Trade Ministry installs TIPA board

A CABINET committee has chosen businesswoman and InvesTT chair Franka Costelloe to head the new TT Trade and Investment Promotion Agency – an amalgamation of exiting State-run trade organisations: ExporTT, InvesTT and CreativeTT.

The now-defunct ExporTT served as the national export promotion company. InvesTT was the national investment promotion company and CreativeTT was the creative industries development and promotion company.

The new agency will function at the offices of InvesTT and ExporTT in Port of Spain until a permanent home is found.

Costelloe and all but one board member received their instruments of appointment from Trade Minister Paula Gopee-Scoon at the ministry’s office in Nicholas Towers, Port of Spain, on August 14.

The board comprises of deputy chair Calvin Bijou, and members Bevan Narinesingh (attorney), Alicia Hackshaw (aviation), InvesTT director Gerard Noel (investments), VEMCO chief executive Christopher Alcazar (manufacturing); Angostura executive manager Rahim Mohammed (human resources); Amoi Romero (Tobago House of Assembly representative); Mahindra Ramesh Ramdeen (manufacturing), and Alicia Cabrera (marketing).

Gopee-Scoon said the board "will provide a pivotal role in steering the agency towards achieving its objectives.

"Each member was selected based on their skills, experience, and dedication to advancing TT’s economic interests."

The consolidation of agencies, she said, would save the State on operational and rental costs and provide greater collaboration between the government agencies.

It is designed to help make TT a leading hub for international trade and investment.

Along with goods, the agency will promote exports and investment in the services industry, including information and computer technology, maritime services and the creative industries.

"(The amalgamation) is a significant step forward in aligning the government’s efforts to create a conducive environment for increased exports and increased investments in various sectors.

"The establishment of the agency (resulted from) years of work, research and engagements behind the scenes," she said.

The ministry met with similar agencies in Colombia, Spain and Jamaica, and studied others in Switzerland, Nigeria, Qatar, Guyana and St Lucia.

"The development of this agency comes after a ministerial committee in 2022 considered the work of multiple agencies involved in the promotion of investment and export of TT’s goods and services," said Gopee-Scoon.

The Cabinet committee, she said, found existing overlaps between the three agencies and the TT Coalition of Services Industries.

"As such, the committee (found that) greater impact and results can be achieved (by consolidating) these activities into one organisation."

She said the agency was also necessary to strengthen and modernise the country’s export and investment promotion institutional arrangements to be on par with similar high-profile regional and international agencies.

The ministry has also established satellite commercial offices, with staff, in the US, UK, Jamaica, Guyana and Panama. It engaged several consultants to assist in establishing the agency, including PricewaterhouseCoopers in the first phase.

Advisory Services Ltd was hired to provide human resource and industrial relations services, and aided in design of the organisational structure, approved by the Cabinet in April.

Odyssey Consult Ltd has provided change management services.

"That consultant has been meeting with staff and management of all three former entities, to ensure a smooth transition to the new agency and to give management the tools they need to lead the transformation," Gopee-Scoon said, noting that six workshop sessions have been held with staff and management team to date, with more sessions planned.

The ministry also received support from the Inter-American Development Bank, via a consultant, to help develop strategic and operational plans.

"The agency will focus on enhancing our trade relations, simplifying investment processes, and fostering economic opportunities that benefit our nation and its people," she said.

She added that staff will maintain their job descriptions, duties and salaries, while the new functions and salaries are before the Chief Personnel Officer.

"The board will be expected to ensure that day-to-day operations of the agency continue unaffected by the transition," she said, adding that they are also tasked with executing the transition plan, and the first strategic and operational plans.

Costelloe thanked the staff and board of directors of the three agencies.

"These three powerhouses have been brought together with a vision of creating a formidable organisation that will drive forward agendas to support business opportunities in TT and drive export growth," she said.

Business Day understands the organisational structure provides for 110 employees, significantly more than the 67 "warm bodies," permanent secretary Randall Karim said were employed at the three previous agencies.