CONTACT Magazine (Vol.18 No.3 – December 2018)

Vol.18 No.3 – December 2018

The Voice of Business in Trinidad & Tobago

Looking Outwards The art and science of exporting Champion exporter: SM Jaleel Export markets | Trade deals Non-tariff barriers | Support agencies

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Vol.18 No.3 – December 2018

Contents

ON THE COVER Directors of SM Jaleel: Dr Mikaeel Mohammed (seated) and Eesa Mohammed, Vice President, Marketing (Photo courtesy TTCIC)

07 A note from the editor

Natalie Dookie introduces this issue of CONTACT

08

SM Jaleel: global exporter

Kalifa Sarah Clyne profiles the winner of the T&T Chamber’s prestigious annual award and its global brands

SPECIAL CONTACT SURVEY: LOOKING OUTWARDS

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The will to export Joel Henry sits down with the CEO of exporTT to talk about the agency’s activities and plans, and detects a new energy in the national export drive

25

Breaking into Europe

29

Who do we have trade deals with?

32

Non-tariff barriers – the exporter’s nightmare

20

Know your export markets

Every overseas market has its own characteristics. Lisa Douglas-Paul looks at our main target areas and what to expect from each one

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Trinidad and Tobago Chamber of Industry and Commerce

The European Union is a particularly complicated market, with 28 countries (soon to be 27) involved. The regional agency Caribbean Export provides an introduction

Trinidad and Tobago has negotiated trade agreements with many of its trading partners. The Ministry of Trade and Industry sets out the possibilities of each

Usha Samsundar explains how even the best-prepared exporter can be ambushed by unexpected obstacles

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Vol.18 No.3 – December 2018

The Voice of Business in Trinidad & ToBago

Published by

The Trinidad and Tobago Chamber of Industry and Commerce

Looking Outwards The art and science of exporting Champion exporter: SM Jaleel Export markets | Trade deals Non-tariff barriers | Support agencies

44

The economic outlook

Prospects for Trinidad and Tobago, the Caribbean, and the global economy in the year ahead

46

Energy update

48

Welcome to new members

34

Where to go for help?

Columbus Circle, Westmoorings, Port of Spain, Trinidad and Tobago PO Box 499, Port of Spain • Tel.: (868) 637-6966 • Fax: (868) 622-4475 Email: chamber@chamber.org.tt • Website: www.chamber.org.tt

Tobago Division: ANSA McAL Building, Milford Road, Scarborough, Tobago Tel.: (868) 639-2669 • Fax: (868) 639-2669 Email: tobagochamber@chamber.org.tt

The state of the energy sector in figures

A checklist of private sector and government agencies which can supply export guidance, information and documents

Produced for the Chamber by MEP Publishers (Media & Editorial Projects Ltd)

6 Prospect Avenue, Maraval, Port of Spain, Trinidad and Tobago Tel.: 622-3821 • Fax: 628-0639 Email: info@meppublishers.com • Website: www.meppublishers.com

Editor Natalie Dookie Consulting editor Jeremy Taylor Online editor Caroline Taylor General manager Halcyon Salazar Page layout & design Bridget van Dongen Advertising Evelyn Chung, Tracy Farrag, Mark-Jason Ramesar Production Jacqueline Smith Editorial assistant Shelly Inniss DISCLAIMER Opinions expressed in Contact are those of the authors, and not necessarily of the Trinidad and Tobago Chamber of Industry and Commerce or its partners or associates.

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The voice of experience Six successful exporters – old and new, large and small – tell their stories to Natalie Dookie

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CONTACT is published quarterly by the Trinidad and Tobago Chamber of Industry and Commerce (TTCIC). It is available online at www.chamber.org.tt/contact-magazine. © 2018 TTCIC. All rights reserved. No part of this magazine may be reproduced in any form without the written permission of the publisher.

Trinidad and Tobago Chamber of Industry and Commerce

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A note from the editor

E

xports play a crucial role in Trinidad and Tobago’s economy. They influence economic growth, employment, and our balance of payments. They earn essential foreign exchange. As we adjust to a low-price energy environment, there needs to be an even greater focus on growth opportunities for exports.

We are the largest oil and natural gas producer in the Caribbean, and our hydrocarbon sector has dominated our exports. But in recent years we have become more diversified, with a greater reliance on services.

There are several factors which determine our level of exports: competitiveness, quality, value added, the exchange rate, productivity, and the economic prospects of our export markets. We can work towards raising this level through private sector innovation, reducing tariff and non-tariff barriers, and by pursuing supply-side policies to increase our competitiveness. Exporting provides real benefits for firms, including longer-term security, by spreading risk over a wider customer base – and of course increased sales and profits.

In this issue of CONTACT, we are Looking Outwards In this issue of CONTACT, we are Looking Outwards. Our team of experts from Trinidad and Tobago and the Caribbean provides guidance on export planning, and identifies where and how to access support locally. ExporTT’s CEO sets the stage by charting the size of our exports, what we export, where to, and what are the most promising opportunities in 2018. Trade agreements can be complex, but the Ministry of Trade and Industry helps us to penetrate the legal jargon and translate it into competitive advantage. Exporters are often presented with unexpected market challenges, but one of our trade specialists outlines how to overcome non-tariff barriers.

Which market conditions present key opportunities for local exporters, in which country and in what sector? The Chamber’s Trade & Research Economist guides us through their recommendations. Learn from organisations that are exporting successfully, and be inspired as they share their journey.

Exports have a major impact on our economy. They are one of the biggest determinants of Trinidad and Tobago’s economic performance. Growth in exports can also advance our domestic economy by creating a knock-on effect for related industries. Recognising the importance of this for our future sustainability, we look forward to your feedback: share your export experience, tell us if you agree with our experts’ advice and recommendations, and what else you would like to see us add to the conversation.

Editor

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Trinidad and Tobago Chamber of Industry and Commerce

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looking outwards

SM Jaleel: global exporter This year’s prestigious Chamber award “Internationally Known … T&T Owned”, sponsored since inception by First Citizens, was won by a company with extraordinary international reach WORDS By: Kalifa Sarah Clyne photos courtesy: sm jaleel

A

fter almost a century in business, SM Jaleel is a proud locally-owned player with a strong presence on the global stage. It is the largest manufacturer of non-alcoholic drinks in the anglophone Caribbean.

Its many brands – fruit juices, soft drinks, flavoured water, energy drinks – are distributed around the world by nearly 100 distributors, and can be found in over 30,000 wholesale and retail stores, including Walmart in the United States.

The company manufactures its own PET containers, a technology it pioneered in the Caribbean in the 1980s. Its staff has grown from 25 to 1,378 located in ten different countries in five continents.

Evolution The family-owned business of SM Jaleel was founded in 1924 by a young visionary entrepreneur, Sheik Mohammed Jaleel. He used to make the company’s first product, Jaleel Beverages, under his house in San Fernando, and marketed it to clients from a traditional horse and cart.

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Trinidad and Tobago Chamber of Industry and Commerce

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Jaleel Beverages were followed by a string of other brands. Wonder in the late 1930s, Applette, Joe Louis Punch (after the famous boxer whom Jaleel brought to Trinidad), Red Spot. Dixi Cola successfully expanded the portfolio in 1968. By the time Red Spot hit the market, SM Jaleel was operating ten trucks and an automated production line. The company could produce about 90 cases an hour, and a case of sweet drink cost 24 cents.

The export journey began in the 1950s, when Jaleel built a factory in Grenada, run by his son Zaid, to produce

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The first product, Jaleel Beverages, was made under the founder’s house in San Fernando, and marketed to clients from a traditional horse and cart Trinidad and Tobago Chamber of Industry and Commerce

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looking outwards

A new generation took over the business and revived both the founder’s vision and the company’s fortunes Red Spot in glass bottles. The company’s fortunes dipped somewhat from the late 1960s, and Sheik Mohammed Jaleel died in 1977, after selling the business to Shaffikool Mohammed, the husband of his daughter Salaha.

So a new generation took over the business and revived both the founder’s vision and the company’s fortunes.

Aleem Mohammed, Jaleel’s grandson, joined the company and rose to become chairman. The business moved to Otaheite Industrial Estate, where it is still headquartered today. New products were introduced – Pear D, Cole Cold,

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Trinidad and Tobago Chamber of Industry and Commerce

Fruta, the large bottle, Caribbean Cool.

The company earned franchises from well-known international companies – 7-UP, Capri Sun, Cadbury Schweppes.

By 1988, market share had grown to 30%.

The first export shipments had been made from Trinidad and Tobago in 1983. The main export markets were the UK, the USA, Canada, Jamaica, Antigua, Dominica, and Barbados. SM Jaleel began awarding its own franchises: third party manufacturers produced and distributed the Caribbean Cool brand, for instance, in Canada, the USA,

England, Scotland and Malaysia.

The business grew and grew. It continued to produce new brands, notably Chubby (1993) in its specially designed chubby bottle aimed at children. The company started winning awards for exports and innovation.

Busta followed, and Viva flavoured sparkling water. With the help of subsidiaries, joint ventures and franchisees, SM Jaleel was doing good business everywhere from Barbados, Jamaica and Guyana to Haiti, Mexico and Brazil, Guatemala and North America.

