been a 45.9% increase in trade among the two nations for 2022.

 

BA new service to Guyana

booming tourism, trade links envisaged

March 28, 2023

British Airways (BA) made its inaugural scheduled flight to Guyana from the UK as it commenced its twice-weekly operations.

Its predecessor, British Overseas Airways Corpo-ration (BOAC) had last flown here 42 years ago. BA is a major addition to the carriers serving Guyana.

The airline will fly from Gatwick Airport to Guyana twice weekly on Mondays & Thursdays via St Lucia. The service to Cheddi Jagan International Air-port, Timehri also operates as a “tag on” on BA’s service from Gatwick to Saint Lucia.

 

 

BA to boost visitor arrivals

27 March 2023,

BA flight crew and officials at the CJInternational Airport.

British Airways is projected to add tens of thousands of visitors annually to Guyana, Tourism Minister Oneidge Walrond said at the ceremony to welcome the carrier’s first scheduled to flight to the Commonwealth state..

The UK airline would offer over 33,000 seats annually to travellers to and from Guyana to Britain with connections to other European destinations and the Caribbean and Central America.

“We have been proactively preparing for this influx of visitors and, as you move around Guyana, you would notice a lot of construction activities some of which are associated with the hospitality sector.”

Aviation Minister Juan Edghill said Guyanese authorities did not have to work hard to convince British Airways to add Guyana to its route of scheduled services with connections via St Lucia.

“It was easy for them to make that decision because of the numbers that we were seeing and almost 35 percent of those travellers were business class passengers.”

He added that “this would have made no sense whatsoever” if the United Kingdom did not lift its visa restriction on Guyanese. Public Works Minister Deodat Indar said before commencement of scheduled flights here, British Airways had been operating chartered flights to Guyana to fly crew members in for the two Stena Carron drill-ships in the Stabroek Block.

With visitor arrivals 25 percent above pre-pandemic levels, officials hope that Guyana would record 1 million visitors by 2026, up from 660,000 last year.

British High Commissioner to Guyana, Jane Miller said the return of British Airways’ scheduled flights for the first time in 42 years marks “a new step in the UK-Guyana relationship” especially in the areas of tourism and business. UK Minister for the Americas and the Caribbean, David Rutley hailed the BA scheduled service to Guyana was a huge landmark and a “real vote of confidence in the economy and people of Guyana.”

Minister Edghill hinted that at least one other European airline would be flying to Guyana “Guyana will become so busy and sooner or later you wouldn’t be able to gets seats on British Airways.”

 

 

Win for UK, Guyana, St. Lucia as BA returns

Mar 28, 2023

St Lucia Minister for Tourism, Investment, Creative Industries, Culture and Information, Ernest Hilaire said the return of British Airways to the Guyana – United Kingdom (UK) route is a win for Caribbean integration as he joined authorities for the inaugural flight at the Cheddi Jagan International Airport, Timerhi.

“We came to celebrate you receiving this flight… I cannot recall a direct flight from Guyana to St Lucia, so just like this is a milestone for you, the flight returning is a milestone of St Lucia,” Hilaire said as he pointed to the new possibilities for people-to-people and tourism exchanges.

Similar sentiments were also expressed by British High Commissioner to Guyana who said not only is the inaugural flight the culmination of hard work at the business and diplomatic levels but also a personal win for so many people.

“It feels transformational. It’s a huge step for me both personally and professionally,” she said.

The long anticipated British Airways touched down at the CJIA just after 18:00hrs and spent two hours on the ground before jetting off to St. Lucia with well over 200 passengers on its 777-200ER aircraft. The airline will service the route twice weekly with one stop in St Lucia. At a welcoming ceremony, Minister of Public Works, Bishop Juan Edghill, reflected on the impact of the COVID-19 pandemic on Guyana’s aviation industry, chronicling the transition from that dire state to the continuous advancement in the sector.

“We are growing. And we will continue to grow. So, there are two things we’re doing. We’re expanding facilities at the airport, and we are growing routes.”

Minister within the Public Works ministry, Deodat Indar, added that government’s aggressive policy-driven approach to development and heavy investments is attracting hordes of visitors..

“ I am hoping that other airways follow suit as British Airways did to fly this route.”

This further enhances the country’s connectivity to the Caribbean and the rest of the world.

Minister of Tourism, Industry and Commerce, Oneidge Walrond said that the introduction of the flights presents a myriad of opportunities for Guyana, including those for additional partnerships.

 “Connecting the world to Guyana remains a priority of this government. We see Guyana as an active part of a global travel network, and we are continually engaging major airlines with a view to encouraging them to serve this destination. Our pursuit of airline connectivity is part of a wider strategic economic objective to make Guyana easily and affordably accessible to all business in all sectors, including the leisure and pleasure travel sector.”

The direct flights are prefaced by the visa-free travel to the United Kingdom, announced late last year. This move to further strengthen government-to-government and people-to-people relations allows Guyanese to visit the UK for up to 180 days or six months without a visitor’s visa.

Indian High Commissioner, K.J Srinivasa, United Kingdom Parliamentary Under-Secretary of State at the Foreign, Commonwealth, & Development Office, David Rutley, Chairman of the CJIA board, Sanjeev Datadin, and CEO, Ramesh Ghir were also in attendance.