The Trade Mission of Trinidad and Tobago, under the leadership of Trade Minister, Mrs Paula Gopee-Scoon, has arrived in Ghana with the objective of discovering and evaluating business opportunities within the Ghanaian market for companies in Trinidad and Tobago.
The mission also aims to find potential raw materials and finished products for local producers in their homeland.
During a meeting with Ghana’s Minister for Trade and Industry, Mrs Paula Gopee-Scoon stated that the purpose of the visit was to identify potential investment opportunities in Ghanaian markets and establish strategic business and logistical contacts, including distributors, market agents, and companies. She emphasized that this strategy would enhance the visibility of Ghana’s business contacts to Trinidad and Tobago’s manufactured products.
She noted that between 2018 and 2022, Trinidad and Tobago maintained a positive trade balance with Ghana on averaged $15.2 million in exports to Ghana.
Regarding specific trade items, she highlighted that Trinidad and Tobago’s top exports to Ghana in 2022 included liquefied butanes, mechanical appliances, petroleum oils, gaskets, and pipes. Trinidad and Tobago’s top imports from Ghana for 2022 mainly comprised non-energy products such as cocoa butter, clothing, makeup, soap, and cassava farine.
Mrs Gopee-Scoon expressed a keen interest in building on Trinidad and Tobago’s trade complementaries with Ghana, as well as exploring opportunities to export the national instrument, the steelpan, and niche products such as locally produced alcoholic and non-alcoholic beverages and chocolates.
The Minister for Trade and Industry, Mr Kobina Tahir Hammond indicated that the visit holds promise for both countries, particularly in light of Trinidad and Tobago’s developed economy driven by significant discoveries of natural resources such as petroleum, oil, and gas.
He stated that the visit marks Trinidad and Tobago’s first venture into the African continent, with a delegation comprising about 50 members, including representatives from the economic team, the Association of Industries, Chamber of Commerce, and Manufacturers from Trinidad and Tobago.
He emphasised the positive impact of the visit, highlighting the signing of a Memorandum of Understanding (MoU) between the Tobago Manufacturers’ Association (TTMA) and the Association of Ghana Industries (AGI).
Regarding areas of collaboration, Mr Hammond highlighted ten-points agenda for industrial transformation and attractive incentives for investing in strategic sectors and growth poles during discussions on possible areas of cooperation with Trinidad and Tobago.
He indicated key areas for collaboration including One-District One Factory Initiatives, Development of Strategic Anchor Industries, SME Development through joint ventures, partnerships, and technical support, Development of Industrial Parks and Special Economic Zones (SEZ), and Export Diversification and Market Access Opportunities.
In addition to these areas, Mr Hammond proposed the establishment of a Joint Business Council as a platform to address current and potential opportunities between the two countries, facilitating investments and trade. He also expressed optimism about the potential collaborations and hoped for fruitful outcomes.
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