Guyana & UAE non-oil trade soars to US$826M in 2022

Guyana and the United Arab Emirates (UAE) are deepening bilateral ties and as part of that, non-oil trade between the two countries soared to US$826 million in 2022, a 20% increase from 2021.

And as these ties deepen, President Dr. Irfaan Ali told the News Room in Dubai that the UAE President Mohammed bin Zayed Al Nahyan will visit Guyana next year.

See below the full release issued by the Office of the President:

The United Arab Emirates and the Co-Operative Republic of Guyana have both agreed to extend cooperation in various key fields of development, particularly in food security, energy, technology, capacity building, as well as cultural and social exchanges.

This followed the meeting of His Highness Sheikh Mohamed bin Zayed Al Nahyan, UAE President, with His Excellency Dr Mohamed Irfaan Ali, President of the Co-Operative Republic of Guyana, at the Conference of the Parties of the United Nations Framework Convention on Climate Change (COP28), which is currently being held at Expo City Dubai, during His Excellency’s visit after an invitation from His Highness.

During a tour of Guyana’s pavilion, His Highness the UAE President commended the endeavors of the Co-Operative Republic of Guyana in achieving sustainable development and implementing a green strategy.

His Highness stressed that COP28’s UAE Presidency aims to lead global endeavors in the field of climate action to protect the planet and future generations, highlighting that the UAE maintains a steadfast commitment to sustainability when addressing global climate action.

The two sides also agreed to fortify bilateral partnership across a wide range of areas concerning socio-economic and cultural development.

The two sides commended the bilateral ties since 1995, reiterating the importance of promoting diplomatic relations through the joint commitment to open embassies in each of the respective countries.

The two sides praised the prosperous economic and investment relations between the countries, where non-oil bilateral trade reached USD 826 million in 2022, in a 20 percent increase compared to 2021, which reflects common efforts in reinforcing investments and economic relations in recent years.

The two sides have agreed to open a UAE embassy headquarters in the Co-Operative Republic of Guyana in the near future, embodying the countries’ respective ambition to reinforce their bilateral relations which will serve their mutual interests and development goals.

The two sides also agreed that high-level visits represent substantial opportunities to strengthen and enhance diplomatic relations, referring to the visit by His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs, to Guyana on September 30th, 2023, and the visit of Her Excellency Reem bint Ebrahim Al Hashimy, Minister of State for International Cooperation, to Guyana on June 11th, 2023. Furthermore, a contribution of USD 500,000 to build a school for children of determination was announced.

For his part, His Excellency expressed his appreciation of the warm welcome by His Highness Sheikh Mohamed bin Zayed Al Nahyan, UAE President.

The two sides agreed to support ways to enhance bilateral cooperation to accomplish further prosperity and well-being in both countries.