COUNSELLOR for Guyana at Inter-American Development Bank (IDB), Sheranne Isaacs, has urged the Region to place greater emphasis on technological innovation to keep abreast with advancements in the rest of the world.

At the opening of ‘Smart Caribbean: Marshalling a Prosperous Blue Economy’, hosted as part of Caribbean Legislative Week in Washington on Thursday, Isaacs stated that, for too long, the Caribbean has been playing “catch- up”.

She informed the audience that workers are now being challenged to re-equip and re-skill themselves to remain relevant and to meet the drive for innovation.

However, she stressed that the Caribbean must not be left behind in this change over.

“Whilst much is required to ride the new technological wave, we in the Caribbean Constituency strongly believe that the Region must position itself to benefit from the many opportunities offered by the smart revolution,” she said.

“Technological advancements continue to outpace our Region’s modest achievements in implementing SMART solutions. In order for the Region to remain competitive, we must apply radical thinking in playing, what we in the Caribbean call ‘catch-up’, and where possible, explore and carve out niches for the Region which will allow our countries to become global leaders in the provision of some technological solutions and products,” Isaacs further stated.

She told the attendees that they must no longer await the actions of Regional bodies, but must find innovative and creative ways for regional integration.

Using Guyana as an example, Isaacs pointed out that the opportunities which lie ahead as a result of massive oil finds cannot be capitalised upon with a population of less than a million affected by brain drain.

“In this regard, the Government of Guyana acknowledges solutions that exist via exponential technologies, regional integration, as well as harnessing the potential of the Region’s diaspora. I believe that this approach can also be applied to different spheres of initiatives at the country level,” the counsellor stated.

Meanwhile, she reminded that the IDB and its partners continue to ensure that the right financial instruments and products are in place to support the Region’s private sector.

She said that the bank is also working with its private arm, IDB Invest, and the IDB Lab which supports innovation and the development of new products.