The Trinidad and Tobago (T&T) Chamber of Industry and Commerce has welcomed the newly inked Memorandum of Understanding (MoU) between the governments of Guyana and Trinidad and Tobago, emphasising that this will promote much-needed investment and trade opportunities.
See below full media release issued by the Trinidad and Tobago (T&T) Chamber of Industry and Commerce:
The recent signing of a Memorandum of Understanding by the Governments of Guyana and Trinidad and Tobago is a significant step forward for trade and investment relations between our two countries and CARICOM as a whole.
The MOU, which is targeted at agriculture, food security, energy, education, national security and tourism, comes at a critical time when the world is facing threats to global supply chains, extreme weather events, security issues and rising costs of living.
As a private sector organization that supports regional trade and investment, we recognize that one of the major pain points that must be addressed is non-tariff barriers (NTBs). To this end, we welcome an assessment of identified NTBs and look forward to the findings as we move towards the realization of the objectives of the CARICOM Single Market and Economy. We are pleased that a high-level Commission to oversee the implementation of the MOU will be established and will include representatives of both the public and the private sector.
The global trends that are presenting challenges to the region are clear and we now have an opportunity to work together for the sustainability of the CARICOM economies. The T&T Chamber stands ready to support any initiatives in making this a reality.