Ministers, Energy chamber makes sales pitch for T&T in London

Trinidad and Tobago made a pitch in London Thursday to market the country to Commonwealth business executives.

The presentation was made to the corporate leaders by Government Ministers Stephen Cadiz and Dr. Suruj Rambachan and CEO of the Energy Chamber Dr. Thackwray Driver.

They noted that English-speaking Trinidad and Tobago is out of the hurricane belt and is midday between New York and Argentina, has wide access to markets, an educated labour force, political and economic stability, a friendly investor environment and a highly developed industrial sector.

They added that the country's petroleum sector is the second oldest in the world. With regards to communications they said the country has direct international flights, broadband connectivity, modern infrastructure, a single electronic window.

In addition they pointed out T&T competitive corporate tax structure and legislation governing intellectual property.

They also spoke about the independent judicial system, the open currency market, legislation that allows 100 per cent ownership, membership in and signatory to ILO conventions and the availability of first class housing stock.

The trio said other business-friendly attributes include relatively cheap electricity rates and excellent health and safety standards.

Minister Cadiz stressed on the emerging Tamana Park, the country’s adherence to environmental standards, the several trade agreements to which it is a signatory, and the general ease of doing business.

“We are open for business,” he said. “There are huge opportunities in Trinidad and Tobago.”

Dr. Driver told of the successes of energy-based industries, including the Point Lisas Industrial Estate and Atlantic LNG. He urged the Commonwealth executives to consider investments utilising natural gas as a feedstock.

Participants at the conference asked about the telecommunications, the framework of gas utilisation and relevant policy matters.

In interviews after the session, executives expressed satisfaction with the presentations.

Minister Cadiz and Rambachan and Dr. Driver expressed confidence in their message and said they expect it to bear fruits.

The Trade and Industry Ministry, in association with the T&T High Commission in London, put on a display of sample T&T-made items in the run-up to the activity.

The “Buy T&T” segment was part of the Commonwealth Economic Partnership Conference put on by the Commonwealth Business Council (CBC), an official of the 54-member nation group.

The conference was opened by Prime Minister Kamla Persad-Bissessar, who urged increased trade among the nations.

CBC’s Secretary General Dr. Mohan Kaul has proposed a similar conference in Port of Spain next year, at no cost to T&T’s taxpayers.

-Ken Ali reporting from London