In a significant step toward deepening economic and diplomatic ties with Guyana, British Virgin Islands (BVI) Premier and Finance Minister Natalio Wheatley announced yesterday that Guyanese citizens will soon enjoy visa-free travel to the BVI.
The move is part of a broader effort to strengthen bilateral relations, particularly in light of Guyana’s rapid economic growth and rising international influence.
Speaking at a press conference, Wheatley emphasized the importance of fostering closer relations with Guyana, especially as the South American nation continues to position itself as an emerging global power. He noted that Guyana has undergone a remarkable transformation in recent years, driven by its oil discoveries and bolstered by its election as a non-permanent member of the United Nations Security Council, Wheatley said. “It is a model for sustainable growth and international diplomacy.”
Wheatley cited Guyana’s substantial economic progress, particularly in the oil sector, as a major motivator for enhancing the BVI’s relationship with the country. “Guyana has seen exponential growth following its significant oil discoveries, with its oil sector expanding by 124.8% in 2022 alone”, he stated. However, the Premier was quick to point out that Guyana’s economic boom is not limited to oil. He stated that Guyana’s non-oil sectors have also produced substantial results, demonstrating the country’s “balanced approach to development.”
Wheatley suggested that easier travel between the BVI and Guyana could lead to increased business opportunities, tourism, and other forms of bilateral exchange.
Wheatley underscored Guyana’s rising profile on the global stage, describing it as “the focal point for global investment” due to its vast oil reserves. He also highlighted the country’s growing influence in international diplomacy. “Guyana’s ascension to the UN Security Council places Guyana in a pivotal position to enforce global policies on peace and security and elevate the Caribbean voice on the international stage”, Wheatley said.
He also mentioned the close ties between Guyana and China, pointing out that the two countries have developed a robust trading relationship. “In 2022, bilateral trade between Guyana and China reached $1.88 billion, making Guyana China’s most significant trading partner among CARICOM nations,” Wheatley said. This partnership has played a key role in boosting Guyana’s status as a major player in the global economy, he added.
To formalize this burgeoning partnership, Wheatley said that the BVI and Guyana are in the process of drafting a Memorandum of Understanding (MoU) aimed at deepening cooperation across various sectors. While details of the MoU were not disclosed, the finance minister suggested that it would likely focus on trade, investment, and tourism.
The visa-free travel arrangement is expected to take effect once final agreements between the governments are reached. It will likely facilitate more frequent visits by Guyanese citizens to the BVI, promoting economic exchanges and solidifying the relationship between the two territories.
Stabroek News understands that visa free travel was approved last week by the BVI Cabinet.
A 17-member trade mission was here from the BVI from 30th July to 4th August 2023.
In August last year, Deputy Premier of the BVI, Lorna Smith had told the press that discussions were ongoing at the level of the BVI Cabinet on removing the existing visa restrictions for Guyanese.
