Indar calls for more exportation of local goods

first_img– laments high trade deficitPresident of the Georgetown Chamber of Commerce and Industry (GCCI), Deodat Indar, is calling on stakeholders to increase their exportation of locally produced and manufactured goods, as he highlights the continuous increasing of the country’s trade deficit.During a presentation at the Annual General Meeting (AGM) of the Private Sector Commission (PSC) last Thursday, Indar drew attention to the figures from the Bureau of Statistics regarding Guyana’s exports in the first quarter of 2018.He noted that from a total export of US$325 million between January and March, 59 per cent is raw gold; bauxite represents 9.6 per cent; and shrimp and prawns 8.8 per cent. However, what was more startling, the GCCI head pointed out, are figures like 2.5 per cent for timber export, one per cent for sugar, and fruits and vegetables one per cent as well.“[Those are] very strong figures for such very large industries…that is something that needs to be looked at seriously, because those are main foreign currency earners… and this is just the first quarter information… So that is telling a story that we need to export more in the different sectors, not just the primary commodities. Our finished product, manufactured goods and so, needs to be exported, and in that way we can build our export capacity,” he posited.Indar, recently elected PSC Vice Chairman, went on to highlight some of the bottlenecks in Guyana’s exportation capability. He explained that while GuyanaGCCI President, Deodat Indarhas a liberalised trade policy with many agreements with different countries, the country does not always reap the benefits.“We have bilateral agreements with Colombia, with Costa Rica, DR (Dominican Republic), in Argentina and in China; as well as partial scope agreement with Brazil. So we have all of these agreements, but the question is: Is it to the benefit of the Guyanese businesses?” he asked.The GCCI President turned his attention to the ‘CARICOM Bloc’, saying that although the region remains accessible, the single economy aspect is something that continuously needs to be worked on. He outlined that the local private sector finds that while there is some level of integration between Caribbean partners, there are some things that still need to be ironed out; such as certain clauses in the Treaty of Chaguaramas.He mentioned as an example that if Guyana wants to export honey, it cannot go to Trinidad, or even via Trinidad, and this stifles honey exportation here.He outlined that despite the Bureau of Statistics’ figures showing trade deficits for 2014, 2015, 2016 and 2017, there seems to be a closing of the gap; which says that more locally-produced goods are being used, and local consumption of manufactured goods is being promoted. This, he said, is a good trend, and would lessen the effects of Guyana suffering from export shocks and commodity prices.According to Indar, Guyana has recorded continuous trade deficits in recent years, and there are different reasons behind this.“But the thing is: if we go into agreements initially, we find ourselves importing more than we export. How do we deal with that? That’s a conversation that the private sector has to work with the Government on, to try to set up all of the institutions, all of the competitive structures that are needed to take different sectors and make them export-ready. We do have some, and I think we need to broaden those,” the GCCI Head asserted.Moreover, he further outlined that foreign direct investments have also been on the decrease from 2014 to 2017, and when that happens, it affects aspect of the influx of foreign currency that Guyana badly needs.He noted that most of the imports are being bought and the invoices are in US currency; so, to balance out the trade and ensure there is a stable foreign currency market, foreign direct investments are always a good thing, not only for the country, but (for) the private sector as well. Against this background, he noted that there needs to be more encouragement of non-oil investments.“So although Guyana might be 127 on the World Bank’s [Ease of Doing Business] Index, that does not stop an investor from coming to Guyana and invest in oil projects, because that’s happening now right before our eyes.But what we need to do is look at the non-oil projects, those are the ones that are on the periphery support system – in infrastructure, medicine, education, security, and all of those other things – we need to look at investments in those areas that are non-oil,” he opined.last_img read more

