EU Ambassador to Guyana Robert Kopecky and GuySuCo’s Chief Executive Paul Bhim
European Ambassador to Guyana Robert Kopecky said that given the importance of sugar to the Guyanese economy, its future will result in an even more competitive and prosperous sugar industry.
The ambassador made the comments after recently completing visits to the Guyana Sugar Corporation headquarters at Ogle and the Enmore Packaging Plant on the East Coast of Demerara.
Kopecky was welcomed by GuySuCo Chief Executive, Paul Bhim at the company’s headquarters.
Subsequently, he visited the Enmore factory and estate, where a modern packaging plant was commissioned on May 9.
According to an EU release, this important investment was part of the EU support towards the sugar industry in Guyana. The specific support for ACP Sugar Protocol countries came into place in 2006 after the World Trade Organisation (WTO) ruling mandated the EU to change its sugar regime.
Consequently, the preferential prices that the EU had been paying for imported raw sugar from ACP countries, including Guyana, had to come to an end. Nevertheless, the EU decided to provide funds for 18 sugar protocol countries, including Guyana, to support accompanying measures to mitigate the effects of the revenue reduction in the respective countries.
The government of Guyana decided to remain in the sugar production sector and improve its competitiveness, so the accompanying measures are directed towards the sugar industry, the EU said.
“The EU is making available an amount of 150 million Euros (over G$ 9 billion) for the period 2007-2013 to support the sugar sector in Guyana through sector budget support. Guyana is the second largest beneficiary of the sugar funds (after Mauritius). Until today, 69,250,150 Euros (G$ 18.14 billion) was disbursed to the government of the Cooperative Republic of Guyana for support to the sugar sector.”
“The assistance is being provided through a direct budget support mechanism and the disbursements are triggered by the achievement of performance indicators monitoring the implementation of the sector policy on sugar,” the union said.
Funds are also being channeled towards studies, evaluations, and audits to ensure effective implementation.
The EU is confident that the funds provided to the government of Guyana will result in the upgrading of the factories, land conversion, and improving agricultural operations. Given the prospective future the sugar industry has worldwide, (sugar is one of the basic staples), as the world’s population and middle class grows and their purchasing power increase, the EU believes that all these efforts will result in an even more competitive and prosperous sugar industry.
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