President of Guyana Irfaan Ali is urging the Caribbean Community (Caricom) to collaborate and implement decisions aimed at removing trade barriers that are impeding the development of the region.

Addressing the President’s Dinner and Awards Ceremony of the Trinidad and Tobago Manufacturing Association (TTMA) held recently, Ali said there was a need for the region to unite and create new business prospects.

Ali, who has lead responsibility for agriculture, agricultural diversification and food security in Caricom, said the region is importing three times more than it is exporting and that the number is higher for manufactured goods, which average at seven times more than what is exported.

“… And [we are] doing so when we have countries in the group with natural resources that can match it and be an alternative. We are doing so when we have energy costs in countries in a region that is as competitive as any other in the world. So what is lacking? What is causing this gap? Can’t we do this?” Ali posed.

He further pointed out that, while he would have loved to have seen much more accomplished out of the Caricom Single Market and Economy (CSME), there are issues of various individual barriers to trade imposed by member countries stifling the progress.

The CSME allows for the free movement of goods, skills, labour and services within the region.

Citing the relative geographic closeness and strong cultural ties, Ali said Guyana and Trinidad and Tobago should “marry” their competitive advantage in developing industries to create opportunities for both countries’ manufacturing and services sectors.

He believes there are strong economic linkages, with trade being valued at more than half a billion US dollars in 2020.

He noted that Guyana imported US$514 million in products and services from Port of Spain, while Georgetown exported US$35 million.

‘Today, we continue along the path of cooperation, building on the strong foundation and relationship between Guyana and Trinidad and Tobago. Indeed, this collaboration must be to the mutual benefit of both countries, solidifying the important partnership between our countries,” he said, outlining the opportunities for investment in his country as it develops the newly found oil and energy sectors, as well as other areas of the economy.

He added that Guyana, being resource-rich in land and fresh water, is desirous of leading the charge by making available appropriate lands as part of the process of promoting cross-border investments in agriculture. He recalled the offer made as far back as 2013, in which Guyana had opened land to Trinidad farmers but said little use was made of that offer.