Amid the growing concern about foreign exchange constraints in the country, the Trinidad and Tobago Manufacturers' Association (TTMA) is hoping the ongoing trade mission to Dominica will help the situation.
TTMA Chief Executive Officer Mahindra Ramdeen said he hopes the four-day mission would be beneficial in particular for emerging businesses as the association views Dominica as a distinctive opportunity for both T&T and the Dominican economy.
"The prime objective is to grow the exports into Dominica and so earn foreign exchange for themselves and be able to build a mutual relationship with current trading partners," said Ramdeen, "As I said, these SMEs, Premier Label, Avaire (Aviaire Body Products), Half Moon (Halfmoon Vegan Ice Cream), which is a winner of our Manufacturer of the Year small category, they are all participating in the trade mission and we look forward to significant benefits and opportunities to be created, not just for thelocal manufacturers, but for the participants from the Dominican side, where, as I said, there are many synergistic advantages that could be had from forging these relationships."
T&T's delegation to Dominica, which is spearheaded by Trade Minister Paula Gopee-Scoon, consists of 29 participants, including 19 companies across the food and beverage, construction, printing and packing, chemical and household, construction and services sectors
Among the participating companies are Advanced Commercial Equipment Limited, Angostura Holdings Ltd, Aviaire Body Products, Blue Waters, BriCha, Cargo Consolidators Agency, DSB Marketing, Electrical Industries Group, Half Moon Vegan Ice Cream, Kennedy Agro Processing, New Wave Marketing Limited, Novo Farms, Pepe’s Marketing and Premier Label Company.
On Monday, Ramdeen said the group was shown a presentation by Dominica's Minister of Trade, Foreign Affairs and Energy Vince Henderson, following which Minister Gopee-Scoon spoke of the mutual benefits of the mission.
During the four-day mission, Minister Gopee-Scoon will meet with the Ministry of Foreign Affairs, International Business, Trade and Energy, the Ministry of Agriculture, Fisheries, Blue and Green Economy, the Dominica Association of Industry and Commerce, and the Dominica Manufacturers Association.
Dominica is Trinidad and Tobago’s eighth largest export market and 10th largest source of imports in CARICOM. Overall, it is the 35th largest export market and 88th import market amongst all of the country’s trading partners.
The initiative is part of Trinidad and Tobago’s Export Booster Initiative or EBI, a strategic effort designed to increase the value of the country’s non-energy exports over the next three years.