00:00Outgoing EU Ambassador Peter Cavendish is encouraging local businesses to expand their
00:17footprint by tapping into the European markets. Speaking in an interview with Inside Business,
00:23Ambassador Cavendish said European markets are now more accessible than ever thanks to modern
00:29air travel, digital connectivity and online procurement platforms like the EU's Tenders
00:35Electronic Daily or TED. TED publishes over 3,000 public procurement notices daily ranging from
00:43small contracts to multi-million euro deals. But I really wish to emphasize you know with the single
00:49market in Europe you've 148 million Europeans to sell to and a huge part of the high end of exports
00:58now it's either communicated on connectivity cables digitally or it's flown in planes you know
01:05people tend to think of trade as big volumes of shipping containers but this the other side is
01:10what goes on airplanes by airfreight or what is communicated across the connectivity of cables.
01:15He added that there are no visa requirements for short-term business travel and pointed to the
01:22advantage of direct flights from Trinidad and Tobago to Europe. You have got the ability to go and
01:28stay 90 days in any 180 day period no visa. I think Trinidad and businessmen and women should be
01:34more present at trade fairs in Europe. That's not such a strong tradition here. I see some trade fairs but I
01:41really would encourage that they consider going to the European trade fairs and you know you have an
01:45embassy network abroad perhaps they should seek guidance from the embassies but you know businessmen and
01:52women to grow they should meet other businessmen and women and trade fairs is something I would encourage
01:56people to look at more. The ambassador is also encouraging greater participation by TNT businesses
02:02at trade fairs across the continent. He believes the time has come for more confidence and ambition in
02:08the local private sector. So I think people need to be confident they need to plan for growth they need
02:16to talk to their bankers if they need more capital but they need to get out there and go and trade with
02:20other people. So I would say to the business community I think that they worry about certain
02:26parts of the international trading environment. Tariffs have come back where there were no tariffs before.
02:32The business community is very adaptable but in general we need to encourage the entrepreneurs,
02:38we need angel investors. Cavendish praised Trinidad and Tobago's creative edge particularly in
02:44services. A sector he believes will drive future wealth creation. You're very creative you're very
02:51adaptive people I mean you know you you have a fantastic carnival you are very you know in
02:58terms of food and these other products you're very good. Ambassador Cavendish says small countries
03:03like Trinidad and Tobago are no longer at the disadvantage they once were thanks to global digital
03:09connectivity. Fishana Pagu for Inside Business.
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