Regional, Int’l collaboration needed for food security – Granger

…at opening of inaugural GUYTIE

President David Granger, in pushing the regional integration agenda, said the Caribbean has the capacity to attain food security but underscored the need for regional and international collaboration in doing so.
“The Caribbean taken as a whole, has the land, has the labour and the capital to overcome its most severe setbacks to achieving food security. There is need, however, for intensified collaboration between local, regional and international firms to grasp opportunities which can provide a platform for global market penetration,” the Head of State said.
He was at the time delivering the feature address at Thursday’s opening of the inaugural Guyana Trade and Investment Exhibition (GUYTIE), which he said is a strategic event to reposition Guyana in the global marketplace.
According to the Head of State, there is huge potential for inter-regional trade which can ultimately bring down the Caribbean’s US$4.5 billion annual import bill. Commodities such as wheat, rice, chicken, non-alcoholic beverages, soya bean, sugar and palm oil, account for more than 40 per cent of the Region’s food import bill.
Further pointing out that inter-regional exports at the end of 2014 stood at 13.1 per cent of the total regional exports, the Head of State posited that the Caribbean is an important common market, especially in the era of trade wars and Brexit.
“The combined land space of the countries of the Caribbean is almost equivalent to that of Sweden, we shouldn’t think of ourselves as islands but as a significant community of states. There’s a huge potential for increased regional trade,” he stated.
To this end, President Granger asserted that Guyana’s economic interests are intertwined with those of the Region. “We see Guyana’s future in the Caribbean and the Caribbean’s future in Guyana… We shall continue to pursue regional economic cooperation in turn, to build greater prosperity and global competitiveness,” he noted.
The Head of State went on to say too that the inaugural GUYTIE comes at a time of renewed efforts to re-energise regional economies and the exhibition’s theme – ‘Made Locally, Trading Globally’ – of promoting export-ready firms and linking them with regional and international businesses. These are all consistent with objectives of economic integration in the Caribbean.
Against this backdrop, the Guyanese leader reminded the local Private Sector of its pivotal role in regional economic cooperation.
“The Private Sector, to fulfill this role, should aim at increasing international trade and avoid the dangers of insularity. The Private Sector should aim at increasing investment and becoming more innovative in pursuing new markets and improving competitiveness of its goods and services,” he told stakeholders at the exhibition.
GUYTIE is a platform for local export-ready companies to have a business-to-business engagement with foreign buyers as well as potential partners. The two-day exhibition is being held at the Marriott Hotel, where over 50 exhibitors have set up booths.
Speaking at the opening ceremony, Business Minister Dominic Gaskin posited that while the immediate focus of the exhibition is to develop the local Private Sector, the long-term aim is to make the event a signature forum for international companies to connect and expand their market reach, while networking with potential investors
“GUYTIE 2018 is a pilot event which we expect will be held annually and which we expect will become a signature Caribbean trade fair. So while this year we are focused on linking Guyanese producers and service providers, the longer-term vision is to link international exhibitors with international buyers and to create a forum for international trade right here in Guyana,” Gaskin noted.
The Business Minister went on to note that initiatives such as this are part of efforts by Government to create an enabling business environment for both local and foreign investors.
Meanwhile, Chairperson of GUYTIE, Owen Vervey, said like GO-Invest, of which he is the CEO, this exhibition will facilitate local businesses networking with the 100-plus foreign buyers and investors that are here in Guyana.
He noted that the schedule of activities for the event is an intense one, with some 50 business-to-business meetings already registered and it is anticipated that this number will double with unscheduled meetings – both at the exhibition as well as offsite.
On this note, Chairman of the Private Sector Commission (PSC), Desmond Sears, in brief remarks noted that this event is timely and important for businesses pursuing export markets, as he encouraged stakeholders to take advantage of the opportunity such a forum provides.
The inaugural business-to-business exhibition was also lauded by the participants.
“This is a wonderful opportunity for us here and our local manufacturers because now we can be seen overseas… So I want to thank the Government for giving us this opportunity and bring buyers from overseas so they can see what we have to offer in this lovely country,” said Rashid Baksh, the General Manager of Mohamed’s Farm; a poultry dealer on the East Bank of Demerara.
Apart from the exhibition, GUYTIE will also facilitate seminars and presentations aimed at educating local businesses on the international best practices in terms of marketing and exporting.