Guyana is looking for opportunities to export rice to Latin American countries but efforts are also being made to rekindle relations with Venezuela and reclaim the market lost there, President David Granger said last Wednesday.
Granger, who was at the time speaking at the recording of “The Public Interest,” said that he did indicate to Guyana’s Ambassador to Venezuela that the government is interested “in the recovery of that market.”
Venezuela last year ended the importation of rice and paddy under the PetroCaribe barter arrangement. Venezuelan officials had said that Guyana had been given due notice of this as other countries were to be given an opportunity to benefit from the mechanism.
“The agreement came to an end. We need to have a new agreement,” Granger said, while adding that both the Foreign Affairs Minister and Minister of Finance are working on this.
He informed that government is also examining new markets in Latin America, particularly Costa Rica, Panama and Mexico.
“That is a clear objective and mandate given to our diplomats, sell rice, sell rum,” he added.
Meanwhile, Granger said that Guyana welcomes investment and has already began the groundwork to attract investors here.
Asked if he believes GO-Invest (Guyana Office for Investment) needs retooling and what measures can be used to strengthen its ability to find the type of investments the country needs, Granger said the GO-Invest is not a motor but rather a means of facilitating investment. “The important thing is to get the investment first…get the people willing to invest,” he said, before adding that the Minister of Business Dominic Gaskin is very active in this regard and has only recently returned from the Rupununi, where he had a long engagement with members of the Rupununi Chambers of Commerce.
He said that government is trying to resuscitate all of the regions’ Chambers of Commerce. He said that government would like GO-Invest to function more efficiently.
According to the president, the Minister of Business, during trips to Toronto, Canada and New York, received a lot of offers and he added that at some stage GO-Invest will play a part. “The important thing is to give investors the confidence to invest in the economy,” he said.
He charged that business has to be looked at in a holistic way, while explaining that this is one of the reasons behind the creation of new towns. “These capital towns are meant to be the hubs for public administration and also economic development,” he said, while adding that government is trying to make the regions strong.
Asked about talks which began under the previous government regarding an agriculture investment between Guyana and Trinidad, Granger said that he has not become aware of Port-of-Spain’s lack of interest. “Right now there is a major investment by the Barbadians in the Rupununi and the Trinidadians are welcomed to come… some had an interest in East Canje, some in the intermediate savannahs. It depends on the crop they want to produce,” he said.
Granger stated that even if the Trinidadians want to plant sugar cane to produce ethanol, they will be welcomed.
He said that worldwide there is a movement away from the petroleum addiction to other forms of energy. “Ethanol is one of them. I would welcome Trinidad’s investment,” he stressed.
He said too that he has met both the present and past Prime Ministers of Trinidad and discussed investments.
“I said look Guyana has Brazilian investors, American investors, [and] Chinese investors. Why not West Indian investors? So we are not going to put any obstacle in the way of people from the Caribbean and particularly Trinidad and Tobago,” he said
He recalled that during his discussions with the former PM, she did point out that Trinidad does have expertise in petroleum exploration and in that regard Guyana is inclined to invite Trinidadians to the petroleum sector. “Of course, it is still in its early days but Trinidad has been developing petroleum for decades.
It’s ahead of any other English-speaking Caribbean country,” he said. “I expect that the arrangement would be made under Caricom, particularly Single Market and Economy to ensure that there is free movement of capital and of persons,” he added.
