Wednesday, May 17, 2017

2017-An opportunity for transformation*

THOUGH many of the reviews from major institutions around the world point to slower global economic growth and greater uncertainty, the T&T Chamber believes that Trinidad and Tobago is resilient enough to weather the storm and create traction for a return to sustainability in the coming years.
Achieving this will involve a frank analysis of the challenges that confront us and a common determination of strategies that will be beneficial to the country, irrespective of political proclivities, ethnic considerations and social strata.
At present, Trinidad and Tobago remains an economy that is largely import-dependent for everyday consumer goods—food, medicaments, building materials, clothing, etc.
While sourcing foreign exchange to meet these needs poses a serious challenge for businesses, some relief is expected in the latter part of 2017, when a major gas exploration project begins its yield.
The T&T Chamber recognises however that Trinidad and Tobago now stands at a critical juncture where the culture and economy must be transformed in order to survive in what has been described as a “new normal”. 

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