As the brand list continued to swell, the company added Fruta Kool Kidz, Oasis bottled water, Caribbean Cool drinks, 1-litre Fruta, and Turbo energy drinks. It acquired the franchise for Tampico. It set up a plant in Saudi Arabia to export to the Middle East, and another in Durban to market Chubby in South Africa. It acquired fruit juice concentrate manufacturing companies in Trinidad and Jamaica, adding Trinidad Reconstituted juices and Juciful juices to the portfolio. These factories allowed

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vertical integration by buying fruit from local farmers and converting it into frozen orange and grapefruit juice concentrate for use throughout the year.

The export team Today, SM Jaleel’s Caribbean sales export team is led by Clint Villafana, Vice President of Export Sales (Caribbean and Third Party). It includes Amir Hosein and Aaron Logie. At an extra-regional level, Brian Erdelyi (Chief Revenue Officer, based in Canada) leads a team supported

by Suneeta Hosein and Michelle Grant.

The team is focused on the company’s continued growth and market expansion.

In an interview, Clint Villafana confirmed that working with his team has been a very rewarding experience.

They were instrumental in the growth of the department, and in the expansion of the company’s footprint into more new markets in recent years, such as Ghana, Puerto Rico, Holland, Bonaire, Belize, and Aruba. “They have been key in the expansion of our existing SMJ portfolio within existing markets, and increasing overall market share for the company’s brands.”

Part of SM Jaleel’s success is surely due to the judicious selection of export models and products,

based on careful market research. A franchise agreement? A new affiliate or subsidiary? Exclusive agreement with an experienced distributor?

Outsourced production? The decision, Villafana explained, depends partly on the size of the country and its distance from Trinidad, which will affect shipping costs. “We perform a value chain analysis to determine the best approach.”

Local costs matter too. “Markets have different duty structures,” Villafana pointed out, “and as such can make our products uncompetitive due to price sensitivity. To address this in the Organisation of Eastern Caribbean States (OECS), many years ago we introduced a production facility in St Lucia, which allows us to benefit from a lower duty structure since we are selling from a Less Developed Country (LDC).”

Villafana continued: “Markets have different regulatory requirements in terms of labels and ingredients, so in entering markets we have had to work closely with our Research and Development team to customise some of our existing brands to meet these requirements.”

SM Jaleel makes good use of the Caricom free trade agreement, and is now expanding into Costa Rica, where

Michelle Grant, Finance and Operations Manager, SMJ Procurement and Marketing, Inc

Brian Erdelyi, Chief Revenue Officer, SM Jaleel

From left to right: Export Managers Aaron Logie and Amir Hosein; Suneeta Hosein, Manager, Centralised Planning Unit; Clint Villafana, Vice President, Export (Caribbean and Third Party)

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Trinidad and Tobago Chamber of Industry and Commerce

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looking outwards

it will benefit from concessions available under the trade agreement that country has with Trinidad and Tobago.

Flexibility SM Jaleel has an excellent track record in responding to changing market conditions and innovating to support growth.

In 1984, for example, when the economic climate demanded a container that would bring consumers both savings and convenience, the company introduced the revolutionary Jaliter bottle (Jaleel + litre), and became the pioneer in large-format 2-litre soft-drink packaging. In conjunction with Reynolds Metals Company, it was the first company in the world to market fruit juices in two-piece aluminium cans using nitrogen technology, thus eliminating the need for artificial preservatives.

Chubby is another example of flexibility. It was born when SM Jaleel observed that children were being given soft drinks in large bottles which were cumbersome for them to hold: so it filled that gap in the market by introducing the flagship brand in its characteristic chubby bottle.

Chubby changed the market and created a global transformation for SM Jaleel. Today, it is sold in over 60 countries and is manufactured on four continents around the world; it has proven to have almost unrivalled global reach in terms of penetrating new markets and countries.

Responsibility SM Jaleel is notable for its response to environmental challenges too. In Trinidad, it recycles all its cardboard, cans, plastic bottles, shrink wrap, cardboard, pallets, metal drums, and unused tetra packs. It is in the process of building a waste

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water treatment plant. It is working to reduce the materials in its packaging, and lowered the weight of its plastic water bottles by half in two years.

It takes corporate social responsibility very seriously too. One of its recent projects has been to partner with Vitas House Hospice during Cancer Awareness Month (October), to raise funds to promote cancer awareness through education, early detection, and treatment. In another project, the company was one of the first to respond to hurricaneravaged Dominica last year, sending over 200 tonnes of drinks, water, food, toiletries and groceries as part of the relief effort.

Reaching out One of SM Jaleel’s current objectives is truly remarkable: it wants to leverage its export success so as to give a platform to other Trinidad and Tobago manufacturers and exporters.

SMJ Director Dr Mikaeel Mohammed told a business audience earlier this year that the company wanted to help exporters get things done, and was already working with one of Trinidad and Tobago’s best-known brands, using SM Jaleel’s existing distribution and marketing network. “We want to help each and every company here [to] reach destinations you never dreamed of,” he declared. “Caribbean brands are just as good [as international ones], if not better.”

It sounds like the same sort of innovative thinking that has marked out SM Jaleel since its earliest days in San Fernando. While it pursues its aggressive growth campaign, takes care of its corporate social responsibility, and continues to innovate, SM Jaleel has placed its brands – and Trinidad and Tobago – in the hands of consumers across the world.

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looking outwards

The will to export For decades, T&T has dreamed about a big jump in nonenergy exports, enough to break dependence on oil and gas. Is that about to happen at last? CONTACT sat down with exporTT’s CEO Dietrich Guichard to find out WORDS By: Joel Henry photos courtesy: exportt

“T

courtesy exportt

he current environment,” says Trade and Industry Minister Paula Gopee-Scoon, “requires a more aggressive approach to implementing government policy aimed at growing exports to lessen the country’s vulnerability and dependence on oil and gas.”

The Minister was speaking in November 2017 at the National Export Facilitation Organisation of Trinidad and Tobago, otherwise known as exporTT. New signage was being unveiled at its Charlotte Street headquarters, which was being renamed “Export House.” A symbolic change, but symbols have meaning. And the change in signage reflects a new approach and outlook for exporTT. “Our approach is much more aggressive,” says Dietrich Guichard, Chief Executive Officer. “There are a lot of things that we are doing differently internally, and we are trying to engage our clients more intimately.”

In this era of uncertain prices for Trinidad and Tobago’s energy exports, a foreign exchange crunch, and the critical need for diversification of the economy, the nation needs new sources of export revenue.

The most recent figures out of the Ministry of Trade and Industry (for October 2016 to September 2017) show that TT$37 billion of the total TT$41 billion worth of exports were energy-related. That’s 88%. This needs to change.

So what is exporTT doing to make it happen?

Dietrich Guichard, CEO, exporTT

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“For the first time the macroeconomic situation is pushing business in a particular direction” What is exporTT and what does it do?

Dietrich Guichard: ExporTT officially is the sole national export facilitation organisation for Trinidad and Tobago outside of the oil and gas and petrochemical sector. Our focus is the development and promotion of the export of goods and services, regionally and internationally.

Trinidad and Tobago’s top non-energy exports, October 2016 – September 2017

“Facilitation” is a broad word. What does it entail?

DG: Facilitation can be broken down into various areas.

We have an export promotion division, a research division, a capacity building division (including standards implementation), and a training division. In general our activities are dedicated to growing exports and diversifying the economy in a very real and practical way.

Can you give me an example of exporTT’s activities?

DG: One programme we have in place is taking the top 120 exporters and working with them in their organisations.

This includes diagnosing where they are in their financial, marketing, and human resource capability, and identifying their strengths and weaknesses. Really we are diagnosing all aspects of their business operations, including the will to export. Many people say they want to export, but is it really true?

Then we are developing robust export plans with them. If they wish to get into a market or markets we will provide the necessary information and contacts – importers, market prices, the contacts to get you there.

If you do not have the wherewithal, we will work with you to build your firm’s capacity, including training, research, and even funding for machinery.

How far along is this programme?

DG: We will complete 30 companies at the end of this fiscal (September 2018).

You mentioned the “will to export”. It seems there is a new energy and willingness to get things done.

DG: When I took up the post of CEO at exporTT the Chairman said, somewhat tongue-in-cheek: “ExporTT is Trinidad and Tobago’s best kept secret”. So we made a conscious decision to change that. We have been much more aggressive in our marketing. And we have made a conscious decision to change the way we do things.

We have moved our officers from being office-based most of the time to being out there in the market. It is

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Toilet tissue

TT$253 million

Cigarettes

TT$239 million

Cereals, precooked and otherwise

TT$219 million

Building cement (grey)

TT$156 million

Aromatic bitters

TT$97 million

Biscuits, unsweetened

TT$89 million

Sweet biscuits

TT$87 million

Other chocolate in blocks, slabs or bars

TT$84 million

Other sugar confectionery

TT$79 million

Prepared foods from cereals

TT$77 million

Beer

TT$73 million

Bottles for soft drinks, beers, wines, spirits

TT$72 million

Other detergents

TT$60 million

Aerated beverages

TT$59 million

Trinidad and Tobago Chamber of Industry and Commerce

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looking outwards

Trinidad and Tobago’s top ten non-energy export markets, 2016

Guyana

US$243 million

Suriname

US$66 million

USA

US$236 million

UK

US$40 million

Jamaica

US$117 million

Saint Lucia

US$40 million

Netherlands St Vincent & the Grenadines

US$30 million

Barbados

US$70 million

Grenada

US$68 million

“Our approach is much more aggressive”

US$28 million

a much more aggressive approach in terms of interventions and support for local manufacturing.

