Trinidad and Tobago and Mexico strengthen trade and investment relations
July 13, 2022: Senator the Honourable Paula Gopee-Scoon, Minister of Trade and Industry held a work meeting with Ambassador of Mexico, Victor Hugo Morales, on Wednesday 13 July, 2022 to define a roadmap to increase trade and investment between both countries. Minister Gopee-Scoon and Ambassador Morales agreed to arrange a Mexican Trade Mission to Trinidad and Tobago in early September 2022, 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 both nations in 2007.
The Ambassador of Mexico 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 businessmen to take advantage of this offer.
Mexico is Trinidad and Tobago's 8th trading partner and aspires to be among the top five partners in the short term and hence 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.
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