Non-Energy Exports the Way to Go

• Newly appointed president of the Trinidad and Tobago Manufacturers’ Association (TTMA), Dale Parson, says non-energy exports are the way to go for long-term benefits for Trinidad and Tobago.
• “We feel we know what we have to do, and non-energy exports is the way to go for the long-term benefits of the country, and not only for manufacturers, but for the whole population,” he said.
• With the US government pulling the Office of Foreign Assets Control (OFAC) licences to develop the Dragon and Manakin-Cocuina fields, he said there were still other opportunities in the pipeline.
• Speaking on the tariff announced for T&T goods by US President Donald Trump, he noted that with all the geopolitical tax impositions and the berthing fees and so on, there are other opportunities in the region that do not attract those tariffs, that the country can still export.
• He emphasised that the tariff on T&T was one of the lowest in the region, which puts the country in a competitive position with other countries exporting to the US.
• He further acknowledged that the tariffs were a big issue, especially the developing tariff war between the US and China, and could cause a trickle-down effect, causing a 10%-15% increase on all imported goods, which would affect the consumer.

(Source: Trinidad Express)