Then there is the state of the economy and the lack of foreign exchange. Money drives everything. The traditional importers and distributors are starting to feel the crunch. Getting hard currency to restock and so on, and continue operations in the traditional way, is becoming harder and harder. For the first time the macroeconomic environment is pushing business in a particular direction to help with their foreign exchange requirements.

Who are some of our major exporters?

DG: Carib Brewery and SM Jaleel and Company have major investments in the islands.

SM Jaleel goes even further with a presence in South Africa and Saudi Arabia, with actual production facilities in these territories. Carib has investments up the islands and acquired a brewery in Florida a few years ago. The ANSA McAL Group of Companies (owners of Carib) is setting up business in Cuba, in the Mariel Special Economic Zone.

What are the most promising export markets?

DG: The Latin American market seems to have regions which are growing. Our manufacturers, through exporTT, are aggressively seeking to maximise those territories where we have existing trade agreements – Colombia, Costa Rica, Panama, Haiti and Cuba. Cuba has taken a lot of time, but we are now seeing tremendous benefits from our investments in the island.

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Trinidad and Tobago Chamber of Industry and Commerce

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looking outwards

Major Trinidad and Tobago non-energy companies exporting to CARICOM Over US$20 million per year

SM Jaleel

WITCO

Associated Brands Industries

Trinidad Cement

Nestlé Caribbean

Trinidad Distillers

Electrical Industries Group

Caribbean Development Company

Holiday Snacks

Between US$10 million and US$20 million per year

Angostura

Bermudez Biscuits

Baker Hughes

Grand Bay Paper Products

Trinidad Tissues

Universal Foods

Carib Glassworks

John Dickinson

Between US$5 million and US$10 million*

VEMCO

IAL Engineering

Unilever

Advance Foam

NFM

Century Eslon

Chief Brand Products

* There are about 50 firms in this category in total.

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“We are now the number one exporter into Cuba from the Caribbean and Latin America” ExporTT (in its prior incarnation as the Business Development Company) and the Ministry of Trade and Industry have had a trade facilitation office in Cuba for over ten years. We are now the number one exporter into Cuba from the Caribbean and Latin America.

That’s impressive.

DG: In fact Carib Glass has just shipped their first major shipment of glass bottles for the largest local rum producer in Cuba. Carib beer has signed a distribution agreement with the largest liquor company in Cuba to supply the finished beer product to the market. Angostura has well over 10,000 points of sale on the island, working closely with exporTT trade facilitation. Sacha Cosmetics is a major exporter to Cuba. Trinidad Tissues and Grand Bay Paper and Care Products (makers of tissue paper and tissue paper pulp) are major suppliers into Cuba.

It has been a bit of a wait, an over 10-year investment, but we are seeing tremendous growth in the Cuban market.

What about exporting to the diaspora?

DG: There is a high demand for local products in our diaspora – New York, London, Toronto and Miami.

Caribbean products are growing in prominence, and while Jamaica has been able to benefit immensely from this, we have been a bit lagging.

But we are targeting the diaspora market. In November we will be in Canada on a trade mission.

Targeting the importers who service the diaspora market will be a major focus for us. Earlier this year, during the Trade and Investment Convention (TIC), exporTT was responsible for bringing international buyers. We brought in the purchasing manager for the GraceKennedy Group from Canada.

GraceKennedy is well-established, not only in the diaspora market in North America, but they have grown and are in the mainstream distribution sector.

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courtesy exportt

Export House, head office of exporTT, on Charlotte Street, Port of Spain

He met with the major local suppliers to discuss utilising GraceKennedy’s distribution channel. We had very fruitful meetings and hopefully we will see some traction in increasing our exports to the diaspora in North America.

Sounds like progress is being made. What of the challenges?

DG: The challenges are well-known – crime, the productivity and availability of labour, the lack of foreign exchange to invest in new or expand existing business.

Companies are not happy with the pace at which they receive their VAT (value added tax) refunds. Many of them use it as the liquidity to run their business.

The government understands the problems and they are working on them. The Ministry of Trade and Industry is working very hard to improve the ease of doing business, getting businesses up and running, getting all the approvals much more easily.

And on a personal level, how do you deal with the challenges? What motivates you?

DG: I’ve always liked the export arena. My first job, straight out of university, was travelling up and down the islands selling construction material for a local company. I just reached a point in my life and maturity where I wanted to use my experience to help in nation-building, and give back to the manufacturing and export sector that has been good to me. When the position became available I felt it was an ideal fit with my practical export experience to bring that understanding to the public sector.

Is there anything you would like to tell potential exporters?

DG: Don’t be afraid. Don’t be afraid to go out there.

What holds back a lot of business people is the fear of the unknown. ExporTT is here to demystify your business expansion aspirations. We are very open. We are very responsive. We are here to help.

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Special resources for companies •

“The Ministry of Trade and exporTT have a fund of TT$25 million whereby we assist small and medium-sized manufacturers to purchase plant and equipment. This is a grant. You don’t have to pay it back.

You must satisfy the requirement that you are able to increase your exports or prove that you are having an impact on import substitution. You are eligible for this grant up to $250,000. It is a matching grant, meaning it will pay the supplier half of the cost for the equipment up to that amount.”

•

“Companies can also access a research and development grant of up to a million dollars per company. The grant includes concept development for an innovative product or service, commercialisation of the product, and assistance in marketing the new product.”

•

“ExporTT doesn’t only deal with exporters.

We even have an entrepreneurship programme for people who are now starting up, moving them along the developmental process to one day becoming exporters.

We have a cohort now in Tobago of about 12 indigenous manufacturers who in some instances are not even exporting to Trinidad.

We are training them in marketing, labelling, finance and business planning.”

Trinidad and Tobago Chamber of Industry and Commerce

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Know your export markets Every export market has its own character. Get to know the possibilities, the hazards and the quirks of each one WORDS By: Lisa M. Douglas-Paul Trade and Research Economist, Trinidad and Tobago Chamber of Industry and Commerce

F

or many countries, the economic outlook in 2018 has been quite positive, given the changes in the international trade environment. Some of these changes have opened the way to new opportunities and improved access in Trinidad and Tobago’s traditional export markets. But political developments in other traditional markets may threaten the favourable access which many Trinidad and Tobago companies enjoy.

Caricom, Latin America, the United States and the European Union collectively accounted for over 80% of Trinidad and Tobago’s exports in 2017. Given the economic importance of these trading partners, exporters should watch for new opportunities there. Similarly, experienced exporters will note the changing dynamics in existing markets that will affect their trade beyond 2018.

Let’s take a look closer look at the changing conditions that occurred in some of Trinidad and Tobago’s traditional markets and examine their possible impact on our exports.

Caricom The United Nations Commission for Latin America and the Caribbean (UNECLAC) stated in its 2018 Economic Outlook that Caribbean economies have exhibited improved growth and resilience in 2018. Two economies stood out in this regard: Jamaica and Guyana.

As a result of improvements made to its investment infrastructure, Jamaica established itself as the top economy in Caricom for ease of doing business in 2018.

It was also ranked as the fifth easiest place to start business in 2018 by the World Bank Group.

As the largest English-speaking territory in the Caribbean, with more than double the population of T&T, Jamaica holds great potential for local businesses seeking to expand their product and service outreach.

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Travel mania/shutterstock.com

In the case of Guyana, the estimated 4 billion barrels of oil found offshore since 2015 could transform the economy beyond the projected growth rate of 3.3%. Guyana is expected to generate increased demand for business support services well beyond 2018 in order to sustain the increase in market activity, particularly in the areas of ICT and business consultancy.

Latin America Latin America is seen as the new horizon for global trade. Trinidad and Tobago’s exporters can already benefit from preferential trading arrangements with Colombia, Venezuela, Costa Rica, Cuba, the Dominican Republic and Panama. This access advantage can have a positive impact on the Trinidad and Tobago manufacturing sector.

The Dominican Republic, a significant trading partner for Trinidad and Tobago, has the highest projected growth rate for 2018 in Latin America and the Caribbean. There is much untapped potential and existing demand for manufactured products, particularly inputs for value-added production for re-export.

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In Central America, the market access advantage provided by the TT-Panama Partial Scope Trade Agreement, coupled with the improvements made to the Panama Canal, can give T&T manufacturers increased access to greater volumes of cheaper inputs from global markets for their value-added manufactured products.

Cuba It has been perceived as difficult to penetrate, but Cuba continues to pique interest.

It has undergone significant changes since 2014 and continues to open up its economy. Trinidad and Tobago businesses continue to pursue opportunities in the Cuban market, with varying levels of success.

Restrictions on financial transactions continue to affect the ease of doing business in Cuba, but the support provided by Trinidad and Tobago’s Trade Facilitation Office in Havana has made navigating the business landscape significantly easier.

The US and the EU The changing political landscape in T&T’s traditional export markets has caused established exporters to feel concerned about the possible impact on preferential access to the United States and the European Union.

