China/ Guyana trade skyrockets to US$800 million at half- year

Outgoing Chinese Ambassador Guo Haiyan on Wednesday night highlighted that bilateral trade between Guyana and China skyrocketed to US$800 million (or about G$167.6 billion) in the first half of 2024.

“Practical cooperation between China and Guyana has made significant progress.

“In the first half of this year, our bilateral trade reached $800 million, reflecting a 31% year-on-year increase,” the Ambassador said at her farewell reception held at the Pegasus Suites, Kingston, Georgetown.

Trade between China and Guyana has been steadily increasing. At the end of 2023, bilateral trade was pegged at US$1.23 billion.

A number of large projects, including the new Demerara Harbour Crossing, are being undertaken by Chinese firms.

Ambassador Guo also noted that contracts for the Guyana Utility- Scale Photovoltaic Programme and the new Mackenzie/ Wismar Bridge were inked this year. These are other major projects that involve the Chinese.

But the trade relationship, she explained, is part of a wider Guyana/ China partnership that now spans more than 50 years.

“The China- Guyana relationship is rooted in a profound historical and political foundation and enjoys the high regard of our two Heads of State, and receives widespread support from the two peoples.

“… Both China and Guyana adhere to people- centres development with economics mutually complementary and opportunity- filled,” Haiyan noted.

She also affirmed that China remains a committed partner of Guyana.

Guyana’s Prime Minister Brigadier (Ret’d) Mark Phillips hailed the China/ Guyana relationship, and commended Haiyan for the work done while serving here.

According to him, Chinese expertise has helped Guyana in the areas of healthcare, agriculture, renewable energy initiatives and commerce.

“May the bonds of friendship between our nations continue to strengthen and may the seeds of cooperation you have sown bear fruits for generations to come.

“I look forward to welcoming your successor as we continue to navigate this landscape of progress for both our nations,” the Prime Minister said.