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Paragraphs Related to the Theme Paragraphs VII Summit
Reports
Date:  1/21/2011 
In the year 2009 the contribution of trade to the economy and the trade performance of Trinidad and Tobago must be highlighted in the context of a multilateral trading arena. During the period 2000-2008, Trinidad and Tobago’s domestic merchandise exports had increased by approximately 330% from TT$26.4Bn to TT$113.5Bn. As a result, overseas trade has facilitated the promotion of growth, development and employment in the economy coupled with the proliferation of a large number of small and medium-sized companies. In 2004, domestic exports were TT$40.0Bn or 47.8% of the Gross Domestic Product (GDP) however, by 2008, domestic exports contributions rose to 74.6% of a GDP.

There are efforts to expand the existing CARICOM-Costa Rica Free Trade Agreement to include El Salvador; Guatemala; Honduras; Nicaragua (CA4); and Panama. This will help local firms gain the experience required in accessing international markets and thereby build the requisite competencies to prepare further for heightened global competition.
Paragraphs: 14 Paragraphs VII Summit: -

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