Fix intra-regional trade barriers ahead of local manufacturing boom – PSC Chairman

May 24, 2024 News

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Kaieteur News – In light of the recent brouhaha surrounding the prevention of locally produced milk from entering Trinidad and Tobago recently, Chairman of the Private Sector Commission, Komal Singh, has committed to working along with other partners and governments to remove non-tariff barriers that exist for trade within the region.

This, more so with the projected expansion of the domestic manufacturing sector, coupled with the soon to be introduced intra-regional ferry service, initially between Guyana, neighbouring T&T and Barbados. Singh gave the remarks at the 32^nd Annual General Meeting for the Private Sector Commission, held at the Georgetown Marriot on Wednesday last.

Addressing the business leaders, members of the diplomatic corps, and government representatives among other invitees, the PSC Chairman referenced the construction of the Gas to Energy Project, which according to him, would see the manufacturing sector particularly benefitting from the tremendous boost.

A boost, he said, that will create opportunity not just locally but regionally, adding that this would be aided with the ferry service which should be started very soon. With this in mind however, he cautioned “we need to capitalize on that opportunity to make sure our goods and services can reach outside the bounds of Guyana easily.” As such, he proffered that the Private Sector will continuously work with government and the regional partners “to make sure that all those non-tariff barriers that go against the will of our Guyanese businesses and that stop our Guyanese goods and services from entering other markets,” are removed.

This, in a situation where the Guyanese market is open to almost any goods and services being imported. To this end, the PSC Chairman was of the view, “we in the Private Sector Commission also need to be very aggressive going forward to make sure that whatever non-tariff barriers exists that prohibit our goods from accessing other markets we need to go and analyze those and work aggressively to have those removed as quickly as possible.”

According to Singh, “we (in the PSC) do not want those non-tariff barriers to exist when our industry start growing rapidly from the manufacturing sector end.” With the completion of the Gas to Energy project, Singh said it was imperative that the Private Sector and other members will continue to review those non-tariff barriers and to look at ways and means to remove and work to with government and the other counties to have those removed as early as possible.

Reflecting on the challenges of the past year, Singh bemoaned that the sector continues to be afflicted by a loss of skill labour, a challenge that has to be confronted head on. He told those in attendance, “we have seen over the last years that our business sector have faced tremendous amount of challenges when it comes to skilled workers and access to the labour market to satisfy the growing need that is taking place.”

With this in mind, he was adamant “it is very important, that we as business leaders work together to train most of our people who are unskilled, to work with them to bring that skillset up so that we can achieve the growing skills that is required in the Private Sector.”

This he conceded cannot be done alone and as such lauded proper consortiums and partnership “as we go along” citing recent achievements had with through formal relationships formed through government assisted networking opportunities.

Acknowledging the government’s support to the Private Sector, Singh used the opportunity to publicly thank “His Excellency” for setting the pace and creating opportunity for businesses in Guyana. To this end, he urged that for the challenges in the private sector to be met head on, “we have to take it very seriously, if we are to work with government to develop Guyana; to achieve the 2030 vision that is set out by His Excellency.”

According to Singh over the past year, the President and his government has supported the sector in part by allowing delegations to accompany government outreaches “some (of which) turn out to be very fruitful business opportunities that are very active today.”

With the developmental trajectory forecast for the country, Singh was optimistic that the Private Sector Commission, indeed has the opportunity to be the engine of growth in the country, since the development apace across the country does in fact have a concomitant positive ripple effect on the economy. According to Singh, “The narrative we have seen from time to time that Guyana have a lot of people below poverty line, in our view from the Private Sector doesn’t not make sense.” He qualified this position saying “…no Guyanese at this moment should be out of a job; Guyanese at this time works for maybe US$20,” and as such, “we should not allow it (the poverty narrative) to “run through our society and intimidate our Guyanese people from capitalizing on the opportunity.”

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• Barriers, Chairman, Chairman of the Private Sector Commission, Komal Singh, Trinidad and Tobago

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