Trinidad and Tobago (T&T), is a well known producer and exporter of petroleum, natural gas, methanol and ammonia. The energy sector generates roughly 45% of the nation's annual GDP and
contributes most to the estimated annual 15.8K USD GDP per capita.
But with oil prices continuously < 50USD per barrel, the reliance on the energy sector has seen an
ever increasing strain on foreign exchange earnings and worsening of the country's balance of payments position. The manufacturing sector, which contributes between 8-10% of annual GDP, has a role to play in redressing this imbalance. This can be achieved in part, through increased exports, particularly to markets which will pay in hard currencies such as USD, GBP or EUR.
The Trinidad & Tobago Manufacturer's Association (TTMA) is supporting local manufacturers
to find foreign markets for their products. Since 2016, the TTMA has engaged foreign based
agents to assist in finding export market opportunities for local producers. Coverpoint RCM Business Solutions is pleased to have recently been engaged as one of these agents. Working in close collaboration with the TTMA and local manufacturers, we will search for European markets for a wide range of outstanding products from Trinidad & Tobago. To do this we will actively engage in:
. Market research
. Competitive intelligence
. Buyer/Distributor search
. Confirmation of EU entry regulations & requirements
Strong fact finding & analysis, networking, curiosity and resourcefulness will be key to this projects' success. Coverpoint RCM also looks forward to close collaboration with local Embassies and Chambers of Commerce to help facilitate and achieve this joint mission.