US Report: No difference between PNM and UNC Govts

THE United States Embassy in Trinidad and Tobago finds no significant difference between successive PNM and UNC governments except “active” attempts by the former to investigate allegations of corruption against the latter.

According to the US Embassy’s Country Commercial Guide (CCG) for fiscal year 2003, “although the two major parties represent different ethnic groups and regions (PNM-urban/Afro, UNC- rural/Indian) there is little difference between them in their platforms”. “The PNM generally shares the same viewpoints towards economic reforms and shares the goals of fighting crime and drugs and improving social services,” the CCG stated. The CCG added that despite concerns raised by the Embassy following the December 2001 electoral deadlock, the absence of a working Parliament did not impact negatively on the business climate in TT and the PNM “continued the UNC’s policy of supporting foreign investment, especially in the energy sector”. “The government of Prime Minister Patrick Manning appointed in December 2001 has continued the sound macroeconomic policies of the previous regime, and is trying to further improve the investment climate,” the CCG said.

The CCG viewed crime and drug trafficking as the main political issues which could affect TT’s business climate. “The Manning government has maintained close cooperation with the US government on issues involving drug trafficking and international terrorism,” the report said. The CCG also noted that the PNM “has been active in investigating allegations of corruption linked to the previous government”. However the CCG does not say anything about UNC efforts to investigate corruption allegations during its six years in office. The report added that since 1992 “almost all investment barriers have been eliminated” and “the investment climate is very good”. The CCG expects this trend to continue with plans to further expand the US$1 billion Atlantic LNG plant  will bring increased foreign direct investment into TT which has averaged approximately US$300 million annually over the last three years. The report further notes “rule of law and respect for contracts are a big part of business transactions” and US credit rating agencies have looked favourably at TT’s economic prospects.