A season to be thankful

We at the T&T Chamber would like to first thank our members who understand the values for which we stand. The principles and objectives that have guided our establishment since 1879 are indeed as valid today as they were at that time.

In rolling out its many initiatives, the T&T Chamber has sought to be proactive and constructive, in dialogue and in its undertakings. We remain open to partnership with all relevant stakeholders to provide our country with the best possible chance of becoming a comprehensively diversified world class economy.

With a mandate to advocate for the interests of business in Trinidad and Tobago, the T&T Chamber undertook a wide range of responsibilities towards this goal during the past year. Apart from the annual recommendations for the national budget, which were acknowledged by the Minister during his budget presentation, the T&T Chamber has provided meaningful input to legislation, foreign exchange, Tobago’s economic development, the inter-island transportation system, labour, trade, crime, governance, FATCA and social responsibility, to name but a few. We have accomplished this through our presence on over 50 national committees and boards, and through collaborative relationships with a range of national stakeholders and government. In the coming year, commit to again working tirelessly for improvements in the business environment in TT.

We fully recognise that the world today is in a state of flux and that we live in unprecedented times. Global events have impacted Trinidad and Tobago very directly as energy prices have plummeted in the past months, severely impacting government revenue. As a country, we have had no choice but to adjust to what has been called a “new normal”. With the future remaining largely unpredictable, however, we must evidently pay more than lip service to diversification and economic sustainability.

Open market economies such as ours operate in cycles, and economic downturns can be important teachers to those who are paying close attention. It stands to reason that we should learn from past mistakes and take preventative action. Meticulously monitoring and modifying our expenditure where necessary will ensure that a measured balance between expenditure reductions and revenue flows keeps our economy as robust as possible. In doing so, we will strategically programme Trinidad and Tobago to be in the best position for when the next economic upturn begins… hopefully, this will be sooner rather than later.

At the end of another challenging and eventful year, we at the Chamber would like to take this opportunity to wish our members, as well as the national community, a very bright and most prosperous New Year. At the same time, we wish to reiterate that each of us has a huge responsibility to put country first and participate in ways that assume a far greater role in the development of our economy; if not for ourselves, then for the generations to come.

A Happy New Year to all.