Guyana’s oil discovery prompted BVI trade mission
Deputy Premier and Trade Minister Lorna Smith has underscored Guyana’s discovery of oil and its stratospheric economic rise in recent years as being behind the BVI’s quest to bolster trade relations with the South American country.
Smith, along with a team of government officials and a group of private sector representatives, embarked on a three-day trade mission to Guyana late last month where matters in relation to trade, agriculture and financial services, among other things, were discussed.
Smith told reporters at a press conference yesterday that Guyana will, in the next few years, become one of the largest oil producers in the world and argued that the BVI has the kind of investment structures needed for Guyana.
“Guyana is a CARICOM member, and the BVI is an Associate Member and we all know that Guyana has discovered oil and gas,” Smith said. “So, there is that reality. Why now? The BVI has the kind of financial services structures that could be used for investment into Guyana and vice versa.”
Chief Executive Officer of BVI Finance, Elise Donovan, in supporting Smith’s position, added that Guyana has had an unprecedented growth rate of some 62 percent in the last few years. “That is arguably the highest growth rate in the world, in terms of economic development,” Donovan said.
She continued: “BVI is a facilitator of global trade and investment and business, and we see the synergies that we are able to produce across the world in terms of facilitating global trade, that we can be that facilitator with what we see happening in Guyana.”
Natural alignment between Guyana and BVI
In the meantime, the Deputy Premier explained that there is already a natural alignment between Guyana and the BVI, given their respective regional positions and association with CARICOM.
According to the Deputy Premier, the spirit of partnership between the two countries was evident throughout and there was mutual agreement that the mission was what she described as the ‘starting gun’ on building a closer relationship.
She also alluded to the strong cultural connection which exists between the two countries, with Guyanese forming the third largest immigrant group in the Virgin Islands and constituting a significant portion of the workforce.
Smith further shared that the BVI wants to turn that natural alignment into a more robust partnership and develop mutual business and investment opportunities between Guyana and the BVI.
“Guyana’s economic growth is clearly significant, and we were very impressed with the government’s focus on using its oil and gas resources to develop a sustainable economy,” she added.
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BVI Airways have now spoken once again.
This is exactly what we should be doing. If we don’t China will. We have to stop shooting the messenger when the messenger is correct.
Her changing party and the impact it had is hard to swallow for some, but it was legal. Now we should let her prove herself. lets be fair about it.
All we gonna get from Guyana is more Guyanese
WILD GOOSE CHASE
It really hurts me to the core to hear this lady talk about natural alignment. Were there no natural alignment before. I would say to my GT family, president Ali let us tell you about the bad treatment meted out to us before. Keep your damm visas we will keep our oil and our riches. You now know about caricom where was caricom when you were taxing our already taxed earnings. We are not stupid you have nothing to offer us, let me say it again road town have nothing to offer Georgetown. By the way tell the people, especially that W woman from the funeral home how clean Guyana is. And yea we are willing to sell you coffins much less than Puerto Rico. Get lost.
It still aint clear what you all went to solicit. The people dont want this they want things to be fixed internally first.
@Action If you are living in the BVI why don’t you go back home since everything is so much better inGuyana.
Turtle Dove the notion of equating the British Virgin Islands with the vast economic prowess of China strikes me as a rather extravagant exercise in self-aggrandizement. It would be prudent for us to maintain a steadfast connection to the realm of actuality concerning our own capacities and potentials.
WHY ALL THESE UNWISE SENTIMENTS TOWARDS OUR BROTHHERS AND SISTERS FROM ANOTHER MOTHER?. IS THIS THE WAY OUR ANCESTORS TAUGHT US?. ARE THESE THE LEGACIES THEY PASSED ON?. NO WONDER THE YOUNGER GENERATION ARE WHERE THEY ARE AND WE WONDER. LET US EXAMINE OURSELVES AND BE MORE TOLERABLE AND LEARN TO EMBRACE VALUES.
reserves did not work out too well for Venezuela, Nigeria and other 3rd world undeveloped countries. Why would Guyana be any different?
This BVI lady only looks at economic data with no understanding of the petrochemical industry. Private companies explore, drill, extract, refine and sell THEIR petroleum products to their customers. There are some trickle down benefits for Guyana but the vast profits from petrochemicals are only realized by the private companies.
Ms.Donovan is soo beautiful
Oil discovery prompted a whole trade mission?? Sounds like a spur of the moment thing. Nothing to do with her campaign. Whoever told her this is a good idea, she need a new advisor. Just jump up? No plan or direction? Ok buddy. Go and look for the oil when we should be talking about solar energy. Right now there are solar cars. You know what parking your solar car in road town sun for a whole day could do for the environment? Folly all over the place man!! Streupes. BVI will never be a trendsetter again with this SNAKE!!! Who also just happens to be a one-trip pony at the same time. No ideas!!! NONE!
You sound really bitter and stupid. Your oil could turn out to be a curse instead of a blessing. Stop being a simpleton.
Guyana has had to borrow billions to fund this oil exploration project to date. Their FS pales in comparison to that of the BVI. Their political system has been rife with systemic corruption, racism and nepotism. The political class will ultimately skim ans exploit this natural resource and benefit personally from this while the people wind up like Venezuela and others – still considered third world. Perceived economic benefits for whom is the DP Mrs. Smith actually speaking for here in the BVI? Those that went on the trip with her?
We spent millions on greenhouses because a former career politician thought it was a great idea and it has yet to turn out (1) tomato or okra! Don’t get me wrong, I love me a good roti and shooting the breeze with my guyo friends dem, but; I am not clear on what are the tangible benefits for us here and why would Guyana need us rite about now?
My sentiments exactly. I don’t get it.
But, but , but. but global warming…….
I though oil was evil? Or maybe just capitalism is evil? Depends who benefits, correct?
Those countries you mentioned have a lot more people than Guyana way way more. Per Capita it will benefit everyone it’s up to the people now to make use of those benefits on a long term basics