China has agreed to write off the G$3.13 billion (US$15.3 million) debt owed to it by Guyana, according to an official statement issued in Georgetown on Wednesday.

The debt forgiveness deal, and a memorandum of understanding on group travel to Guyana by Chinesenationals dominated talks between President Bharrat Jagdeo and vice-chair of the standing committee of the National People's Congress of the People's Republic of China, Gu Xiulian, who headed the visiting Chinese delegation.

The Government Information Agency (GINA) said a protocol on remitting the debt owed to China by Guyana was signed by Minister of Finance, Dr. Ashni Singh and Chinese Ambassador to Guyana, Zhang Jungao.

Six separate loans

The debt write-off represented six separate loans accumulated by Guyana between the period 1975 and 1993.

The international cooperation on travel agreement "will enable Chinese operators to organise various tours to Guyana, with the endorsement of the Chinese National Tourism Authority, while giving local counterparts the authority to recommend travel agencies," said GINA.

"To realise this provision, both sides will confirm with each other, in writing, a list of respective designated or recommended travel agencies."

The two countries also exchanged notes on a pact for cooperation between the state-owned electronic media and China Central Television .

- CMC