---Trinidad and Tobago’s delegation of state leaders attending Shanghai
Trade & Investment Promotion Meeting and achieving $100,000,000 investment
Shanghai, China, following the success of Beijing Tourism, Trade & Investment Promotion Meeting held on April 9 2010, the delegation of state leaders and business representatives from the Republic of Trinidad and Tobago of Caribbean region attended Shanghai Trade & Investment Promotion Meeting on September 27th (Monday). Trinidad delegation aimed to introduce the nation’s strong competitive advantages and optimized investment environment, to attract Chinese entrepreneurs and local governments to develop Trinidad & Tobago’s market. At the same time, they seeked to enhance economic, trade cooperation with China and to increase their exports to China. Mr. Stephen Cadiz, Minister of Trinidad & Tobago Trade and Industry stated on the press conference that Trinidad & Tobago had already achieved $100,000,000 investment through Shanghai’s Promotion Meeting.
The theme of this trade and investment promotion meeting is "Win in Trinidad and Tobago". It is a closing activity for Trinidad and Tobago’s Culture Week at Shanghai Expo. Besides Mr. Stephen Cadiz, the other state leader and influential representatives are Mr. Ernest Littles, President of Trinidad and Tobago Tourism Development Co. Ltd., Mr. Carl Francis, Permanent Secretary of Trinidad and Tobago Trade and Industry and Mr. Bernard Michael, Executive Director of Tamana InTech Park. They started by sharing the stories between Trinidad & Tobago and China. It dates back to 1806 that the first Chinese immigrants arrived in Trinidad and Tobago. The two nations established formal diplomatic relations in 1974. Since then, both countries’ governments have attached importance to improve their economic and trade relations. In actuality, China export volume to Trinidad and Tobago is around 1.5 billion US dollars, while Trinidad and Tobago export to China is merely 40 million US dollars and concentrated in the energy sector, including LNG, i.e. liquefied natural gas, natural asphalt. Part of LNG is used for building Beijing’s 2008 Olympic stadiums and 2010 Shanghai World Expo pavilions and venues.
Then, they focus on introducing that Trinidad and Tobago government is intent on attracting Chinese investment and entrepreneurs to some specific sectors. Oil, gas, asphalt and tourism are the most preferred industries. High-tech sector, involving high value-added production industry and manufacturing industry, is considered as the second most preferred investment sector. At present, Trinidad and Tobago is committed to transforming the cheap energy economy and infrastructure, developing a knowledge-based economy, further creating a diversified industrial structure. Therefore, the Government encourages foreign investment to give priority to non-energy sector, including information & communication technology, high value-added manufacturing, downstream energy, tourism, financial services, maritime shipping, leisure marine, art, film & entertainment, and food & beverage, etc.
Tamana InTech Park is Trinida