Guyana looks for link with Kuwait in oil and gas

With the appointment of a new Ambassador of Kuwait, Guyana is looking for closer collaboration in several areas, including oil and gas.

“I am confident that the bilateral cooperation between our countries will be enhanced in the years ahead and that your tenure will contribute to continuing cooperation and initiate new areas of collaboration, especially in the oil and gas sector, energy, sustainable development, agriculture and education,” the President told Ambassador Nasser Riden al-Mptairi.

The Ambassador was accredited by President David Granger at a ceremony at the Ministry of the Presidency Wednesday morning.

Kuwait exports an estimated two million barrels of oil daily. Oil currently contributes 90 per cent of state revenues and about half of Kuwait’s GDP, which stood at US$141 billion last year, according to the World Bank.

The new Ambassador said Kuwait was particularly interested in economic cooperation.

According to President Granger, the recent conclusion of a debt agreement between Guyana and Kuwait, in which Kuwait wrote off over US$50 million in debt, and the technical assistance provided to Guyana in the past for its infrastructural projects under the Kuwait Fund are tangible testaments of the enduring good relations between the two countries.

President Granger noted that Guyana is in transition towards becoming a “green state” which will see more emphasis being placed on the protection of our environment, the preservation of our biodiversity, the promotion of renewable energy, and the adoption of practical measures to ensure climate adaptation.

“The green state’ will allow us to respond more effectively to the challenges posed by climate change.

“Climate change represents a threat to both our economy and environment.

“We look forward to sharing experiences in building climate-resilient economies and in creating a safer planet for our people,” the President stated.

Guyana and Kuwait established diplomatic relations in August 1995.