Dominican Republic advances agreements with Guyana on energy and trade

Guyana.- President Luis Abinader highlighted progress in the memoranda of understanding between the Dominican Republic and Guyana, initially signed in August 2023. These agreements focus on oil exploration, the establishment of a refinery and petrochemical plant, food security, and trade exchanges to drive mutual development.

Speaking at the Guyana 2025 Energy Conference and Supply Chain Expo, Abinader announced that the Dominican Republic is finalizing agreements for the Berbice oil block, inspired by Guyana’s success in the sector. He also emphasized collaboration in workforce training, with Infotep supporting Guyana in developing skilled labor. Additionally, Dominican agricultural businesses are partnering with Guyanese counterparts to boost food production using advanced crop technologies.

Progress has also been made on the feasibility study for a urea-based fertilizer plant to strengthen food security. While discussions on the oil refinery’s financial and industrial viability continue, the recently established Guyana-Dominican Chamber of Commerce is already fostering investment opportunities between the two nations.