Guyana- Suriname private sector council in the works


A new Guyana-Suriname Private Sector Business Council will be created as part of efforts to strengthen bilateral business relations between the private sectors in Guyana and Suriname.

The council will be instituted following the signing of a Memorandum of Understanding (MOU) with the Private Sector Commission (PSC) in Guyana with the Suriname Trade and Industry Association on Wednesday.

See below the full joint press release:

The Private Sector Commission (PSC) has signed a Memorandum of Understanding (MOU) with The Suriname Trade and Industry Association to strengthen bilateral relationships between Guyana & Suriname.

The MOU will establish a Guyana-Suriname Private Sector Business Council. The Council will comprise representatives of The Private Sector Commission and The Suriname Trade and Industry Association for the purpose of strengthening economic ties and initiatives between the two organisations.

The MOU was signed virtually on January 26, 2022, by Mr. Paul Cheong, Chairman of the Private Sector Commission and Mr. Bryan Renten, Chairman of the Suriname Trade and Industry Association. The MOU will focus on the following areas of cooperation: –

  1. Promote trade, industry and investment as a means toward economic growth
  2. Improve competitiveness through innovation and entrepreneurship
  3. Partner in skills development to create solutions in education and workforce development
  4. Promote Information and Communications Technology development and exchanges
  5. Support an enabling environment for the rapid and secure movement of goods
  6. Promote Joint Venture Partnerships / formation of synergies between businesses in the two countries
  7. To collaborate on building & infrastructural development in key sectors such as transportation and Education and Skills Development Centre for Oil and Gas
  8. Energy transition and climate change agenda driven by private sector involvement
  9. To encourage and share Research & Development in Agriculture and partner in Forestry development
  10. To advance the Tourism sector through partnerships and joint ventures
  11. To provide Financing of large Public Private Projects with mutual benefits

The ten (10) member Council will comprise five (5) members from The Private Sector Commission and five (5) members from The Suriname Trade and Industry Association.

It is expected that the Council will be established within a fortnight and will hold its first meeting to discuss the areas of cooperation.

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