Valley: $40M lifeline to BWIA due to FTAA bid

GOVERNMENT’S decision to throw cash-strapped national airline BWIA a $40 million lifeline was partly the  result of its bid for Port-of-Spain to become the permanent headquarters of the Secretariat of the Free Trade Area of the Americas (FTAA). The country chosen to host the Secretariat will stand to benefit from an enhanced international profile, increased tourism revenue and employment creation among other things. Speaking at a breakfast meeting hosted by the Ministry of Foreign Affairs at the Crowne Plaza Hotel yesterday, Trade Minister Kenneth Valley explained that BWIA was a significant factor in the success of  Government’s Vision 2020 plan.

“We cannot expect to be a developed country by the year 2020 without our own airline. This is a reality,” he said. “If we are looking at integrating our economy into Latin America, it is important that we provide air transport. BWIA is still our best bet.” Valley said establishing a new airline was not the best option because of the high cost factor, but if it came to the point where Government could no longer support BWIA, it might decide to shut down the airline. “However, we have not come to that point yet,” he said. The Minister also spoke of Government’s plan to position Piarco International Airport as an alternative to Miami for travel in and out of Central America. Trinidad and Tobago Ambassador to Venezuela, Sheelagh de Osuna, said TT was receiving support from its Caricom counterparts to be the headquarters.

“No other candidate can say that they represent such a body - 14 countries of the western hemisphere out of 34, this has given us a huge advantage.” Permanent Secretary in the Ministry of Foreign Affairs, Patrick Edwards said TT held numerous advantages over the other candidates, specifically its culturally and socially diverse society, stable democracy, low cost of living, a low rate of inflation and secure environment. Valley noted that  a liberalised telecommunications sector would be an added advantage and  Government planned to debate amendments to telecommunications legislation which would provide the framework for the sector’s liberalisation.