PM Phillips praises shipping association’s focus on trade facilitation

IN light of the current economic and business climate and the extensive developments occurring nationwide, Prime Minister, Brigadier (Ret’d) Mark Phillips, praised the Shipping Association of Guyana for its apt theme, “Enhancing Regional Trade Facilitation and Trade Corridors.”

Speaking at a Business Luncheon hosted Wednesday by the association at Marriot Hotel, the Prime Minister emphasised the relevance of this theme as Guyana strives to improve and expand its trade and maritime sectors.

Prime Minister Phillips noted, “Guyana, as we all know and agree, is on the fulcrum of rapid development, particularly driven by the booming oil and gas sector. Developments like the Liza Phase One and Liza Phase Two projects have significantly increased our production capacity. The expansion of the Stabroek Block and the Payara project also adds to the growing necessity for advanced logistics and shipping solutions.”

He highlighted the construction of onshore support facilities, such as the Guyana Shore Base Inc., which has become a hub for storing and transporting essential equipment and materials. The Prime Minister stressed that effective logistics and shipping are more critical than ever, given Guyana’s economic growth and development.

“These efforts create a seamless, efficient, and secure flow of goods and services across borders, essential to supporting our country’s increase in economic activities,” Phillips said. “Through improved trade infrastructure, as a government, we envision increasing access to new markets, reducing trade costs, and enhancing competitiveness on a global scale for businesses, our people, and, by extension, all of Guyana.”

He further explained that such initiatives would have a trickle-down effect, resulting in increased employment, foreign investment, and economic resilience. Phillips emphasised that the government’s approach aims to ensure the economy benefits from Guyana’s natural resources.

The Prime Minister also acknowledged the significant progress made in Guyana’s maritime services, giving special recognition to the Minister of Public Works, Bishop Juan Edghill. Edghill had highlighted substantial expenditures in port infrastructure and facilities to keep up with the rising demands of global trade.

“Today our government has been processing several applications for new port facilities, which are essential for managing the influx of goods and services related to oil production. Millions of dollars have been invested in enhancing our maritime space, including developing deep-water ports and improving docking facilities,” Phillips stated. “Over one billion dollars have been allocated to modernising the sector by the government of Guyana, with significant upgrades to the Vreed-en-Hoop buoys and beacons facility, which plays a crucial role in navigational safety. This investment ensures that our ports are equipped to handle larger vessels and increased cargo traffic.”

The Prime Minister also mentioned that the Commonwealth Marine Economies Programmes have enabled the government of Guyana to complete a national maritime economy plan. He emphasised that that was a significant step forward for blue economy initiatives aimed at managing and utilising the country’s marine resources sustainably.

These developments, according to Phillips, will ensure that Guyana’s maritime sector is well-equipped to handle the logistical needs of facilitating efficient and secure trade corridors, essential for economic growth. He noted that regulatory frameworks, port facilities, and customs procedures have all improved due to government’s cooperation with private sector players, enhancing Guyana’s capabilities and making it a desirable hub for marine-related industries in the region.

Prime Minister Phillips acknowledged the areas that require attention and concerted efforts. “The pressing need to address shipping woes such as infrastructure, security threats, and logistical inefficiencies must be tackled head-on. Our government recognises these challenges and is committed to implementing strategic solutions to alleviate them. We are also working on comprehensive plans to further upgrade our port facilities, enhance security measures, and streamline regulatory processes. Our goal is to create an environment where maritime operations can thrive to ensure the safety and efficiency of our shipping corridors.”

The Prime Minister also stressed the importance of safety within the maritime sector and urged everyone to recognise and adhere to safety rules and security at every port.