(CARICOM Secretariat, Turkeyen, Greater Georgetown, Guyana) H.E. Edwin Carrington Secretary-General of the Caribbean Community (CARICOM) said the Region needed to change the general unfavourable investment climate for agriculture, relative to other economic sectors.

Investment in the agriculture sector, he said was central to the achievement of the primary objective of the CARICOM’s Agricultural Policy.

“Unfortunately, the data shows the less dynamic nature of agri-food investments when compared with other sectors due in part, to a generally unfavourablei investment climate for agriculture relative to other economic sectors. This is what we have to change,” he said.

The Secretary-General was at the time addressing the opening ceremony of the CARICOM Agriculture Investment Forum on Friday 6 June 2008, at the Guyana International Conference Centre. The Forum is being held against the background of the rising cost of food on the one hand, and, on the other, the Region’s efforts at addressing the decline in investment in agriculture, one of the key binding constraints in the Jagdeo Initiative.

The current global and regional environment, the Secretary-General said positioned the agriculture industry to be among the higher earning investment possibilities.

While he acknowledged the market-driven investments and micro and small scale agri food sector investments in the Region, he nevertheless lamented the fact that it was not enough.

“… such investments are all too few and hence, have had limited impact on stemming the decline in regional agriculture,” the Secretary-General said.

“It is our hope therefore and indeed our expectation that this Forum could lead to the realization of some of the possible benefits from a re-energised agriculture sector – increased production, trade and, above all, food security in this era of global food scarcity and rising food prices.

“This is our hope; this is our objective; this is our commitment and I hope we can say this is our achievement,” the Secretary-General said.

Noting that the timing of the Forum was propitious given the global preoccupation with agriculture, Mr. Carrington pointed out that the Community had already begun to focus on the industry even before the current situation of rising prices and scarcity of food supplies.

“The issue has been a critical item on the Agenda of Meetings of the Conference of Heads of Government in recent years and the Lead Head of Government with responsibility for Agriculture, His Excellency President Bharrat Jagdeo, has been giving dedicated attention to ensuring and facilitating increased commitment to removing the key binding constraints to the development and competitiveness of agriculture in our Community,” the Secretary-General said.

President Jagdeo, Dr. the Hon. Ralph Gonsalves, Prime Minister of St. Vincent and the Grenadines, and Mr. James Moss-Solomon of the Agriculture Investment Forum Task Force also addressed the opening ceremony.

Contact:  piu@caricom.org