Fourteen Trinidad and Tobago manufacturing companies are currently in Paramaribo, Suriname, for the Oil and Gas Summit to offer their goods and services to potential operators in the Energy Sector.
The Trinidad and Tobago Manufacturers’ Association (TTMA), in collaboration with exporTT, is hosting a trade mission to help boost the companies, in order to attract potential operators.
TTMA’s chief executive officer Dr Mahindra Ramdeen is leading the delegation Minister of Trade and Industry Paula Gopee-Scoon in her message to the delegation said it is heartening to see representation from these 14 companies and the diverse range of local products to be showcased.
“Trade Missions from Trinidad and Tobago assist in the country’s diversification thrust and aid in the growth of local exports, foreign exchange earnings and expansion of export markets. This Mission to Suriname represents a tangible example of regional integration at work. It offers the opportunity to improve business ties, increase knowledge of the regulatory environment and strengthen the trade and business relationship, all in the spirit of regionalism,” Gopee-Scoon said.
TTMA president, Tricia Coosal, said building economic relationships with both the public and private sector in Suriname is a step in the right direction as we seek to strengthen trade ties within all Caricom members.
“Trinidad and Tobago is not immune to the economic impact of international events such as Covid-19 and the war in Ukraine. However, by looking inward to Caricom and solidifying our existing trading relationships, as members of Caricom we may be able to mitigate the impact to stabilise, strengthen and grow,” Coosal remarked.
She noted that the key objectives of this trade mission include; building on the successes TTMA had in the recently concluded Trade Mission to Guyana for its members; the sourcing of possible raw materials and finished products for T&T companies; identifying potential export business opportunities within the Suriname market and creating unique synergies for both public and private sector of T&T and Suriname.
“This trade mission, as well as our TIC event at the end of August 2022, are key components of our strategy of finding market opportunities to allow our members to grow their exports in the coming years,” Coosal added.
Meanwhile, Energy Minister Stuart Young participated in the Ministerial Roundtable titled, “A Bright Future Through Energy” at the summit yesterday.
Young opened discussions by referencing a Journal of Petroleum Technology (JPT) article which highlighted an example of some European countries returning to coal this year in order to avoid short term power outage.
He also reiterated Trinidad and Tobago’s position to strike a balance between renewable energy and natural gas in order to ensure energy security in the region.
He noted that collaboration is one of the fundamental principles of Caricom and that the region, in particular Guyana, Suriname and Trinidad and Tobago as countries with significant hydrocarbon resources, would be stronger with greater collaboration in energy matters including, when negotiating for their countries’ benefits.
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