PORT-OF-SPAIN, Trinidad and Tobago (Wednesday, July 13, 2022) — Senator Paula Gopee-Scoon, Minister of Trade and Industry, held a work meeting with the Ambassador of Mexico, Victor Hugo Morales, today, with the aim of defining a roadmap to increase trade and investment between the two countries.
Minister Gopee-Scoon and Ambassador Morales agreed to arrange a Mexican Trade Mission to Trinidad and Tobago, in early September, as a concrete action to strengthen the business ties between both nations.
In relation to investment, they agreed to schedule a meeting, between InvestTT Limited and Global Economic Impulse of Mexico, to identify areas to increase the presence of capital between both countries, and share good practices for the promotion of investments, based on the Agreement of Investment Promotion and Reciprocal Protection APPRI, signed between the nations in 2007.
Ambassador Morales indicated that 21 Trinidadian products can be exported to Mexico free of tariffs, an exemption that will be in force until May 2023, for which he urged Trinidadian businesses to take advantage of.
Mexico is Trinidad and Tobago’s 8th trading partner and aspires to be among the top five partners in the short term and will enhance the advantage of its proximity to being a Caribbean country.
Both countries agree that agricultural products and manufactured goods, as well as industrial services, have the potential to increase current trade.
Ambassador Morales also highlighted that he is promoting the Pacific Alliance (Chile-Colombia-Mexico-Peru) as a relevant partner of Trinidad and Tobago.