For the past 18 years, T&T exporters have enjoyed duty-free access to the US through the Caribbean Basin Trade Partnership Act (CBTPA). However, this arrangement is due to expire on September 30, 2020. There is healthy caution about its prospects of renewal, given recent developments in US foreign policy under the Trump administration. This is particularly important as the US is the largest export market for T&T products.

On the other side of the Atlantic, the infamous Brexit vote sent shockwaves through the international community in 2016. The United Kingdom announced that it would be leaving the European Union in 2019, arousing immediate concern as to how Trinidad and Tobago – and by extension Cariforum – will continue to benefit from preferential access for its exports.

Brexit could affect not only the remaining 27 EU member states but also

Trinidad and Tobago Chamber of Industry and Commerce

21

looking outwards

Trinidad and Tobago exports 2012-2017 (US$ million) 18000 16000 14000 12000 10000 8000 6000 4000 2000 0

2012

2013

2014 Non-energy

2015 Energy

2016 Total

2017p

The Trinidad and Tobago Chamber of Industry and Commerce, as a key business support organisation, helps T&T companies to take advantage of export opportunities, and continues to be a key partner in the national export thrust.

Source: Government of Trinidad and Tobago, Review of the Economy 2018

Caricom, Latin America, the United States and the European Union collectively accounted for over 80% of Trinidad and Tobago’s exports in 2017

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Trinidad and Tobago Chamber of Industry and Commerce

trade with the United Kingdom, which happens to be T&T’s fourth largest trading partner. This is particularly important since the current Economic Partnership Agreement with the EU provides preferential market access for both goods and services from Trinidad and Tobago.

Non-traditional markets Although market access to traditional trading partners is of key importance to Trinidad and Tobago, exporters should also consider opportunities that are developing in non-traditional markets.

Distance and logistical challenges normally dissuade smaller exporters from prospecting for opportunities in such markets. However, ICT and energy-related developments in Asia and Africa hold some potential for service exports.

Market intelligence Having an idea of where the global opportunities are is just the beginning. Making the best decision depends on a sound market penetration strategy that involves continuous market intelligence gathering. It also requires an understanding of your product’s uniqueness, and how it meets existing or potential demand in your market of interest.

Trade missions and trade expositions offer perfect opportunities for learning about developments in new and existing markets. In addition, companies which are interested in securing preferential access for their products – whether in a new or an existing market – should continuously engage in stakeholder consultations with the Ministry of Trade and Industry.

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looking outwards

Breaking into Europe Exporting to the European market can be a formidable challenge, even without the threat of Brexit in March 2019. The key is thorough preparation and reconnaisance, understanding the Economic Partnership Agreement, and making use of the many available sources of guidance and advice WORDS BY: Caribbean Export

T

he European Union (EU) is one of the world’s largest trading blocs, with over 500 million consumers. It is an ideal market for Caribbean firms wanting to trade and grow their businesses, because the Economic Partnership Agreement (EPA) negotiated between the Caribbean Forum (Cariforum) and the EU is designed to enable increased trade, investment and development between the two regions.

Preparation is key to breaking into any new market, and there are many factors to consider as you embark on this journey. Here are our top tips for succeeding in a competitive business environment.

Be completely knowledgeable about the product you are offering A lack of detail and poor communication about your product’s ingredients, sources of inputs, safety, shelf life etc., can put you at a big disadvantage with a serious buyer.

Make sure you have product information factsheets on hand when engaging potential buyers.

Identify a specific country in the EU with a strong and growing demand for what you can supply Stay up to date on industry trends and consumption patterns, and identify any special market niches. Consider who you want to sell to, what consumers may want, and how best your product can meet their needs. The Caribbean Export Intelligence Portal (www.ceintelligence.com) can help in identifying the target markets with the highest demand for your goods, and allows you to generate market profiles.

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Trinidad and Tobago Chamber of Industry and Commerce

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BANKING THAT HELPS YOUR BUSINESS REACH NEW HEIGHTS. Our Corporate and Investment Banking Division offers an expansive range of intelligent business solutions. Staffed by a team with decades of experience, we will take your business to the next level.

• Working Capital Financing • Plant and Equipment Financing • Construction and Commercial Mortgage Loans • Bonds and Guarantees • Investment Banking • Project Financing

looking outwards

EU-Caribbean: trade in goods 2015-2017 (billion euros) Year

EU imports

EU exports

Balance

2015

4.6

7.4

2.9

2016

3.6

7.0

3.4

2017

4.0

7.2

3.2

EU-Trinidad and Tobago: trade 2015-2017 (million euros) 2015

1243

660

-583

2016

684

595

-89

2017

1139

513

-626

Take steps to protect your intellectual property (IP) in each target market

Source: ec.europa.eu, retrieved on 3 October 2018

Find out about the rules and requirements for exporting to the EU There are several non-tariff measures, such as technical regulations and standards, which must be adhered to when exporting to the EU. They may vary according to your export sector. For instance, if you are a food exporter, you will need to ensure that your product meets the health and safety standards of the EU: products can be rejected at EU borders for noncompliance.

You will also need to identify any additional, nonlegal buyer requirements that can enhance your chances of successfully exporting. These may include quality management systems, certification (HACCP, Global GAP), and sustainability standards (Fairtrade, Rainforest Alliance). Additionally, make sure that you are familiar with the documentary requirements for export, such as the Commercial Invoice, Customs Value Declaration, and the Single Administrative Document (SAD).

Develop a strategic export/market entry strategy Determine the best buyers for your products, and research the appropriate market segments to ensure that you can meet the quality and quantity demands of the EU market. Consider partnering with like-minded suppliers who can help you to meet quantity requirements and find the best channels to penetrate the European market. Caribbean Export’s Distribution Channel Mapping Tool on the CE Intelligence Portal provides guidance to SMEs on profiling, approaching, and selecting a suitable distributor.

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Trinidad and Tobago Chamber of Industry and Commerce

Participate in trade shows and undertake missions to your target market While this may be a costly undertaking, it is always useful to get a first-hand view of how business is done in the country you have selected. Check out your main competitors, review prices for similar products, and begin to introduce your product to potential consumers.

Protect your intellectual property Both goods and services exporters should take steps to protect their intellectual property (IP) in each target market. This can be achieved through various tools such as trademarks, patents, copyrights, industrial design rights, and geographical indications.

Use available resources Taking the first steps to exporting to Europe can be a daunting process. But there is a wealth of information and support to help you on your journey. Caribbean Export has developed a short, practical, commercially-led export guidance manual which begins by assessing your export readiness and provides information on how best to profile, approach and select a suitable distributor.

There is further advice and information on breaking into EU, US and other markets, as well as financing and investment, on the Caribbean Export website (www.ceintelligence.com).

www.chamber.org.tt/contact-magazine

Who’s who?

Caribbean Export

Fairtrade

The Caribbean Export Development Agency, established by inter-governmental agreement, promotes trade, exports and investment in the countries of Cariforum.

The International Fairtrade Certification Mark guarantees that specified products meet the sustainability standards set by Fairtrade International (FLO).

Cariforum

Global GAP

The Caribbean Forum, comprising the countries of Caricom plus the Dominican Republic, serves as a conduit between the Caribbean and the EU.

An international agricultural certification scheme setting standards for “good agricultural practice” (GAP) and unifying requirements for suppliers and retailers.

Economic Partnership Agreement (EPA)

HACCP

The agreement signed in 2008 between Cariforum and the EU, designed to develop trade and investment between the two regions.

Hazard Analysis and Critical Control Points, a scheme to monitor and prevent biological, chemical and physical hazards throughout the food production chain.

European Union

Rainforest Alliance

The 28 states of western and central Europe within which the free movement of goods, services, money and people is being developed. The combined population is over 510 million. The United Kingdom plans to withdraw from the Union on 29 March, 2019.

The New York-based Rainforest Alliance certifies sustainable agriculture and forestry among other things, and awards a seal for products meeting its criteria.

Single Administrative Document (SAD) This is the main customs document used for trade into or out of the EU customs area. It is known in the UK as Form C88.

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Trinidad and Tobago Chamber of Industry and Commerce

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Who do we have trade deals with?

Trinidad and Tobago already has trade agreements in place with many of its regional and international partners, all designed to boost exports and make them easier and less costly WORDS BY: The Ministry of Trade and Industry, Trinidad and Tobago

T

rinidad and Tobago has trade agreements with trading partners both as part of the Caribbean Community (Caricom) and on its own (bilaterally).

These agreements facilitate market access for local exporters to third countries, and also provide for the opening up of the Trinidad and Tobago market, except in the case of the USA, Canada and Venezuela, which are one-way agreements in favour of Caricom.

These arrangements provide dual benefits to local companies, by facilitating the importation of cost-effective inputs and assisting with price-competitiveness in foreign markets, while providing opportunities for growth through exports. The table outlines the ten preferential trading arrangements to which Trinidad and Tobago is a party.

These agreements recognise the importance of trade in services as well as goods, and thus in some cases include provisions for future negotiations in this area.

Economic and technical cooperation is a key feature of the trade agreement with Colombia, as it promotes cooperation in a number of areas such as human resource development, science and technology, and tourism, through exchanges among local universities.

In addition, Trinidad and Tobago, as part of Cariforum, receives development cooperation assistance under the European Development Fund for projects related to economic development, social and human development, regional cooperation and integration.

