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Trinidad and Tobago: Export goods to the EU

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Friday, 15 January 2016

Trinidad and Tobago: Export goods to the EU

Trade and Industry Minister Paula Gopee- Scoon on Tuesday called upon local businesses to increase exports to the EU as a means of addressing the revenue shortfall caused by depressed oil and gas prices. “We look forward to all of you contributing to the revenues of Trinidad and Tobago,” the Minister told representatives of companies gathered at the Courtyard Marriot, Wrightson Road, Port-of-Spain, where the Exportt company launched an export stimulation project.  “It’s your success and the country’s success as well.” The Minister said the private sector has a key role to play in the economy.  “The role of the private sector is crucial in the development of any economy,” Gopee-Scoon said. “However, it is up to you to make it work. Trinidad and Tobago’s products are unique in many ways, and I am confident they can find a home in the European market.” The Minister noted while exports to the EU totaled $79 billion between 2008 a 2015 ($6 billion in the first three quarters of 2015), the bulk of this trade surplus related to petrochemical products. Over the same period, there has been a trade deficit in non-energy products. “Given the current state of the economy, it is crucial that our country diversify, and expand our revenue base,” the Minister said.  The project launched on Tuesday aims to facilitate exports to French, UK and Dutch markets. Participating companies included: Chief Brand Products, KC Confectionary, Flavour Me Rite (Tobago), National Canners Limited, National Flour Mills, NV Marketing, SM Jaleel & Company Limited, Smart Foods Caribbean Limited (Tobago), The Herbarium Limited, Trinidad Chocolate Factory, Trinidad Aggregate Products Limited.

Source: Trinidad and Tobago Newsday