Trade and Industry Minister Paula Gopee-Scoon yesterday officially commenced a trade mission from this country to Jamaica by delivering remarks at the “Doing Business in Jamaica Seminar”.
In addressing the audience, Gopee-Scoon said, “This trade mission aims to provide T&T’s exporters with networking opportunities, a chance to share market information, and the opportunity to meet with potential buyers and agents.”
“Under the broader ambit, this visit also re-enforces the principles underlying the Revised Treaty of Chaguaramas which promotes regional production of goods and services, especially with a view of maximising foreign exchange earnings on the basis of international competitiveness, attaining food security, and improving the standard of living for our people,” a release posted on the Trade Ministry’s Facebook page stated yesterday.
Gopee-Scoon underscored that Jamaica and T&T are committed to ensuring seamless trade opportunities for our business community and as such, entered into a Memorandum of Understanding on August 29 which seeks to resolve trade complaints between our countries in a timely manner and to facilitate closer trade cooperation between the countries and for the resolution of trade issues.
Gopee-Scoon is currently leading a delegation of businessmen on a trade mission to Jamaica that is expected to end on Thursday.
The goal of the trade mission is “to enable better business opportunities and deepen strategic business and logistical relationships between manufacturers and buyers.”
The mission is a key project under the export booster initiative, which is a strategic initiative of the Government geared towards increasing the value of all non-energy exports over the next three years.
The release noted Jamaica is a significant trading partner with T&T, ranking among its top 50 import sources and top 15 export destinations for the last five years.
From 2017 to 2021 T&T maintained a favourable trade balance with Jamaica with the main exports being aerated beverages (soft drinks), pre-cooked/packaged cereals, chocolates and cigarettes, plastic insulated copper conductors, and sweet biscuits.
The main imports include iron/ steel, soya bean oil, condensed milk, and glass fragments, the release added.
The mission, organised by the T&T Manufacturing Association, exporTT, and the National Export Facilitation Organisation of T&T comprises 17 companies from the chemicals, printing and packaging, food and beverage, and construction sectors including Infinite Wood Working, Bricha Ltd, Albrosco Ltd, VF Packaging Ltd, Caribbean Health Foods Ltd, Chem Clean Ltd, Micro Milling Ltd, Nio Digital, Rojan Marketing Ltd and Angostura among others.