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  • 4 months ago
As he prepares to leave office, the European Union's Ambassador to Trinidad and Tobago is encouraging local entrepreneurs to look beyond regional borders. Peter Cavendish says local businesses should explore the vast export potential in Europe, especially with the support of new digital tools and easier access to the European market.
Transcript
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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