Bruins want to avoid bad trip

first_img Still, players and coaches – especially coaches – are creatures of habit, and there is nothing normal about this trip. The airport in Pullman is too small to land charter flights that teams use, so after a 2-hour flight from LAX to Spokane, Wash., a 2-hour bus ride south ensues. “(The drive) is going through nothing but hills,” UCLA tailback Maurice Drew said. “It’s one of the worst drives I’ve been on, but when you don’t worry about that and just concentrate on what you have to do, you’ll be all right.” Once there, the visitors are usually treated with hostility, as the current UCLA juniors and seniors learned in 2003. The locker rooms are a few hundred yards away from the stadium, and taunts by Wazzu fans usually accompany the visitors along the path. Several UCLA players complained about fans throwing stuff at them on the last trip, and strong safety Jarrad Page said racial remarks were also made. To top if off, a lapse in security allowed a fan to enter UCLA’s locker room after the 31-13 defeat two years ago. The fan taunted the Bruins before being ushered out. “Oh, yeah, they got in there,” Drew said. “They’re lucky no one got a hold of them. A lot of people were upset, but you’ve got to understand when we go up there and you have a hostile environment like that, things are going to happen. You just gotta keep your calm and stay focused.” Then there were the on-field debacles during UCLA’s last visit, which included 14 turnovers between the two teams. UCLA’s then-anemic offense gained possession inside WSU’s 25-yard line three times and didn’t score a touchdown. Later in the game, quarterback Matt Moore – a former Hart High of Newhall standout now at Oregon State – was pulled after an interception. Moore and receiver Ryan Smith then got into a heated exchanged on the sideline and had to be pulled apart by teammates. It was the last pass Moore threw at UCLA. He was replaced by Drew Olson, who is making his 21st consecutive start. The night culminated with a UCLA player pulling a drinking fountain off the wall adjacent to the locker room. The school later paid for the damage. “When they play us, they don’t give our team any respect,” Page said. “I mean, they come out and they feel like they’re going to win when they play us, no matter what type of season they’re having. They come out and play us tough, so we know what to expect. But we know also what we’ve done this year, and we know as long as we take care of our business, we’ll be all right.” Brian Dohn, (818) 713-3607 [email protected] 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! PULLMAN, Wash. – Logistically, getting to Washington State is easily the worst endeavor in the Pacific-10 Conference. On game day, rowdy fans, a loud stadium and a poor locker-room situation make it difficult for visiting teams. AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREWalnut’s Malik Khouzam voted Southern California Boys Athlete of the Week “It’s a rowdy crowd, a little town. Everything about it is college football,” UCLA senior quarterback Drew Olson said. “It’s what it’s supposed to be like. It’s a good challenge. I love playing on the road. I love road trips. I love getting on a plane. I love flying to other places and playing, seeing other schools, and playing at other schools and seeing their fans. There’s a lot of motivation for us in this game.” UCLA hasn’t defeated the Cougars since 1998, and the current collection of seniors is 0-3 against WSU. Furthermore, Olson said UCLA wants payback for the Cougars’ two-point upset win at the Rose Bowl last season. “Shoot, they beat the crap out of us last year, even though we only lost by two points,” Olson said. “They beat us. They beat us up.” It is UCLA’s first trip outside of Southern California, and early in the week Bruins coach Karl Dorrell talked about the difficulty in traveling here. But by week’s end, he downplayed the effect travel has on the game. “I don’t think this is any bigger trip than any other away game,” Dorrell said. “I think sometimes we try to portray it as you’re going to the Sahara Desert to play 16,000 miles away, and how are you going to deal with the 130-degree heat? It’s just a football game. We know we have to go up there with an expectation to win the game, playing in typical on-the-road conditions.” center_img UCLA talked all week about minimizing those distractions. Today, the 12th-ranked Bruins will find out if it worked as they play their first true road game against the Cougars at cozy Martin Stadium. And to cap it off, UCLA (5-0, 2-0 Pac-10) hasn’t won at WSU (3-2, 0-2) since 1993, and has lost the past four overall against the Cougars. last_img read more