PSC signs MoU to strengthen economic relations between Guyana & USA

The content originally appeared on: INews Guyana

The Bilateral Chamber of Commerce and the Private Sector Commission (PSC) have pledged to leverage their combined resources to strengthen economic relations between the United States and Guyana.

This is made possible through the signing of a Memorandum of Understanding between the two entities on Wednesday in Houston, Texas.

The signing ceremony was witnessed by Guyana’s Minister of Natural Resources Vickram Bharrat, US Ambassador to Guyana Sarah-Ann Lynch, ExxonMobil executives Dr. John Ardill and Alistair Routledge, and CEO of Go-Invest Guyana Dr. Peter Ramsaroop.

According to a joint statement issued by the parties, the MoU promotes trade and investment across sectors, including infrastructure, healthcare, industry and education.

The agreement, signed by Ms. Aida Araissi, Chief Executive Officer of the Bilateral Chamber, and Mr. Paul Cheong, Chairman of the PSC, was the fruit of the Bilateral Chamber’s first Trade Mission to Guyana in March 2022.

Ms. Araissi said, “we are proud to be ranked as a top producing contractor for the US Trade and Development Agency (USTDA). Our Bilateral Chamber and USTDA programs represent over US$100 billion dollars of exported U.S. goods, services, and advanced technologies and we’re looking forward to bringing that kind of expertise to Guyana, to grow the local content.”

It was noted that the Chamber and the PSC will work together in the coming months to organise more trade missions that bring together businesses from the U.S. and Guyana.

Mr. Cheong said, “today is a historic day. We will work on building a partnership that members of both sides will be proud of. This is just the beginning”.

The Bilateral Chamber, located in Houston, Texas, has an expansive network of more than 36,000 subscribers, representing small to large enterprises. The Chamber is a trusted partner to the U.S. Trade and Development Agency, the U.S. Departments of Commerce, State, and Energy, as well as trade development agencies in key markets around the globe.