TT, Spain talk double taxation

Speaking on Monday at a brief ceremony at the Eric Williams Financial Complex in Port-of-Spain to signal the start of the talks, Minister in the Ministry of Finance Conrad Enill said the successful conclusion of this treaty is essential for fostering deeper business relationships, promoting transparency and accountability and promoting the economic development of both nations.

“The positive background against which these negotiations are about to begin will certainly ensure that the climate of friendliness and cooperation which currently exists between our countries will be further enhanced,” Enill stated.

The minister observed that TT-Spain relations have become more active with an exponential increase in bilateral trade from the mid-1990s to the present.

TT’s major exports to Spain include LNG, petrochemical products (specifically methanol and anhydrous ammonia), iron and steel, rum and aromatic bitters.

Spanish energy company Repsol holds a 20 percent stake in the equity of Atlantic LNG’s plant in Point Fortin and is now actively involved in TT’s energy sector.