Guyana and the Dominican Republic have solidified their ties by inking six Memorandums of Understanding (MOU) to boost collaboration in varied sectors, together with vitality, agriculture, tourism, infrastructure, and safety.
These accords had been formalized in a ceremony carried out within the Ambassadors Corridor on the Nationwide Palace within the Dominican Republic on Tuesday.
On a two-day official go to to the Spanish-speaking nation, Guyanese President Dr. Mohammed Irfaan Ali and his accompanying delegation witnessed this symbolic strengthening of bilateral relations.
Power collaboration: Oil refinery and offshore blocks
– Commercial –
Central to those agreements, the Dominican Republic has dedicated to financing an oil refinery able to processing a minimal of fifty,000 barrels of oil each day.
As a part of this settlement, the Dominican Republic will retain 51 per cent possession of the refinery.
Moreover, an MOU has been drawn as much as consider the opportunity of the Dominican Republic managing one in every of Guyana’s coveted offshore oil blocks.
Extra collaborations within the Caribbean
Agricultural initiatives: Joint ventures in urea and meals manufacturing
– Commercial –
Venturing into the agricultural sector, the 2 nations are in talks to arrange a facility devoted to urea manufacturing, tailor-made to fulfill their respective necessities.
Additional cementing this agricultural alliance, each international locations have pledged investments in poultry, corn, and soybean manufacturing, aiming to bolster meals safety within the area.
“Dominican and Guyanese ties are strengthened by means of these alternatives and right now each Guyana and the Dominican Republic are making historical past and it’s a milestone of collaboration for the Caribbean area that’s unprecedented,” Abinader mentioned briefly remarks after the MOUs had been signed.
A press release from Abinader’s workplace mentioned Ali is optimistic about these MOUs.
Ali believes they’re strategically poised to bolster each international locations’ resilience towards world adversities.
The newest enterprise information from the Caribbean
Learn extra Enterprise articles from Caribbean Nationwide Weekly