AGRI-Invest Country Profiles

MESSAGES

Agri Investment Forum & Expo, 2022

Leveraging Private Resources - Developing the Regional Agri-Food System

ParticipationbytheCaribbeanCommunity(CARICOM) private sector in the regional integration process is a critical component for realizing sustainable economic growth and development among the Member States. The CARICOM Private Sector Organization (CPSO) was established in direct response to this call from the CARICOM Heads of Government (CHOGS) at the 18th Special Meeting (3-4 Dec. 2018), “to provide for the more structured participation of private sector and labour in the work of the Community.” The CPSO is a ‘service organisation’, with the mandate to mobilize, coordinate and advance private sector participation in CARICOM, towards supporting the full implementation of the CARICOM Single Market and Economy (CSME). Issues related to health, food and nutrition security, and the Region’s high food import bill are high priorities on the CARICOM agenda. In the early stages of its existence and development, the CPSO contributed toward addressing these challenges through the identification in its Study1 ‘of seven priority agri-food products for investment, namely Poultry Meat, Niche Vegetables, Corn, Soya, Rice, Meat (Beef, Sheep and Goat) and Coconuts. Since then, the CPSO has undertaken detailed analysis on the business cases with the objective of increasing CARICOM’s agri-food production, beginning with Poultry in support of the Region’s objective of reducing food imports by ‘25% X 2025’. The market opportunity for expanded investment in poultry meat production in the Region has been estimated at approximately US $150.0 million.

Additionally, the analytical work by the CPSO, on behalf of the Community, has contributed to several other complementary initiatives which have catalysed interventions for the provision of critical trade and regulatory infrastructure. The CARICOM Agri-Investment Forum and Expo May 19-21, 2022 is taking place at a critical juncture for regional andglobal economies characterizedby rising food prices and hunger. The CPSO is fully committed to strengthening the positioning of the private sector as the handmaiden of regional development of the agri-food system through its ‘shareholder platform’ which spans the entire value chain, bringing together diverse stakeholders, including micro, small and medium sized producers, traders, and distributors for the benefit of the people of the Community. The CPSO also regards this Forum as an important opportunity for CARICOM’s agri-food stakeholders to engage the challenge of contributing to regional and global food and nutrition security. CARICOM’s private sector is engaged as never before. The CPSO’s work on the investment business cases for the seven identified agri-food products potentially holds significant advantages for intra- regional trade expansion, foreign exchange earnings / savings, public-private partnership, innovation, and technology advancement, all of which will contribute to CARICOM’s agri-food competitiveness. Contact email: info@thecpso.org Website: www.thecpso.org

1 Twenty-Five by 2025- Reducing CARICOM’s Agri-Food Imports: Opportunities for CPSO Participation”, (Thirty-First Inter-Sessional Meeting of CHOG, 18-19 February 2020)

11

Made with FlippingBook Learn more on our blog