Amcham emphasises importance of trade between Trinidad and Tobago, US

CEO of Amcham Nirad Tewarie said increasing trade with the Congressional delegation is a critical component of sustainable development and highlighted that trade, energy security and climate change are of mutual interest to the two parties.

Tewarie was speaking at a US State and Congressional delegation welcome reception at the rooftop of the Brix Hotel, Port of Spain on Wednesday.

He said if a magic wand could be waved, an exponential increase in US investment in TT would be facilitated.

"Since we cannot do that, we will work towards expanding the utilisation of the Caribbean basin Initiative (CBI), connecting our burgeoning tech sector more deeply with the US tech sector, likely starting with Atlanta. We are in the early stages of discussions with the US Embassy and by extension, US AID to develop and execute a project to tangibly enhance trade between our countries," he said.

Touching on energy security, Tewarie asked the delegation for its assistance in lobbying for the policy framework that would allow for the benefits of the Dragon Gas deal. He added that other cross-border fields that can be developed must not be forgotten.

"In addition, as our countries work to battle climate change, being able to tap and process the gas that Venezuela flares as part of its oil production, could have a huge global impact on the reduction of emissions associated with its oil production and provide a source of gas that can be accessed in a relatively short time to assist the countries around the world with their energy transition. We hope that as you all discuss the energy policy of the US and the economic and social needs of Caribbean countries, these issues can be considered favourably," said Tewarie.

Deputy chief of mission Shante Moore of the US Embassy highlighted the successes of this bilateral relationship in health, security and energy diversification and information communications and technology (ICT).

He said Amcham was a robust partner in nationwide vaccination efforts during the pandemic while in security and energy diversification, Amcham collaborated with the International Narcotics and Law Enforcement Affairs department to make a donation of 12 electric bicycles and two solar powered electric bicycle charging stations to the TTPS Tourism Oriented Police (TOP).

"These eBikes are assisting the TOPS unit to patrol larger tourist destination areas more frequently and improve their response time to an incident."

As for ICT, he said it provides opportunities for cross-border collaboration that drives innovation, stimulates entrepreneurship and retains talent – the lifeblood of sustained growth.

"US ICT companies are active and interested in the TT market. Working together with TT, we’re aiming to ensure resilient supply chains and the competitiveness of our industries – especially in digital transformation which is of key interest to both the government and private sector. Just a few months ago, Amcham collaborated with the US Embassy on a trade mission that resulted in Amcham becoming the official partner of Coursera for government, which empowers citizens and public officials with in-demand skills to drive sustainable economic growth and create a competitive workforce," said Moore.