TTMA trade mission heads to Canada

The TT Manufacturers' Association (TTMA) is taking a trade mission to Canada from September 23-27.

In a release on September 23, TTMA said this mission is led by Trade Minister Paula Gopee-Scoon and includes representatives from 20 companies across various sectors: food and beverage, chemicals, logistics, cosmetics, printing and packaging and service industries.

TTMA said the objective of this mission is to expand the regional export footprint of TT's manufacturing sector into North America.

"The TTMA aims to help participating companies secure new contacts and business deals via facilitating face-to-face meetings, networking events and site visits – enhancing their export potential and market presence in Canada," the release said.

Dr Mahindra Ramdeen, CEO of the TTMA, said, "Our mission to Canada is a strategic initiative to bolster the contribution of the non-energy manufacturing sector to the GDP of TT by creating opportunities for our manufacturers to establish and strengthen business relationships. We hope to drive economic growth and diversification."

He added that this trade mission underscores the TTMA's commitment to fostering a robust and competitive manufacturing sector.

Participants will have the chance to showcase their products and services, explore market opportunities and gain insights into the Canadian market.

The association said it is confident this mission will result in tangible benefits for the participating companies and contribute significantly to the overall economic development of TT.

"The TTMA remains dedicated to supporting our members in their efforts to expand regionally and globally," the release said.

In a separate release, the Trade Ministry said the Government recognises the significance of this trade mission, given the "potential importance of the Canadian economy to the promotion and expansion of TT’s exports.

While leading the trade envoy, Gopee-Scoon will engage in a number of bilateral discussions toward strengthening trade and investment relations and advancing the export prospects for local companies.

Through the Caribbean-Canada Trade Agreement (CARIBCAN), which has been in effect since June 15, 1986, imports of eligible products from TT have been granted non-reciprocal, duty-free treatment by Canada.

From 2018 to 2022, TT maintained a deficit trade balance with Canada, averaging $708.2 million in exports and $1.5 billion in imports annually.

Notably, several of TT’s current exports benefit from duty-free treatment into Canada, including methanol, rum, aerated waters, biscuits, mauby syrup, pepper sauce and pasta.