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Trinidad and Tobago Chamber of Industry and Commerce

Challenges The main issues encountered by exporters when trading include access to market information, difficulties in meeting standards for products, access to foreign exchange, and in some instances distributor laws which act as a deterrent.

Among other things, the Ministry of Trade and Industry is actively seeking to assist exporters with addressing these issues through: • trade missions, which provide opportunities to gather first-hand information • exporter training and workshops, to build capacity and share information • the implementation of lines of credit for specific markets • the strengthening of its Single Electronic Window, TTBizLink, to facilitate and simplify trade • and the development and implementation of policies.

Additionally, the agreements provide a structure for the establishment of a joint institution to address any challenges which may arise between the parties during implementation of the respective agreements.

See following pages for details of the current trade agreements

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30 Trinidad and Tobago Chamber of Industry and Commerce

Country/ country grouping

Market size (2017, millions)

Name of trade agreement/date of signature

Type of agreement

United States of America

325.7

Caribbean Basin Economic Recovery Act Signed: January 1984

Unilateral

United States-Caribbean Basin Trade Partnership Act Signed: October 1, 2000 Date of expiry: September 30, 2020 Canada

Caricom

36.7

18.2

Caribcan Signed: November 28, 1986 Date of expiry: December 31, 2023

Main provisions

Opportunities available

•

Duty-free access for goods into the United States

•

Duty-free access for most goods into Canada (does not cover textiles, footwear, luggage, leather garments, lubricating oils or methanol)

•

Free movement of skills/labour, goods, services, capital, and the right of establishment among all Caricom member states (except The Bahamas and Montserrat) Free trade in all products among Caricom member states Framework for the regional harmonisation of issues such as government procurement and e-commerce

One-way arrangement in favour of Caricom Unilateral One-way arrangement in favour of Caricom

Revised Treaty of Chaguaramas establishing the Caribbean Community (Caricom), including the Caribbean Single Market and Economy (CSME) Signed: July 5, 2001

The agreement contains chapters related to: establishment of common external tariff, rules of origin, product specific rules of origin, freedom of transit, internal taxes and other fiscal charges, quantitative restrictions, subsidies and dumping safeguards.

• •

Costa Rica

4.9

Caricom-Costa Rica Free Trade Agreement Signed: March 9, 2004

Free trade agreement Two-way arrangement

The agreement and its protocols contain articles related to: market access, temporary admission of goods, rules of origin, product specific rules of origin, customs procedures, sanitary and phytosanitary standards, and technical barriers to trade

• • •

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• • Dominican Republic

10.8

Caricom-Dominican Republic Free Trade Agreement Signed: August 22, 1998

Free trade agreement Two-way arrangement

The agreement contains articles related to: market access, rules of origin, product specific rules of origin, technical barriers to trade, sanitary and phytosanitary measures, safeguards, unfair trade practices, anti-competitive business practices, and customs cooperation

• • • •

Free trade in a wide range of goods and elimination of non-tariff barriers Duty-free access for a selected list of agricultural products on a seasonal basis Duty-free access for electrical products produced in free trade zones Mechanism for settlement of disputes Joint Council framework to facilitate expansion of the agreement and address trade issues Free trade in a wide range of goods Future negotiation of access for service providers in various sectors such as tourism, financial and professional services Joint Council framework to facilitate expansion of the agreement and address trade issues Duty-free access for a selected list of agricultural products on a seasonal basis

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Country/ country grouping

Market size (2017, millions)

Name of trade agreement/date of signature

Type of agreement

Main provisions

Opportunities available

Cuba

11.5

Caricom-Cuba Agreement on Trade and Economic Cooperation Signed: July 5, 2000

Partial scope agreement

The agreement contains articles related to: market access, rules of origin, technical standards, safeguards, unfair trade practices, and anti-competitive business practices

•

Cariforum-European Union Economic Partnership Agreement Signed: October 15, 2008

Free trade agreement

The agreement contains articles related to: trade in goods – market access, rules of origin, product specific rules of origin, customs duties, antidumping and countervailing measures, safeguards, and technical barriers to trade

•

The agreement contains articles related to: market access, rules of origin, safeguards, and unfair trade practices

•

European Union

Venezuela

Colombia

508

31.9

49.1

Caricom-Venezuela Agreement on Trade, Economic and Technical Cooperation Signed: October 13, 1992

Agreement on Trade, Economic and Technical Cooperation between Caricom and the Government of the Republic of Colombia Signed: July 24, 1994

Two-way arrangement

Two-way arrangement

Partial scope agreement One-way arrangement in favour of Caricom Partial scope agreement Two-way arrangement

•

•

• •

The agreement and its protocols contain articles related to: market access, treatment of used goods, rules of origin, technical standards, safeguards, and unfair trade practices

• • •

Trinidad and Tobago Chamber of Industry and Commerce

• Panama

4.1

Trinidad and Tobago-Panama Partial Scope Trade Agreement Signed: October 3, 2013

Partial scope agreement Two-way arrangement

The agreement contains articles related to: market access, rules of origin, safeguards, antidumping and countervailing measures, sanitary and phytosanitary standards, technical barriers to trade, and trade facilitation

• • •

31

•

Duty-free access on a selected list of products Access to market support through the Trade Facilitation Office in Cuba The most comprehensive trade agreement signed by T&T; offers preferential access to a list of products Affords development assistance to fund key projects within the region under the European Development Fund Elimination of tariffs on a selected list of Caricom products Provides mechanism for settlement of disputes Joint Council framework to facilitate expansion of the agreement and address trade issues Duty-free access for a selected list of products; opportunity for future liberalisation of trade in services Future negotiation of a bilateral investment treaty Promotes technical cooperation in a number of areas such as human resource development, science and technology, and tourism, through exchanges among universities Joint Council framework to facilitate expansion of the agreement and address trade issues Duty-free access for a selected list of products Development of a technical cooperation work programme to improve trade facilitation between the two countries Future negotiation of a bilateral investment treaty within one year Future liberalisation of trade in services in sectors such as ICT, financial services, education and transport services, within two years

looking outwards

Non-tariff barriers – the exporter’s nightmare As if exporting wasn’t enough of a challenge already, the exporter can easily be ambushed by unexpected traps and pitfalls in the target market. Here’s how to deal with them WORDS BY: Usha Samsundar Business Development Consultant – Exports

A

Quot as

sk a group of manufacturers why they haven’t been able to reach their desired level of export growth despite the preferential agreements now in place with extra-regional markets, and someone will mention non-tariff barriers.

Non-tariff barriers have long been considered the villain of the piece. They are one of the key contributors to the gap between where many Trinidad and Tobago exporters actually are, and where they want to be – expanding significantly, even aggressively, into extra-regional markets.

But we must be careful not to use “non-tariff barrier” as an umbrella term to refer to any and all issues which challenge exporters and delay or frustrate their attempts at new market development.

Demystifying the terms Non-tariff measures (NTMs) and non-tariff barriers (NTBs) are impediments to trade.

They are the result of actions and policy measures beyond what seems to be reasonable. They are more complex and confusing than they need be. And they are non-proportional to the risk involved. s Sanction Defining NTBs and NTMs is challenging because of the scope and complexity of the many items they can cover. For example, an exporter

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Trinidad and Tobago Chamber of Industry and Commerce

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attempts to register product under sanitary and change their requirements. phytosanitary (SPS) regulations in a particular Access trade facilitation assistance, information s m country, and is faced with a flood of onerous and and guidance from the various organisations that o t s Cu ever-expanding requests for more information, work closely with exporters, like exporTT, the TTMA, maybe confidential or proprietary information and the TT Chamber of Industry and Commerce. They not part of the listed requirements and apparently can recommend legal resources, and advise on how to unwarranted, plus inexplicably lengthy delays as the navigate the market. They can also refer you to other local process drags on. This exporter has stumbled on an NTB. companies that may already be in the market.

Note that other companies already in the market may be What they are not in different industries, and the NTBs and levels of competition The challenging and time-consuming processes associated with may differ by industry, so use the information gained from sanitary registration and labelling requirements in the Latin them as a guide, and not as a blueprint.

American region are not NTBs or NTMs. Those processes have long been in place there, and the A call to exporters: dealing with NTBs extensive paperwork, the documentation required and the To ensure that NTBs do not continue to be a significant related costs incurred should not come as a surprise. They are barrier to trade expansion, we need to create a comprehensive just part of the entry requirements for doing business there. mechanism for resolution.

The registration process may be a bit cumbersome, but in most At present, exporters seek assistance in one of several cases registrations are achieved once the required paperwork ways: through the Ministry of Trade and Industry (Trade and documentation are supplied.

Directorate Division) if there is a trade agreement in place, Other regions or markets that continually for example, or by contacting one of the trade facilitation challenge our exporters are the USA, organisations.

Canada, Europe, and the UK, with their This ad hoc arrangement is not an ideal mechanism, since Forex restrictions stringent requirements for product labelling it diffuses information among many and packaging, quality standards and different agencies and organisations. certification. All this has been cited as a There is no central point where Regulations significant impediment to local exporters complaints can be logged to create a trying to doing business, but it cannot be considered an NTB viable database. or NTM, because the standards and processes are transparent, We need a more sustainable well-documented and clearly defined. solution that can help the various stakeholders to understand which markets and industries are the key offenders, in order to focus on those areas.

