Georgetown : Secretary General of the Caribbean Community (Caricom), Irwin La Rocque commended the local private sector’s contributions to Guyana’s growing economy, amidst challenges faced by global and regional economies. In recognising Guyana’s achievements amidst the trying times, La Rocque pointed out that the country’s economy continues to grow at a pace that leads the region.
The sentiments were expressed on Friday evening as the Secretary General delivered the feature address at the Guyana Manufacturing and Services Association’s (GMSA) annual dinner and awards ceremony at the Princess Hotel.
“According to the Caribbean Development Bank, Guyana is one of only three Caricom member states to exceed the global average of 3 % growth in 2013.”
Guyana is also one of five CARICOM countries with debt to GDP ratio below the international benchmark of 60%, while export from Guyana to the rest of the community has been growing by approximately 10 % per years.
“These are all positive indicators, but to sustain them here and elsewhere we must continue to enhance regional cooperation cross a broad range of fronts, economically, socially, and in every other way.”
The Secretary General reminded the members of the private sector of their role in sustaining this growth.
“As members of the private sector you are key players in the drive towards increase prosperity for the people of this country and region.”
This event, which is a highlight on the GMSA’s calendar, saw several local businesses awarded for their exceptional and longstanding achievements.
In noting his delight at being invited to such an auspicious event, La Rocque congratulated the recipients who were awarded in the areas of export achievement, new and innovative technology and those for life time and long service.
“You all have reason to be proud of your achievements, your enterprises, and your efforts as promoting Guyanese goods and services.”
Having conceded that much has changed in Guyana, Caricom, and the rest of the world, La Rocque said the Community has devised a five-year strategic plan to aid its member states amidst these changes. He reminded that Caricom has begun a process of reform, a critical part of which is the five- year strategic plan which was approved in July of this year.
He noted the persistence of the private sector in its request for a seat in the councils of the Caribbean community.
“I have heard you, our leaders have heard you, last July the head of government and the captains of industry had a frank exchange on the challenges facing our region.”
Further La Rocque said that COTED has recognised the private sector as a partner and agreed that it must take part in the deliberations in some way.
“You would recall there was an earlier joint agreement with the private sector to create a Caribbean Business Council to represent the diverse interest of the private sector to the organs of the community.”
As this process in ongoing, La Rocque said Caricom continues to look forward to the creation of the Business Council.
“In the mean time, I proposed and the ministers agreed that COTED will engage the Caribbean Association of Industry and Commerce pending the creation of the CBC.”
Further, he added that even with new threats emerging, including, health, geopolitical and climate change, the private sector needs to critically examine enterprise on a regular basis to ensure that it is efficient, effective, and relevant, and meeting the needs of the market.
In the interim, Caricom’s strategic plan will continue to focus on economic, social, environmental and technological resilience.
Meanwhile, Chairman of the GMSA, Clinton Williams in his remarks noted that the event is the association’s means of tangibly recognising the strides that were made and are being made by manufacturers and service providers.
“This has been a very eventful year for us, both through our own interventions, and via advocacy in response to emerging socio-political and socio-economic environment at the national level, which demands our timely intervention.”
Williams also spoke of the private sector’s contribution to the country’s overall growth despite the many challenges.
“The Guyanese economy has been consistent in recording the 5% average growth over the past five years. The main sectors contributing are gold and diamond, wholesale and retailing trade, rice and seafood, building and construction and communication technology.”
All this, he noted, has been achieved in spite of the effects of the global economic crisis still lingering.
Among the companies awarded were, Sterling Products Limited for their longstanding services to the agro-processing sector, Banks DIH limited for their determination to certify every plant, Edward B. Beharry for the effective energy management through the introduction of new and innovative technology, Gafsons and R. Bassoo and sons for their contribution to the building and construction sector.
Environmental Management Consultants (EMC) was awarded for ensuring compliance with the Low Carbon Development Strategy (LCDS) and other environmental tenets.
Modern Industries Ltd received the lifetime achievement in recognition of the company’s determined leadership in furniture manufacturing.
GMSA’s chairman, Clinton Williams also received a lifetime award for long and dedicated service to the public and private sectors including manufacturing, shipping, forestry and mining communities, and occupational skills training.
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