Trinidad and Tobago Chamber, IDB discuss trade opportunities

The TT Chamber of Industry and Commerce (TT Chamber) recently met with a team from the Inter-American Development Bank (IDB) to explore areas of collaboration and growth.

TT Chamber, in a release on Thursday, said one of the key areas of discussion was the reduction of trade costs and enhancing supply-chain resilience – particularly in response to the food security crisis in the region.

The IDB team, led by Fabrizio Operrti, manager of the Integration and Trade Sector, and Carina Cockburn, country representative, provided valuable insights on the orange economy, digitalisation and digital transformation, agriculture and food security, infrastructure, energy, climate change, education, trade and investment, and competitiveness.

These areas were identified as crucial for sustainable development and economic advancement in Trinidad and Tobago.

Operrti said closing the digital infrastructure gap in TT could have a significant impact on GDP, estimated at 9.3 per cent.

It could serve as a pathway to diversification and exponential growth, moving away from the traditional reliance on oil and gas.

Kiran Maharaj, president of TT Chamber welcomed the opportunities and insights provided by IDB to support the vision of local entities.

She emphasised the need for co-operation and knowledge transfer between the IDB and the TTCIC to drive economic growth, enhance trade and foster innovation.

The meeting served as a catalyst for sustainable solutions that will benefit all stakeholders, the release said.