THE Government of Guyana yesterday signed a Memorandum of Understanding (MOU) with its Indonesia counterpart, to promote and protect trade investments between the two countries.
Minister of Foreign Trade and International Cooperation, Dr. Henry Jeffrey, officiated at the simple ceremony in Takuba Lodge, on South Road, Georgetown.

He told the Indonesian delegation that Guyana is open for trade, particularly in the timber industry.

Jeffrey disclosed that this country has entered into an economic partnership agreement with Europe and is negotiating another business venture with Canada to open new market opportunities.

The Indonesian Ambassador, Mr. Suprijanto Muhadi, remarked that the signing was an historic occasion, because it will strengthen bilateral relations and serve as a catalyst for similar arrangements between the two countries.

Guyana and Indonesia established diplomatic relations in 1999 and began negotiating the promotion and protection investments deal in 2004.

Permanent Secretary in the Ministry of Foreign Trade and International Cooperation, Mr. John Isaacs, expressed satisfaction with the level of understanding and mutual respect shared by the two nations.

The Republic of Indonesia is the fourth most populous country in the world, with a population of 241,974,000 and about 1,903,650 square kilometres being the total size of the 13,000 islands chain.