GEORGETOWN, Guyana — Guyana has signed a memorandum of understanding (MOU) with the Canadian Commercial Cooperation that will facilitate cooperation, participation in discussions and exchange of information related to the procurement of Canadian goods and services.

The MOU was signed by the senior minister within the Office of the President with responsibility for finance, Dr Ashni Singh, and Canada’s Minister of Small Business, Export Promotion and International Trade Mary Ng.

Singh said that the initiative establishes a framework for which the two countries can strengthen their economic and commercial relations that will see more Canadians doing business in Guyana and Guyanese businesses investing in Canada.

“We are very happy that we have been able to conclude this MOU, and we anticipate that will lead to a greater presence of Canadian companies in Guyana, and doing business with Guyana. Similarly, we look forward to greater economic and commercial relations in every other regard including Guyanese companies doing business with Canada,” he said.

He noted that Canadian investors and business and commercial institutions have been present in the Guyanese economy for decades, and have contributed significantly to the economic evolution of Guyana.

Singh said that the administration has worked hard over the years to create an investment climate that is hospitable, and attractive to Canadian companies. The Government is, therefore, pleased with the interest shown by the Canadian Commercial Cooperation in Guyana.

“Given where Guyana is economically, and given the sharp and incredibly exciting economic transformation that we are currently embarking on in Guyana, we see this as a special opportunity for economic relationship for all our friendly partners. We see this as an opportunity for those relationships to evolve at the same speed to which the Guyanese economy is changing right now,” he reiterated.

Ng said the signing is another chapter of the relationship Guyana and Canada started 58 years ago. She expressed optimism that the countries can work on ensuring that the commercial activities and businesses are able to benefit from this long-standing friendship and relationship.

“This symbolises the confidence of us working together towards the sustainable and inclusive economic recovery from COVID 19, and I’m looking forward for a greater collaboration between Canada and Guyana,” she noted.