Trade and Industry Minister Stephen Cadiz is calling on local businessmen to explore the new opportunities that await in China's fast growing market following the success of the China-Caribbean Economic Forum held at the Hyatt Regency Trinidad, Port-of-Spain last week. In a Sunday Guardian interview the minister said the forum provided opportunities for foreign direct and investment and technical co-operation in areas such as finance infrastructure, tourism and agriculture. "T&T can benefit from greater co-operation in human resource capability, technology transfers and health care. Several co-operation undertakings already exist in the areas of infrastructure development, human resource development and trade in goods and services which make the T&T/China relationship a very important partnership for our country," he said.
Cadiz said the People's Partnership's quest to expand trade and give T&T a stronger presence in the global market was the impetus for the forum which was co-hosted by the People's Republic of China. On Thursday, Chinese energy company Soogl Antilles Trinidad Ltd, a subsidiary of Sinopec International Petroleum Corporation, held a ceremony at the Hyatt Regency Trinidad, located at Dock Road, Port-of-Spain to commission a well SE-1 in T&T's waters. While the energy sector contributes significantly to the national economy, Cadiz said, the Ministry of Trade and Industry is mandated to diversify the economy in terms of the non-energy, manufacturing and service sectors, as well as, downstream industries from the energy sector.
"Soogl's presence in this country demonstrates the parent company's commitment to go international to meet China's energy demand to fuel its fast growing economy. In the public/private sector partnership of building our economy, the main driver of business development and expansion is the private sector. "However, for business to thrive, it is necessary for government to play a facilitative role in creating an enabling business environment, as well as, promoting opportunities for business," Cadiz said.