The South American country has a population of less than one million.

Guyana inaugurated its embassy in Qatar on Tuesday in a move its president said would help both countries “embark on a journey of an enhanced bilateral relationship”.

“We both promote peace, stability and sustainability […] I want to thank all of our friends who are here to celebrate this momentous occasion,” Guyanese President Mohamed Irfaan Ali told diplomats and the press at the inauguration in Doha.

The event was attended by Qatar’s Minister of State for Foreign Affairs Sultan bin Saad Al Muraikhi as well as ambassadors of other countries in the Gulf state.

The president also thanked Qatar’s Amir Sheikh Tamim bin Hamad Al Thani for his support to Guyana.

“We are truly grateful and, as a nation, we pray for the continued prosperity and good health for the government, leadership and the people of Qatar,” Ali said.

Qatar and Guyana established diplomatic relations in 1996, with Georgetown seeking to strengthen bilateral cooperation in numerous fields, including climate change and energy.

President Ali noted that he aims to diversify Guyana’s economy and “make it one of the most competitive economies globally.”

Ahead of the inauguration, the Guyanese president stressed the importance of developing bilateral trade in various sectors, including oil, gas and food security, Qatar’s state news agency (QNA) reported on Monday.

During a meeting with the Qatar Chamber (QC) First Vice-Chairman, Mohamed bin Twar Al Kuwari, said that the two countries have the potential to expand cooperation in the private sector of the Gulf state and South American country.

Doha and Georgetown have previously collaborated at the United Nations and the Organisation of Islamic Cooperation.

In 2020, the two countries inked an Air Services Agreement on the sidelines of the 40th General Assembly of the International Civil Aviation Organisation in Montreal. The agreement promoted the movement of goods and the people of both countries.

Guyana has a population of less than one million who are descendants of the Americas, Europe, Portugal, Africa, India, and China. Georgetown gained independence from the United Kingdom in 1966.

In 2020, Exxon Mobil said that Guyana has the world’s largest “high quality oil reserve” and at least 33 billion undiscovered barrels.

The country is also rich in gold, diamonds and stones, which earned the country the infamous label of “The Golden City of El Dorado.”