Guyana and Brazil strengthen partnership to boost trade

Guyana and Brazil reaffirm ties to enhance both country’s economy and the rest of the South American region through several big-ticket projects including a road-rail link to boost trade relations. No less than President Dr. Irfaan Ali of Guyana and President Jair Bolsonaro of Brazil led the discussion on May 6 that mapped out the plans which include massive infrastructures, energy security, and expansion of trade agreements and prospects.

The highlight of the discussion was the full implementation of the Guyana-Brazil International Road Transportation Agreement, advancing the Technical Feasibility Studies for the installation of a fibre optic link between Guyana and Brazil, and the complementary rail link between the two countries.

President Ali emphasizes the need for an integrated plan. To fast-track the plan’s implementation, a team of experts composed of investors and government experts from Guyana, Brazil, and the State of Roraima will be established. By the 3rd quarter of the year, the team will have identified all that needs to be done which also includes an assessment of the potential trade and investment gains of a Boa Vista-Georgetown Road corridor and identifying the needed technical assistance, private partners, and financial institutions.

Both parties also continued the ongoing talks on the establishment of an energy corridor in both countries including French Guiana, tapping Brazil’s immense expertise in the oil and gas industry, and developing renewable energy. They also emphasized the need to proceed with the Inter-American Development Bank’s feasibility study as agreed in 2019.

President Ali further encouraged Brazil to invest in Guyana’s energy sector, to which President Bolsonaro warmly accepts by committing that he will incentivize Brazilian businesses that expand their venture in Guyana.

The strong partnership of both countries lies in their shared vision to increase integration, promote sustainable development, and advance their well-being of their people’s well-being.

These external linkages that Guyana has formed among neighboring countries further cement Guyana’s potential in becoming a world-class economy. This is further complemented by local companies such as Excel Guyana that help propel the country towards this vision by providing the much-needed support to local and international investors in establishing their businesses on Guyanese soil – all thanks to Excel’s extensive experience in government relations and orientation, construction management, procurement, and logistics, employee relocation, recruiting and human resources and expert accounting among others.

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