Trinidad and Tobago is looking toward the blue economy for sustained economic diversification.
During the 87th Annual General Meeting of the Shipping Association of Trinidad and Tobago, Minister of Works and Transport Rohan Sinanan said the Government is actively working to ensure the maritime and logistics industry is poised to be global leaders.
He noted that under the National Maritime Police, and strategy are key initiatives that are well in process for implementation. These include the Public-Private Partnership Project, self-regulation for the industry, and the installation of a heavy lift at the CARICOM dock.
“It is my view that the centre of this transition lies in the maritime sector. With the maritime space 15 times our land mass and the blue economy estimated to be worth over US$22 billion, the Government has moved decisively to harness this potential.”
Meanwhile, Prime Minister Stuart Young stressed the importance of appropriate representation and cooperation to protect Trinidad and Tobago and the CARICOM region’s interests, especially when global decisions affect the way business is done.
Stemming from his conversation with United States Secretary of State Marco Rubio earlier this week, the Prime Minister revealed two areas that will affect the Association in particular: potential tariffs on goods and services imported from China, and tariffs on ships built in China and any fleet that has an order to be built in China.
“I am convinced that unless we unify as a people, and unless we prepare ourselves to work together, and that is across all sectors, we will be left behind in what is taking place globally. And whoever doesn’t see that big picture, you are putting us in peril.”
The Prime Minister noted that despite the negatives, with continued cooperation and the support of the Government, the industry will continue to be a driving force for the economy.