Local and international business groups condemn Venezuelan naval incursion 

Several local and international business organisations have strongly condemned the unlawful incursion of Venezuelan naval vessels into Guyana’s maritime territory, an action which threatens both regional stability and the economic security of the nation.

Earlier, statements were issued by key private sector groups, including the Private Sector Commission (PSC), the Georgetown Chamber of Commerce and Industry (GCCI), and the Guyana Shipping Association (GSA), condemning this provocative act.

These associations, along with other entities, have expressed grave concerns about the recent violation of Guyana’s Exclusive Economic Zone (EEZ), specifically within the Stabroek Block where ExxonMobil operates its Floating Production, Storage, and Offloading (FPSO) unit.

The Guyana Manufacturing and Services Association (GMSA) joined in the condemnation, calling the Venezuelan action a direct violation of international law, which all states are bound to uphold. According to the GMSA, the incursion not only threatens Guyana’s territorial sovereignty but also undermines the stability of the region and the economic progress made in recent years. The association reaffirmed its support for Guyana’s diplomatic and legal efforts, particularly the ongoing proceedings before the International Court of Justice (ICJ) and the 1899 Arbitral Award that affirms Guyana’s rights over its EEZ.

In a similar vein, the Guyana Oil and Gas Energy Chamber (GOGEC) condemned the Venezuelan incursion that reportedly occurred on March 1, 2025, in the Stabroek Block. GOGEC reiterated its support for the swift and strategic response by the Government of Guyana and highlighted the danger this event posed to the nation’s territorial integrity and regional peace. GOGEC further stressed that Venezuela’s actions contravened the spirit of the Argyle Agreement and a December 2023 ICJ order which explicitly calls for the maintenance of the status quo in the disputed area.

The European Chamber of Commerce (ECC) also issued a statement of condemnation, labelling the incursion as an illegal entry into Guyana’s EEZ. The ECC, representing international business interests, emphasised that such aggressive actions threaten not only Guyana’s sovereignty but also regional peace and economic development. The organisation underscored the importance of respecting international law, including the 1899 Arbitral Award, which firmly establishes the boundary between Guyana and Venezuela. The ECC expressed full solidarity with the Government of Guyana, calling for global support in ensuring Venezuela adheres to the legal framework and refrains from further acts of aggression.

All the business groups, united in their stance, have called for a peaceful diplomatic resolution, urging Venezuela to respect international law, the 1899 ruling, and the ongoing ICJ proceedings. They have also voiced their concern for the future stability of the region, emphasising the importance of maintaining investor confidence and continued economic growth in Guyana.