Venezuelan President Nicholas Maduro and Guyanese President Irfaan Ali have agreed that there will be no use of force to settle their dispute over the oil-rich region of Essequibo.

The Presidents met on Thursday in St Vincent and the Grenadines to discuss the next steps forward following Venezuela’s controversial referendum.

On December 3, Venezuelans voted to approve the Government’s plan to establish a new Venezuelan state in the region of Essequibo and grant Venezuelan citizenship to all current and future residents. The region has been internationally recognised as part of Guyana for decades.

President Maduro said on social media that the meeting was an “excellent day of dialogue”.

In a  joint declaration, the countries agreed they would “not threaten or use force against one another in any circumstances” and would “continue dialogue”.

They also agreed to establish a joint commission of foreign ministers to address any matters arising over Essequibo, and have agreed to meet again in Brazil to continue discussions.