Bahamaren Limited signed a Memorandum of Understanding (MOU) with Beijing Kingpeng International Agriculture Corporation and China Overseas Agricultural Development Alliance, establishing the framework for mutually beneficial cooperation for agricultural development through innovative technologies last Friday.
In a statement released by the company, Bahamaren expressed that the new agreement will foster long-term agricultural sustainability, enhance market discipline and develop sharing of information in The Bahamas and Caribbean.
Present at the signing was Bahamaren’s Managing Director Latrae Rahming, General Manager and Regional Director of Beijing Kingpeng International Agriculture Corporation Mike Wang, Regional Manager of Beijing Kingpeng International Agriculture Corporation Frank John and China Overseas Agricultural Development Alliance Deputy Security-General Lv Hua.
“The major thrust of the MOU is to make the agriculture sector in The Bahamas and the Caribbean more efficient, robust, and affordable, by relying more on technology, innovation and entrepreneurship,” a Bahamaren Limited statement read.
“The MOU will facilitate the introduction of affordable agricultural greenhouse technology and machinery, as well as artificial intelligence in The Bahamas and Caribbean. It aims to assist the signatories in developing affordable turnkey solutions in greenhouse, poultry and dairy farming, as well as husbandry and artificial intelligence (AI) technology.”
Company officials said it recognized issues in food security in The Bahamas and the need for building capacity in local food production systems. The MOU, the company said, will underscore the importance of both a tailored and integrated approach in collaboration with all stakeholders, to reduce the food import bill and enhance food security.
“This MOU underscores the importance of moving from traditional approaches towards a more programmatic and holistic approach to strengthening the agricultural industry to meet our objectives,” according to the statement.
Bahamaren officials said the company believes addressing the barriers to sustainability begins with solving the issue of affordability and that the MOU represents a direct response to cutting the cost and providing affordable solutions.
The company is focused on empowering farmers with a heightened focus on young people to pave ways of opportunities to improve their potential for success in food production from the standpoint of entrepreneurship, innovation and technology adaption.
This article was written by GINELLE LONGLEY, Eyewitness News intern.