Pulse News
Breaking News & Top Stories

Ghana and Guyana have signed a strategic collaboration agreement.

0 34

The governments of Ghana and Guyana have signed a Framework Agreement on Cooperation to formalize the two countries’ burgeoning strategic alliance.

On Tuesday, December 7, 2021, in Georgetown, Guyana, at the conclusion of a three-day official visit by Ghana’s Vice President, Dr. Mahamudu Bawumia, many Memorandums of Understanding (MoU) in the petroleum and investment promotion sectors were also signed.

The signing of the Framework Agreement, which was witnessed by the Vice Presidents of Ghana and Guyana, comes after several months of high-level engagements between the two countries, including a three-day official visit to Ghana by Guyana’s Vice President, H.E. Dr. Bharrat Jagdeo, and a three-day visit to Ghana by Ghana’s Vice President, Dr. Mahamudu Bawumia, a few weeks later.

The Framework Agreement was signed on behalf of the Government of Ghana by Hon Thomas Mbomba, Deputy Minister of Foreign Affairs and Regional Integration, and the Co-operative Republic of Guyana by Hon Hugh Hilton Todd, Minister of Foreign Affairs and International Cooperation.

Hon Mbomba also signed a Memorandum of Understanding on cooperation in the petroleum sector with the Ministry of Natural Resources of Guyana, represented by Hon Vickram Bharrat, Minister of Natural Resources, Minister Responsible for Petroleum, on behalf of the Petroleum Commission of Ghana, and Mr. Alex Dadey, Board Chairman of the Ghana Investment Promotion Centre (GIPC), signed an MoU on Mutual Cooperation in Investment Promotion with the Guyana Office for Investment Promotion.

The parties to the Framework Agreement, among other things, seek to promote cooperation with the goal of contributing to the development of their resources by ensuring that the programs and projects resulting from the Agreement are guided by the policy and development plans of their respective countries, as an additional support to their internal efforts to achieve social and economic development goals.

Exchange of information; professional training through visits or specialized courses through the granting of scholarships for technical and professional specialization; implementation of joint technical co-operation projects in areas of mutual interest; exchange of professionals and technicians; supply of equipment and material needed for the implementation of specific projects; and any other form of co-operation to be agreed upon.

The Agreement is valid for five years and will be automatically renewed for future periods of equal duration unless the Parties mutually agree differently or one of them terminates it in accordance with the Agreement’s stipulations.

Ghana’s Petroleum Commission and Guyana’s Ministry of Natural Resources agreed to work together to develop areas of partnership in support of the Framework Agreement under the Petroleum agreement. They decided that the scope of collaboration might include Legal, Fiscal, and Technical support services, as well as non-technical support and assistance and any other petroleum-related sectors.

The Petroleum Commission will, among other things, use its expertise and resources to help Guyana develop national competencies that will allow it to manage the petroleum sector more efficiently; evaluate and establish future partnership opportunities with the Commission and other relevant entities in Ghana to ensure continued collaboration between the two countries; and provide certain consulting services.

Connect With Pulse Community!
Connect With Pulse Community!
Our newsletter gives you access to a curated selection of the most important stories daily.
Comments
Loading...

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More