Trade Minister Paula Gopee-Scoon has told officials of state agencies under the purview of her ministry that they have to "actively get the private sector on-board to produce new revenue streams in keeping with our diversification agenda."
"We need to move with urgency," she said as she facilitated a series of meetings get assess the current programmes and initiatives of the agencies.
Gopee-Scoon, who met with senior executives of exporTT, invesTT, eTecK and CreativeTT over three days last week, commended them for their current performance.
During the meetings, exporTT Limited's senior management outlined four key strategies for 'creating internationally competitive firms in the non-energy manufacturing and services sectors. These include capacity building through targeted training and standards certification; ensuring the required systems, institutions, agreements and services are in place and functioning efficiently and effectively; market access through researching and exploring new markets and leveraging the Caribbean diaspora; and identifying and strengthening elements which distinguish and increase the competitive edge of T&T products and services in global markets. The importance of placing focus on economic diplomacy was also emphasized.
The executives of invesTT Limited presented details on their achievements, development and diversification initiatives related to lucrative investment opportunities in the 'pipeline', public-private partnerships, diaspora engagement and trade missions. The agency's current strategy involves targeting the top 15 sources of foreign direct investment (FDI) for promoting investment in T&T's targeted sectors.
CreativeTT Limited executives showcased the organisation's key achievements through FashionTT, FilmTT and MusicTT, its subsidiaries. These included the development of a French Caribbean Mission Lookbook, ModeTT, to effectively market T&T's fashion industry in French Caribbean markets; the launch of a strategic plan for the local fashion industry; involvement in recent TT Film Festival and the Secondary School Short Film Festival; and the successful hosting of an advanced songwriting and production camp.
Gopee-Scoon told the CreativeTT executives: "We are committed to the industry. The objectives must be met so that this sector will be a success story."
Acting Permanent Secretary Norris Herbert added: "CreativeTT is a critical component in the diversification agenda and we must ensure that this importance is always quantified so that the profitability of the sector is recognised."
eTeck's senior management presented a background on the history of the organisation, its plans to improve the current infrastructure and operations of existing economic zones/industrial parks; optimize existing industrial parks on a commercial basis and develop new modern economic zones.
Officials also took the opportunity to highlight the agency's 2014/15 achievements, namely the opening of the Tamana Intech Park Flagship Office and its proposed development works and initiatives.
Each agency will return for more detailed discussions on their plans and programmes, after the appointment of the various boards.