WELCOME REMARKS
ASG Joseph Cox
Remarks by Mr. Joseph Cox,
Assistant Secretary-General,
Trade and Economic Integration
CARICOM Secretariat
Guyana Energy Roundtable
Friday,2 December 2016
CARICOM Secretariat
It gives me great pleasure to extend to you, a very warm welcome on behalf of the CARICOM Secretariat.
The Secretariat is particularly pleased to be associatedwith this Energy Roundtable, here in Guyana, as a coorganizer. We are, of course, hosting this jointly with the Guyana Energy Agency and with the support of the Germanfinanced Renewable Energy and Energy Efficiency Technical Assistance (REETA) Programme, which is being implemented by the German Cooperation Agency (GIZ).
This event comes at the end of CARICOM Energy Month, celebrated in November. CARICOM Energy Monthis intended to serve as a period during which the CARICOM Secretariat and Member States take stock of the present state and realign the future outlookas it relates to the pursuit of a sustainable energy pathway within our region. The Guyana Energy Forum fitsappropriately within this framework.Through this session, it is envisioned that we will be able to renew contacts andidentify opportunities, as we agree also on the potential solutions to some of the challenges that continue to retard progress on sustainable energy development in Guyana, in particular, and the region, in general.
Ladies and gentlemen, there is general consensus around the fact that there is an urgent need forCARICOM countries to transform their energy situation. This transformation is one that ought to shift our country from their current state of inefficiency with dependence on mostly expensive, imported fossilfuels to one in which energy is sustainably managed through the costeffective, efficient, conversion, delivery and use of indigenous sources. This will reduce the volume of GDP and foreign exchange resources that are being spent to pay for energy imports, which could have otherwise been directed to alleviating poverty, improving healthcare and access to education, adapting to climate change and sea level rise, and other critical interventions which are necessary for sustainable development.
More specifically, sustainable energy production and use can simultaneously reduce operating cost and improve the competitiveness of the productive sectors and reduce domestic expenditures on energy services. In essence, a sustainable energy sector, when suitably crafted, can improve the economic wellbeing of citizens within Guyana and other CARICOM countries.
The energy sector in Guyana is set for a massive transformation. Government’s continued interest in and commitment to diversification of its energy supply, through consideration of renewable energy, energy efficiency and most recently, offshore oil and gas exploration, augurs well for the country and, may I dare say, for the region. In March 2013, after a gestation period of ten years, CARICOM Member States adopted a regional energy policy. The Policy calls for a transformation of the energy sector in the region and identifies a number of common strategic objectives. Key among these are energy efficiency; secure energy supplies; and trade in energy, especially as this related to “the impact on relative competitiveness in the CARICOM Single Market and Economy (CSME) and purchasing and transportation arrangements”.
There is acceptance that though the indigenous, especially renewable, energy potential within the region is great, the resources are unevenly distributed and their development may be stymied by the small size of the markets at the respective national levels. There is acceptance too that the investments required for the “relatively small” energy markets within countries can be enhanced through a holistic approach to energy that strikes the right balance between the needs of energy exporting and energy importing Member States.In essence, increased cooperation on energy within CARICOM can play a vital role in ensuring energy security within the region.
Constructive and forward looking discussion on the rapidly expanding trade and energy interface can promote a more robust planning process at the national and regional levels. It is the deliberate deployment of innovative and climate compatible development strategies in the respective national energy sectors that will provide the basis for attainment of an inclusive, integrated Caribbean Community that is resilient.
The discussions from this forum will help to define the potential role of the Guyana energy sector in regional energy affairs and provides an opportunity to link the regional strategy to the current national pathway that is geared towards setting Guyana on a more sustainable path to energy security. This is hopefully, the beginning of an exercise that facilitates learning and information exchange, shares best practices and enhances opportunities for increasing collaboration towardsconcrete actions and specific implementation activities.
I look forward therefore to a very productive and successful dialogue.