The Minister of Foreign Affairs, Aloysio Nunes Ferreira, and the Ambassador of Guyana in Brasília, George Talbot, signed the Cooperation and Investment Facilitation Agreement (CIFA) between Brazil and Guyana today (December 13). This is the third CIFA agreement signed by Brazil in 2018 after Ethiopia (April 11) and Suriname (May 2), raising the number of countries covered by legal instruments in the field of investments to 13 (in addition to the above mentioned countries, Angola, Chile, Colombia, Malawi, Mexico, Mozambique, Peru, as well as the founding countries of Mercosur – Argentina, Paraguay and Uruguay -, signatories of the Investment Cooperation and Facilitation Protocol).
The CIFA agreement with Guyana represents an important sign of the strengthening of bilateral relations, on the occasion of the 50 years of the establishment of diplomatic relations, celebrated last August.
Bilateral trade exchange reached nearly 39 million dollars in 2017 and has already totaled 37 million dollars between January and November 2018.
The Brazil-Guyana CIFA agreement also means a further step in the consolidation of the Brazilian standard of investment agreements, which aims to preserve the country’s regulatory framework while promoting cooperation in the improvement of business environment in the two countries and facilitating access to information and the fulfilment of administrative requirements needed to attract foreign direct investments.