Renewal of Memorandum of Understanding between Guyana and Canadian Commercial Corporation

Guyana and Canadian Commercial Corporation (CCC) extending existing memorandum of understating for another eight years (DPI Photo)

Introduction to the Renewal of MoU

GEORGETOWN, Guyana, CMC -Guyana has renewed a memorandum of understanding (MoU) with the Canadian Commercial Corporation (CCC) to strengthen economic and commercial relations between the two countries.

The CCC is a Canadian federal Crown corporation mandated to support the growth of international trade by helping Canadian exporters access foreign government procurement markets and by helping government buyers abroad obtain goods from Canada.

Key Provisions of the Renewed MoU

A joint statement issued here said that the renewed MoU will facilitate cooperation, participation in discussions, and exchanging information related to the procurement of Canadian goods and services.

It was signed by the Senior Minister in the Office of the President with Responsibility for Finance and the Public Service, Dr Ashni Singh, and Boris Jacouty, CCC’s Director, Business Development, Infrastructure, and will remain in effect for eight years.

“The renewal of this MOU underscores the commitment of both nations to fostering a robust and mutually beneficial partnership. By facilitating cooperation and information exchange, the MOU aims to enhance the procurement processes and ensure the efficient delivery of high-quality Canadian goods and services to Guyana,” the statement said.

Reaction from Key Officials

Singh told the signing ceremony that “the MoU “represents a significant step forward in our ongoing efforts to strengthen the economic and commercial ties between Guyana and Canada.

“We look forward to continued collaboration and the positive impact this agreement will have on our procurement processes,” he said, adding that the Guyana government looks forward to continued collaboration.

He said this includes Guyanese companies doing business with Canada, noting that Canadian investors and business and commercial institutions have been present in the Guyanese economy for decades and have contributed significantly to the economic evolution of Guyana.

Canada’s High Commissioner to Guyana, Sebastien Sigouin, underscored the need for Canada and Guyana to partner, explaining that Canada supports Guyana’s ambitious development agenda and that the two countries must work together to find trade and investment opportunities.

He said that extending the MoU shows how much Guyana and Canada were committed to continuing their relationship and that the government-to-government relationship can be beneficial.

“The Canadian Commercial Corporation is proud to renew this MoU with the government of Guyana. We support Guyana’s development goals by providing access to Canadian expertise and high-quality products. This agreement will further solidify our partnership and create new opportunities for both countries,” he said.

Conclusion

The renewal of the MoU between Guyana and the Canadian Commercial Corporation marks a significant step forward in the economic and commercial relations between the two countries. The agreement is expected to enhance procurement processes, facilitate cooperation, and ensure the efficient delivery of high-quality Canadian goods and services to Guyana.

Frequently Asked Questions (FAQs)

Q: What is the purpose of the MoU between Guyana and the Canadian Commercial Corporation?

A: The MoU aims to strengthen economic and commercial relations between Guyana and Canada by facilitating cooperation, participation in discussions, and exchanging information related to the procurement of Canadian goods and services.

Q: How long will the renewed MoU remain in effect?

A: The renewed MoU will remain in effect for eight years.

Q: Who signed the renewed MoU?

A: The renewed MoU was signed by the Senior Minister in the Office of the President with Responsibility for Finance and the Public Service, Dr Ashni Singh, and Boris Jacouty, CCC’s Director, Business Development, Infrastructure.