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Trinidad and Tobago's manufacturing sector has been praised for its resilience, regional solidarity and contribution to national development. TT Manufacturers’ Association (TTMA) president Dale Parson said the industry now employs more than 60,000 people and remains a key stabiliser for the economy. Speaking at the TTMA President’s Dinner and Awards at the Hyatt Regency on November 4, Parson also disclosed that more than $5 million in goods and cash was raised within 24 hours to support Jamaica’s recovery efforts following Hurricane Melissa. He said the support was mobilised through a partnership between the TTMA and the government. Recognising industry excellence The annual dinner and award ceremony is held to recognise excellence in the sector, honour milestone achievements and acknowledge outstanding corporate contributions. The event, Parson said, also provides a platform to look ahead at the future of the industry as it undergoes transformation driven by technology, competitiveness and export readiness. He noted, despite volatility in the global business environment, the sector has remained resilient, maintaining production capacity and employment levels amid rising costs, supply-chain challenges and shifting international market conditions. Highlighting the sector’s economic footprint, Parson said manufacturing accounts for roughly 18 per cent of TT’s Gross Domestic Product. He emphasised manufacturers are the second-largest employer after the state, and their operations support families, communities and long-term economic stability. While acknowledging the importance of large manufacturers, Parson stressed small and medium-sized enterprises (SMEs) remain the backbone of the industry, accounting for nearly 65 per cent of manufacturers nationwide. He said the TTMA is committed to developing SMEs into net export earners capable of generating foreign exchange, reducing reliance on government assistance and strengthening future economic resilience. Parson outlined initiatives to boost SME visibility and export readiness, including participation in the Trade and Investment Convention, pop-up retail initiatives, international trade missions and ongoing collaboration with the Eximbank. SMEs, he said, are central to shaping the country’s economic future and building a more self-sustaining Caricom region. Looking ahead, Parson confirmed the TTMA has submitted a formal proposal for the redevelopment of a portion of the abandoned Caroni Racing Complex to construct a world-class convention centre under the association. He anticipates development could begin in 2026. Parson said the project would position TT as a regional trade and export platform and advance the long-term goal of establishing the country as a manufacturing hub for the Caribbean. He added that alignment between the TTMA and the Ministry of Trade will support diversification of the non-energy manufacturing base and expand opportunities across Caricom markets. He cautioned the path to accelerated growth will require endurance, discipline and sustained effort, and pledged that the TTMA will continue to work with authorities to create a business environment that supports long-term sector sustainability. Guyana urges deeper bilateral collaboration Delivering the feature address, president of the Guyana Manufacturing and Services Association (GMSA) Rafeek Khan called for stronger collaboration between Guyana and TT, warning both countries risk losing major opportunities if longstanding trade barriers are not resolved. Khan said while the partnership between the TTMA and GMSA has shown progress, more deliberate action is needed to remove the obstacles hindering trade and cross-border investment. With Guyana undergoing rapid economic expansion and prioritising non-oil sector development, he said new opportunities have emerged for regional businesses. He urged the private sectors of both countries to shift from competition to collaboration, emphasising unity of purpose is critical if the region is to benefit from the current economic momentum. He said Guyana's government has opened the door to greater private-sector participation in large-scale projects, encouraging consortium-based investment to meet growing demand for goods and services. The private sector, he said, must now lead, with government acting as facilitator. Khan identified key issues affecting trade efficiency, including the need to harmonise trade laws such as phytosanitary and packaging standards, address port congestion, accelerate development of a deep-water port in Guyana, improve access to foreign exchange and involve more stakeholders in bilateral trade negotiations. He proposed the establishment of a TT and Guyana working group to fast-track collaboration, urging both countries to build mutual trust and move away from protectionist policies that limit regional development. Government targets US$5b export growth Trade, Investment and Tourism Minister Satyakama Maharaj commended manufacturers as "risk-takers and builders" who continue to drive economic diversification and growth. He described the sector as a key pillar of the non-energy economy and a source of national pride, noting the expansion of local brands across regional and international markets. Maharaj said the government recognises the sector’s role in job creation, foreign-exchange earnings and economic stability. He reported that manufacturing – including petroleum and chemical products – contributed an estimated US$10.6 billion last year, representing a significant increase over 2023. The TTMA also recorded more than 80 reinvestments in non-energy manufacturing valued at approximately $1.25 billion over the past year. He said the ministry remains committed to supporting sector growth through incentives, trade missions and investment facilitation to enhance competitiveness in local and export markets. Maharaj announced a national "buy local" campaign to be launched before the end of 2025 aimed at reducing imports, preserving foreign exchange and strengthening domestic supply chains. He outlined aggressive growth targets, including US$2 billion in export expansion within two years and US$5 billion within five years, alongside US$3 billion in new investments over the next two years and US$9 billion over five years, with the creation of 3,000 jobs. Achieving these goals, he said, requires strong public-private collaboration. Maharaj said he has implemented a performance-management framework in the ministry to enhance delivery, including weekly executive reporting. He also announced the establishment of the Private Sector Organisation of TT to unify the business community across chambers, financial institutions, professional bodies and state agencies to reduce fragmentation and improve competitiveness. He said the government’s planned redevelopment of the Caroni Racing Complex into a world-class convention centre will provide a premier venue for trade shows, industry events and investment promotion, reinforcing the administration’s commitment to the sector. Some of the major winners of the evening included Blue Waters, which took home both the Trade Mission Champion and Excellence in Leadership awards, while Fresh Start Ltd was named Innovator of the Year. ASA Enterprises Ltd received recognition as Exporter of the Year/New Market Entrant, with Creamery Novelty Ltd honoured as Exporter of the Year – Medium, and Angostura Ltd as Exporter of the Year – Large. The Lifetime Achievement Award was presented to Mervyn Assant, while Ramps Logistics was recognised as Supplier of Services and Witco was named Green Manufacturer of the Year. Manufacturing accolades spanned categories from micro to large, with Half Moon Ice Cream named Manufacturer of the Year – Micro, Christal Ltd winning Manufacturer of the Year – Small for a third consecutive year, Novo Farm Ltd taking Manufacturer of the Year – Medium, and Angostura Ltd again recognised as Manufacturer of the Year – Large.
