Trade and Investment opportunities in Trinidad and Tobago

Few Indian companies have entered Trinidad and Tobago and are exploring the huge untapped markets

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Jyotsna Arora | 14 Mar, 2008
Indian companies are now fast realising that Trinidad and Tobago has a lot to offer. They are seeing that the region provides investors and entrepreneurs opportunities and connections for increasing and diversifying their markets via expansion of non energy sectors. This was stated by Ms. Urvashi Ramnarine, High commission of Trinidad and Tobago in a seminar 'India and Latin America and caribbean: Great Opportunities for Trade and Investments' organized by jointly by CII and Ministry of External Affairs in the capital on Thursday.

"Seeing the potential and scope in Trinidad and Tobago, a few Indian companies have already entered the region and are engaging in trade with us. Among them are Bank of Baroda, the Mittal group, Asian Paints, New India Assurance and Essar group," said Ms. Ramnarine.

The miniscule island, with a population of 1.3 million whose economy is based on petroleum, natural gas reserves and mining has emerged as one of the major players in multi trading system with 40% of its population of Indian origin. Trinidad and Tobago provides investors and entrepreneurs opportunities and connections for increasing and diversifying their markets via expansion of non energy sectors.

Trinidad and Tobago stands fifth among global leaders in export of Methanol and Tenth in export of LNG to USA. The region enjoys low raw material cost, good infrastructure, competitive operating cost and a reliable energy supply which is all the more reason why people should trade with it.

The region has an export basket of US$ 500.2 million and imports worth US$ 268.3 million. Trinidad and Tobago offers enterprising avenues for business persons in terms of high returns on investment. The major targetted industries are Information and communication technology, Downstream energy industries, Food and beverage, Printing and packaging, Merchant machine, Fish and fish processing.