Greater collaboration on agriculture, food security being pursued by Guyana and Brazil

The Government has disclosed that Guyana and Brazil are aggressively working to fully operationalise their Agreement on Cooperation and Facilitation of Investment (CFI), to open more doors to economic ties. It was noted that this approach comes at a time when the two South America nations plan to pursue greater collaboration in the area of agriculture and food security.

President Irfaan Ali and Brazil’s President, Jair Bolsonaro, held detailed discussion on the matter, at the Arthur Chung Conference Centre (ACCC) on Friday, during Brazil’s President one- day official visit. It was revealed that both Presidents, among other things, stressed the importance of expanding and diversifying agricultural trade, through information sharing and best practices. “We had the opportunity to further deliberate and concretise action plan moving forward, [one being] food security, not only from a Guyana- Brazil perspective, but a Caricom perspective,” Ali was quoted as saying.

Further, the Heads of State want to ensure that their respective countries play an integral part in the region’s move to reduce the billion dollars food import bill by 25 per cent come 2025. As such, the signing of the CFI agreement between Guyana and Brazil late 2021, will provide a framework for cooperation and support to investors from both countries. This will see a number of mechanisms for risk mitigation and prevention of disputes, among other instruments will be agreed on by the countries.

It was noted that the agreement will also create and maintain favourable conditions for investors, bringing a wide-range of mutual benefits. Guyana’s President expressed belief that the establishment of a deep-water port in Guyana, could have a beneficial impact on the development of trade, even beyond Guyana and Brazil.

He said that the possibility of a complementary rail link between the two countries was also highlighted. Both Presidents acknowledged the important role that the border communities of Guyana and Brazil play in the development of the two countries’ relations.

Therefore, they agreed to ensure that the understanding aimed at addressing issues specific to those communities on trade and consular cooperation, would be fully and effectively implemented. It was revealed that the Government, through the Agriculture Ministry, has been working assiduously to diversify the industry, ensuring it remains viable. Additionally, Guyana’s food sector has seen major investment despite minor challenges to date.