Welcome
to
TRINIDAD & TOBAGO
Business Development Visit: London & West
Midlands
14th to 19th March 2011
Trinidad & Tobago:
”what we want you to know”
Trinidad & Tobago:
10 Unique Selling Propositions
•Largest buyer of UK goods and services in the region
•Largest CARICOM economy
•Largest GDP in the English-speaking Caribbean
•Second largest GDP per capita in Latin America & the
Caribbean
•Second largest recipient of US Foreign Direct Investment in
the Western Hemisphere
•Largest single-site exporter of ammonia in the world
•Largest producer & single-site exporter of methanol in the
world with 18.5% of global production.
•Sixth largest produce of LNG in the world. Supplies 50% of
US LNG needs.
•Largest regional manufacturing base
Trinidad & Tobago:
UK and T&T: Trade & Investment
•In 2010 est. £400 M of trade between the UK & T&T
•UK companies own the largest quantity of energy acreage in Trinidad
•Approximately 50 British companies in T&T
•Approximately 100 companies inclusive with British capital operating
locally
•10 FTSE 100 UK companies have investments in Trinidad
•UK currently represents 2.3% of Trinidad & Tobago’s imports – room for
growth!
•BPTT is the country’s largest hydrocarbon producer, accounting for more
than half of T&T’s oil and gas production. It facilitated the birth of Trinidad
& Tobago’s local offshore platform fabrication industry.
•BGTT is the second largest gas producer after BPTT and it is the only oil
and gas company with operations both onshore and offshore. In 2009,
BG T&T was the 4th largest producer within BG Group, behind Egypt, the
UK and Kazakhstan.
Key Economic Indicators
@ 2010/2011
• Population = 1.3 million • 5,127 sq. km. (total)
• Trinidad & Tobago Dollars • Capital City, Trinidad =
• £1 = approx. TT$10.00 Port of Spain
• GDP = US$22.35 Billion (2010)
• GDP per capita = US$17,044 (2010)
• Est. GDP Growth = 2-3% (2011)
• Rate of Inflation = 12.5% (Jan 2011)
• Unemployment Rate = Est. 10% (Dec 2010)
• Moody’s = Baa1 (2009)
• Standard & Poor’s = A+ (2010)
• UK Exports = £100.7 M @ 2010
• UK Imports = £300.6 M @ 2010
Why do business in
Trinidad & Tobago?
• Strategic geographic location: Gateway to South & North
America.
• Bilateral investment (IPPA) & taxation treaties (DTA) with
the UK.
• MOU with the UK re: ICT Sector.
• English language. Adult Literacy Rate: 99%
• Educated, highly skilled and trained English-speaking
workforce.
• Advanced education & training facilities.
• Enabling legislation based on UK Common Law.
• A strong democratic tradition.
• Base for many successful British firms: Unilever,
Glaxosmithkline, Carillion etc.
• Pro-investment business climate.
Investing in T&T?
10 Points to Note
• Regulated financial system.
• Good transportation & communication links.
• Low energy costs.
• Competitive raw material costs.
• Highly developed industrial sector as well as oil,
petrochemical & steel industries.
• Competitive fiscal incentives.
• Access to developed & emerging markets.
• Good infrastructure & support services for heavy &
secondary industries.
• Good living standards & communities for foreign
nationals & families.
T&T’s Economic Future:
Outlook
• FDI: US$6 B over the last 7 years up to 2009
• 17 years of positive economic growth @ 2009
• Projected growth 2011, 2 - 3%
• Low external & public debt burden
• Sovereign Fund: Heritage & Stabilisation Fund, US$3.3B
• IMF & Moody’s expressed confidence in economic
resilience (2010).
• Vibrant, diversifying energy sector. Not economy.
• Attract local & regional attention & international
investment: Summit & CHOGM. UK Investment Forum in
March via Commonwealth Business Council.
EVENTS 2011:
Multi-Sector Trade Mission-June 2011
• Trinidad & Tobago and Barbados
• Multi-Sector
• Activities for T&T:
– Briefing Meeting
– Programme for Visit Leaders
– Visit to TIC
– De-brief
• Contact Person:
– Brian Mountford - ITT Advisor , UK Trade & Investment Team -
Coventry & Warwickshire Chamber of Commerce, Oak Tree Court,
Binley Business Park, Harry Weston Road, Coventry, CV3 2UN
T: +44 024 7665 4283 | M: +44 07747 898406 | F: +44 024 7665
4266 | brianm@cw-chamber.co.uk
EVENTS 2011:
Trade & Investment Conference (TIC)
-June 2011
• The Caribbean’s Largest Multi-Sectoral “B 2 B”
• Facilitated US$400 M in trade deals
• Forum: Manufacturers, Suppliers, Exporters, Buyers,
Distributors, Wholesalers, Service Providers, Regulatory
Agencies, Financial Institutions, Investors & Consumers etc.
