Guyana’s agriculture sector is looking forward to more promising ventures with the Guyana-Barbados food terminal which will rise in the seven acres of land in Lears, St. Michael, Bridgetown in Barbados. Once completed, the multi-purpose facility will house 45 containers, cold storage and packaging and processing plants, and a large water reservoir. A portion of the land will also be utilized for crop production.
Honorable President Dr. Mohamed Irfaan Ali explained that the food terminal is more than just a structure. It will significantly boost the agriculture sector and open investment opportunities. This, in turn, will help move Guyana’s local produce across the region giving the Guyanese agriculture sector access to new markets in the Caribbean and beyond.
Farmers are also excited about this recent development especially since the operation of the food terminal will result in a 25% decrease in the food import bill in CARICOM member states. This decrease will help reduce local produce costs which would make Guyana products more competitive in the market.
Given the projected impact of the Guyana-Barbados food terminal in promoting innovation and expanding the reach of Guyana’s and Barbados’ agriculture sectors, the food terminal project is expected to be replicated in other areas in the CARICOM region.
The food terminal is a testament to the efforts of the CARICOM region to provide a conducive environment for local and international businesses to flourish, a strategy that the Guyanese government has been credited for. For the past years, Guyana has been implementing policy changes that have significantly increased the country’s attractiveness score among investors. And, Barbados is following suit, starting with addressing trade barriers.
Aside from the people in Guyana, this new development will also benefit parties who have trade agreements in the CARICOM region as well as investors.
Indeed, once the Guyana-Barbados food terminal is completed, it will pave for more agriculture-related investments by local and international companies. Taking advantage of this development would require having a trusted local partner to help establish these businesses.
Excel Guyana’s leadership team has more than 30 years of experience in building businesses in Guyana and the CARICOM region. With more than 10 years of local presence in Guyana, it has established business and supply chain networks in Argentina, Brazil, Canada, China, Colombia, Mexico, the United States of America, and Venezuela. Excel is committed to providing investors with all that they need to establish their business in Guyana through government relations and orientation, construction management, procurement and logistics, employee relocation, recruiting and human resources and expert accounting among others.