Inaccurate information Sometimes incomplete or incorrect information can create A national committee misunderstandings that lead exporters to conclude that they One recommendation is to create a national committee to are being confronted by an NTB. deal with trade issues/NTBs. This initiative could be led by the In a recent case, an exporter complained to a trade Ministry of Trade and Industry/TTBS, and bring together the facilitation organisation about an NTB related to the sanitary key stakeholders from trade facilitation organisations and the registration process in a Central American market. After private sector. When a complaint is lodged and found to be investigating, the said organisation concluded that the valid, this committee could then escalate the issue at the exporter had been misled by inaccurate information Caricom/Joint Council level, and ultimately to the World from point persons they had contracted locally to s e Trade Organisation if necessary. assist with the registration process. i v e L A study commissioned by the Caricom Secretariat in Getting accurate information from trusted 2014* noted that “trade has become more difficult recently sources about technical and SPS measures is crucial despite agreements being in place because of a perceived to minimising costly delays and avoiding unnecessary surge of protectionist behaviour by import administrations”. expense.

Exporters must therefore demand a solution as a unified An exporter’s guide to successful market group. We cannot sit idly by, unable to take full advantage entry of trade liberalisation and the potential for significant export Above all, be proactive, do due diligence, and network. growth, at a time when the country desperately needs it.

Obtain as much data as you can on technical and sanitary requirements, and on standards and regulations, through the Enquiry Point on the Trinidad and Tobago Bureau of Standards * Caricom Secretariat Report entitled “Identification and Assessment (TTBS) website, or through the Ministry of Agriculture, Land of the Underlying Reasons Affecting Caricom’s Trade Performance and Fisheries.

Under the Existing Bilateral Trade Agreements with the Dominican Subscribe to the ‘ePing’ online alert system on the TTBS Republic, Costa Rica, Colombia, Cuba and Venezuela” (BKP Research and website: it alerts you with an email when foreign regulators Consulting, March 2014)

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Trinidad and Tobago Chamber of Industry and Commerce

33

looking outwards

Where to go for help?

A checklist of private sector and government agencies which provide assistance, advice, information and documentation for exporters

Government agencies Organisation

Location

Contact

Function

Ministry of Agriculture, Land and Fisheries Animal Production and Health Division

80 Abercromby St., Port of Spain

625-5997, 625-1473, 669-6623

Plant Quarantine Division Research Division, Central Experiment Station, Centeno 646-4334/7

World Trade Organisation (WTO) Sanitary and Phytosanitary Enquiry Point

•

Export Health Certificate: meat, poultry and dairy products

•

Phytosanitary Certificate: unprocessed plant products

Internet site where enquiries about Trinidad and Tobago’s agricultural health and food safety requirements/legislation and changes that can affect trade are published, for the information and comments of affected countries or countries that are members of the WTO. Established in fulfillment of Trinidad and Tobago’s obligation as a member of the WTO

Ministry of Finance

The Customs and Excise Division

Customs House, Ajax Street, Port of Spain

612-7010

By monitoring compliance with trade-related rules and agreements, plays an important role for businesses accessing imported raw materials and inputs. Tries to assist the public with determining import duties before the delivery of goods, though the list of available options is skewed towards oneoff imports by consumers.

Also issues Certificates of Origin for goods exported to the United States and the European Union

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Trinidad and Tobago Chamber of Industry and Commerce

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Organisation

Location

Contact

Function

Provides laboratory services and analytical and advisory support to the Customs and Excise Division.

Any person, broker or business wishing to import, manufacture or sell food or drugs in Trinidad and Tobago must have them inspected and approved by the CFDD. • Export Health Certificate: food, fish and fishery products • Export Free Sale Certificate

Ministry of Health

The Chemistry, Food and Drugs Division (CFDD)

92 Frederick St., Port of Spain

800-CFDD (2333), 627-0010

Pharmacy/Drug Inspectorate

92 Frederick St., Port of Spain

624-5968, 623-5242

•

Licence to export antibiotics

The Pesticides and Toxic Chemicals Inspectorate

3rd Floor, 92 Frederick St., Port of Spain

623-7544

•

Export Licence for toxic chemicals

800-4739

Single Electronic Window: a secure, user-friendly, online interface giving businesses and individuals 24/7 access to applications for government’s trade and business services, such as: • E-Certificate of Origin • E-Import/Export Permits and Licences • E-Maritime Services • E-Goods Declaration

662-8827

Deals with the dissemination of information on international standards and technical regulations, training in ISO 9000 total quality management and ISO 14000 environmental management systems, testing of raw materials and finished products, inspection of consumer items

674-3545, 675-8242 PBX: 638-9151 TradeLicenceUnit@gov.tt

Responsible for conducting investigations, submitting reports and issuing Import and Export Licenses in respect of goods which are still subject to import/export control • An export licence must be obtained PRIOR to the shipment of any item on the export negative list from Trinidad and Tobago • Applications may be submitted to the TLU via TTBizLink

Ministry of Trade and Industry

TTBizlink

Level 9, Nicholas Tower, 63-65 Independence Square, Port of Spain

The Trinidad and Tobago Bureau of Standards (TTBS)

1-2 Century Drive, Trincity Industrial Estate, Macoya

Trade Licence Unit (TLU)

Ground Floor, TTMA Building, 42 Tenth Avenue, Barataria

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Trinidad and Tobago Chamber of Industry and Commerce

35

looking outwards

Organisation

Location

Contact

Function

Ministry of Trade and Industry

exporTT Ltd.

151B Charlotte St, Port of Spain

Eximbank

30 Queens Park West, Port of Spain

The Trinidad and Tobago Free Zones Company Ltd.

612-3988

The national export promotion agency in T&T. • RDF Financing Programmes • Co-Financing Programmes • Grant Fund Programmes • Export Market Research • E- Certificates of Origin

The official export credit agency; provides trade shthomas@eximbanktt.com finance products to the export sector, ranging from eximbank@eximbanktt.com export credit insurance to asset financing

Albion Court, 2nd Floor West, 61 Dundonald St., Port of Spain

625-4749, 623-8363

Approved enterprises engaged in exporting from a free zone to a territory, other than the customs territory, will be exempt from: • import and export licensing • corporation tax • business levy • withholding tax or any other tax or levy on sales, receipts, profits or gains in respect of those exports Applications to become a Freezone member are judged on a case-by-case basis, but it is advisable that: • the company’s business plan clearly outlines how it intends to add value to the local market • roughly 80% of the company’s product is exported • the company is locally incorporated

Ministry of the Attorney General and Legal Affairs The Intellectual Property Office (IPO)

11-13 Frederick St., Port of Spain

625-9972, 625-1907, 627-0706

Ensures that creativity and ingenuity is protected by registering intellectual property such as trademarks, designs and patents

Ministry of Foreign and Caricom Affairs Levels 10-14, Tower C, International Waterfront Centre, 1A Wrightson Rd., Port of Spain

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Trinidad and Tobago Chamber of Industry and Commerce

623-6894

• •

Overseas diplomatic missions Certificate of Recognition of Caribbean Community Skills Qualification

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Private sector agencies Function

Organisation

Location

Contact

The Trinidad and Tobago Chamber of Industry and Commerce (T&T Chamber)

Columbus Circle, Westmoorings, Port of Spain

637-6966

Lobbying & advocacy on behalf of the private sector Hosts outbound Trade Missions E-Certificate of Origin for non-preferential access

The American Chamber of Commerce of Trinidad and Tobago (Amcham)

62 Maraval Rd., Newtown, Port of Spain

622-4466, 622-0340, 628-2508

Lobbying & advocacy Trade Missions

The Trinidad and Tobago Coalition of Services Industries (TTCSI)

18 O’Connor St., Woodbrook, Port of Spain

622-9229

Lobbying & advocacy on behalf of the services sector Certificate of Registration as a Caricom Service Provider

The Trinidad and Tobago Manufacturers’ Association (TTMA)

2 Tenth Avenue, Barataria, Port of Spain

675-8862, 675-0095

Lobbying & advocacy on behalf of the manufacturing sector Hosts the Trade Investment Convention Organises outbound Trade Missions

Source: Trinidad and Tobago Chamber of Industry and Commerce

REGIONAL OPERATIONS GUYANA , FRENCH GUIANA, SURINAME , BRAZIL COLOMBIA , PERU, VENEZUELA .

Products & Services Cargo Carrying Equipment (DNV) PORTABLE STORAGE CARGO CARRYING EQUIPMENT

Offshore and Onshore Automated Tank Cleaning & Traditional Hazardous and Non-Hazardous Waste Management & Disposal Vacuum Tanker Services

WASTE MANAGEMENT

Hazmat and Oil Spill Response Services Cooling Tower Cleaning Port Logistics Management & Services

Thinking Outside The Tank.

