Last update: 06-Dec-2013 8:12 am
Friday, December 06, 2013
Trinidad & Tobago Guardian Online
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Opportunities for T&T in Panama trade deal
T&T should take advantage of opportunities arising from the signing of a partial scope agreement with Panama, President of the American Chamber of Commerce of T&T (Amcham TT) Hugh Howard said yesterday. “What it does, it frees up a lot of goods in terms of duties and so forth. You can export duty free. It’s a two-way situation it’s not a concessionary thing, it’s a bilateral arrangement which is reciprocal,” said
The agreement, which was certified by the Caricom Secretariat earlier this year, will promote expansion of trade in goods between both countries. It allows preferential rates for 230 products from T&T in the Panamanian market and some 248 Panamanian products in this country. Some of the local products which have been granted access to the Panama market include chewing gum, peanut butter, doors and windows, building blocks, bitumen and aerated water.
Prime Minister Kamla Persad-Bissessar along with Foreign Affairs Minister Winston Dookeran and members of the business community including Howard, are in Panama attending the Americas Competitiveness Forum (ACF). The theme of the conference is “Infrastructure and Technology Shaping Countries Today.”
Howard said the conference “is based on the whole question of competitiveness in the Americas, what we look at is how best we, as Latin America and the Caribbean can make ourselves attractive for trade and investment internationally, as well as within our domestic borders.” T&T will host the ACF next year.
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