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TTMA among trade delegation heading to DR

Published: 
Tuesday, September 12, 2017

The T&T Manufacturers’ Association (TTMA) is part of a trade mission heading to the Dominican Republic (DR) tomorrow to pursue the expansion and promotion of investment opportunities between the two countries.

Led by the Ministry of Trade and Industry (MTI), the collaborative exercise will be held from September 13 to 15.

The ministry's acting Permanent Secretary Frances Seignoret will lead the delegation which includes TTMA Chief Executive Officer Dr Ramesh Ramdeen along with a contingent of local manufacturers.

It is expected the trade Mission will further strengthen the existing relationships between the two countries while reinforcing the MTI’s commitment to public-private sector partnerships to grow and facilitate non-energy exports.

The MTI and the TTMA are both of the view that this mission is critical to opening new markets, having successfully collaborated on similar visits - the last being to Cuba in 2016.

The aim is to identify business opportunities; strengthen relationships with distributors, agents and enterprises; source materials and products; explore investment opportunities and establish alliances with trade and economic agencies.

The MTI’s participation in this mission was informed by current trade agreements including CARICOM’s Free Trade Agreement with the DR, which provides access to over ten million consumers for trade in goods and future trade in services.

T&T has enjoyed a favourable trade balance with the DR, and in 2016, exports to that island totalled TT $487.2 million, while imports amounted to TT $180.6 million.