The Trinidad and Tobago Government has taken another step forward in its efforts to diversify the energy-rich economy away from oil and gas.
It comes out of a three-day discussion from January 25 -27 between government officials and their counterparts from Panama on a partial scope trade agreement with the Central American country.
Ambassador Mervin Assam, who spearheaded the discussions along with Foreign Affairs Minister Dr. Surujrattan Rambachan, explained that "the Partial Scope is merely a text outlining the relationship between the two countries and the areas in which they are going to do the trade and the tariffs if any, that will be applied to these goods that are entering each others countries."
Assam will lead a delegation along to Panama on March 28 to continue the dialogue in the interest of easing trade barriers on both sides for a limited amount of products and services.
The Trinidad and Tobago Government is seeking to boost trade in the tourism, agriculture, sports and entertainment sectors, along with offering services in the Information and Communication Technology Industry, medical, education and construction services.
Assam noted that these are lucrative industries in developed countries. He believes Trinidad and Tobago should maximise its time developing those sectors as an alternative to the energy industry.
Reaching common ground on this negotiating table is important to Trinidad and Tobago since it would clear the way for negotiating a full trade agreement with Central America and or CARICOM.
The Ministry of Trade and Industry collaborated with the Ministry of Foreign Affairs, on this initiative, which Assam said is to help Trinidad and Tobago fulfill its new thrust of growing the non-energy sector.
"We are mandated to engage in the development of the non energy sector. And the non energy sector will included services which is going to be an important component in this diversification process," he said.
It comes out of a three-day discussion from January 25 -27 between government officials and their counterparts from Panama on a partial scope trade agreement with the Central American country.
Ambassador Mervin Assam, who spearheaded the discussions along with Foreign Affairs Minister Dr. Surujrattan Rambachan, explained that "the Partial Scope is merely a text outlining the relationship between the two countries and the areas in which they are going to do the trade and the tariffs if any, that will be applied to these goods that are entering each others countries."
Assam will lead a delegation along to Panama on March 28 to continue the dialogue in the interest of easing trade barriers on both sides for a limited amount of products and services.
The Trinidad and Tobago Government is seeking to boost trade in the tourism, agriculture, sports and entertainment sectors, along with offering services in the Information and Communication Technology Industry, medical, education and construction services.
Assam noted that these are lucrative industries in developed countries. He believes Trinidad and Tobago should maximise its time developing those sectors as an alternative to the energy industry.
Reaching common ground on this negotiating table is important to Trinidad and Tobago since it would clear the way for negotiating a full trade agreement with Central America and or CARICOM.
The Ministry of Trade and Industry collaborated with the Ministry of Foreign Affairs, on this initiative, which Assam said is to help Trinidad and Tobago fulfill its new thrust of growing the non-energy sector.
"We are mandated to engage in the development of the non energy sector. And the non energy sector will included services which is going to be an important component in this diversification process," he said.
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