The parties agreed too, to pursue, through normal diplomatic channels the necessary arrangements for Venezuelan President Hugo Chavez, to honour an invitation by President Bharrat Jagdeo to pay a state visit to Guyana and further reiterated their commitment to intensifying the bonds of friendship and cooperation between the two countries.

The agreements were contained in a 21-point joint communiqué issued following bilateral meetings held by delegations headed by the Ministers themselves, at the Herdmanston House, Georgetown, yesterday.

The joint-statement concluded a two-day visit by Minister Chaderton to Guyana, his first to this country, and at the invitation of his Guyanese counterpart, Minister Insanally.

Minister Chaderton who arrived Tuesday afternoon, was accompanied by other senior officials of the Venezuelan Government including the Director-General of Economy and Cooperation International, Oscar Hernansez Bernalette and Director General of Sovereignty, Limits and Border Issues, General Alfonso Nunez Vidal, both attached to the Ministry of External Relations of Venezuela.

While here, the Venezuelan Minister also paid courtesy calls on President Bharrat Jagdeo, Speaker of the National Assembly, Ralph Ramkarran, and Secretary General of the Caribbean Community, Edwin Carrington

According to the joint statement, Ministers Chaderton and Insanally who expressed satisfaction at the existing friendly and cooperative relations between the two countries, have also agreed to:

** review the decisions taken at the Second and Third Meetings of the Guyana/Venezuela High Level Bilateral Commission in February and October 2002 in Guyana and Venezuela respectively and reaffirmed their commitment to accelerate the implementation of the activities of the Commission. Noting that the advancement of functional and economic cooperation between the two countries would redound significantly to the social and economic development of the peoples of both countries, the Ministers agreed that the sub-committee on Health would be convened by this month-end and one on Culture in the second half of 2003.

** recognise the significant advances made towards the conclusion of a telecommunication cooperation agreement between the respective regulatory authorities of Guyana and Venezuela and undertook to encourage an expeditious signing of the agreement.

** the importance of negotiating a new air Transport Agreement aimed at enhancing and facilitating the flow of passengers and cargo between the two countries, taking advantage of the interest shown by firms of both countries to operate with greater regularity.

** with the aim of re-activating commercial exchanges, undertook to promote business visits at the earliest opportunity. In this regard, Minister Chaderton proposed an early visit of high-level officials from Venezuela who will be accompanied by a group of businessmen representing various sectors, a proposal which Minister Insanally welcomed.

** in the interest of promoting cooperation in the area of infrastructure development, the Venezuelan delegation indicated the interest shown by construction firms from that country, to offer development projects in this sector, particularly those related to the construction of houses and infrastructure and communication development within the framework of a comprehensive programme which would include the development and finance of projects.

**reaffirm the commitment of their respective countries to the United Nations Good Officer process and to a regular process of consultation under the aegis of this process. The convening of the meeting between the two facilitators during Minister Chaderton’s visit was welcomed, and the parties agreed that priority would be placed on arranging an early meeting with the Good Officer, Mr. Oliver Jackman, in preparation for a meeting between the Foreign Ministers of both countries with the UN Secretary General later this year.

The joint statement further stated, that Ministers Chaderton and Insanally,

** analysed the efforts being undertaken to deepen the process of regional integration within the Caribbean Community (CARICOM), the Association of Caribbean States (ACS) and the Treaty of Amazonian Cooperation (TAC) and emphasised the need to join efforts in advancing the initiatives aimed at furthering the process.

** noted the benefits which a Trade and Investment Agreement between CARICOM and Venezuela offers for increasing trade and economics, and emphasised, in particular, the tremendous benefits which the ACS initiatives in the areas of transport, trade and tourism could bring to the people of the Caribbean. The importance of the Treaty of the Amazonian Cooperation to the efforts at sustainable development of the countries of the Amazon region was also underscored.

** ** they reiterated the support of their countries for the measures presently being undertaken, in fulfillment of the vision of the presidents of South America for the physical integration of the continent.

In this regard, the Ministers committed their countries to the development of the northern hub (Brazil-Guyana-Suriname-Venezuela) of the continent, within the framework of the South American Regional Infrastrucutral Integration Initiative (IIRSA).

** both Ministers welcomed the provision by the Andean Cooperation Fund (CAF) of the initial resources for the undertaking of pre-feasibility and feasibility studies, including environmental and social impact assessments of the Bochinche-Georgetown road, a vital infrastructure that could become a direct link within the framework of the IIRSA.

** re-affirmed their commitment to the promotion of democratic principles and institutions, in accordance with the Inter-American Charter of the Organisation of American States (OAS), and underscored that adherence to these principles was essential for the maintenance of hemispheric stability and security.

** on the important role that the United Nations should play in the process of multilateralism.

** addressed the challenges to the democratic system currently faced by countries in the hemisphere stemming from poverty, the illicit trade in drugs and arms and other social ills, along with the wider economic down-turns caused by factors such as terrorism. In this context, they underscored the need to collaborate in regional and hemispheric organisations to confront these challenges.

** to intensify consultations between the two Foreign Ministries on matters occupying the agenda of regional and multilateral agencies particularly in relation to issues of mutual concern, including debt relief, poverty alleviation and the maintenance of democracy. In this regard, they recognised the importance of the proposals for a New Global Human Order (NGHO) and the International Humanitarian Fund. The Minister pledged to continue to work towards an international acceptance of the need to create and fund programmes to eradicate hunger and poverty.

**noted the challenges faced by developing countries in an increasingly globalising interdependent world economy, and emphasised that in order for these countries to obtain developmental benefits their concerns with regard to special and differential treatment, must be addressed, if all of the peoples of the world are to benefit from globalisation.