– as region eyes multi-billion dollar agricultural market
GUYANA’S Chief Investment Officer, Dr Peter Ramsaroop, has emphasised that an entirely new logistics sector is emerging in the Caribbean, positioning Guyana and its neighbours to capitalise on a lucrative regional agricultural market worth billions of US dollars.
Dr Ramsaroop made the remarks during the launch of the International Business Conference (IBC), which will be hosted this October by the Suriname-Guyana Chamber of Commerce (SGCC). The conference is expected to bring together regional business leaders to chart pathways for deeper economic collaboration.
Highlighting the region’s potential, Dr Ramsaroop pointed to staggering figures: “Jamaica imported US$1.2 billion worth of food from all over the world, not from Guyana, Suriname, Northern Brazil or the Caribbean. Trinidad imported another US$1.2 billion. Barbados imported US$400 million. We are sitting on a gold mine between these two nations.”
He proposed a collaborative approach to harness this untapped opportunity, suggesting that businesses in Guyana, Suriname, Northern Brazil and other parts of the Caribbean should join forces to “own this US$6 to US$10 billion agricultural market.”
“We are bridging these countries to deliver products and policies that will integrate the wider Caribbean region,” Dr Ramsaroop added, underscoring the importance of improved logistics and coordinated strategies to meet regional demand with local supply.
His remarks echo sentiments recently shared by President, Dr Mohamed Irfaan Ali, who, in his CARICOM Day message, underscored the urgent need to boost intra-regional trade as a driver of economic growth and resilience within the Caribbean Community (CARICOM). The President highlighted Guyana’s expanding food production and growing energy resources as key enablers of this effort.
This push for greater regional integration comes as significant steps are being taken to strengthen logistics and transport links across the Caribbean. In 2024, CARI Cargo Inc. — the company behind the regional ferry service connecting Guyana, Barbados, and Trinidad and Tobago — was officially incorporated. This initiative aligns with the Caribbean Development Bank’s goal of enhancing food security and regional co-operation.
The service is expected to prioritise the movement of agricultural produce, with Trinidad’s Galleons Passage identified as the vessel to operate the route. The ferry, which has a capacity for 400 passengers and 60 vehicles, is equipped with amenities including a cafeteria, bar, and VIP lounge, positioning it to play a crucial role in bridging markets within the region.
With investments in logistics infrastructure and strategic partnerships on the horizon, Guyana and its regional partners are aiming to transform the way food and other products move across the Caribbean, unlocking new economic opportunities and advancing the region’s food-security agenda.