Guyana Guyana

29.10.2019 - Article

In 2016, Germany and Guyana celebrated 50 years of friendly relations. A bilateral investment protection and promotion agreement has been in place since 1994. The Federal Republic of Germany has contributed to Guyana’s economic recovery through debt cancellation.

In development cooperation, Germany funds resource management and tropical forest preservation projects in Guyana. Through agreements between Germany and the Caribbean Community (CARICOM), Guyana is also indirectly involved in cooperation on sustainable economic development, the promotion of renewable energy and climate change adaptation. In addition, Germany provides assistance in the region through micro‑projects.

Other cooperation and trade accords exist within the framework of the agreements between the European Union and the ACP (Africa, Caribbean, Pacific) states as well as between the EU and CARIFORUM (CARICOM member states plus the Dominican Republic). The further development of trade relations with the EU is being followed closely in Guyana and in the entire region against the background of the ongoing negotiations on the EU’s new partnership agreement with the states of Africa, the Pacific and the Caribbean (Post‑Cotonou Agreement).

Guyana expects to be able to begin exploitation of the extensive oil fields off its coast in 2020, with resulting economic growth of over 25 percent. However, it also remains committed to achieving an energy transition at home, the aim being to meet its own energy needs in full as soon as possible through water, solar and biomass power.

As the Government lost a vote of confidence in December 2018, new elections are to be held in 2019..

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