Guyana’s Private Sector Commission (PSC) has signed a Memorandum of Understanding (MOU) with the Suriname Trade and Industry Association (STIA) to strengthen bilateral relationships between the two nations.

The MOU will establish a Guyana-Suriname Private Sector Business Council, which will comprise representatives of PSC and the STIA for the purpose of strengthening economic ties and initiatives between the two organisations.

The MOU was signed virtually on January 26, 2022, by Mr. Paul Cheong, Chairman of the PSC and Mr. Bryan Renten, Chairman of the STIA. The MOU will focus on the following areas of cooperation: –

a) Promote trade, industry and investment as a means toward economic growth

b) Improve competitiveness through innovation and entrepreneurship

c) Partner in skills development to create solutions in education and workforce development

d) Promote Information and Communications Technology development and exchanges

e) Support an enabling environment for the rapid and secure movement of goods

f) Promote Joint Venture Partnerships / formation of synergies between businesses in the two countries

g) To collaborate on building & infrastructural development in key sectors such as transportation and Education and Skills Development Centre for Oil and Gas

h) Energy transition and climate change agenda driven by private sector involvement

i) To encourage and share Research & Development in Agriculture and partner in Forestry development

j) To advance the Tourism sector through partnerships and joint ventures

k) To provide Financing of large Public Private Projects with mutual benefits

The ten (10) member Council will comprise five PSC and and five STIA. It is
expected that the Council will be established within a fortnight and will hold its first meeting to discuss the areas of cooperation.


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