Minister of Trade and Industry, Paula Gopee-Scoon, is leading a delegation from the private sector on a Trade Mission to Ghana from Tuesday to Saturday.
The Trade Mission, organised by the Trinidad and Tobago Manufacturers’ Association (TTMA) and ExporTT comprises 21 companies from the Food and Beverage, Chemical and Household, Construction and Apparel and Textiles and Financial services sector.
Also on the Trade Mission are representatives from the Tobago House of Assembly (THA) and trade-related state agencies including the Export Import Bank of Trinidad and Tobago (EximBank) and NEDCO.
The Trade Mission to Ghana aims to:
● Determine business opportunities within the Ghanaian market for Trinidad and Tobago companies;
● Source possible raw materials and finished products for local producers in Trinidad and Tobago;
● Look at possible investment opportunities in the Ghanaian markets;
● Take strategic business and logistical contacts (e.g. distributors, market agents and companies)
● Increase awareness of Ghana’s business contacts to Trinidad and Tobago’s manufactured products.
According to the Ministry of Trade and Industry, during 2018 to 2022, Trinidad and Tobago maintained a positive trade balance with Ghana. During this period, Trinidad and Tobago averaged $15.2 million in exports to Ghana and TT$0.6 million in imports annually. In 2022, Trinidad and Tobago’s trade balance with Ghana increased by 24.7%, moving from a surplus of TT$23.6 million in 2018 to a surplus of TT$29.5 million in 2022.
In 2022, Trinidad and Tobago’s top exports to Ghana included liquefied butanes, mechanical appliances, petroleum oils, gaskets and pipes. Trinidad and Tobago’s top imports from Ghana for 2022 included mainly non-energy products such as cocoa butter, clothing, make-up, soap, and cassava farine.
The Trade Mission will include several bilateral discussions and business to business meetings and a Doing Business Seminar. The Seminar will provide an overview of doing business in Ghana, while the B2B sessions will allow the private sector the opportunity to engage in discussions with companies in Ghana and provide opportunities for the initiation and continuation of trading relations.