Lot #22B, La Brea Industrial Estate, La Brea , Trinidad , W.I. l Office# (868) 651-1544 /0130/1460 l sales@tigertankstrinidad.com

tigertankstrinidad.com

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Trinidad and Tobago Chamber of Industry and Commerce

37

looking outwards

The voice of experience Six successful T&T exporters describe the export journey they have taken, and offer encouragement and advice for those who are starting out WORDS BY: Natalie Dookie Writer/Business Development Consultant

Full Circle Animation Studio: build trust and reliability

courtesy full circle animation studio

F

Jason Lindsay, Managing Director, Full Circle Animation Studio

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Trinidad and Tobago Chamber of Industry and Commerce

ull Circle Animation began its export journey in 2012, supplying animation production services in the Caribbean, North America, and the Far East. Today, its annual exports account for more than 50% of sales.

In 2018 it secured a contract from Big Jump Entertainment in Canada to supply animation for the HBO show Animals.

Although the digital services economy is borderless, exporting from Trinidad and Tobago has been tough, says Jason Lindsay, Full Circle’s Managing Director. “Most local business infrastructure facilitates product export,” he warns, “and is geared to medium and large companies.”

Full Circle is an SME, operating in an industry (animation) which does not have enough local demand to make the business viable. “Many local agencies that support, promote and finance exporters still have not caught up with the services sector,” Lindsay says, “and do not fully understand how the digital economy operates. We were born locally but are sustained globally.”

So Full Circle is pushing ahead with its export drive, and plans to add intellectual property development to its portfolio. Investing in digital properties, such as TV shows, will allow the company to benefit from ownership value on the same product.

Lindsay encourages other digital services exporters to emphasise trust, effective communication, and reliability as core values, in order to build confidence with clients in the world of borderless animation.

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courtesy tobago cocoa estates

Tobago Cocoa Estate: product quality is key

Duane Dove, founder/owner of Tobago Cocoa Estate

Duane Dove, founder/owner of Tobago Cocoa Estate, is often credited with putting Trinidad and Tobago’s cocoa back on the world map.

He began trading with Scandinavia in 2010, and currently produces a range of different chocolate products. Tobago Estate exports almost 95% of its production, using a combined model of direct trade along with local distributors and representatives.

As a chocolate maker working in the European Union for more than 20 years, Dove felt that exporting to Europe would be made easier by his experience there.

He stresses that product quality is a critical factor when exporting to developed markets. Tobago Estate regularly enters international competitions to sanction its brand – in 2018 its Laura 45% chocolate bar secured silver in the plain/milk chocolate category at the 2018 European Bean-to-Bar competition.

Dove’s advice to local firms: “Invest in market research when exploring new markets, and undertake feasibility studies. You need to plan your export journey carefully and thoroughly.”

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Trinidad and Tobago Chamber of Industry and Commerce

39

courtesy sacha cosmetics

looking outwards

Kama Maharaj, the founder of Sacha Cosmetics

Sacha Cosmetics: take advantage of T&T’s trade agreements Sacha Cosmetics first exported 15 years ago, to Caricom. It has also exported to Cuba for over ten years now, and has made inroads online, selling on Amazon in Canada, the European Union, the UK and the USA. In 2015 Sacha entered the Latin American market, operating first in Panama where it now owns five stores. Recently it signed an agreement to position its makeup products in 115 retail outlets of the Colombian-based La Riviera Group, and it plans to further increase its outlets worldwide using a franchising model.

Kama Maharaj, Sacha’s founder, says: “The major challenge of exporting to Latin America is the time and costs required for completing regulatory and product registrations. However, we persisted because Trinidad and Tobago has duty-free or partial scope agreements with several of these markets.” In Colombia, import duties on American and European brands are 15-20%, while Sacha can enter the market duty-free.

Maharaj encourages exporters to identify their competitors, and to differentiate their products and services. Sacha is positioned as a high-end brand in its export markets, and as the only makeup line made specifically for multi-cultural women with light, medium and dark complexions.

As Sacha looks to new markets in Africa, Maharaj recommends that local firms should not restrict themselves to Caricom, as it’s a small market with limited growth potential, and nearby Latin America provides additional scope.

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Trinidad and Tobago Chamber of Industry and Commerce

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Trinidad Tissues: use the trade support agencies

The Cuban ambassador to Trinidad and Tobago receives a donation for hurricane relief from Sallyann Rampat, Director, Sales and Marketing, and Kevin Marcilliat, CEO of Trinidad Tissues

courtesy trinidad tissues

Trinidad Tissues Limited (TTL) first exported paper products to Cuba in 2014, using a local broker. In preparation for their first visit in 2015, they met with the Cuban Ambassador, which was crucial to gaining approvals and market entry.

TTL’s CEO, Kevin Marcilliat, also credits exporTT’s Trade Facilitation Office in Cuba for helping the company to gain direct entry by arranging documents and registrations.

TTL offers bilingual customer service, which has been a tremendous asset in trading with Cuba. Eventually it formed a partnership with a small paper manufacturing plant, and started shipping semi-finished products in 2016.

Sallyann Rampat, Director of Sales & Marketing, says: “Since then we have doubled sales to Cuba year over year.

We have also exhibited annually at FIHAV (the Havana international trade fair) since 2015, in order to maintain market visibility, and we have built excellent relationships with the main agencies in Havana.”

TTL now exports to over 25 countries in the Caribbean, Central and South America. Export sales have tripled in the past five years, and now account for 50% of revenue. Rampat urges exporters to Cuba: “Invest in bilingual ‘hunters’ and have patience. While payments may be challenging, you will get paid.”

“Invest in bilingual ‘hunters’ and have patience”

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Trinidad and Tobago Chamber of Industry and Commerce

41

courtesy ramps logistics

looking outwards

Shaun Rampersad, Chief Operating Officer, Ramps Logistics

Ramps Logistics: invest in a local presence Ramps Logistics began their export journey with Haiti, Guyana and Suriname in 2013.

Ramps exports integrated oil and gas logistics services, including freight forwarding, customs brokerage, shore base, and visas and work permits. Preferring to establish local offices, it now has a presence in Guyana, Suriname, Miami and Houston.

Shaun Rampersad, Chief Operating Officer, says: “Every country has a different model of operating and culture, and you need to fully understand this. Guyana is culturally similar to Trinidad, which made it easier for us.”

Ramps is proud that its Guyana office is fully staffed by Guyanese, and that it is now the largest employer of Guyanese in the oil and gas sector there.

Rampersad advises: “Just do it! Go, open an office, develop relationships, tell people what you are doing and ask for help. Speak to others who have done it already, and ensure you are well enough capitalised to be able to make it through the tough times. Once you start exporting you can standardise your format and develop a model which can be replicated in other markets.”

Rampersad says his leadership team would be happy to share their exporting lessons with any exporter. For the future, Ramps is targeting the Latin American and West African markets, and will be further exploring Mexico and Colombia in the next few months.

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Trinidad and Tobago Chamber of Industry and Commerce

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Lake Asphalt of Trinidad and Tobago (LATT) has been exporting Trinidad Lake Asphalt (TLA) since the early 1900s. It also exports refinery bitumen, bitumen emulsions, and the LASCO range of sealants/coatings to the Caribbean.

TLA is exported through a network of international distributors. In 1996 LATT began exporting TLA to China, and because TLA is a specialised asphalt modifier, the company needed to partner with a local distributor to develop national standards, connect with paving contractors, and obtain country approvals.

China has since become LATT’s largest international customer, using TLA on high profile projects, including the world’s longest bridge.

CEO Roger Wiggins points out that China is a huge market with tremendous potential, but business, cultural and political differences make entry challenging. He encourages exporters to engage with T&T’s Embassy in China, as they can assist with due diligence on business partners.

“Research your market, your competing products, and be aware of all barriers to trade and how to overcome them. Determine the best choice of market entry and consider a distributor, agent, or licensing arrangement if a partner is needed,” Wiggins advises.

He strongly recommends using the export support services of exporTT, the Ministry of Trade & Industry, the Ministry of Foreign & Caricom Affairs, and lending agencies such as the Eximbank.

In the long term, LATT wants to strengthen its presence in China and Brazil, while pursuing market development in India and Africa.

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courtesy lake asphalt of Trindad & tobago

Lake Asphalt of Trinidad and Tobago: do your market research, find partners

Roger Wiggins, CEO, Lake Asphalt of Trinidad and Tobago

Trinidad and Tobago Chamber of Industry and Commerce

43

STATE OF THE NATION

The economic outlook The region: Latin America and the Caribbean

A

ccording to International Monetary Fund (IMF) reports, challenges have been mounting in a number of emerging markets and low-income countries, including some in Latin America.

Many of these economies are feeling pressures from a stronger US dollar and a tightening of financial market conditions. Facing capital outflows and trade disputes, they could deliver a shock to a wide range of emerging and developing economies.1 For example, Argentina recently experienced a currency crisis, and Brazil has faced lower business confidence and continued political uncertainty.

Prospects for FDI in Latin America and the Caribbean are expected to improve in 2019. The IMF has a slightly more optimistic projection than the World Bank.

FDI growth forecasts, Latin America and the Caribbean (%) 2018

2019

IMF

2.0

2.8

World Bank

1.7

2.3

The domestic landscape The IMF has predicted that the energy sector will grow by 6.0% in 2018 and 2.4% in 2019 (Article IV Mission Concluding Statement for Trinidad and Tobago). But the non-energy sector was predicted to contract by 1.8% in 2018 and show zero growth in 2019.2

Trinidad and Tobago growth forecasts (%) Real GDP growth

2018

2019

IMF

1.0

0.9

World Bank

1.6

1.9

Energy sector

6.0

2.4

Non-energy sector

-1.8

0.0

Sector growth (IMF)

2019 budget Trinidad and Tobago’s national budget for the fiscal year 2018-2019 was presented on 1 October by finance minister Colm Imbert.3 He estimated total revenue at TT$47.724 billion (oil revenue $9.518 billion, non-oil revenue $35.197 billion, capital revenue $3.009 billion).

