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  • 1 year ago
The Trinidad and Tobago Manufacturers' Association is welcoming the news that an injunction has been granted against the SWWTU, bringing an end to weeks of Port workers' protest. Meantime the TTMA says it is positioning its members to earn more forex in 2025, in the midst of what it calls a forex shortfall in supply and distribution. Rynessa Cutting has more from the TTMA Dinner and Awards.
Transcript
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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