March 23, 2016: Delivering the feature address at the Penal/Debe Chamber of Commerce’s Economic Forum on Tuesday 22nd March, 2016, Senator the Honourable Paula Gopee-Scoon, Minister of Trade and Industry elucidated that ‘what the government is required to do has not changed fundamentally; what matters now is how we do it. Today, there is absolutely no room for waste and inefficiency. As a Government, we are aware of the changes around us, we must utilize 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’.
As part of the Trade Ministry’s strategy to expand market access, the Trade Minister noted that ‘this Government recognizes the importance of local manufacturers and service providers being able to penetrate markets within and outside CARICOM. Quite simply, more exports mean more jobs which as we know, are needed more than ever in these challenging economic circumstances. We intend to focus on markets in Guyana, Suriname and Cuba. With respect to the latter, we plan to operationalize a 10 Million Canadian Dollar 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’.
The Trade Minister outlined the Government’s structural reforms aimed at ‘unlocking the country’s growth and diversification potential’, in the context of the IMF Report; and informed the audience of specific projects in the government’s diversification agenda.
The opening words of Mr. Shiva Roopnarine, President, Penal/Debe Chamber of Commerce were ones that set the reality of the economic situation of businesses in Penal/Debe, outlining a series of projects that they ‘eagerly await’, including the Shiva Boys and Parbatee Girls Colleges, the sporting complex, the fire station, the highway project and the UWI South Campus. Stating that these will‘assist tremendously and support new and existing businesses’. He closed with the words that ‘the course that this government charts now will significantly impact on all future generations’. Noting poignantly that ‘it is my humble opinion that the business community can tackle this current situation, but the directive and guidance must begin with the leadership of the country’.
Speaking as part of the panel were Dr. Bhoendradatt Tewarie, Member of Parliament for Caroni Central and former Minister of Planning and Sustainable Development, and Dr. Roger Hosein, Economist and Lecturer at the University of the West Indies, St Augustine Campus. Following individual presentations, members of the panel fielded questions from the audience. In attendance were over one hundred businessmen and women of the Penal/Debe, Siparia and Point Fortin areas.
For further information please contact:
The Corporate Communications Unit
Ministry of Trade and Industry
868-625-9947