The petrochemicals and logistics sectors have been some of the most exposed industries in Latin America and across the world during the past 13 months. Both critical to the region’s economies, they faced substantial headwinds in the early months of the pandemic, such as closed borders and strict measures on industrial operations. For petrochemicals and chemical firms, the immediate impact has been…
Despite its relatively small size, Trinidad and Tobago is well placed to become a regional maritime and air transport hub. However, the country has faced challenges in improving its connections to both surrounding nations and wider global markets. On the domestic level, an increasingly diversified economy will require an upgrade of the country’s road infrastructure and internal connectivity in order…
Interview:Ashley Taylor What impact did foreign exchange (forex) variations have on Trinidad and Tobago’s export market? ASHLEY TAYLOR: These variations mainly stem from the challenge of foreign currency availability, which was largely brought about by the downturn in international oil prices. The issue was then exacerbated by T&T’s falling hydrocarbons production. As a result, the…
In recent years Trinidad and Tobago’s maritime industry has witnessed changes that are sending ripples around the globe. New regulations, new technologies and changing trade volumes are altering the game, and several indicators show the country stands to benefit. A report released in August 2019 by investment firm First Citizens Research & Analytics outlined how T&T is well placed to capitalise…
Across the globe the urban transportation sector is experiencing rapid expansion, driven by economic growth and a global demographic shift towards urbanisation. Politicians, urban planners and private sector actors are working together to find new solutions for reducing congestion and increasing the speed and efficiency of urban transport. However, unless proactive steps are taken to plan and invest…
The twin-island nation of Trinidad and Tobago is located in the southern end of the Caribbean, just off the coast of Venezuela. Its rich and varied heritage lends itself to a vibrant society and cuisine derived from an array of ethnicities and religions. On the back of elevated global oil prices, T&T has gone through a period of rapid economic expansion in recent decades, resulting in higher leve
Trinidad and Tobago’s small size and strategic location in the Caribbean makes it well positioned to serve as a regional transport and logistics hub. However, the country has faced challenges in improving its connections to both surrounding nations and wider global markets. On the domestic level, an increasingly diversified economy will require an upgrade of the country’s road infrastructure…
In the face of more stringent environmental rules on shipping fuel, Trinidad and Tobago is moving to position itself as a regional centre for liquefied natural gas (LNG) bunkering. On January 1, 2020 new International Maritime Organisation rules will come into effect, designed to reduce sulphur oxide emissions. The regulations will prohibit ships travelling outside designated emission control areas…
Interview:Garvin Medera What strategy is being employed to boost air traffic in Trinidad and Tobago, and the region? GARVIN MEDERA: We are looking forward to the ratification of a regional open skies agreement by CARICOM member states. This would effectively allow all airlines based in the community to establish flights within the jurisdiction without the need for additional permits or agreements. CARICOM-based…
The aviation sector is experiencing rapid growth worldwide, propelled by booming tourism industries, lower air fares and the push for greater connectivity in an increasingly globalised economy. Middle-class expansion has also spurred growth in air travel, as more people are able to afford flights for holidays or business-related travel. According to Boeing, commercial airlines experienced annual…
