The May 22 memorandum of understanding (MOU) signed between Trinidad and Tobago and Guyana comes at an opportune time for this country. This was the view expressed by the University of the West Indies (UWI) economist Dr Vaalmikki Arjoon in an interview on Tuesday.
The MOU was signed after a three-day Agri Investment Forum in Guyana from May 19-21. The agreement seeks to address partnerships in areas of trade and investment including non-tariff barriers, agriculture and food security, energy, infrastructure, security, education, tourism, sports and culture; with the aim of developing strategic co-operations and partnerships for both countries.
Oversight of the execution of the MOU would be under a new bilateral commission comprising both the private and public sectors.
The Prime Minister said the agreement showed that Caricom could seek and find solutions to its many problems, especially in agriculture, which was left vulnerable during the pandemic.
“In this covid19 period we found ourselves being denied access to our normal food supplies, which comes to us from Australia, New Zealand, Ukraine, Russia and the US. Our supply models are that we get our food from other people’s efforts in faraway lands.
“During the height of the covid19 period, at the extent of our vulnerability...even when we had money in hand, we could not buy food.
"That situation is not going to change, it is going to get worse. Now is the time to do what has to be done,” he said.
Rowley called on the private sector to refocus its investments in the areas of food supply, production, transportation, processing and distribution.
He added that Caricom urgently needed to make shifts in its investment patterns, partner with technical expertise and become insulated from external pressures.
“We have to look at what Caricom can and must do within Caricom to disentangle ourselves from the tenuous world food supply, that will get more troublesome, and put our shoulder to the wheel within Caricom to our own production systems, changing our supply and business models to put ourselves in supply situations that will not be impeded, destroyed or obstructed by other people elsewhere in the world,” he explained.
Guyana President Dr Mohamed Irfaan Ali, who holds the agriculture portfolio in the Caricom Quasi Cabinet, agreed that an important aspect of the MOU was private-sector involvement and felt the discussions with TT will be positive.
“We want the private sector of both countries to be fully on board, we want the investors of both countries to be fully on board, but, importantly, we want the people of both countries to be on board.” He said Guyana was well aware of the challenges that lie ahead, but was determined not to miss any opportunities for its growth and development.
There has been concern from the Georgetown Chamber of Commerce and Industry, which publicly said Guyana should not sign any MOU with TT, citing issues over non-tariff barriers.
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