Pundit Maniedeo Persad,
High Commissioner of the Republic of Trinidad and Tobago operating from
New Delhi had a discussion with the Office Bearers of the National Chamber
on May 6, 2008 at the Chamber Office on trade and investment related
matters of mutual interest. At the discussion H E Pundit Maniedeo invited
the Chamber President to visit Trinidad and Tobago to explore the business
opportunities there. Mr D Essuweren the Chamber President said that Sri
Lanka’s major exports to the Republic of Trinidad and Tobago include black
& green tea, food preparation of flour, meal & starch, wall tiles, sacks,
bags, plastic items and biscuits. The total value of Sri Lanka exports to
Trinidad and Tobago during the period from January to September, 2007 was
US$ 929,569. Sri Lanka’s major imports from Trinidad and Tobago include
aromatic bitters, copper-zinc base alloys (brass), other styrene polymers
in primary forms, staples in strips, other cloth and netting coated with
zinc, worn clothing and pneumatic tools. Value of total imports during the
period from January to September, 2007 was US$. 2,358. HE invited the
Chamber members to join the trade and investment delegation organized by
the High Commission to Trinidad and Tobago from 2 -7 June 2008.
Pundit Maniedeo Persad stated that there are many opportunities
available in the Republic of Trinidad and Tobago for Sri Lankan
businessmen under different preferential trading arrangements.
Trinidad and Tobago offers a host of investment incentives such as
allowing repatriation of profits, arbitration, bilateral investment
treaties & double taxation treaties which guarantee the protection of
investments. H E said that the country does not have negative lists,
quotas, surcharges and stamp duties. It has no price controls or foreign
exchange controls. Government’s incentives are documented in the
legislation. Foreign Investment Act ( - 100% foreign owned private
company, 30% cumulative shareholding in a public company), Fiscal
Incentives Act – Approved Enterprise, Customs Act – Customs Duty
Exemption, Tourism Development Act – Tax Holidays, Free Zones Act –
Withholding tax exemptions. It was highlighted that energy cost in
Trinidad and Tobago is the lowest in the world.
Copyright©Upali Newspapers Limited.
Hosted by
