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HomeBusinessEconomyGuyana - Suriname enhances economic ties with private sector business council

Guyana – Suriname enhances economic ties with private sector business council

By Natasha Smith-Thomas

GEORGETOWN, Guyana, (DPI) – Chief Executive Officer (CEO) of the Guyana Office for Investment (Go-Invest), Dr Peter Ramsaroop said the collaboration between the Private Sector Commission (PSC) and the Suriname Trade and Investment Association (VSB) will further enhance economic relations between the two countries.

Dr Ramsaroop was part of a Guyanese delegation, which included members of the PSC, that visited Suriname last week. Along with strengthening economic ties, the visit also sought to foster mutual investment opportunities. The Guyanese delegation meeting with its Surinamese counterparts last week.

Back in 2020, Guyana and Suriname formalised a cooperation mechanism establishing a framework for dialogue to guide future collaborative efforts aimed at improving the lives of citizens.

Since then, the countries have been devising investment opportunities in the oil and gas, agriculture and a number of other sectors.

During the visit, the two bodies established the Private Sector Business Council, a 10-member body, which will see the strengthening of relations and the creation of the envisioned Single Market and Economy.

The first official council meeting was held on March 16, setting an agenda for the next year. The next meeting is set for May 2022 in Guyana, after which bi-monthly meetings will be held.

The Business Council will have joint leadership with VSB’s chairman Bryan Renten elected chairman for the first six months, following which Paul Cheong of the PSC will take over.

Members of the Surinamese side are Bryan Renten, Derrick Klaverweide, Rishie Parbhudayal and Farsi Khodabux, while the members from the Guyana side are Paul Cheong, Norman Mc Lean, Ryan Alexander, Latoya Jack and Leekha Rambrich.

Dr Ramsaroop, along with the PSC and the Private Sector of Suriname also met with Suriname’s minister of foreign affairs, Albert Ramdin and minister Parmanand Sewdin of ministry LVV.

A statement from PSC said Guyana and the Suriname Trade and Investment Association (VSB) have “realised the importance of the involvement of the private sector as the engine for growth and development in both countries.”

The statement noted that the “intentions of the Business Council was shared with the Surinamese president, His Excellency, Chandrikapersad Santokhi during a courtesy visit by the newly established Council on March 16, 2022.”

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