Caricom Heads will discuss the latest developments in the Guyana-Suriname maritime boundary dispute at their annual conference in July which is to be convened in Grenada.
The issue was down for discussion yesterday at the Inter-Sessional meeting in St Kitts but was deferred to allow the Heads the opportunity to study the various documents on the issue. The issue was placed on the Inter-Sessional agenda at Suriname's request as its President Ronald Venetiaan hinted when he spoke with reporters last week.
Guyana referred the dispute for settlement to the International Tribunal for the Law of the Sea last month after nearly four frustrating years of negotiations with Suriname, following the ejection of an oil-rig operated by the Canadian company CGX Energy, which Guyana had licensed to explore for oil in its exclusive economic zone. Suriname claims the area in which the CGX rig was located.
In its claim to the Tribunal, Guyana is seeking compensation from Suriname for breaching the UN Law of the Sea Convention to which both parties are signatories and which requires border disputes to be settled peacefully. Guyana is also seeking compensation for loss of economic investment as a result of Suriname's action which has prevented Guyana's unhindered exploitation of its resources. It has also sought temporary measures to restrain Suriname from harassing Guyanese fishermen operating in the Corentyne River and from pursuing any action that would prevent it from exploring the resources in the area, with practical arrangements being made for the proceeds of any exploitation being held in trust pending the resolution of the dispute.
Guyana's case is being presented by a legal team headed by Sir Shridath Ramphal SC. The team will be supported by Attorney-General Doodnauth Singh SC and other designated personnel. It has named Professor Frank Smith as its arbitrator to sit on the five-man tribunal.
Suriname named Professor Hans Smit as its arbitrator when it submitted its counterclaim to the tribunal on Tuesday. It is being represented by the international law firm of Clavard, Swain and Moore. Details of the counterclaim have not yet been published.
The tribunal procedures require Professors Smith and Smit to meet and decide on two other arbitrators and the four will then meet to select a chairman.
Suriname's Foreign Minis-ter Marie Levens estimates the cost to both countries in pursuing the claim before the Tribunal at US$50 million. Guyana government officials have yet to say what they expect their costs will be in legal and other fees.