Chinese businesses, with help from local workforce, push China/Guyana trade to US$1.2B

“We are honoured and proud to be part of history,” he told the gathering of well over 300 persons.

The association’s pragmatic cooperation between Guyana and China was highlighted in greater detail by Ambassador Guo. She said it was a proven fact that Chinese businesses in Guyana are adhering to the principles of mutual benefit and abiding by the laws while respecting local customs and contributing to local welfare.

Over the last 11 years, the association’s membership expanded from 14 to 21.

And so, the Ambassador believes that the increase in bilateral trade from US$180 million to US$1.23 billion in 2023 is in part as a result of the work of the ACEG.

“The investment of member companies has soared from less than US$100 million to US$8 billion… its member companies are currently employing about 2, 000 local workers,” the Ambassador said.

But beyond that, she noted that in supporting Guyana’s development, China has not and will not be absent as she committed support at the government to government level.

Meanwhile, Prime Minister Phillips also spoke to the bilateral exchanges in the areas of trade, culture and education and the support China has offered for other large scale projects in infrastructure and healthcare.

But special attention was given to the support offered at the business level.

In the oil and gas sector, China’s national offshore oil company, Sino, dispositioned as a 25 per cent partner in ExxonMobil’s operation, is just one of many landmark projects that lay a strong foundation for Guyana and China relations.

“…Seeing this promising and long-standing show of support presently has further committed to the establishment of a China/Guyana investment and economic cooperation working group, Chinese projects in the country and investment in economic cooperation.

“A working group serves as a platform for the country to develop and collaborate on various aspects of economic and investment cooperation,” the Prime Minister noted.

He further noted that the primary part of such a working group is to facilitate dialogue and cooperation between the participating countries to promote and enhance economic, trade relations and investment opportunities.

“Indeed, now it’s a time to reflect on our journey from a developing country to one of the world’s fastest economies, as well, looking towards the future with the hope of and optimism of prosperity we must also take this opportunity to renew our commitment to shared values of unity and togetherness,” he said.