The Manufacturer Newsletter 2022

What are the benefits of trade missions? Trade
missions can be very helpful as networking events
with ‘match-making’ opportunities that can result in
both inward and outward increase in Foreign Direct
Investment (FDI). Further, there is also associated
benefit of the recognition of export opportunities
and the potential of finding partners that can help a
company operate in the target market.
It is against this background; the Trinidad and
Tobago Manufacturers’ Association (TTMA) has
prioritized trade missions as one of the initiatives to
increase exports as outlined in the TTMA’s strategic
plan to double exports by 2025. In 2020 and 2021,
the travel restrictions created the avenue for virtual
trade missions that were successful. These virtual
missions were held in Curacao, Grenada, Jamaica,
Barbados and others. In 2022, the Association
resumed physical trade missions with a physical
trade mission to Guyana in March. A total of twentyseven
(27) participants from different sectors partook
in the trade mission including construction, apparel,
food, shipping and logistics, chemicals and other
non-energy sectors.
TTMA is keen on many markets for expansion both
in the region and external to the region. For example,
the Association is to host a trade mission to Suriname
in last week of June 2022 where we also expect to
participate in Suriname 2022 Oil and Gas Summit.
frozen cuts and edible offal of fowls, sodium cyanide
and many other products.
Suriname’s GDP per capita is $6,491 (2020) and has
undergone a gold rush in recent years, and in 2020,
hydrocarbons were discovered offshore, signalling
potential for an emerging oil & gas industry. Recent
exploratory success shows several discoveries
have been made in 2020, where it is envisioned
the country to become an oil production hot spot
in the near to mid-term. Some noted events include
the country discovery of its first offshore discovery
of hydrocarbons in offshore Block 58 in 2020 and
in January 2021, the Keskesi East-1 discovery was
announced in Block 58. TT manufacturers should
take note of these discoveries and the potential
opportunities.
As indicated above, TTMA is hosting a trade mission
to Suriname in June 2022. Companies can meet
buyers and participate in the Oil and Gas Summit.
It should be noted that local companies can also
participate in the trade mission directory (magazine)
that will be disseminated during the trade mission
to various stakeholders such as Suriname business
persons, regulators and also international officials.
For more information about the
trade mission, you can contact TTMA
at 675-8862 extensions 248 or 238.
In terms of its overall country characteristics,
Suriname is a coastal country and is located in
South America. It borders on Guyana, French Guiana
and Brazil. Suriname is a small commodity-based
economy that depends heavily on the revenues from
crude oil and gold; rice, fish, timber, and bananas
are also important exports. Some of Suriname’s
top imported goods include liquefied propane,
petroleum, portland cement, cane or beet sugar,
10