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These are truly exciting times for Trinidad and Tobago (T&T)! Here at the start of the new millennium, our small twin island nation has evolved significantly, from a far outpost of the British colonial empire, into a regional economic powerhouse.
Apart from having the most dynamic economy in the English-speaking Caribbean, T&T has emerged as one of the major players in the multilateral trading system. With one of the highest rates of FDI in the region, our nation has experienced fourteen years of solid economic growth and this impressive performance is expected to continue in 2007, which is forecasted to show a GDP growth rate of 10.2%.
Definitely, T&T provides investors and entrepreneurs with significant opportunities and business connections within an increasing and diversified market.
Trinidad and Tobago is one of the most prosperous, highly diversified and industrialized countries in the Caribbean, and a dominant player in CARICOM. While our economy is primarily energy-based, with large exports of oil, gas and downstream energy products providing the bulk of the country’s revenue, we have a highly developed industrial base, and a deeply entrenched manufacturing sector and strong service sector, especially financial services.
T&T has a range of competitive advantages such as strategic geographic location; a highly educated, diverse work force; low fuel and energy rates; a highly developed industrial sector; strategic access to regional markets through free trade agreements, a commitment to free market policies and strong democratic traditions.
Trinidad and Tobago has set as one of its major goals for economic sustainability, the integration of its economy into that of Latin America, as a platform for positioning itself as the regional hub for business, commerce and investment.
As Minister of Trade and Industry, I invite you to read this publication and explore the wide range of business and investment opportunities which this country has to offer.
Thank you for your interest in Trinidad and Tobago.
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His more than 30 years senior management experience in Finance and Insurance prepared him for the exciting challenges he continues to face in Government |
The Hon. Kenneth Valley is the Minister of Trade and Industry, Minister in the Ministry of Finance and Leader of Government Business in the House of Representatives of the Trinidad and Tobago Parliament.
His more than 30 years senior management experience in Finance and Insurance prepared him for the exciting challenges he continues to face in Government.
Prior to his current ministerial tenure, he served as the Minister with responsibility for Trade, Industry and Investments in the Government of Trinidad & Tobago, during the 1991-1995 administration.
In that capacity, he held oversight for the following initiatives, among others:
- Implementation of the State Enterprises Policy, which resulted in the reduction of the State’s direct involvement in commercial enterprises from eighty-seven (87) in 1992 to fifty (50) at the end of 1995.
- Positioning of Trinidad & Tobago as the Gateway to South America and the Business and Financial Capital of the Caribbean.
- Liberalisation of the economy through the removal of the Negative List and other quantitative restrictions on trade, and the reduction of Tariffs - all with a view to making the Trinidad & Tobago economy more competitive.
As Minister of Trade and Industry, Mr. Valley is charged with the mandate to drive the development of the non-energy sectors of the Trinidad and Tobago Economy. The objective therefore, is to achieve sustainable, long-term economic growth through:
- Diversification
- Building competitiveness
- Pursuing greater market access for manufacturers and service providers
- Integrating Trinidad and Tobago within the Latin American economy.
This is being achieved through:
- Facilitating investment growth through export and industrial promotion by forging strategic trade alliances with major countries in Latin America, North America and Europe.
- Providing the appropriate financial legislative framework to facilitate business transactions.
- Strengthening of the various trade related agencies which report to the Ministry of Trade and Industry to help them enhance the competitiveness of the non-energy industrial sector.
- Pursuing market access agreements with neighboring states in Latin America.
- Providing trade sector support for companies to meet the challenges of
globalisation.
- Pursuing aggressive diversification of the Trinidad and Tobago economy by facilitating investment in specific non-energy sector industries (seven sectors).
In his other portfolio as Minister in the Ministry of Finance, Mr. Valley is responsible for initiatives geared towards supporting and enhancing the rapidly expanding financial services sector.
Minister Valley graduated from the University of the West Indies (UWI) in 1971 with a BSc Economics Degree, majoring in Accounting, and is a Graduate of the MBA Programme at McMasters University, Canada.
He is the Deputy Political leader (with responsibility for Legislative matters) of the Peoples’ National Movement (PNM), the political party which forms the Government of Trinidad and Tobago.
Minister Valley is married to Carol Anne (née Alexander), with whom he has three children.
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