The Guyana Government will be considering deeper involvement in the South American regional trading bloc (MERCUSOR), President Donald Ramotar assured at a summit in Brazil on Friday.
The MERCUSOR summit held in Brasilia on Friday is the last under the presidency of the Portuguese – speaking nation as it will be passed to Uruguay for the next sixth months. Venezuela became a full member on that occasion.
MERCUSOR is a regional trade agreement among Argentina, Brazil, Paraguay and Uruguay which under the Union of South American Nations (UNASUR) is integrated with the Andean Community of Nations (a trade bloc comprising Bolivia, Colombia, Ecuador and Peru).
In the presence of Brazilian President Dilma Rouseff and other South American leaders, President Ramotar said he was heartened that both MERCUSOR and CARICOM have already signaled their intention to pursue a programme of joint collaboration in the near future and appealed for the strengthening of the collective vision of growth, economic prosperity and stability for Latin America and the Caribbean.
He hailed Brazil for encouraging relations with Guyana and the wider Caribbean Community (CARICOM), a process that began with the First Brazil-CARICOM Summit in the city of Brasilia on April 2010 where Heads of State and the Government of Brazil and CARICOM met under the presidency of Luiz Inacio Lula da Silva.
There the leaders agreed to the importance of MERCOSUR-CARICOM relations in the process of Latin American-Caribbean integration.
Alluding to 1999 when Guyana and MERCOSUR signed an MoU to promote economic relations, especially with respect to trade and investment, he said, “We have travelled a long way since that event and I am pleased to reiterate my country’s commitment to the regional integration process underway in our hemisphere with a view to modernising our economies and fostering a durable and sustainable socio-economic development. In this regard, I also want to recognise the leadership and vision of Brazil to strengthen ties and promote a solid development partnership with Guyana and the wider Caribbean Community.”
The bridge across the Takutu River linking Guyana and Brazil is seen as a physical connection that will expand economic benefits to the Region including a trade route which will further the efforts of the CARICOM Single Market and Economy (CSME).
The overall objective of the agreement was to foster bilateral trade flows, cooperation on trade matters and increased participation of the private sector.
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