In 2008, bilateral trade between T&T and Brazil totalled US$1 billion. With the 2009 downturn in the global economy, the level of trade went down to US$500 million, said George Ramos of the commercial sector, Embassy of Brazil in T&T.
"Brazil is the second largest commercial partner for T&T after the United States," Ramos said. With those kinds of figures, T&T is a very good market for products from Brazil, which is one of the countries which will be represented at the May 19-22 Trade and Investment Convention (TIC), at the Hyatt Regency Trinidad hotel.
"T&T exported more (to Brazil) in 2009 than ever before. It was the best year. You started exporting natural gas, agricultural products–fertilizers. Yara (Trinidad Ltd) exports a lot to Brazil. Right now, you export US$150 million (worth or products) to Brazil," said Ramos in an interview last week Wednesday at the T&T Manufacturers Association (TTMA) offices, Barataria. TTMA is the primary host of TIC. Trade between T&T and Brazil will no doubt be on the agenda when the Brazil/Caricom Summit begins in Brazil on April 26.
First come, first served
Ramos said the embassy rents space at TIC through its Ministry of Foreign Affairs for Brazilian companies to showcase their products on a first come, first served basis. Each year, he said every year, about 30 companies each sends between eight and 10 Brazilian representatives to each year's TIC. "To those who want to come to Trinidad, we offer the space. We don't charge anything. "Companies have displayed furniture, canned foods, electrical materials, household products," Ramos said.
He said there are other products from Brazil that can be imported into T&T–beef and such fruits as grapes and apples. He said Brazil has mangoes, but jokingly said it won't make sense to export them to mango-rich T&T. He said the T&T Government is right to protect some products from entering the local market. Ramos said T&T cannot import raw beef from Brazil. "You import from New Zealand, Australia, the United States–countries that import from Brazil–but you don't import from Brazil because in certain areas of Brazil, there's the incidence of disease.
"But, in certain areas, you don't see that, so you don't import from these regions. So, Brazil is off market," Ramos said. He said the cost of beef in T&T is more expensive than chicken, while beef is the cheapest food you can buy in Brazil. Ramos said these are old habits of the Commonwealth and colonisation, but they will change. "They have to change because it is cheaper and consumers want more for their money. For example, grapes, we produce grapes. Grapes in Trinidad are extremely expensive. There are apples in Brazil and Argentina. "These kinds of products may come to Trinidad. It depends on negotiation at the diplomatic level. That's happening now. Let's see the outcome of it," Ramos said.
