TT Chamber president: Turning talk into action

SONJI PIERRE-CHASE

In this edition of the TT Chamber's column, we are proud to feature the inaugural address of our incoming president, Sonji Pierre-Chase.

Ladies and gentlemen, first and foremost, it is important to not just say thanks but also to give credit.

I take this opportunity to express my profound thanks to our immediate past president, Kiran Maharaj, for her unwavering commitment to the chamber.

Not only did she successfully steer our ship on course for the last two years, but she is also credited with ensuring the chamber remained resolute in its vision and mission.

My task today is to express to you, our members, what my plans are as incoming president.

As enormous as that task seems, it is not insurmountable.

At the chamber, we fundamentally believe in stability and continuity, as we see this as the path to prosperity.

Last year's theme of our annual business meeting was Pathways to Prosperity and this year it is Creating Shared Prosperity, Turning Talk into Action.

Built on a robust 146-year history, the chamber is not just about talk, but about action – we don’t just talk the talk, we turn talk into action!

The building blocks for our shared prosperity are already in place, industriously laid by my predecessors, all leaders in business in TT and the hard-working team at the secretariat. My mission, therefore, is simple, to continue building on that sturdy foundation laid by my predecessors, to continue advancing the interests of our members with the aim of building a stronger and more resilient TT.

When I say we don’t just talk, we act, I can proudly say today, that over the last 146 years, we have assiduously advocated for our members’ and by extension all businesses interests. Whether it was lobbying for changes in policies, legislative changes, improvements in the ease of doing business or seeking new measures that would contribute to economic growth, we have done it and will continue to do so. We saw success in our VAT refund lobby with the Ministry of Finance and Minister Imbert, with SMEs receiving their VAT refunds earlier this year.

When over the many decades we have been saying to the government, we need diversify our economy, to foster the non-energy sector and wean our dependency off oil and gas, we did not just stop at lobbying. We aggressively focused on our SME sector, that today, more than 66 per cent of our members are SMEs.

Through our Nova Committee and the contributions of our board members, Christine Stone and Marc Persaud, we have ardently worked towards building this sector, as we see it as the backbone of a strong economy.

With this fervour, we signed an MoU with the TT Stock Exchange to support the listing of SMEs.

We also collaborated with CAF and Eximbank to host our inaugural SME Conference, Catalyst – Propelling SMEs for Success.

The conference was not a two-day talk shop, but a measured commitment through the Ministry of Finance, CAF and Eximbank, focussed on funding for the SME sector, to ensure its growth and development. It is our intention to ensure that this event becomes an annual event on the national calendar.

We introduced our Orange Economy Committee as a Standing Committee, recognising that TT has a thriving entertainment and cultural sector, that, when harnessed, can become a significant contributor to our GDP. We were heartened to hear the PM’s recent pronouncements of his intention to introduce an Art and Cultural Innovation Council, as a commitment to unlock the power and growth of our creative sector. It is my intention to ensure the chamber’s participation in this measure.

Similarly, we introduced our Food Security Committee, as part of our measured commitment towards reducing our food import bill, especially in light of our severe forex challenges. We also relaunched our Healthcare Committee (formerly Pharmaceutical Committee) recognising that a healthy workforce is a productive workforce.

Speaking of forex challenges, our position paper on forex challenges was presented to the Ministry of Finance, and it is our intention to continue to work with the government and Central Bank on this issue, as it remains a significant concern for business.

We are pleased to note the pronouncements PM Stuart Young, that the forex issue is at the top of his agenda.

When over the years, we lobbied the government, to improve the ease of doing business, and get rid of the bureaucracy in day-to-day business activity, we did not stop at lobbying, we introduced our Digital Business and Technology Committee, under the lead of our board champion, Jean-Paul Dookie, to work with government at digitising the business landscape in TT.

Through our Trade and Business (TBD) Unit, we have developed a trade and business development alliance, which is an MoU we intend to sign with multilateral agencies, regional private sector organisations and members of the diplomatic corps, as we seek collaboration on projects and initiatives that will enhance economic and social opportunities for businesses in TT.

Our TBD unit continues to provide support to members on all their trade and business development needs and seek strategic B2B linkages in new markets.

My intention is to ramp up the work of our TBD unit in response to geo-political changes and the current tariff wars.

With our key government partner, Ministry of Trade and Industry (MTI), and more particularly Minister Gopie-Scoon, we have worked collaboratively in advancing measures aimed at building stronger and more resilient businesses that will contribute to national development.

Whether it is through collaborative support in the hosting of trade missions to key markets, or financial support for some of our major projects, MTI remains a key partner in our public-private sector collaborations.

We recognise that crime continues to be one of a major deterrent to business operations.

As such, through our Crime and Justice Committee chaired by John Aboud, we will continue to work with the TTPS and all stakeholders to address crime and security.

As the board champion for our Crime and Justice Committee, it is my intention to re-focus the chamber’s contributions in addressing crime and security.

With our Tobago Division, we are the only private sector organisation that strategically addresses issues affecting the business community in our sister isle.

The work of our Tobago Division is sometimes under-reported, and it is my intention to see greater emphasis placed on our Tobago Division as being the true voice of business in Tobago.

Ladies and gentlemen, my motivation is simple, to continue on the path for prosperity that has been laid by my predecessors, fostering greater collaboration between the public and private sector, and reaffirming our commitment to creating shared prosperity.

It is therefore with deep gratitude that I stand before you today and accept the role as the incoming president of the TT Chamber of Industry and Commerce.

I sincerely wish to thank members of the board of directors for trusting your confidence in me to continue to steer our ship forward.

If you will permit me a minute more of your time, and the liberty to sample the lyrics of the winner of 22 Grammy Awards and 2018 Pulitzer Prize for Music – 146 years in business, this is bigger than just talk, we don’t just talk, we turn talk into action. You can’t fake influence – the TT Chamber of Industry and Commerce is the most influential voice of business!