Rambachan also hopes local business people will be able to find “lucrative opportunities in Switzerland.”
Rambachan and the Ambassador of Switzerland in Port-of-Spain, Markus-Alexander Antoniette, signed the agreement.
The deal expands on the existing arrangements that allow Trinidad and Tobago to export to Switzerland mechanical instruments for machinery and measurements, crude petroleum, raw cocoa beans and copper. Imports from Switzerland include pharmaceuticals, vehicle parts, machinery, watches and clocks.
“There is much scope for the further development of co-operation and investment between the two countries in light of T&T’s active European agenda,” Rambachan said, adding that the country is moving to “intensify economic co-operation to the mutual benefit of both countries.”
Rambachan said he expects the agreement will "create a favourable environment for investments by, not only promoting, but protecting investments with the aim of fostering economic prosperity in both states.”
He assured the Ambassador that businesses would not have to worry about repatriation of profits since Trinidad and Tobago has no restrictions on foreign exchange.
Rambachan said it took 24 years for the agreement with Switzerland to be signed and Government plans to take advantage of the Swiss expertise in attracting foreign direct investment to Trinidad and Tobago.
The minister described the diplomat as "the kind of ambassador that wants to get things done and who wants to improve the bilateral relations.”
The Ambassador said the agreement underlines the commitment of Switzerland and Trinidad and Tobago to stimulate bilateral relations, adding that Switzerland is prepared to do business and create “new opportunities” for the strengthening of relations between the two states.
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