GEORGETOWN, Guyana, Nov 16, Guyana Wednesday offered the United Kingdom (UK) energy security by guaranteeing hydrocarbon supplies a few hours after indicating that his country’s mission is to build a country and an economy that will function in an environment and in a world 2030
“UK, you don’t have that your face with the full brunt of the open market. And I think together we should work on seeing how we support each other. Because if there’s a way, and so there are definitely ways in Guyana in which even your energy security can be secure to avoid us doing that transition,” Ali told a visiting United Kingdom trade delegation.
The meeting is also being attended by the Trade Commissioner for Latin America and the Caribbean at the UK Department for International Trade, Jonathan Knott.
Ali urged the business sector to examine opportunities in Guyana’s energy sector to ensure there is security in the UK because it does not have reserves it could inject into the market to deal with shortages and rising prices.
Due to the Russia-Ukraine war, the UK has been searching for alternative supplies of crude and natural gas, and President Ali said the better option is to continue using hydrocarbons- crude oil fuels and natural gas- rather than reviving coal generation.
He encouraged the trade mission to invest in the energy sector to provide that kind of security.
Knott and Guyana’s Foreign Affairs Minister, Hugh Todd, signed an economic partnership agreement.
Meanwhile, addressing a reception for the visiting UK delegation, Ali said, “our mission is to build a country and an economy that will function in an environment and in a world 2030 and beyond and be an economy that is competitive, well diversified, strong, at the cutting edge of technology and leading in many areas”.
He spoke of the number of projects the government is developing in addition to oil and gas, such as food security, healthcare, education, technology, access to fresh water as well as environmental services.
Knott said that the UK has the experience and is willing and able to help Guyana achieve its ambitious goals and hailed the Caribbean country’s “impressive transformational trajectory” backed by the government’s willingness to engage and trade “fairly and openly.”
The British High Commission had earlier indicated that following a successful trade mission earlier this year, the Department for International Trade (DIT), in collaboration with The Caribbean Council and the Georgetown Chamber of Commerce & Industry (GCCI), welcomed the three-day visit of the trade mission.
“The delegation will… engage in several ministerial and business-to-business meetings with the local private sector in areas of trade as well as investment opportunities within several sectors inclusive of infrastructure, education, manufacturing, and development,” the High Commission said, adding that the trade delegation comprises of 11 companies ranging from education, manufacturing and infrastructure, and various services.
Knott said at the reception on Tuesday night that the UK’s goal is to add a valve and render support to the government and President Ali to deliver the “inspirational vision” he has for the country by working together.
“It’s not about talking about working together. It’s about actually planning to do that. We need to understand how and where Guyana would like us to help enable them to deliver what they would like to,” Knott said, adding that London recognizes the challenges any emerging economy with ambitious programs is likely to face.
“We know because we have experience in this region of partnering with governments, of supporting governments, of partnering with companies to make sure projects are delivered on time to standard and to budget,” he said.
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