By JEFAY SIMMONS

Tribune Reporter

jsimmons@tribunemedia.net

The Prime Minister says agriculture holds “vast untapped potential” with The Bahamas’ annual $1bn food import presenting “million dollar opportunities” for local farmers to exploit.

Speaking at the Ministry of Agriculture and Marine Resources’ first Agri-business Expo for five years, Philip Davis KC said: “It is no secret that there is vast untapped potential in our agricultural sector. Egg production and poultry farming alone represent million dollar opportunities that local farmers are keen to take advantage of.

“We all recognise the economic advantages of developing agriculture. Passionate Bahamians have evangelised for years about the need to feed ourselves and the many ways we will benefit.”

Mr Davis asserted that more Bahamians are becoming interested in farming as they realise the financial and health benefits from producing food locally and reducing this nation’s import bill and outflows of foreign exchange earnings.

He said: “The agriculture and fisheries sectors are on the rise, as more Bahamians tap into the business potential of these emerging industries. Several years ago, with the exception of a few pioneering Bahamians, there was far too little focus placed on food production as a pathway to entrepreneurial success. But now, many Bahamians are seeing the vast potential.

“We can lower the food import bill, keeping more money in the country. We can bring more money into the economy through exports. We can lower the cost of food products at the grocery store. And we can provide expanded access to healthy, fresh produce and animal products grown right here in The Bahamas to promote healthier diets.”

The Prime Minister added that the Davis administration is “100 percent locked in” to growing The Bahamas’ fisheries and agricultural sectors, and there is “no single stakeholder better positioned to facilitate advancement in agriculture than the Government”.

“The Bahamas is home to mangrove systems that act as fish spawning grounds for the entire region,” Mr Davis said. “The word ‘sea’ is literally a part of our country’s name. There is no reason why the ‘islands of shallow seas’ cannot dominate the regional market through effective management of our natural marine resources and cultivation of new businesses within the industry.

“This government is 100 percent locked in on the potential to grow agriculture and fisheries into central pillars of our economy. There is no single stakeholder better positioned to facilitate advancement in agriculture than the Government. And we will do our part.

“But the ones who will actually plant the seeds, hatch the eggs, harvest the vegetables and reel in the fish are the local farmers and fishers. The people are the ones who will develop this industry through enterprise, expertise and innovation.”