China & Guyana sign agreements to boost trade

Guyana and China have signed two new memoranda of understanding to advance trade and investment.

The signing took place following talks between Guyana’s Foreign Minister Hugh Hilton Todd and Vice Minister of Commerce of China Wang Shouwen.

The meeting took place in Hainan, China, on the fringes of the Fourth Ministerial Conference of the China-Caribbean Economic and Trade Cooperation Forum.

The first MoU is geared towards deepening bilateral cooperation and trade facilitation, and the second promotes investment cooperation in green and low-carbon development.

Guyana’s Foreign Minister Hugh Hilton Todd and Vice Minister of Commerce of China Wang Shouwen.

Wang, who is China’s International Trade Representative, engaged in a bilateral discussion with Todd on trade and investment between Guyana and China prior to the signing.

The two memoranda will provide the necessary impetus for the improvement of trade and investment relations between Guyana and China.

In 2023, Guyana became China's largest trading partner in the Caribbean, with bilateral trade rising 168 per cent from 2022 to 2023 alone.

Chinese Ambassador to Guyana Guo Haiyan has said that China is willing to further enhance bilateral co-operation in various fields to foster growth in both nations.

China and Guyana officially established diplomatic relations in 1972.