Guyana and Trinidad and Tobago signed a memorandum of understanding this morning which will provide for the establishment of a high-level bilateral commission and will address areas such as non-tariff barriers and dispute settlement.
The MoU comes after months of sniping by government and private sector officials from both countries over economic relations and prospects for Guyana’s oil and gas sector.
The MoU follows:
MEMORANDUM OF UNDERSTANDING
THE GOVERNMENT OF THE COOPERATIVE REPUBLIC OF GUIANA
THE GOVERNMENT OF THE REPUBLIC OF TRINIDAD AND TOBAGO
ON RENEWED AND STRENGTHENED COOPERATION
The Government of the Cooperative Republic of Guyana and the Government of the Republic of Trinidad and Tobago (hereinafter referred to individually as “the Party” and collectively as “the Parties”);
RECALLING the close and cooperative relations that have long existed between their peoples and countries;
RECALLING that their two countries have concluded the Framework Agreement on Deepening Bilateral Cooperation; a trade protocol on fresh agricultural and forest products; a memorandum of understanding concerning cooperation in the field of food security; and a memorandum of understanding on cooperation in the energy sector;
DESIRING to strengthen the ties of friendship between the two countries through a renewed framework of collaboration and practical cooperation;
RECOGNIZING the mutual benefits that can result from collaboration and cooperation in areas of mutual interest, including the commercial, economic, technical and cultural sectors;
TAKING INTO ACCOUNT the aims and objectives of the Revised Treaty of Chaguaramas Establishing the Caribbean Community, including the CARICOM Single Market and Economy;
CONVINCED that closer cooperation between countries will advance the goal of regional integration within the Caribbean Community;
NOW ACCEPT THE FOLLOWING:
1. Through this Memorandum of Understanding (MoU) on Renewed and Enhanced Cooperation, the Parties agree to work together in the areas of trade and investment, agriculture and food security, security, energy and infrastructure, and other areas that may be determined. , with the aim of developing a strategic cooperative partnership for the mutual benefit of their respective countries and the wider Caribbean Community.
2. The Parties may conclude complementary cooperation agreements in specific areas of common interest.
Areas of cooperation
The Parties agree to cooperate in a number of areas, including:
a) Encourage cooperation and joint action between companies in their respective countries;
b) Pursue enhanced cooperation in the areas of agriculture and food security, security, energy, infrastructure, trade and investment, including by addressing non-tariff barriers and other barriers to the movement of goods and services between them, and in any other area, as may be determined, contribute to the sustainable and resilient development of both countries and the advancement of the single market and economy of the CARICOM;
c) Promote cooperation in the fields of sport and culture, tourism and the strengthening of educational exchanges.
1. The implementation of the programs organized under this Memorandum of Understanding will, to the extent possible, be undertaken according to any modality agreed by the parties.
2. For the implementation of the specific programs adopted, the parties may request, after joint agreement and when deemed possible, the participation of third party funding sources for the execution of the joint programs and projects.
High Level Bilateral Commission
1. For the purpose of implementing this Memorandum of Understanding, a High-Level Bilateral Commission (hereinafter referred to as “the Commission”) will be established, which will meet alternately in the Cooperative Republic of Guyana and the Republic of Trinidad and Tobago, or virtually, as may be agreed between the Parties.
2. The Commission will be coordinated by the Ministries of Foreign Affairs of the two Parties and will include experts from both Parties and representatives of the public and private sector organizations concerned.
3. The first meeting of the Commission shall take place within three (3) months of the entry into force of this Memorandum of Understanding and thereafter the Commission shall meet annually, or as otherwise agreed by the Parties.
4. The functions of the Commission will include:
a) Formulation of concrete proposals for cooperation and collaboration between the two States in identified areas;
b) Supervision and execution of this MOU;
(c) Review and approval of specific projects to be undertaken by the Parties;
d) Review of the state of progress of cooperation activities between the two countries and formulation of recommendations to the Parties on activities and projects likely to be undertaken;
e) Any other function that may be mutually agreed upon by the Parties.
5. The Commission will establish its own rules of procedure.
1. Each party agrees that all information provided directly or indirectly by the other party will be treated as confidential information and will be held and protected in the strictest confidence, except as required by law and will not be disclosed by the party. recipient without his prior consent. of the Disclosing Party.
2. The term “Confidential Information” does not include information which is or enters the public domain other than through the fault of either Party.
3. The confidential information disclosed by a Party will remain the property of this Party, which may request its return at any time. Upon receipt of such request, the other party shall promptly return to the disclosing party all original Confidential Information disclosed hereunder and cause all copies and reproductions thereof in its possession to be destroyed.
4. The obligations contained in this Section shall survive for a period of ten (10) years after the termination of this Memorandum of Understanding, unless otherwise agreed by the party.
Any dispute or dispute arising out of the interpretation or application of this Memorandum of Understanding will be resolved in good faith through diplomatic channels.
Coming into force
This Memorandum of Understanding will enter into force on the date on which the Parties have notified each other through diplomatic channels that they have met the national legal requirements in their respective countries for the Memorandum of Understanding to enter into force.
This Memorandum of Understanding may be amended by mutual consent of the parties in writing and the amendments shall take effect in accordance with the provisions of Section VII.
This MOU will be effective for a period of five (5) years and automatically renewed for equal successive periods, unless one of the Parties notifies the other Party in writing of its intention not to renew the validity of the MOU, at the least three (3) months before the expiry date of the validity of the memorandum of understanding.
1. This Memorandum of Understanding may be terminated at any time by either Party notifying the other of its intention to terminate and termination shall be effective three (3) months after the date of notice to the other part.
2. Unless otherwise agreed, termination of this Memorandum of Understanding shall not affect the implementation of ongoing programs and projects under this Memorandum or Supplementary Agreements.
3. In the event of termination of this Memorandum of Understanding, each party shall be solely responsible for payment of all expenses incurred by it pursuant to termination.
1. The foregoing represents the agreement between the Government of the Cooperative Republic of Guyana and the Government of the Republic of Trinidad and Tobago on the matters referred to in this Memorandum of Understanding.
2. This Memorandum of Understanding constitutes a declaration of mutual commitments of the Participants entered into freely and in good faith. It does not create rights or obligations under international law.
In witness whereof, the undersigned, being duly authorized by their respective governments, have signed this Memorandum of Understanding.
Signed in the city of Georgetown this..…. day of May 2022 in duplicate.
FOR THE GOVERNMENT OF THE COOPERATIVE REPUBLIC OF GUIANA
FOR THE GOVERNMENT OF THE REPUBLIC OF TRINIDAD AND TOBAGO