The current bi-lateral agreements between the two nations, such as the PetroCaribe deal is a good and very positive arrangement, one which Minister Rodrigues-Birkett said has drawn recognition from others such as the African, Caribbean and Pacific Group (ACP) of countries. She said that at a recent summit in Equatorial Guinea, the call was made for others to look at the concessionary agreement and the resultant benefits it brought to participating countries.
As part of the PetroCaribe deal, Guyana is supplied with petroleum products at concessionary rates, with an initial up-front payment and a long period to pay the remaining debt over a number of years. This arrangement has been modified with Guyana supplying rice at very favourable prices for petroleum products in a first-of-its-kind deal, said Minister Rodrigues-Birkett. “That arrangement started when President Chavez and President Jagdeo met on the margins of the UN General Assembly”. This move has brought immense benefits to local farmers, their families and Guyana as a whole, she noted.
