Competition in Trinidad Essay

505 WordsDec 31, 20123 Pages
Trinidad & Tobago, from the time of the conquistadors, has served as the crossroad of trade for the Americas. Today it is not only maritime shipping and air transport hub, but also an international trading, banking, and services center. Trade liberalization and privatization over the last several years, along with the hemispheric movement toward Free Trade Agreements, while still in progress, will increase Trinidad & Tobago’s global, regional and sub-regional prominence. The T&T dollar-based economy offers low inflation and foreign exchange risk, as one of our dollars is equivalent to $6.41 of T&T dollars. Its legal and regulatory regimes are business friendly. Its government is stable, democratic, and reform minded and seeks foreign investment in all sectors, especially services, tourism and retirement properties. The productive and manufacturing sectors remain severely underdeveloped. This translates into socio-economic inequalities marked by a high percentage of the population living at or near the poverty level, with high unemployment, and limited education and other social benefits. These projects will generate needs for technology, goods and services. Trinidad and Tobago has potential for growth in the areas of electric power generation, health care services, port services, land development, road construction, water distribution and purification, telecom, and manufacturing. The United States is one of Trinidad and Tobago’s most important trading partners, with about 30% of the import market, but competition in sectors such as: telecom equipment, automobiles, heavy construction equipment, consumer electronics, computers, apparel, gifts, and novelty products has made merchandise imports rise in 2005 by 16% from 2004 to US $4.1 billion. Merchandise exports were US$964 million. . Only a few real obstacles face us in the startup of our

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