Country Profile
From The Report: Trinidad & Tobago 2015
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Discovered by the Spanish at the end of the 15th century, Trinidad was seized by the British 300 years later, while the smaller island of Tobago was fought over by the Spanish, British, French and Dutch. With uninterrupted democratic rule since independence in 1962, T&T is today characterised by strong democratic traditions, an ethnically diverse population, and a vibrant local cultural and sporting life. Comparatively wealthy and economically diverse with active finance, manufacturing and transport sectors, T&T is also the largest Caribbean oil producer and the world’s sixth-largest exporter of LNG. While Tobago is a haven for tourists, with a laid-back atmosphere, Trinidad is famous for mixing business – particularly in the oil and gas sector – with pleasure, most famously in the form of the annual carnival. This chapter contains interviews with Kamla Persad-Bissessar, Prime Minister; Irwin LaRocque, Secretary-General, CARICOM; and Cecilia Álvarez-Correa, Colombian Minister of Trade, Industry and Tourism.

Articles from this Chapter

Overview

Islands in the sun: Diversification advances in the region’s largest energy producer
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Comparatively wealthy and economically diverse with active finance, manufacturing and transport sectors, Trinidad and Tobago is also the largest Caribbean oil producer and the world’s sixth-largest exporter of liquefied natural gas (LNG). It has an ethnically diverse population, strong democratic traditions, and a vibrant local cultural and sporting life. Trinidad was discovered by the Spanish at the end of the 15th century and seized by the British 300 years later, while the smaller island of…

Overview

General elections are set to be held in Trinidad and Tobago in autumn 2015
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Trinidad and Tobago can be described as an imperfect but vibrant democracy. While there are different assessments of the strength of its institutions, there is unanimity on the value of its democratic tradition. It has had uninterrupted democratic rule since independence in 1962. T&T’s reputation for free and robust debate will be on display in 2015, a general election year. At stake are 41 seats in the House of Representatives. On June 13, 2015 the Prime Minister Kamla Persad-Bissessar announced…

Interview

OBG talks to Prime Minister Kamla Persad-Bissessar
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Interview:Prime Minister Kamla Persad-Bissessar Which structural adjustments to the economy are priorities in light of low oil and gas prices? KAMLA PERSAD-BISSESSAR: The economic outlook for Trinidad and Tobago is positive, even in the face of volatility in the global energy sector. This is largely because of the reforms adopted and the discipline with which we have carried through with these reforms to reverse economic decline, bring stability, restore confidence and foster economic growth.…

Interview

Irwin LaRocque, Secretary-General, CARICOM: Interview
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Interview:Irwin LaRocque What actions are being taken to remove logistical and institutional barriers to regional trade? IRWIN LAROCQUE: We are aware that we need to increase regional trade in goods from its current level of approximately 16% of the community’s total trade, excluding substantial trade in services. An Inter-American Development Bank study indicates that trade in goods could be doubled by addressing trade facilitation measures and transport. One of the measures we are taking…

Analysis

A regional leader: By many metrics, the economy fares better than those of its neighbours
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Although in many ways similar to other Caribbean nations, Trinidad and Tobago has a number of characteristics that clearly set it apart from its neighbours. Within the region, T&T shares membership in a number of both regional and international organisations. T&T was one of the four founding members of the regional CARICOM bloc, which has since expanded to include a total of 15 member states, as well as five associate members. This organisation aims to help coordinate the interests of its…

Interview

Cecilia Álvarez-Correa, Colombian Minister of Trade, Industry and Tourism: Interview
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Interview:Cecilia Álvarez-Correa How can the economic links between Colombia and the countries of CARICOM be strengthened? CECILIA ÁLVAREZ-CORREA: The 15 members of CARICOM are characterised by dynamic economies and high incomes relative to the averages for Latin America. The economic and political relations that these countries enjoy with Colombia are excellent. However, strengthening the current legal framework for trade and investment and adapting these regulations to the reality of…