A significant step forward for trade and investment relations between Trinidad and Tobago, Guyana and CARICOM as a whole, this is how the Trinidad and Tobago Chamber of Industry and Commerce describes the recent signing of a Memorandum of Understanding by both nations.
The MOU is targeted at agriculture, food security, energy, education, national security and tourism.
The Chamber says it comes at a critical time when the world is facing threats to global supply chains, extreme weather events, security issues and rising costs of living.
In a media release on Monday the Chamber said as a private sector organization that supports regional trade and investment, it recognize that one of the major pain points that must be addressed is non-tariff barriers.
The Chamber said it welcomes an assessment of identified NTBs and look forward to the findings as it moves towards the realization of the objectives of the CARICOM Single Market and Economy.
The Chamber said it is pleased that a high-level Commission to oversee the implementation of the MOU will be established and will include representatives of both the public and the private sector.
It said the global trends that are presenting challenges to the region are clear and it now has an opportunity to work together for the sustainability of the CARICOM economies.
The T&T Chamber said it stands ready to support any initiatives in making this a reality.
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