Team members were hosted at a reception yesterday afternoon at the Cara Inn, Georgetown by the Guyana Private Sector Commission (PSC).

PSC Chairman, Dr. Peter De Groot told the Chronicle that one of the objectives of the reception was to provide an opportunity for the visiting delegation and members of the local business community to "familiarise" with each other and to hold informal discussions on possible joint ventures and trade between Guyana and Brazil.

Speaking at the reception, Deputy Federal Director of Roraima, Mr. Francisco Rodriguez said that because of Guyana's geographic location it is a strategic partner in furthering the South American integration progress among French Guiana, Suriname, Brazil and Guyana.

He said several proposed joint projects between the governments of the two neighbours, including the Georgetown/Brazil Road, installation of a fibre-optic cable link between Georgetown and Manaus and the development of the hydroelectric potential of Upper Mazaruni will have a positive impact on the integration progress.

To facilitate the implementation of these projects, the Brazilian Government will be establishing a commercial centre at Boa Vista, the capital of the border Roraima state, he said.

With courage and determination the integration process can be accelerated to the mutual benefit of the people of both countries, Rodriguez added.

He said Brazil, the ninth largest economy in the world, with a population of more than 175,000,000, is anxiously looking forward to the acceleration of the integration process, so that the quality of life of the people of both countries will significantly improve.

De Groot, in his presentation, noted that the local business community is encouraged by the improved road link between the two countries.

He said the completion of the Takutu Bridge will facilitate increased trade and business and the movement of goods through Guyana will stimulate the growth of the services sector here.

He observed that local businessmen are somewhat worried about cheaper Brazilian goods overrunning locally produced items.

However, he exhorted the local business sector not to become engrossed with threats, but to explore the opportunities for doing greater business and at the same time gear production for larger markets.

In the process cheaper goods would be produced and Guyanese products would become more competitive, he said.

He said yesterday's meeting was only one opportunity among several others to be held to facilitate discussions between the Brazilians and their local counterparts in the process of forging closer business ties.

Minister of Trade, Industry and Commerce, Mr. Manzoor Nadir said the Guyana Government was increasingly moving in the direction of the private sector playing the leading role in the national developmental process, and with cooperation and help from Brazil the barriers that impede trade and business ties would eventually be brought down.

The Government was receptive to investment and will roll out the "red carpet for the investment dollar", he said.

He reassured that the Government was "moving full steam ahead" to complete the road link between Georgetown and Brazil to facilitate greater trade and the integration process.

Nadir noted that during last year goods imported from Brazil to Guyana were five times the volume from Guyana to Brazil, but he pointed out that this was at the expense of trade with the north.

Freer trade helps to reduce tariffs and ultimately benefits all consumers, he said and noted that while goods from Brazil will pose competition for the local business community, produce from Guyana will also present competition for their Brazilian counterpart.

Nadir was optimistic that negotiations between the Brazilians and Guyanese would be fruitful and assured that his ministry was prepared to provide assistance to facilitate those discussions.