US$826M in non-oil trade between Guyana & UAE in 2022
…2 sides agree to strengthen ties; Guyana to get US$500,000 grant
Bilateral trade of non-oil goods between the United Arab Emirates (UAE) and Guyana reached US$826 million last year, as the two partners have agreed to strengthen their bilateral relationship in a number of areas.
This is according to a statement from the Office of the President, where it was indicated that trade between the UAE and Guyana increased by 20 per cent in 2022, compared to the previous year.
According to the Office of the President, the increase in bilateral trade reflects their efforts to improve investments and economic relations in recent years. In fact, during the Conference of the Parties of the United Nations Framework Convention on Climate Change (COP28), President Dr Irfaan Ali met with the President of the UAE, Sheikh Mohamed bin Zayed Al Nahyan.
It was explained that in the aftermath of that meeting, the two sides agreed to increase their collaboration in a number of key areas, including food security, energy, technology, capacity building and in areas related to cultural and social exchanges. Further, Guyana was commended by the UAE President for its efforts to achieve sustainable development, using green technology.
“His Highness stressed that COP28’s UAE presidency aims to lead global endeavours in the field of climate action to protect the planet and future generations, highlighting that the UAE maintains a steadfast commitment to sustainability when addressing global climate action,” the statement said.
“The two sides also agreed to fortify bilateral partnership across a wide range of areas concerning socio-economic and cultural development. The two sides commended the bilateral ties since 1995, reiterating the importance of promoting diplomatic relations through the joint commitment to open embassies in each of the respective countries.”
It was further announced that the UAE will be contributing US$500,000 to Guyana to build a school for children. They have also agreed to open a UAE Embassy headquarters in Guyana “in the near future”, which will go towards improving bilateral relations between both countries.
“The two sides also agreed that high-level visits represent substantial opportunities to strengthen and enhance diplomatic relations, referring to the visit by His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs, to Guyana on September 30th, 2023, and the visit of Her Excellency Reem bint Ebrahim Al Hashimy, Minister of State for International Cooperation, to Guyana on June 11th, 2023.”
“For his part, His Excellency expressed his appreciation of the warm welcome by His Highness Sheikh Mohamed bin Zayed Al Nahyan, UAE President. The two sides agreed to support ways to enhance bilateral cooperation to accomplish further prosperity and well-being in both countries,” the Office of the President further said.
During COP28, President Ali and his UAE counterpart had in-depth discussions on a number of issues, including ways of enhancing cooperation in various fields, especially in economics and development. Importantly, President Ali had also updated the UAE President on the Venezuela border controversy.
Reports in sections of the media had also indicated that the UAE President is slated to visit Guyana next year. President Ali was quoted as saying that the UAE has a strong interest in investing in Guyana and exploring areas of cooperation and that President Al Nahyan has committed to visiting Guyana in 2024. This is with the view of deepening ties between the two countries and even the possibility of a development pact.
President Ali also had bilateral discussions with UAE Foreign Minister, Sheikh Abdullah bin Zayed Al Nahyan, and his delegation at State House in October of this year. During the meeting, the two sides focused on discussions aimed at strengthening relations between the two countries in areas of mutual interest, including climate security, ICTs, research and development, agriculture and infrastructure.
In June, UAE Minister of State for International Cooperation, Reem Al Hashimy, was in Guyana for a one-day visit to further strengthen ties between the two countries. Minister Al Hashimy, during that visit, participated in the sod-turning ceremony for a facility for persons with disability at Crane, West Coast Demerara. The facility was funded by the UAE Government.
President Ali and Minister Al Hashimy first met in October 2021, when the Guyanese leader visited the UAE. During that visit, the two countries inked a Memorandum of Understanding (MoU) to advance technical assistance and cooperation.