 with other officials</p>
<p>” data-medium-file=”https://newsroom.gy/wp-content/uploads/2021/12/aviation-4-300×225.jpg” data-large-file=”https://newsroom.gy/wp-content/uploads/2021/12/aviation-4.jpg” loading=”lazy” class=” wp-image-129434″ src=”https://newsroom.gy/wp-content/uploads/2021/12/aviation-4.jpg” alt=”” width=”589″ height=”442″ /><figcaption id=)
Minister Edghill and Jair Orlando Fajardo (both sitting) with other officials
Consistent with the government’s model of open skies agreements, the Agreement facilitates acceptance of the Principal Place of Business as a means of designating an airline in contrast to the traditional restrictive requirement of substantial ownership and effective control by nationals of either country.
This means that the airlines could benefit from foreign share capital and investment, once they establish their main economic and operating base in either Colombia or Guyana. The Principal Place of Business condition for airline designation is now a common inclusion in Air Services Agreements and creates a very advantageous position for small states with limited capital or financial resources.
Presently, there is no direct flights between Guyana and Colombia, however, this Agreement puts in place the legal framework that opens market access for airlines to operate and enhance competitive air transport services, trade, and economic growth between the two countries.
The signing of this Agreement is complementary to the bilateral engagement held at the 76th Session of the United Nations General Assembly in New York between President Irfaan Ali and President Iván Duque Márquez, where the two Heads of State agreed to strengthen bilateral relations and technical cooperation.
The Agreement complements the more than 50 Air Services Agreements Guyana has established with other ICAO States for the development of the air link among States.
Guyana and Colombia established diplomatic relations on December 18, 1970. (Press release, DPI)
