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Today Trinidad and Tobago, a twin island democratic nation situated in the Caribbean has much to be proud of and thankful for. On 31st August 1962 Independence was achieved and today Trinidad and Tobago is on a solid path of growth and development. With over twelve consecutive years of economic growth, Trinidad and Tobago has set itself the goal to achieve developed nation status by 2020.
At the High Commission our mission is to increase tourism, trade and investments, to deepen cultural linkages and to foster greater people to people interaction between India and Trinidad and Tobago. To this end we are pleased to see the increase in travel between India and Trinidad and Tobago both for business and pleasure in the last two years. Over the last three years, under my tenure, the Mission has established a theme
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"Over the last three years, under my tenure, the Mission has established a theme
‘Strengthening Relations—Trinidad and Tobago and
India'" |
“Strengthening Relations—Trinidad and Tobago and India”. A number of firsts have been recorded including the first ever carnival, first ever Indian Arrival day celebrations and a hosts of activities and business promotions that have resulted in over 300% increase in travel from India to Trinidad and Tobago. Also significant investments have been made in Trinidad and Tobago by Indian companies including ESSAR’s $1.2 billion investment in a steel plant. A major Indian bank is awaiting approval to begin business in Trinidad and Tobago and very shortly the first Bollywood movie will be shot in Trinidad and Tobago.
On the cultural side, the India/Trinidad and Tobago Association has been formed and cultural and business delegations with an increased number of trade fairs have been going on in Trinidad and Tobago strengthening relations further. Last year a number of other interactions occurred including members of the judiciary from India who visited Trinidad and Tobago for friendship cricket matches with the Law Association of Trinidad and Tobago.
At this juncture under the dynamic leadership of the Minister of Trade and Industry the Honourable Kenneth Valley, a golden opportunity presents itself for us to strengthen relations further in the realm of trade and investments with India.
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This historic trade and cultural delegation will allow us to bridge the distance and knowledge deficit and strengthen our relations in trade, investment and culture |
There is significant potential because of particular advantages as follows:
- We are a diaspora country. As such there is significant cultural similarity. You will find names of places like, Faizabad, Agra Street, Calcutta, Golconda, Madras Settlement etc. Hindi music and songs are very popular. Over 5 radio stations are all Indian format.
- We have a historical connect and similarity with India. A common colonial past, both democracies, a similar outlook on world affairs, a strong judicial system and English being the language of business and indeed our official language. Significantly also is our similarity in having a multi ethnic, multi religious and multi cultural population.
- The love for cricket binds us, You have Sachin Tendulkar, We have Brian Lara. On this note, World Cup 2007 in the West Indies provides a tremendous opportunity, and we are in fact quite pleased that the Indian Team will be based in Trinidad and Tobago.
- Trinidad and Tobago is the Gateway to CARICOM and Latin America. Our geographic position between North Central and South America has imbued us with the goal of becoming the hub for investment, finance, manufacturing and transshipment. Favorable market access agreements coupled with Trinidad and Tobago’s other unique advantages, will assure the investor from India both in manufacturing and services sector, hassle-free entry into Latin America, North America, Europe and Caribbean by setting up operations in Trinidad and Tobago.
- Trinidad and Tobago presents the investor with very attractive benefits for example the ability to repatriate profits, to purchase land for residence and business operations, to incorporate and own a company 100% and also free zones.
In conclusion, a brief look at some of the challenges to trade. Our Minister of Trade and Industry the Honorable Kenneth Valley in his address at the CARICOM India Economic Forum held in Port of Spain made mention of the challenges we face to increasing trade relations. These include distance, inadequacy of information exchange, inadequate shipping and air links. These hurdles must be overcome as we seek to promote greater bilateral trade between India and Trinidad and Tobago and the greater Caribbean Region. This historic trade and cultural delegation will allow us to bridge the distance and knowledge deficit and strengthen our relations in trade, investment and culture.
My expectation and hope is that out of interactions like these we can each make a difference, and collectively we can Strengthen Relations—Trinidad and Tobago and India to our mutual benefit.
H.E. Pundit Maniedeo Persad
High Commissioner
New Delhi
March 7th 2007
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