Benefits for TT

This view was expressed in a statement issued by the Planning Ministry regarding TT’s participation in a regional project entitled, “Advancing the Nagoya Protocol in Countries of the Caribbean Region.” Planning Minister Camille Robinson-Regis recently announced this country’s participation in the project which will focus on access to genetic resources and the fair and equitable sharing of benefits arising from their utilization.

The overall of the project is to determine whether TTo should become party to the Nagoya Protocol which refers to the way in which indigenous genetic resources and associated traditional knowledge may be accessed, and how the benefits resulting from their use may be shared between the entities or countries that use the resources (users) and those that provide them (providers).

The ministry said TT has considerable potential with respect to the utilisation of genetic resources, particularly as a source of genetic materials which would contribute to the stock of biological resources required for research and development by external parties. This country’s agricultural sector is likely to be the primary sector for biotechnology research as there are ready markets and a high demand for the commercialisation of bioengineered agricultural products.

Other sectors which may provide opportunities may include (but are not necessarily limited to) horticulture and the manufacture of non-timber forest products such as fabrics, dyes and pharmaceuticals.

The manufacture of organically based pesticides and biofuels remain an emerging sector for the application of biotechnology with the potential to access lucrative markets for organic agricultural produce and renewable energy respectively.