Trade Minister Vasant Bharath used the opportunity in remarks at the closing ceremony of the 2014 AFI Global Policy Forum (GPF) on Thursday at the Hyatt Regency Hotel, Port-of-Spain, to promote the Government's diversification agenda.He said measures in the 2014/15 budget seek to build on the strong leadership position T&T has achieved in the region's financial services sector.
"That leadership is underscored when we note that the services sector's contribution to GDP rose from approximately $12.3 billion in 2011 to an estimated $13.1 billion in 2012," Bharath said."In fact, today, the financial services sector accounts for 15 per cent of our Gross Domestic Product. The financial services sector has been identified by the Government as one of the key areas for economic diversification."
The minister also noted that the GPF was held in T&T just as the Central Bank was celebrating its 50th anniversary. He said it was "a good time to reflect on the history that created us and the philosophy that will shape our destiny in the years to come."
Also addressing the closing ceremony were Daniel Schydlowsky, superintendent, SBS Peru, and incoming chair of the AFI Steering Committee, who expressed his absolute pleasure with his stay in T&T and Alfred Hannig, executive director, Alliance for Financial Inclusion (AFI).
It was the first time the annual GPF was hosted in the Caribbean. The event is the AFI's flagship event, bringing together financial sector policymakers and regulators from developing and emerging countries with external stakeholders from standard setting bodies, private sector, development community, and academia, to discuss collaborative ways to advance the financial inclusion agenda globally.