Trinidad and Tobago host Business Forum in Shanghai
Invest Trinidad and Tobago Limited, in collaboration with the China Council for the Promotion of International Trade (CCPIT), hosted the second Business Forum in Shanghai, the People’s Republic of China at the Portman Ritz Carlton Hotel. The Forum intended to promote the investment opportunities and sectors in Trinidad and Tobago to potential Chinese investors, attracted some 120 persons.
In his Address to the potential investors, Trade, Industry and Investment Minister Vasant Bharath affirmed that the State Visit illustrated the high degree of importance the Government of Trinidad and Tobago places on its commercial relations with the world’s largest exporter and its belief that the future economic progress of the country lies in part in deepening its economic linkages with China. He said that ‘we have noted with great interest that in 2013, China invested approximately US$20 Billion in Latin America and the Caribbean and are hopeful that our country can be a recipient of a larger portion of these flows’. The Trade Minister called on investors to aggressively pursue investment opportunities in Trinidad and Tobago, saying that ‘Chinese companies are outbound and seemingly on a mission. China’s outbound direct investment increased by 16.8% to $90.17billion last year‘.
Creating the enabling environment for doing business and capitalizing on investment opportunities in Trinidad and Tobago is of top priority for the Government. The Trade Minister highlighted the Financial Services Sector as a key sector for investment, noting that Trinidad and Tobago is seeking to develop an International Financial Centre especially since the country is recognized as the financial capital of the Caribbean Region. He said that ‘we are specially seeking to develop a Financial Institution Support Services Industry (FINeSS) and currently provide a range of attractive fiscal incentives to encourage this type of economic activity’.
In delivering Brief Remarks Mrs. Kamla Persad-Bissessar, Prime Minister of Trinidad and Tobago identified the seven business clusters for diversification namely; Maritime; Downstream Energy; Food Sustainability; Creative Industries (film, fashion, music) Tourism; Sports and Financial Services and urged the investors to ‘come to Trinidad and Tobago to do business‘.
Also delivering Remarks were Mrs. Racquel Moses, President invesTT and Mr. Cen Furong, Chairman of CCPIT Shanghai Sub-Council. On Friday 28 February, 2014 Bharath will lead a Trinidad and Tobago Business delegation to Guangzhou to host the third and final Business Forum, with an expected 100 plus potential business investors.