President Ali said Guyana supports international calls for dialogue and peaceful engagement to stabilise the situation in the Middle East.
The head of state made the remarks while addressing the 136th General Meeting of the Georgetown Chamber of Commerce and Industry (GCCI) at the Guyana Marriott Hotel in Kingston, Georgetown, on Thursday.
“I also want to join with President Trump in the United States in calling on all parties in the Gulf to move towards dialogue and to have constructive conversation in normalising the situation in the Gulf that is affecting all of us,” he said.
The president also condemned attacks on critical infrastructure in Gulf countries, including Qatar, Kuwait, and Saudi Arabia, warning that such actions could severely disrupt global trade and energy supplies.
According to President Ali, the Strait of Hormuz is one of the most strategically important shipping routes in the world, carrying roughly 20 to 25 per cent of global seaborne oil trade as well as significant volumes of natural gas.
He explained that disruptions in the region have already begun affecting global markets, noting that 17 per cent of Qatar’s liquefied natural gas (LNG) capacity has been impacted in recent days.
The situation has triggered rising costs across several sectors, including a 25 per cent increase in fertiliser prices, which could have direct consequences for agriculture and food production globally.
“These are the important ingredients for manufacturing, industrial development and most economies around the world,” the president told the business community.
President Ali warned that even if hostilities cease immediately, the damage to energy infrastructure across the Gulf could take years to repair.
“So already this is not a short-term situation. Even if the war stops tomorrow, you already have on our hands five years of challenge,” he said.
The president also pointed to rising freight and transport expenses, explaining that shipping prices and insurance costs have already increased significantly due to the heightened risks in the region.
He emphasised that maintaining open trade routes through the Strait of Hormuz is critical to global economic stability.
“That is why we support every effort to have the Strait of Hormuz open and functional and every effort in bringing the war to an end,” President Ali stated.
Despite the uncertainty, the head of state assured the business community that the government is closely monitoring the situation and remains prepared to make the necessary policy adjustments to protect the country’s economy. (Department of Public Information)
