Ghana has pledged to offer free technical assistance to the Co-operative Republic of Guyana, following the considerable discovery of deposits of oil and gas resources at the country's offshore.
Guyana, since 2018, had made several high impact discoveries of conventional oil and gas, with US oil giant, ExxonMobil, in February 2019, making it 11th and 12th discoveries.
Speaking at a State Luncheon held in his honour on Tuesday in Guyana, President Nana Addo Dankwa Akufo-Addo, said Ghana is a player in the oil industry, having commenced production of oil in commercial quantities since 2011.
He told the Guyanese President, David Granger, that "we should explore promptly the possibility of establishing a joint vehicle to assist in the effective, initial management of oil and gas revenues."
President Akufo-Addo said "with our experiences, I believe Ghana is well-equipped to share with you the dos and don'ts in the area, and make available fee-free, quality technical assistance to you. Hopefully, the proper management of the new revenues will help finance the spectacular development of Guyana."
The President was of the view that since the beginning of diplomatic relations between Ghana and Guyana, in 1979, the two countries had not done much to create the relevant legal framework for the conduct of their bilateral co-operation.
President Akufo-Addo reassured Ghana's readiness to deepen bilateral co-operation with Guyana, particularly in the agriculture, energy, trade and tourism sectors.
"I am also glad to see that, on this trip, we have signed an Air Services Agreement, a Visa Waiver Agreement, and a Memorandum of Understanding on Investment, all with the view of strengthening our bilateral relations and establishing a legal framework for doing so," he added.
Ghana and Guyana, according to President Akufo-Ado, were bonded by common blood, geography, history, and ties, and that it was imperative that the two countries worked together, and forged ahead in unity and common purpose to developed and improve on the living standards of their respective citizens.
"Being each other's keeper means that we look out for each other, and ensure that we, descendants from the Mother Continent, never permit ourselves to be subjected to dehumanising conditions and sold into slavery. The Trans-Atlantic Slave Trade, in whatever form, should never be repeated", he added.
President Akufo-Addo was hopeful that, under his and the tenure of office of President Granger, Ghana and Guyana would continually search for ways to co-operate.
"I have no doubt, that, together, we can forge a new, strong partnership for cooperation between our two nations for the mutual benefit of our two peoples," he added.