UK/TT trade and tourism booming

TRADE AND TOURISM between the United Kingdom and Trinidad and Tobago are booming and Prince Andrew, the Duke of York, was assured that this trend will be continued. The assurance came from Hilton Trinidad general manager Ali Khan when he addressed a luncheon hosted on Thursday at the Hilton by the British Caribbean Chamber of Commerce (BCCC) in the Duke’s honour. Khan told Prince Andrew that although the BCCC was a mere three years old, it has played a significant role in strengthening existing bilateral relations between TT and the UK. He said UK/TT trade had increased from UK$81 million in 2002 to UK$96 million in November 2003. Khan said TT/UK trade had also increased from $57 million to $70 million over the same period.

The Hilton general manager also revealed an increase in British direct foreign investment from US$ 100 million in 1998 to US$291 million in November 2002 “which is reflective of the growing interest in our oil and gas, tourism and other sectors.” “As a tourism destination, TT is enjoying an increasing number of arrivals from the UK with approximately 52,000 visitors in 2002 and 55,000 estimated arrivals for 2003,” he said. Khan noted an increase in UK/TT air links with British Airways, Virgin Atlantic and Axel Airlines providing weekly flights between the UK and Tobago. He added that TT remains the “destination of choice.”

Earlier in the day at the Port-of-Spain City Hall, Prince Andrew said one of the reasons for his visit was to learn of the trade opportunities which existed between TT and the UK and how best these could be nurtured for the benefit of both nations. The Duke expressed a particular interest in TT’s energy sector and paid courtesy calls to the Port-of-Spain headquarters of British energy companies, bpTT and British Gas. Following a visit by Prime Minister Patrick Manning to London last December, British Petroleum and British Gas signalled their intention to become more involved in the local energy sectors.