September 28, 2007

Barbados business interest encouraging

Posted by : Guyana Chronicle
Filed under : Chronicle Editorials

The interest being shown by the Barbados business delegation to GuyExpo, headed by no less a person than the Barbadian Deputy PM, Ms. Mia Mottley must be very encouraging news to the local business community and in fact the entire Guyana.

Ms. Mottley’s presence here as head of the delegation certainly is an indication of their commitment towards improving and expanding trade relations and business ventures with Guyana.

Over the years there has been much talk at the level of CARICOM about increasing intra-regional trade, but perhaps not enough accompanying action to ensure that this becomes a reality. However, in light of the CSME there have been moves in the direction of increasing intra-regional trade but perhaps they need to be accelerated.

An interesting and notable point made by Ms. Mottley at a business luncheon on Wednesday last was her comment on Guyana’s economy that it has seen the worst behind it.

Unfortunately, many locals continue to be pessimistic about the national economy and continue to unleash criticisms of the government’s economic programme and policies. Of course some of the criticisms may be justified but most are unfair and groundless and are viewed to be more intended to score political points rather than being realistic.

No doubt, the Barbadian business community, based on the observation of the Deputy PM, has been influenced to be here because of the upswing of the Guyanese economy and the opportunities for increasing bilateral trade between the two CARICOM member states.

It is most unfortunate that outsiders view the economy in a good light but some of our Guyanese only see negatives.

However, a very important and sound observation was made by Ms. Mottley when she emphasised the need for trust in order for business relations to be successful and acknowledged that opportunities for investment abound which could lead to symbiotic relations.

Now that representatives of the Barbadian business community along with the Deputy PM have demonstrated their keen interest and commitment on forging greater business and trade ties, the ball is now in the court of the Guyanese business community to seize this opportunity and make optimum use of it in the mutual interest of Guyana and Barbados.

The Barbadian delegation will be exposed to most of what Guyana has to offer at GuyExpo, its biggest trade exposition, and therefore on returning home would be in a better position to identify and pursue those areas of business interest to them.

It is hoped that successful business agreements would be clinched and that this occasion will mark the beginning of a booming trade relation between the two countries which have long enjoyed friendly and historic ties but somewhat tainted by the manner in which Barbadian immigration officials treat Guyanese nationals.

Guyana has an abundant supply of fresh fruits and vegetables and processed ones as well, and with the Barbadian economy being pivoted on tourism, it could become a large supplier of food items to the hotel and catering industry there.

One of the major concerns of the region is its excessively high food import bill of over US$3 billion annually, but equally worrisome is that many of the products imported could be obtained intra-regionally and are of a higher quality.

This concern has been recognised throughout CARICOM and under the Jagdeo Initiative it is intended to reposition agriculture in the region and to place it on the front burner.

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