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Thursday 23 May 2019
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Gopee-Scoon: Invest in Africa

MINISTER of Trade and Industry Paula Gopee- Scoon has called on local businesses to invest in Africa.

She made the call as she addressed participants of the 16th Annual Trans-Atlantic Trade and Investment Symposium at the Trinidad Hilton and Conference Centre, where she shared the Government’s Policy Framework which is aimed at intensifying relations with specific countries, inclusive of Kenya, Tanzania, Ghana and Cuba with the participants.

She noted that platforms such as the symposium served to deepen mutually beneficial partnerships which will ensure that Trinidad and Tobago and African companies are able to compete in an increasingly competitive world.

She called on local businesses to invest in Africa, saying that “an important strategy for achieving Trinidad and Tobago’s diversification agenda is to focus on expanding into and developing partnerships with other developing countries.” “In the Government’s 2015 Manifesto document, we indicated our aim to intensify relations with specific countries, inclusive of Kenya, Tanzania, Ghana and Cuba.

This has now become the Government’s Policy Framework. What that means is everything that was promised will be delivered by this Government.

A major part of our Policy Framework is to support and encourage local professionals and service companies to export energy services to emerging oil and gas producing countries such as Ghana and Tanzania.

This symposium presents an ideal platform to do just this,’ she said.

She further said “for our local business population in particular, those who have outgrown the Region, the question is where next? Why not Africa; where Commonwealth Africa with its abundance of resources and similar legal regime provide an excellent opportunity for growth. We need to begin to take steps to facilitate movement in exploring trade and developmental opportunities in the African continent, leveraging on the skills we have acquired in this region.

This movement will lead to the momentum that is required for success”.

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