Finance Minister lauds China/Guyana relations – as Vice Minister of Commerce, team visit – two agreements sealed

Georgetown, GINA, March 2, 2012

Source - GINA

Chinese Vice Minister of Commerce Zhong Shan and Finance Minister Dr Ashni Singh signing the two agreements

Today, Minister of Finance, Dr. Ashni Singh met and held meaningful discussions with the visiting Chinese Vice-Minister of Commerce, Honourable Zhong Shan and his delegation.

 
During those discussions Minister Singh welcomed the visiting team and pointed out that this visit was taking place at an appropriate time since Guyana and China had established diplomatic relations 40 years ago. 

Minister Singh stated that Guyana was proud of the development of the strong historical and cultural ties that had been developed over the years, as well as those of technical and economic cooperation.  The latter, he added, had been unfolding in the realisation of a number of projects which supported the development efforts of the Government and people of Guyana. 

The Finance Minister also made reference to those technical cooperation projects which include infrastructural works as well as technical support to specific sectors in Guyana.  The Medical Brigade Support was identified as one such project which has been providing substantial support to the health sector.

Minister Singh also mentioned the growing Chinese investment in Guyana such as the Bosai Mining Company and pointed out that other companies have been indicating their interest in investing in this country.

The Chinese Vice-Minister stated that the purpose of his visit was to further strengthen trade and economic cooperation between the two countries and to implement the decisions made during the Third China-Caribbean Forum which took place in September, 2012.  Vice-Minister Shan also expressed the desire to see economic and commercial relations expanded between Guyana and China in the near future.  He said that China intends to expand its trade in the coming years and hoped that Guyana would become an active trading partner.  The Government of China, he said is encouraging Chinese businesses to invest in Guyana. 

US $6.5M in agreements sealed

During the meeting, Minister Singh and Mr Shan penned two agreements: one on economic and technical cooperation valued at 30M Yuan RMB or US$ 4.3M to finance development projects agreed on by both governments.   The other agreement valued at 15.5M Yuan RMB or approximately US$ 2.2 would allow for the provision of firefighting equipment to enhance the work of the Guyana Fire Service.

Projects under implementation as well as new projects were discussed.  It was observed that, in general, the projects were being satisfactorily, undertaken.  
Some of the major projects mentioned included the One Laptop Per Family, the E-Government project which when fully implemented would strengthen the Government’s ability to deliver electronic services to Guyanese and modernise services.

Another major venture mentioned was the Guyana Power and Light Transmission and Distribution Project which seeks to improve the electricity supply in the country. Other projects discussed included the ferry vessels which will be used to enhance river transport between the Essequibo Coast and Region Three.

  
In concluding, the Minister of Finance expressed his appreciation and gratitude to the Government and people of China for their continued support for Guyana’s development efforts.  Both Ministers pledged to continue working, assiduously, towards the attainment of goals that would allow for the continued socio-economic development of Guyana and the deepening of their bilateral cooperation.