GEISHA KOWLESSAR-ALONZO
Trade Minister Paula Gopee-Scoon says there is an increasing focus on using local inputs into manufacturing as she emphasised that this country is recognised as the hub of manufacturing in the Caribbean.
Gopee-Scoon made the comments yesterday while speaking to members of the media as she toured the Trade and Investment Convention (TIC) which has become a staple in the calender of the T&T Manufacturers'Association (TTMA).
The event was held at the Centre of Excellence in Macoya.
Noting that the TIC focuses on largely on the food and beverage sector the minister explained, "Some of the other components like construction materials are a little bit difficult to show so you are going to see food and beverage. We understand that inputs have been largely imported and the focus is there on building that capacity so we have local input instead."
She said such effort will be significantly shown at the upcoming agri expo to be held next month in Port-of-Spain.
This year’s theme for the TIC is “Global Horizons,” reflecting a shared vision to continue to build a robust and dynamic manufacturing sector that not only meets local demands but also competes internationally, the minister added.
Gopee Scoon said she is also confident the growing size of the TIC augurs well for exports in T&T as she said the increased layout and number of booths underlined the strides being made by the manufacturing sector
"This is the expectation we have with the TTMA, because they've been doing well for the last 25 years and there has been substantial growth in the contribution to our GDP and also to our export levels, particularly to the Caribbean over the last 25 years and now more than ever moving extra regionally. So we're pleased to see what's on offer," she said.
Gopee-Scoon noted that sales at the TIC could easily eclipse the billion dollar target set by the TTMA's President Roger Roach at the opening of the event on Wednesday.
"You're going to have a lot of sales here and I have no doubt that that's a possibility we will reach that kind of number as we expect us to put of more than 30,000 participants in this at this TIC convention," the minister said.
She also noted that more international booths were set up as the TIC signifying growing international interest.
While it is not the first time India has had a booth at the TIC, India’s High Commissioner to the T&T, Pradeep Singh Rajpurohit, said his country is exploring an expansion of trade with T&T.
"We know there is a lot of indirect trade happening with between India and Trinidad and Tobago, but the focus has been now on more direct trade. So our emphasis is now on to understand more local requirements and bringing more companies more investors and manufacturers to Trinidad and Tobago from India," he explained.