Guyana President To Address Saint Lucia Business People – St. Lucia Times

The content originally appeared on: St. Lucia Times News

Guyana’s President, Dr. Irfaan Ali, will address a Wednesday, February 21, 2024, St. Lucia Chamber of Commerce, Industry and Agriculture luncheon.

“His Excellency Dr. Mohamed Irfaan Ali will speak on Opportunities to Do Business in Guyana,” a Chamber release said.

The release noted that under Ali’s stewardship, Guyana has the fastest-growing economy in the world.

It said President Ali is the guest of honour at Saint Lucia’s 45th independence anniversary observances.

The Chamber disclosed that at its extraordinary Executive Luncheon, the President will speak to Chamber business leaders on the offerings, insights, perspectives, and prospects for the Guyana Economy and how Saint Lucian business people can be part of its growth and success.

“It promises to be an enlightening and enriching experience for all attendees,” the Saint Lucia private sector body said regarding the event that will take place at the Harbour Club from 12:30 pm.

The Chamber also said the event presents a unique opportunity for networking, learning, and fostering connections between communities.

In addition, it observed that a broad cross-section of business interests will undoubtedly contribute to the richness of the discussions and the event’s success.

According to Bloomberg.com, wells in oil-rich Guyana pump out 645,000 barrels daily, resulting in $1.6 billion in revenue for the government in 2023.

Guyana’s economy quadrupled in size over the last five years.

It went from one of the lowest-performing in the region to the fastest-growing in the world for two years straight.

However, the discovery of masses of oil in Guyana’s resource-rich Essequibo region, comprising more than two-thirds of the country’s territory, reignited a century-old border controversy with neighbouring Venezuela.

Venezuela claims ownership of the Essequibo region.

But Guyana has said it is awaiting an International Court of Justice (ICJ) ruling on the matter.

On Thursday, December 14, 2023, in Argyle, Saint Vincent and the Grenadines, Presidents Ali and Nicolas Maduro of Venezuela discussed matters consequential to the territory involved in the border controversy.

After more than eight hours, the two Heads of State agreed that Guyana and Venezuela, directly or indirectly, would not threaten or use force against one another in any circumstance.

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