• 4 days of Business-to-Business
• 264 booths: 50% local, 20% regional, 30% international
• 500+ regional & international buyers
• 2,000 private & public sector decision makers
• 1,000 small business entrepreneurs
• 4,000 consumers
• www.tic-tt.com
EVENTS 2011:
TIC, Biz Opps 2009/2010
EXPORT OPPORTUNITIES: EXPORT OPPORTUNITIES:
• Agro-Chemicals & Tools • Food Boxes
• Agri-Chemicals, Seeds & Products • Food Broker
(Fertilizers etc.) • Food Service
• Alcohol • Floor Finishing Products
• Building Materials/Bathroom • Glass Making Machinery
Fixtures/Tools • Hardware Products
• Chemical Sealants • Hydraulic & Pneumatic Components
• Clothing, Shoes, Cosmetics, • Industrial Materials: Bulk –
Accessories & Handbags Aggregates, Metals etc.
• Construction Tools • IT Sourcing
• Electrical Tools • Medical Equipment, Supplies &
• Electronics Services
• Electronic Medical Hospital System • Nail Arts
• Epoxy Resin Flooring • Packaging Products (paper, plastics)
• Fabric • Painting Equipment
EVENTS 2011:
TIC, Biz Opps 2009/2010
EXPORT OPPORTUNITIES: AGENT/DISTRIBUTOR/JV:
• Pre-printed Polycoated Paper Rolls • Automotive Car Products
• Pharmaceutical & Personal Care • Beverages
• Real Estate/Sales/Services • Canned Foods
• Rubber & Self Inking Stamp Creation • Confectionery
Systems • Cosmetics
• Sanitary Hygiene Bins for Feminine • Crackers/Biscuits/Cereals
Products • General
• Stationery/Office Supplies • Electrical Wiring Material
• Steel products: Sheets, I beams etc. • Garbage Bags
• Weighing Equipment: Scales • Organic Products
• Welding Equipment • Processed Food
• Used Heavy Equipment & Parts • Recycling of Plastic Products
PARTNERSHIP: • Software: Business Development
• Advertising
• Translation
EVENTS 2011:
UK Education – Corporate Training,
Trade Mission & Exhibition, Nov 2011
• Education Sector – Corporate Training
• 2-day Briefing Meeting
• Opening Ceremony
• 1-day Meet the Buyer Event - Table Top Exhibition
• Cost: £561*
• Regional UKTI Presentations: Barbados, Jamaica +
Cuba
• Invitees 500 Buyers: Ministry of Education, Ministry of
Science, Technology & Tertiary Education, Universities,
Tertiary Institutions, Banks, Energy Companies,
Manufacturers etc.
EVENTS 2012:
UK Energy Trade Mission, Feb 2012
Trinidad & Tobago & Venezuela
• Trinidad & Tobago and Venezuela
• Energy & Energy Services
• Activities:
– Briefing Meeting
– Programme of meetings
– UK Energy Seminar: Procurement Presentations
– Site visits to Key Stakeholders: Ministry of Energy &
Energy Affairs, Industrial Estates, state companies etc.
– Visit to T&T Energy Conference Tradeshow
– De-brief
• Other options: Meet the Buyers - Table Top Exhibition
EVENTS 2012:
UK Security Trade Mission &
Exhibition, Nov 2012
•Briefing Meeting
•2 - day Security Seminar
•Opening Ceremony: Government, BHC, Military etc.
•1- day Meet the Buyer Event
•Regional UKTI Presentations: Barbados, Jamaica &
Cuba
•Cost: £561*
•Local & Regional Invitees (500): Ministry of National Security,
Police/Army/Cost Guard, Security Managers – Oil & Gas
Companies, Security Managers for Airports, Ports, Mass
Transportation, MNCs, Private Security Companies, Trade
Associations, Regional Security Bodies with Offices in T&T
etc.
What can we do for you?
UKTI Trinidad & Tobago
Market Entry Strategy/Approach:
• Scoping Visit
• Market Research: Product or Service Feasibility
• Investigate Procurement Process
• Identify Business Opportunities: Public & Private
Sector
• Programme Arranging/Meetings
• Host Events: Receptions, Product Launch, Dinners
etc.
• Network of Key Contacts
• Identify manufacturers, distributors, JV partners etc.
• OBJECTIVE Sector Expertise
• Trinidad & Tobago UKTI Services
• Regional UKTI Services
What UK companies say
about our services?
OMIS TIC Customer, May 2010
Dear Eric (British High Commissioner),
We felt at home and your staff welcomed us. Natalie,
Lazena and Bernadette are a credit to your team. Their
help was invaluable and as a result we had a very successful
show. We could return from the exhibition with confirmed
orders from Guyana, Trinidad, Barbados to name a few
islands. We are getting a great deal of interest on a daily
basis. For this, the credit must go to you and your team for
giving us the opportunity to introduce our products to so
many islands.
Kind regards,
Rami
What UK companies say
about our services?
UK Security Trade Mission & Exhibition, November 2010
Dear Natalie,
I just wanted to say a big thank you to you, Bernadette, Lazena and all
the team in Port of Spain. The week was so very well organised and
also good fun. The exhibition was a surprise with both the quantity and
quality of people attending exceeding our expectations. I fully
appreciate the time and effort that goes into organising such events –
well done to all.
Once again many, many thanks – I hope to see you all again on my next
visit to POS.
Yours sincerely,
Richard
Contact
Miss. Natalie A. Dookie
Head, Trade & Investment
British High Commission,
Port of Spain
natalie.dookie@fco.gov.uk
http://ukintt.fco.gov.uk/en
www.uktradeinvest.gov.uk
Tel: +1 868 350 0402
Fax: +1 868 350 0427