THE CASE FOR TRINIDAD AND TOBAGO

Happy New Year to all!  The countdown is on for Trinidad and Tobago.  The next six months will be crucial as the Government puts into high gear its strategy for Port-of-Spain to be the permanent site for the headquarters of the Free Trade Area of the Americas (FTAA).  The public education campaign of the Ministry of Trade and Industry will keep the public abreast of the FTAA bid as well as the general activities of the Ministry.  The aim is to foster better understanding of trade, the role of the Ministry and the impact of trade on all our lives. Trinidad and Tobago, specifically, Port-of-Spain is CARICOM’s choice for the permanent site of the FTAA Headquarters.  Additionally, support from Costa Rica, (reconfirmed last week) brings to the count sixteen out of a possible thirty-four votes for this country. Do you need to ask why Trinidad and Tobago?  What gives Port-of-Spain the competitive advantage over the other cities vying to house the site?  What makes the case for TT?

We are full of many natural advantages over our competitors.  We are the most southerly island of the Caribbean chain, which places us outside of the hurricane belt.  Our official language is English, which is the most internationally used language.  However, within the next two months the Government will launch a bilingual programme to better equip the country to deal with its Latin American neighbours.  This is part of a larger strategy to integrate the economy into the Latin American Market. Trinidad and Tobago’s strong financial and manufacturing sectors coupled with our central location in the hemisphere (for travel to North, South and Central America) make us ideally poised to be the commercial, financial and communication hub of the Americas.

Our socially and culturally diverse society complemented by a stable democracy and dynamic business climate, make our twin island republic the natural choice for the permanent site. With an economy fuelled by energy and petrochemicals and a GDP of US$7,072 per capita, Trinidad and Tobago maintains one of the highest standards of living in the region. This is manifest in our low Consumer Price Index of 4.0 percent and stable exchange rate of US$ 1 — TT$6.30.  Our population of 1.3 million has an adult literacy rate of 91percent. Apart from Canada, Trinidad and Tobago has the highest level of US foreign capital investment in the Western Hemisphere. The United States is also dependent on us for a substantial amount of its natural gas supply. Further, among the countries bidding, Trinidad and Tobago boasts the lowest rate for electricity. Our relatively low cost of transportation, food and leisure combine to make executive living standards highly competitive when compared with other major metropolitan centres in the Western Hemisphere. 

Our two major airports, Piarco International in Trinidad and Crown Point in Tobago are both well equipped to handle wide-bodied aircraft. Piarco is a modern world-class facility which accommodates comfortable and convenient connections to and from all the major metropolitan cities. It has well-established air routes, and is serviced by major international air carriers that fly to many of the major cities in the Western Hemisphere including Paramaribo, Suriname; Caracas, Venezuela; Miami, New York and Washington in the USA; Toronto, Canada; San Jose, Costa Rica and Georgetown, Guyana; with connecting flights to other destinations. We also have excellent sea routes and two major sea ports, Port-of-Spain and Point Lisas.

The port of Port-of-Spain is a sheltered harbour and is capable of handling bulk container shipping and cruise ships. Point Lisas is a fully developed industrial port that specialises in handling petrochemicals, iron, steel and containerised and general cargo. In Trinidad and Tobago there are many opportunities to enjoy an enriching and holistic life. Trinidad is fast-paced, industrialised, cosmopolitan and eager to stake its claim among the developed nations of the world. Tobago, our smaller and more serene sister isle, is home to endless beaches, an array of wildlife and wide-range of outdoor activities. We also have world-class golf courses on both islands. What Trinidad and Tobago has to share is a rich natural environment and a vibrant culture that seduces visitors and engenders a sense of pride in all of us.

The aforementioned and other facts make a solid case for Trinidad and Tobago being the permanent site of the FTAA Headquarters. However, if we move past the obvious the reasons are deeper. Step back for a moment and think about the locations of the major agencies in the world. With the exception of the Association of Caribbean States and the United Nations/Economic Commission for Latin America and the Caribbean (both located in Trinidad and Tobago) the majority of agencies are located in developed countries. For example, the IMF, World Bank, IADB and United Nations are all in the United States; the WTO is in Switzerland.  It would be a significant achievement for developing nations in general and this hemisphere in particular if the headquarters for the largest free trade area in the world was located in Port-of-Spain, Trinidad.

The FTAA is refashioning the relationship of the Americas. On a recent promotional tour to garner support, one diplomat quite aptly summarised Trinidad and Tobago’s bid with the acronym MOVE. He explained that M stood for management and the belief that as a region and a people we can manage large enterprises. O was embracing ownership of our future as a region, of which the FTAA will be a major part. V, represented vision, and having the long-term vision of what Latin America and the Caribbean want, so we can work towards it as a region and E as empowerment and empowering ourselves to take charge of this large part of our hemispheric future. MOVE, he emphatically stated, suggests movement and action. The FTAA is an unprecedented piece of trade diplomacy and Trinidad and Tobago’s candidature is about this region taking action and taking greater charge of its future to achieve what we want. 

At stake here is far more than being selected as the site for the Secretariat. This is a golden opportunity to enhance our standing in the international arena and say without doubt that Trinidad and Tobago and the region are standing up to be counted on the global stage. The onus is on each and every one of us to proudly take this message forward, firm in the belief that we are in fact the best choice for the site of the FTAA Headquarters.  This article is part of the public education by the Ministry of Trade and Industry. For further information please contact Dionne Ligoure, Communications Specialist, the Ministry of Trade and Industry at dligoure@tradeind.gov.tt or 868. 623.2931-4 ext 2028. Fax 868.627.8488