Minister of Trade, Investment and Tourism Satyakama Maharaj said this year’s Trade and Investment Convention showcases the growing strength of Trinidad and Tobago’s manufacturing sector.
He added that local companies are raising their standards and using technology and innovation to stay competitive in an evolving global economy.
The Minister maintained that manufacturers should receive greater priority when it comes to accessing foreign exchange, arguing that supporting local production creates more value for the economy than imports.
“I am going to encourage the commercial banks to also give local manufacturers access, preferential access, to Forex over importers because the manufacturers create economic value far more than importing.”
Minister Maharaj also pointed to increasing participation in overseas trade missions as a sign that more local businesses are pursuing export opportunities and expanding into new markets.
“The last trade mission to Guyana and Suriname had 64 people. They used to struggle to get 20 before. Now they’re flooding it. They went to India with a group of people. Business confidence is growing and I think it speaks very well for our non-oil manufacturing sector in the country.”
He said the strong response from manufacturers and growing interest in international markets reflect rising confidence in Trinidad and Tobago’s non-energy sector and its potential for continued export-led growth.