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Trinidad and Tobago Chamber of Industry and Commerce

The IMF has predicted that the energy sector will grow by 6.0% in 2018 Expenditure was estimated at $51.776 billion (see sidebar) net of capital repayments and sinking fund contributions. The fiscal deficit for 2019 is expected to narrow to $4.052 billion or 2.5%.

Major projects announced in the budget are expected to stimulate economic activity and contribute to economic transformation. They include the Sandals Golden Grove project in Tobago, a competitively-priced steady supply of natural gas from Venezuela’s Dragon Field, two new fast ferries for the seabridge, radical changes at Petrotrin (the Petroleum Company of Trinidad and Tobago), and a new dry dock and ship-building/ship-repair facility at La Brea.

The last is a collaboration with China Harbour Engineering Company Limited (CHEC), and was signed on 7 September. It is projected to generate approximately US$500 million annually, which would represent a 2.4% addition to T&T’s GDP. During the four-year construction period, it is expected that 3,500 direct and 5,700 indirect jobs will be created.4 The finance minister maintains that the creation of a growth-inducing environment that promotes macroeconomic stability and confidence is a key condition for ensuring that recovery takes hold in the non-energy sector.

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Trinidad and Tobago: expenditure 2018-2019 TT$ billion 7.392 6.120

5.695

3.546

3.182 1.760

1.033 0.780

EDUCATION & TRAINING

NATIONAL SECURITY

HEALTH

The global context5 Global growth was projected to reach 3.8% in 2018 and 3.9% in 2019, according to the IMF’s April 2018 World Economic Outlook (WEO). But growth seems to be slowing, and the outlook is becoming less certain. The rate of expansion appears to have peaked around July 2018 in some major economies, and growth has become less synchronised.

The United States In the US, near-term momentum is strengthening in line with the April WEO forecast, and the US dollar has appreciated by around 5% in recent weeks. The recent tariff increases on Chinese products and retaliatory measures by trading partners have increased the likelihood of escalating trade actions. These could derail the recovery and depress medium-term growth prospects, both through their direct impact on resource allocation and increased uncertainty for investors.

As for oil prices, the US Energy Information Administration has estimated in its short-term energy outlook that West Texas Intermediate oil will average US$67.36 per barrel in 2019. The World Bank is forecasting a similar WTI oil price of US$67.40.

The rest of the world Growth projections have been revised downwards for the Euro area, Japan, and the United Kingdom, reflecting negative shocks to economic activity in

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WORKS & TRANSPORT

RURAL PUBLIC UTILITIES DEVELOPMENT & LOCAL GOVERNMENT

early 2018. There have been escalating trade tensions and market pressures on the currencies of some economies with weaker fundamentals. The UN states that intensifying trade tensions between the major economies pose a significant risk to the global growth outlook.

Debt Global debt, both public and private, has reached an all-time high of $182 trillion, almost 60% higher than in 2007. This buildup has left governments and companies more vulnerable to a tightening of financial conditions.

Emerging and developing economies are already feeling the pinch as they adjust to monetary normalisation in the advanced world.

This could lead to market corrections, sharp exchange rate movements, and further weakening of capital flows.

Emerging economies, excluding

AGRICULTURE

China, could face debt portfolio outflows of up to $100 billion, which would broadly match outflows during the global financial crisis.6

1

Foreign direct investment (FDI) According to UNCTAD’s 2018 World Investment Report, weak FDI growth rates will continue for 2018 and can still result in an upswing in the global economy. In practice, FDI in LDCs remains heavily concentrated in a few countries, especially in the extractive industries. Directing FDI towards the longer-term infrastructure and diversification needs of LDCs remains an important policy challenge.

HOUSING

2

3

4

5

6

Lagarde, Christine, and IMF. “‹Steer, Don›t Drift›: Managing Rising Risks to Keep the Global Economy on Course.” IMF, 1 October 2018. www.imf.org/en/News/ Articles/2018/09/27/sp100118-steer-dontdrift.

“IMF Executive Board Concludes 2018 Article IV Consultation with Trinidad and Tobago.” IMF, 25 September 2018. www. imf.org/en/News/Articles/2018/09/25/ pr18356-trinidad-and-tobago-imfexecutive-board-concludes-2018-articleiv-consultation.

Budget Statement 2019. Ministry of Finance, 1 October 2018. www.finance.gov. tt/budget-statement-2019/#estimates.

Paul, Anna-Lisa. “La Brea, Point Fortin Residents Anxious for Dry-Dock Project.”

Trinidad Guardian, 22 September 2018. www.guardian.co.tt/n/la-brea-pointfortin-residents-anxious-for-drydockproject-6.2.673878.fa99ee0e28.

“World Economic Outlook Update, July 2018: Less Even Expansion, Rising Trade Tensions.”

IMF, July 2018. https://www.imf.org/en/ Publications/WEO/Issues/2018/07/02/ world-economic-outlook-updatejuly-2018.

Lagarde, Christine, and IMF. “‘Steer, Don’t Drift’: Managing Rising Risks to Keep the Global Economy on Course.” IMF, 1 October 2018. www.imf.org/en/News/Articles/2018/09/27/ sp100118-steer-dont-drift.

Trinidad and Tobago Chamber of Industry and Commerce

45

STATE OF THE NATION

Energy Update Energy Update A comparison of Q1 2017 and 2018 production and export Local oil and natural gas production levelscrude for energy and downstream products and usage In Figure 1, where Q2 2017 and Q2 2018 are compared, the top three producers have remained unchanged with one notable switch in the rankings. It is important to note that for the same periods in both 2017 and 2018, Trinidad and Tobago was actually a net importer of crude oil, as shown in Figure 2.

Fig. 2: Imports vs exports of crude oil

Fig. 1: Top local oil producers (average bopd)

(BBLS)

18,773

Q2 2018

Trinmar

12,553

Petrotrin

Trinmar

Q2 2018

Perenco

7,992,239

11,702

12,032

Perenco

Petrotrin

Fig. 3: Natural gas utilisation by sector Q2 2018

Q2 2017

From Q1 2017 to 2018, natural gas 7,284,302production 2,807,918 levels increased

2018 2,103

●

BPTT 502

244

71

As can be seen in Figure 1, when comparing Q2 data from 2017 and 2018, between the top three producers there was an average decline in oil production of 1.9%, while over the same time period there was an average 14.49% increase in natural gas output (Figure 4).

Figure 3 also shows that the LNG sector continues to be the major user of natural gas locally, accounting for almost 57% of total production .

Exports

Fig. 4: Top local natural gas producers, Q2 ● Downstream

3,412

543

2,242,026

●

(average mmscf/d)

1,937

Exports

Imports

19,951

Q2 2017

Imports

11,524

115

537

products also had modest increases 2017 in production 1,723

Crude oil production continues BPTT on a downward trend 522

Shell

EOG

509

506

EOG

Shell

Source: MEEI Consolidated Report 2017 & 2018

46

Trinidad and Tobago Chamber of Industry and Commerce

www.chamber.org.tt/contact-magazine

Contact Magazine Energy Statistics Revamp (pg. 2) .pdf

1

07/11/2018

3:40 PM

Energy Update Energy Update comparisonof ofQ2 Q12017 2017and and2018 2018production production and export AAcomparison and export levelsfor forenergy energyand anddownstream downstream products levels products

C

● ●From Q2 2017 From Q1 2017

M

Y

to to 2018, 2018,natural gas gasnatural production production levels have levels increased improved.

CM

MY

CY

CMY

K

●

Downstream

products also ● Downstream

had modest products on increases in average have production shown ● Crude oil increases in production continues on a production downward level. trend

● Crude oil

Source: MEEI Consolidated Reports 2017 & 2018

www.chamber.org.tt/contact-magazine

production continues on a downward trend.

Trinidad and Tobago Chamber of Industry and Commerce

47

the chamber and its members

Welcome, new members!

The Chamber extends a very warm welcome to all those companies and individuals who have become Chamber members in recent months

Armoredeagle Security Services Limited 5 Sixth Street East, Beaulieu Avenue, Trincity 488-2405 lyndon30@hotmail.com

Charles Pashley

Westmoorings charles.pashley1000@gmail.com

GO4 Delivery Service

23 Lucknow Street, St James • 235-3551 go4delivery@yahoo.com

QURE Limited

2 Randolph Telesford Street, Arima • 225-6678 jjoseph@qureltd.com

48

Trinidad and Tobago Chamber of Industry and Commerce

Regulated Industries Commission

1st & 3rd Floors, Furness House, Corner Wrightson Road & Independence Square, Port of Spain 625-5384 leeyoungj@ric.org.tt

Tobago Hospitality & Tourism Institute Blenheim, Mount St George, Tobago 660-2196 stephen.sheppard@thti.edu.tt

Visto Enterprises

Building 1B, Milford Industrial Park, Shaw Park, Tobago 718-0347 kristopher.warner@hotmail.com

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