Coosal tells UWI graduates: Classify countries by knowledge

COOSAL Group of Companies executive chairman Sieunarine Persad Coosal has said countries must be defined by the knowledge they create, for the benefit of their respective populations and/or the world at large.

Coosal challenged UWI graduates across the Caribbean to play their part to ensure the region secures its place in the emerging global knowledge economy.

He was addressed a UWI virtual graduation ceremony for some students of the university's Social Sciences Faculties on Friday, after receiving an honorary doctorate of laws.

Coosal said graduates were emerging into the fourth industrial revolution, where knowledge will be the main fuel. He said knowledge must be coupled with creative, innovative and entrepreneurial minds

"It is not the birthright of those in the developed nations. What this means is that a small country (such) as TT or the region (of) the Caribbean can become a sustainable global economic powerhouse."

In this emerging new world order, Coosal opined, "The way that we have been taught to classify countries is as rich and poor, developed and developing. Those with emerging economies need to be redefined."

He said mindsets need to be changed to move forward and countries should be classified based on the knowledge economy. This classification should include countries that use knowledge, innovation and entrepreneurship to create sustainable wealth for their people; countries that use knowledge, creativity and innovation to create sustainable wealth for the benefit of all (or disruptive innovation) and countries that neither create new knowledge nor use knowledge to create wealth.

Coosal told graduates, "Your minds are fertile. Our older folks' brains are becoming calcified."

He challenged them to ask regional policymakers and decision-makers where Trinidad and Tobago and the Caribbean are in this emerging new world order.

He hoped graduates would begin this conversation about the future that will "light the spark and set the fire glowing."

Coosal said for a strong TT and wider Caribbean, all sectors would come together and work towards a common objective.

"We cannot afford and must not always to play the catch-up game. Our policymakers and decision-makers in government, as well as the private sector and civil society, will be constantly turning to the educational sector. Your knowledge, research and innovation and your skill set to ensure that this country and the region and the world remain sustainable."

UWI Chancellor Robert Bermudez asked graduates to thank their families, friends and other people who helped to make their journey with them.

"They have watched you burn the midnight oil and supported you through assignments and exams. For many of you, this is a collective achievement."

Bermudez said graduates can best express their gratitude to their most ardent supporters by doing their best at all times. He added that the graduates represent "so much promise for the advancement of our societies and economies."

While covid19 changed a lot of the ways that UWI operated, Bermudez said it in no way diminished the significance of graduates' achievements.

"Despite the changes that have taken place and will continue to take place, whatever you do in the future must be impactful."

Valedictorian Weston Maharaj agreed with the views expressed by Coosal and Bermudez.

As he praised his fellow graduates on their success, Maharaj reminded them to remember the challenges they endured during their journey, as well as their resilience and determination to succeed.