Trade Minister Leads Delegation To The 54th Meeting Of COTED

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Trade Minister Leads Delegation To The 54th Meeting Of COTED

A local delegation will be able to give its views, concerns and discuss the economic impact of the COVID-19 Pandemic, developments with respect to freight charges due to the Pandemic, as well as the impact of the Russia-Ukraine conflict on the regional economy. 

This will be done virtually on April 28th and 29th at the Fifty-Fourth Ministerial Session of the Council for Trade and Economic Development.

Minister of Trade and Industry, Paula Gopee Scoon, will lead Trinidad and Tobago’s delegation to participate in regional discussions on trade policy.

The adoption of a Mergers and Acquisitions Policy which would seek to prevent market dominance by firms in the CSME and ensure that consumers are not negatively impacted by monopolistic prices will also be addressed.

The digitization of a CARICOM Application Processing System which would simplify the application procedures for skilled nationals seeking to move to other CSME Member States to seek employment is also on the agenda.

Proposals will also be considered from the CARICOM Private Sector Organization for fast tracking the process of alteration of the Common External Tariff (duties charged on imports) to offer protection to the regional industries.

The intention is to improve competitiveness of regional products and improve companies’ ability to capture greater market share.

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