Trade Minister Paula Gopee-Scoon has told members of the Penal/Debe Chamber of Commerce that structural reforms currently being undertaken by Government are intended to unlock T&T’s growth and diversification potential.
In her contribution to an Economic Forum hosted by the group on Tuesday, the minister emphasised that “there is absolutely no room for waste and inefficiency.”
She added: “As a Government, we are aware of the changes around us, we must utilise our resources effectively, work within strict timelines, ensure value for money, and most importantly, ensure that the population understands clearly what we are doing and how it affects them.”
Gopee-Scoon said the Trade Ministry’s strategy is to expand market access within and outside Caricom.
“We intend to focus on markets in Guyana, Suriname and Cuba,” she said. “With respect to the latter, we plan to operationalise a Can$10 million line of credit which will encourage local manufacturers to export more to Cuba by overcoming credit risks.
“Only this week we were witness to the visit of a US President to Cuba in almost 90 years—a powerful symbol which marks the beginning of a new era and the importance of the Cuban economy in the Americas. This will result in significant business and investment opportunities in the future, and we are well positioned to take advantage of them.”
In remarks at the start of the forum, Chamber president Shiva Roopnarine said while the business community can tackle the current economic situation facing T&T, “the directive and guidance must begin with the leadership of the country.”
The panel for the forum comprised former Planning Minister Dr Bhoendradatt Tewarie, the MP for Caroni Central, and Dr Roger Hosein, economist and lecturer at the University of the West Indies, St Augustine.