Private Sector Commission (PSC) Chairman, Komal Singh yesterday told the launch of the Agri-Investment Forum & Expo that while Guyana has made significant strides in the agriculture sector, stakeholders must never lose sight of the ongoing problem with trade barriers.
In order to achieve CARICOM’s vision of the 25% reduction of the food import bill by 2025 Singh called for a holistic approach towards this issue so that local & regional markets will not be affected.
According to the PSC Chairman, trade restric-tions have created major limitations on the growth and development of regional and local markets.
Speaking at the Arthur Chung Conference Centre, he said that the PSC will continue to partner with local consortiums on the development of mega farms and agro- processing facilities.
“The PSC will con-tinuously work with several consortiums in relation to developing mega farms and agro processing facilities which will result in the deve-lopment of a robust agri-culture sector”, Singh said
He advised that policy makers also relook at the effective shipment of goods and services inter- and intra-regionally.
“It is critical at this point in time that the private sector take the initiative to work on a more aggressive regional logistics approach where we can move our products and services easily around the region”, the PSC Chairman noted.
He opined that if this is not rectified or modified, it is possible that greater volumes of food produced in countries like Guyana would be unsold and unused.
Guyana is currently leading the Caribbean Community’s (CARI-COM) goal of slashing the massive regional US$6 billion import bill by 25% by 2025.
The Agri-Investment Forum & Exposition themed “Achieving Vision 25 by 2025”, slated for October 20th-22nd at the Arthur Chung Conference Centre, is expected to bring regional and international stakeholders together to address existing investment shortfalls and other challenges.
Prime Minister Mark Phillips said the forum and expo are aimed at promoting and fostering partnerships with local and regional companies through the showcase of goods and services.
The expo is expected to host over 300 local and international delegates daily.
President Irfaan Ali, who is Lead Head of Government for Agricul-ture in the CARICOM Quasi-Cabinet back in 2022 at the Opening of the Agri- Investment Forum had given statistics of how food shortages, the effects of the global COVID-19 pandemic, and the Russia/ Ukraine Impasse had affected persons in the region.
He singled out delays in transport, logistics impediments, shortages of wheat, and the more recent global shortage of infant formula as why it was everyone in the region’s duty to ensure that food security measures are key.
The president pointed out that in 2021 alone, Guyana imported 100 metric tonnes of fish and fish products amounting to some US$240 million. “In Guyana and the rest of the region, the proposed path must be to improve management of the fisheries sector to invest in aquaculture to supply farmers,” Ali posited.
He noted that poultry production is currently at 50,000 metric tonnes but the projection is to take this to 90,000 by 2025.
Corn and soya produc-tion here is at 4,300 metric tonnes and has a projection of 35,000 while rice is at 560 metric tonnes and has a projection of 847 metric tonnes.
Some 324,000 metric tonnes of vegetables are produced and the govern-ment will support mea-sures to take this to 400,000 by 2025.
“To reduce our import bill, which is approxi-mately US$30 million, we have entered into partner-ship and collaboration with our private sector, building consortium and partnering with young people in the production of high value crops, shade houses for young people investing in shrimp production,” Ali said.
Yesterday at the launch of the upcoming forum and export, Agriculture Minis-ter Zulfikar Mustapha said that substantial gains have been made.
According to him these include new partnerships among Guyana, Barbados, Trinidad and Tobago and other CARICOM countries.
He cited his administra-tion’s $651 million invest-ment just for the soy and corn project.
For aquaculture, more than $100 million was invested in brackish water shrimp which increased from production 250 kg to 1.2 million kg in one year, the subject minister reminded.
Mustapha announced that his government would be working to restart cultivation of rice in the twin island Republic of Trinidad & Tobago.
“As you know there is a demand for rice so we are helping Trinidad to restart cultivation of rice”, he said.
