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Minister of Trade, Investment and Tourism, Satyakama Maharaj, says there are plans to boost this country’s exports by US$5 billion over the next five years. Speaking at the Trinidad and Tobago Manufacturers’ Association (TTMA) President’s Dinner at the Hyatt Regency in Port of Spain, Maharaj said the initiative is part of the Government’s broader strategy to drive investment and strengthen the country’s export base. “We are aiming for export growth of US$2 billion in two years and US$5 billion in five years,” Maharaj said “As it relates to investments, we are aiming for US$3 billion in new investments over the next two years and US$9 billion over five years, as well as the creation of 3,000 jobs,” he said, Maharaj said the targets are attainable through stronger collaboration with the manufacturing sector, which he identified as a key driver of economic diversification. According to Maharaj, a weekly reporting and performance management system has been implemented within the ministry, with active participation from the Private Sector Organisation of T&T (PSOTT). “This system ensures accountability, continuous improvement and measurable progress, week by week, with tangible results already evident and transformation on the way,” he said. Maharaj explained that PSOTT was his initiative to foster genuine partnership with the private sector. “It puts together all the chambers of commerce, all the financial institutions, all the law firms, all the professional associations, and even the embassies. It’s simple but powerful to reduce fragmentation, deepen collaboration and create a unified voice that drives national development.” He said the ministry and the private sector are working together to strengthen the non-energy side of the economy and pledged continued collaboration with the TTMA to make Trinidad and Tobago a leading regional hub for trade and investment. Maharaj also announced plans to redevelop the Caroni Racing Complex into a world-class convention centre. “Once completed, this facility will provide a premium venue for TTMA events as well as other local and regional trade shows, forums and networking activities across the manufacturing and business community,” he said. Maharaj hailed the manufacturing sector’s contribution to employment creation, foreign exchange earnings and investor confidence in the country. He added that the ministry remains “fully committed to supporting the growth and competitiveness of the manufacturing sector through targeted incentives, trade missions and investment facilitation”. Maharaj also revealed that before the end of 2025, the Government will launch a national campaign to promote locally made goods. “This is a strategy designed to reduce imports, conserve foreign exchange and strengthen domestic supply chains,” he said. He urged manufacturers to continue partnering with the Government to achieve these ambitious targets. “The Government believes that this current momentum is just the start. We have laid out ambitious targets that require every manufacturer in this room to be a partner dedicated to advancing our trade and investment vision.” —Vishanna Phagoo
