Minister of Trade, Investment and Tourism Satyakama Maharaj said Trinidad and Tobago is working to build the local marine sector.
Speaking to an audience of finance executives at the 16th Annual International Finance and Accounting Conference on Thursday, he said that 70% of exports from Trinidad and Tobago are energy-related.
Minister Maharaj highlighted one of the ways in which the local export sector is being diversified.
“The yachts coming in. Those yachties used to face 20 major obstacles and going to Antigua and stuff instead. We have sat down and worked with them. I am happy to report that 12 of those 20 impediments have now been resolved, so we are building a viable yachting industry in this country. We are building a viable marine sector.”
The Trade Minister said the government is working to partner with the local private sector.
“At the Ministry of Trade, Investment and Tourism, we have set a target of increasing non-energy exports to 50% within the next five years. That is local business development and diversification of the economy, and it has to be done with your guidance.”
Meanwhile, the President of the Institute of Chartered Accountants of the Caribbean, Marissa Quashie, said her organisation is also partnering with other sectors to transform the local financial sector.
“On November 12th we formalised a strategic partnership with the Arthur Lok Jack Global School of Business to launch the Lok Jack GSB ICATT Tax Academy, which will commence January 2026. This programme is purposefully designed to build national capacity, elevate professional standards and strengthen technical expertise in taxation across Trinidad and Tobago.”
The theme for the 16th Annual International Finance and Accounting Conference is ‘Future Driven: Innovation, Transformation, and Resilience.’