-says such partnerships will reduce region’s food import bill, achieve food security

WITH opportunities for diverse investments in the Caribbean’s food production sector, Guyana’s Agriculture Minister, Zulfikar Mustapha, has called on the private sector in the European Union (EU) to partner and invest in agri-businesses in the region.

Mustapha, who chairs the special ministerial task force for food production and food security in the Caribbean Community (CARICOM), on Thursday spoke during the CARIFORUM-EU Economic Partnership Agreement (EPA) webinar, where stakeholders discussed agriculture, fisheries, food processing and trade-related matters.

“There has been a visible shift in CARICOM’s focus with regards to ensuring food security and promoting self-sufficiency thus creating an opening for diverse investment opportunities and a competitive edge in production,” Mustapha told those gathered.

According to Mustapha, opportunities are vast in the production of poultry, corn, soya, niche vegetables, citrus, fisheries (aquaculture) and nutraceuticals.

He further alluded to the efforts the region has been making with the “25 by 2025 Initiative” to reduce its food import bill.

“The initiative addresses cross-cutting issues, such as barriers to trade, financing, developing insurance, market facilitation and transportation, all of which are necessary to ensure a favourable investment climate in the region,” he said.

With much progress already made, significant opportunities are available in agro-processing, shipping logistics and other support services for food and agriculture.

“Through collaboration, knowledge sharing, and partnerships, we can build a resilient and sustainable agricultural sector that benefits our nations and fosters regional integration.

“The private sector involvement in our collective efforts towards achieving ‘Vision 25 by 2025’ is critical, as the public resources are not sufficient by itself. Their role and participation will be a deciding factor if we will be able to achieve our set goals and targets as well as how fast we achieve those,” Mustapha added.

Meanwhile, Mustapha noted that the respective CARICOM nations have been creating enabling environments for investments.

“We have been creating enabling environments for investments by ensuring our policies support growth and improved private sector investment for improved competition, improved value chain performance, protection for private sector Investments and for logistical advancement for intra-regional trade.

“We encourage the EU private sector to foster valuable agri-business partnerships in the region. The opportunities for investment are vast as the Region pushes the food security agenda,” Mustapha said.

Thursday’s webinar followed the completion of a study titled “Agriculture, Fisheries and Food Processing in CARIFORUM.”

According to the European Union, it is the third in a series of studies commissioned by the European Commission to raise awareness of the economic opportunities related to the CARIFORUM-EU Economic Partnership Agreement, to enable the EU private sector to foster valuable business partnerships in the region.

Stakeholders were able to discuss emerging trade and investment opportunities in agriculture, fisheries and food processing, as well as priority subsectors for EU trade and investment. They were also able to explore conditions for market access and the ease of doing business.

Smaller meetings were also held with various stakeholders to validate and discuss the findings of the study and advise on the next steps for investing in particular areas.