A local company aspiring to become Dominica’s leading agricultural exporter has the backing of the Roosevelt Skerrit led administration.
Prime Minister Skerrit announced in his annual budget presentation on Tuesday that the government has agreed to provide DAPEX – the Dominica Agriculture Producers and Exporters Company – with funding in the form of interest free loans that’ll allow it to purchase produce from local farmers.
DAPEX is reported to have been experiencing cash flow challenges.
Prime Minister Skerrit told Parliament that that problem was adversely affecting the company’s capacity to purchase commodities from farmers, constraining its capacity to take advantage of export opportunities.
“In response to this, Government and DAPEX have entered into an agreement under which Government will provide interest free loans to DAPEX in order to allow the company to purchase produce from the farming community,” PM Skerrit confirmed.
He said these loans will allow DAPEX to make payments to farmers in a timely manner.
According to the prime minister, Government is hopeful that this will give farmers the confidence to increase production to the levels required by the markets.
The agreement is expected to stay in effect for one year and will be “revisited at the end of that period”.
But the same speed that Government is assisting they are now going to open an export office in the next fiscal year. I dont believe that DAPEX going anywhere with this from government. It is only going to stiffle the company further.
THIS GOOD NEWS
Anyways DAPEX, right now there is a drought in the US and so many usual importers of american produce in the Caribbean may not be possible, we need to start pushing hard to get our produce in these markets: USVI, St. Kitts, Puerto Rico, Bahamas, Barbados etc…
great move by the government. That was long awaiting. These are the type of investments that will ensure that Dominicas economy can be sustained. export oriented industries are the key to a countries development and balancing the trade deficit. However , these moves helps to generate employment. The government now needs to invest in shipping vessels that will provide cheap and affordable transportation to our markets.
Sounds like good news,hope our farmer take full advantage.An mr pm hope it is not only talk..