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L.N. Revathy

Sathyamangalam , Aug. 28

THE Guyanese President, Mr Bharrat Jagdeo, has called on the Indian corporate sector to invest and develop the market potential that his country offered.

Stating that Guyana was a resource rich country exporting gold, diamond, bauxite, rice, sugar, manganese, etc., he pointed out that the country was basically a commodity producer.

"India has the technology and expertise. We have, therefore, requested the Indian Government to depute specialists and impart training to our countrymen. The Government has generously agreed to provide the technical skills," he told newspersons.

Mr Jagdeo, who was heading an 11-member trade delegation, visited Bannari Amman Sugars Ltd (BASL) (as the company was identified for providing a roadmap for technology up gradation of sugar mills in Guyana). When asked if his country contemplated a tie-up with BASL, he said "there are always possibilities in this world." He indicated that he had two major projects in mind. "We need to think of moving away from production of sugar to cogeneration, distillery and specialised sugars."

Impressed by the developments in India in the last decade, he said "traditionally we have strong ties because of the diaspora. What we want is support from the Indian Government."

The President has invited trade delegations for furthering the ties. Guyana, he said, was a member of the Caricom, comprising 15 countries, under which there was FTA (Free Trade Agreement) on a reciprocal basis with these countries.

"We are negotiating with countries in the European Union as well. If the corporate sector in India invests in Guyana, they can definitely reap the benefits of their investment as the potential is immense," he added. The country, he said, had initiated negotiations for attaining a "WTO Plus" Status, which would help it to boost its trade relationships. He expressed confidence of achieving this status by 2005.

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