Chief Executive Officer of GO-Invest, Mr Geoff Da Silva told the gathering that his agency is not only about encouraging and promoting foreign investment. He explained that GO-Invest facilitates all investors, and that there is no discrimination between local and foreign investors.

“Each group is given equal treatment," Da Silva added.

At present, GO-Invest is focusing on building the image of Guyana based on its natural beauty, cultural diversity and natural resources, Da Silva said. He noted that Guyana's geographic location is ideal as a “gateway” to South America. In addition, Da Silva said, Guyana speaks the universal language of international trading -- English.

Transactions with the Guyana Revenue Authority (GRA) and the Guyana Lands and Surveys Commission are being simplified to facilitate investors, and the latter recently distributed 50,000 titles for agricultural and other purposes, the CEO disclosed. He explained that the land market is a key component of the National Development Strategy (NDS).

Several business sectors have been expanding and have potential for greater investment. These include: the garment industry, furniture manufacturing, processed seafood, fresh organic fruits and vegetables and information technology among others, Da Silva informed the gathering.

He emphasised that there is a lucrative incentive regime for investors with concessions varying according to the type of investment.

United States Ambassador to Guyana Ronald Godard reiterated the strategic geographic location of Guyana as a gateway to both the South and North American markets.

"Guyana is uniquely well-positioned to serve as a bridge or gateway between the North American and South American markets, and particularly the Brazilian market, which is among the ten largest economies in the world. When the long-awaited upgrades to the Georgetown-Lethem road are complete and it becomes an all-weather artery, it will open exciting new commercial and industrial opportunities," exhorted Godard.

He observed that the roadway is even more relevant in view of the development of the Free Trade Area of the Americas (FTAA).

"This is especially true since the opening of that road to traffic throughout the year will more or less coincide with the conclusion of one of the potentially greatest trade promotion initiatives in the history of this hemisphere -- the FTAA. Heads of State at the Quebec Summit last year reconfirmed the commitment to conclude negotiations for the FTAA by January 2005. Free trade can be a powerful stimulus for growth," Godard opined.

The Ambassador pointed out that under the Caribbean Basin Initiative (CBI) Caribbean countries are to enjoy increased benefits through the enactment of the Caribbean Basin Trade Partnership Act (CBTPA) in 2000. This Act represented an affirmation of the USA’s ongoing commitment to economic development in the Caribbean Basin by giving greater access to the US market for CBI goods.

"At the inception of the CBI in 1984, traditional and primary products such as coffee, bananas, and mineral fuels accounted for a solid majority of US imports from the region. In 2000, manufactured products, such as apparel and electrical and non-electrical machinery, amounted to over half of CBI exports to the United States. In the first eight months of 2001, apparel imports represented 24.4 per cent of total US imports from the CBI region. CBI exports to the US in 2000 were US$22.2 billion, 2.5 times greater than in 1984. In 2000, the Caribbean Basin region was the ninth largest market for US exports," the Ambassador disclosed.

He explained that Guyana stands to benefit from the enhanced CBI because nearly all value added products from Guyana enter the US duty free.

Charge D'Affaires of Brazil Antonio Menezes pointed out that because of historical and geographic reasons, Brazil and the Caribbean "have stood with their backs turned to each other."

He disclosed that CARICOM accounts for only 0.34 per cent of Brazil's foreign trade, and among its member States, exchanges with Guyana rank sixth.

However, Menezes said, this situation has to change and he called for closer cooperation between Brazil and CARICOM, especially at international fora such as the World Trade Organisation (WTO) and the Summits between the European Union, Latin America and the Caribbean among others.

The Brazilian official also pointed out that physical integration between Brazil and the Caribbean is essential. "Physical integration remains the top priority in our relations. Therefore, there is no purpose in the elaboration of the most effective programmes for trade development, for technical and cultural cooperation, if we do not have the capacity to easily and swiftly exchange our peoples, our products and our cultural values. As such, the construction of the bridge over the Takutu River, though temporarily interrupted, continues to be a firm commitment of the Brazilian Government, and the upgrading of the Georgetown-Lethem road is anxiously expected by the populations on both sides of our borders," he declared.

Technical exchanges and military cooperation also form important aspects of Brazil/Guyana relations, Menezes observed, pointing out that five Brazilian military experts are conducting a course for the Guyana Defence Force staff, which will capacitate them to do the cleaning up of Camp Groomes. In addition, a number of agreements on agricultural cooperation have been concluded and implemented, Menezes said.

Project Officer of the Caribbean Regional Human Resources Development Programme for Economic Competitiveness (CPEC), Ms Malika Alleyne-Persico explained that this project seeks to enhance capacity so as to enable the region to compete on the global market.