Agriculture Minister facilitates lower export costs

Feb 18, 2009 News

Minister of Agriculture, Robert Persaud has facilitated a reduction in the cost of export trade by the companies in the wood value added sector that has been feeling the harsh effects of the global financial crisis.
This is according to the President of the Guyana Manufacturers and Services Association (GMSA), Ramesh Dookhoo.
Dookhoo said that this decision stemmed from a meeting between the Minister of Agriculture, Chairman of the Private Sector Commission, Gerry Gouveia, Directors of the GMSA and members of the wood value added group.
According to him, the global financial crisis has put extreme pressure on the wood value added sector because these are the industries that were created in Guyana by Guyanese entrepreneurs who took raw lumber and converted that into world class furniture, doors, mouldings, shingles, and other such products.
“These companies are 100 percent export geared and because of the global financial crisis, the GMSA has been paying a lot of attention to these companies in terms of how to sustain them and how to create new opportunities.”
He added that the Minister has facilitated a reduction of the cost of export trade by these companies and he hopes, as a next step, to be able to partner with the government agencies to come up with a blueprint to take this sector forward in the next three years.
“We hope that we can grow this sector into at least US$150M in exports a year. We have on the GMSA a huge advantage because we have the experts who created the sector in Guyana. Companies like Precision Wood Working, Guyana Furniture Manufacturing Limited – these companies have been on the forefront of this sector.”
Dookhoo also stated that there is a huge number of new players but because of the global financial crisis there has been a reduction of orders.
“Hopefully over the next two to three months we will be able to go back and have a ‘think tank’ on how to move this sector forward.”
At the meeting with Minister Persaud the macro environment was the main issue of discussion.
It was noted that there has been a marked decrease in orders and a number of cancellations by interested buyers.

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Agriculture Minister facilitates lower export costs

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