00:00There was much to celebrate at the TTMA president's dinner in the wards last evening as news broke
00:06that the Port Authority had secured an injunction against the Seamen and Waterfront Workers
00:11Trade Union.
00:13This is good news. Containers will move for the Christmas season and therefore the consumers
00:18in Trinidad and Tobago will be able to get their goods and services and because of this
00:24we will not have unnecessary delays, high damage and rent charges and we can maintain
00:30a modicum of decent prices throughout the Christmas season. I want to congratulate the
00:35Port and the Ministry of Works and Transport and the whole of the government for stepping
00:41in and taking decisive action.
00:43The TTMA president also weighed in on the other major bugbear for businesses at this
00:47time, forex supply and distribution.
00:51This is a very complex issue and must be considered carefully as any changes in the
00:59management of our currency and the distribution of foreign exchange can have side effects
01:06that can be worse than the problem we are trying to solve.
01:09The TTMA is ready to consult with the Ministry of Finance and other government agencies and
01:16we are always prepared to collaborate with the other business chambers so that we can
01:20put our brains together and bring a proper resolution to this issue.
01:26But the TTMA says it has undertaken a series of new ventures which will better position
01:31manufacturers to earn more foreign exchange.
01:35Very first by any business support organisation, trade mission on the seas, where business
01:43persons will board a cruise ship in March and will land and do business meetings in
01:49several countries.
01:51You may ask why are we doing all this?
01:54And I will say it again, it's almost an evangelical calling for us at the TTMA to position businesses
02:04in the realm where they can earn their own foreign exchange and not be totally dependent
02:11on the commercial banks and the government for FX.
02:16Also speaking at the event was Acting Prime Minister Stuart Young who reaffirmed the government's
02:21commitment to and support of the trade sector as he called for a collective approach to
02:26manufacturing in the region.
02:28This potential is not limited to us here in Trinidad and Tobago alone.
02:33I dare say that we as CARICOM must work together to negotiate as a block on the global manufacturing
02:42stage.
02:43We as CARICOM will be stronger, stronger together as we compete globally.
02:50Renessa Cutting, TV6 News.
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