HOME \ FIEO NEWS \ FIEO NEWS - Vol.XXIX.No.2 - February 2009
2nd Trade and Investment Mission to Trinidad & Tobago
2nd Trade and Investment Mission to Trinidad & Tobago | FIEO organized a Seminar on 9 January at Bangalore to apprise exporters of the forthcoming 2nd Trade and Investment Mission to Trinidad & Tobago during June 22-27. The mission aims to promote bilateral trade and investment and foster greater people-to-people contact between India and the twin islands in the Caribbean. The mission will also be participating in Trade and Investment Convention (TIC) scheduled to be held from 24 to 27 June at Macoya in Trinidad. Addressing the participants, High Commissioner of Trinidad & Tobago to India, Mr. Pundit Maniedeo Persad said Hindi is the 2nd most spoken language in T&T and this makes Indian investors more acceptable in the islands than their counterparts from other countries. He referred to the investments worth 1.8 billion USD made by ESSAR Steel and setting up of offices | H.E. Mr Pundit Maniedeo Persad, High Commissioner for Trinidad & Tobago addressing the gathering. On the dais from left Mr. T V Maruthi, Immediate Past Chairman, Indian Silk EPC; and Mr. V Srinivasan, Jt. Director, FIEO. |
by Bank of Baroda recently in T&T. Steel Tycoon Lakshmi N Mittal established a steel plant, a first-of-its-kind in the country, long ago in 1970, he said. The High Commissioner sought Indian investments in agriculture sector and told the participants that one could buy land up to 5 acres in T&T by making just a phone call. Commenting on the TIC, Mr. Persad said it is Caribbean’s biggest B2B event attended by local, regional and international buyers and distributors. "TIC will provide Indian exhibitors an opportunity to showcase their products to buyers from Caribbean and Latin American countries," he said. Mr. T. V. Maruthi, Immediate past Chairman of Indian Silk Export Promotion Council in his address allayed fears of global financial meltdown saying India, along with China, Russia and South Korea, would emerge stronger from the global financial crisis as they enjoy strong economic foundations, higher growth rates and sound monetary policy.FIEO Joint Director Mr. V. Srinivasan informed the participants that 12-member team of FIEO joined the first ever trade mission to T&T organized by High Commission of Trinidad and Tobago in June 2008. FIEO delegates found the twin islands rich in plantation of mango, cocoa, coffee, apple and some vegetables and felt that there was preference for Indian products in the islands as almost 40% of the total population of T&T comprised of people of Indian origin. "In T&T, there is a good demand of Indian textile, leather items and pharmaceutical products in manufacturing sector and IT, hospitality industries and healthcare in services sector," he said.Trade and Investment Convention is held every year at Centre of Excellence at Macoya in Trinidad. TIC is open to general public on the last day so that exhibitors could see the response of end consumers to their products. FIEO official invited exporters to participate in TIC.Exporters dealing in software products and consultancy services, silk and silk products, pharmaceuticals, medicare products, ayurvedic and herbal medicines, textiles, apparels, bio-lab health tourism, hospitality industries, herbal formulations, spice oils, herbal extracts, electronic products, etc have shown interest in participating in TIC. India’s main exports to T&T include iron and steel, pharmaceutical products, organic chemicals, articles of apparel & clothing while its imports include mineral fuels & oils, bituminous substances, mineral waxes, plastic & articles and wood pulp. |  | A view of the participants. |
India’s export to Trinidad and Tobago during the year 2007-08 valued at US$ 136.02 million against US$ 107.99 million in the previous year. T&T’s export to India during the year 2007-08 was worth US$ 174.28 million against US$50.82 million in the previous year.back
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