Seminar on Trade and Investment Opportunities in Trinidad & Tobago
 |
FIEO organized a Seminar on ‘Trade and Investment Opportunities in Trinidad & Tobago’ on 27 March at Niryat Bhawan. The Seminar began with a presentation on trading environment in Trinidad & Tobago made by Ms. Urvashi Ramnarine, Charge d’Affaires, High Commission of T & T in India, She said the economy of T & T was based on energy and tourism and the twin islands were global leader in methanol and ammonia. She identified healthcare, education, vocational training and food processing as some of the sectors in these islands, which Indian exporters could target. Talking |
|
Ms Urvashi Ramnarine, Charge d’ Affaires, High Commission of Trinidad & Tobago addressing the gathering. On the dais, from left: Mr Ajay Sahai, Director General, FIEO; Mr Subhash Mittal, Convenor, FIEO Committee on IT & EP; and Ms Kankana Dubey Chhotry, Senior Trade Officer, High Commission of Trinidad & Tobago. |
about infrastructure in these islands, she said, the twin islands had fully mechanized ports and had well connected international airport.
Replying to a query on the scope of supply of telecom instrument and networking in Trinidad & Tobago, Ms. Ramnarine said, the telecom sector was put in place in the two islands three and a half years ago and three major telecom companies were already operating though were under the control of the government. On the scope of diesel power generators, she was of the view that since Trinidad & Tobago did not have much power problems, the scope for these products was very very limited and confined to only some rural areas. On the scope of food processing industry, she said Indian exporters could target this area. When enquired from her about concessions on plants and machinery, she said it would depend on the nature of the venture.
She invited Indian business-persons to join Trade and Investment Mission being jointly organized by FIEO and the High Commission of Trinidad & Tobago from June 2 to 7, 2008.
Earlier, while welcoming the participants, Mr. Subhash Mittal, Convenor, Committee on IT & EP, FIEO, highlighted some of the business friendly policies of Trinidad & Tobago like no foreign exchange control, commitment to free market policies, strategic access to regional markets through Free Trade Agreements, investor friendly environment and incentives, high rate of FDI, fifteen years of consecutive positive growth etc. He added that the twin islands were poised to become the commercial and financial hub of Caribbean and a gateway to Latin America.
|
"Trinidad & Tobago’s economy is based on the energy sector and the government is aggressively looking for diversifying the economy into manufacturing and services. Some of the areas for investment and business development identified by the Government of Trinidad & Tobago are yachting, fishery, marine products, music, entertainment, film, printing, packaging, food & beverage." Mr. Mittal added. Mr. Ajay Sahai informed that foreign companies could invest upto 100% in private sector while upto 30% could |
|
|
A view of the participants. |
be invested in public sector companies in T & T. He identified handicrafts, garments and medicine as focus areas for Indian exporters. He further informed that a Preferential Trade Agreement with Mercosur was being negotiated which would provide a cushion to Indian exporters.
