Trinidad and Tobago Manufacturers’ Association (TTMA) Message
November 22nd, 2023
Shaping Our Future
The non-energy manufacturing sector supported by the Trinidad and Tobago Manufacturers’ Association (TTMA) continues to grow its contribution to the country’s GDP, with our ultimate goal to double the value of non-energy manufacturing exports by 2025, moving from TT$3.6 billon to TT$7 billion. TTMA continues to make strides in this area as the manufacturing sector’s contribution to GDP increased by 1.2%, moving from 18% in 2021 to 19.2% in 2022.
Our sector has been instrumental in shaping the future of Trinidad and Tobago, and its contribution to economic growth should not be understated, as highlighted by the IDB’s publication on 5th May 2023 which states, “In 2022, economic growth picked up led by the non-energy sector.”
TTMA supports our members by creating opportunities for them to grow and expand. Thus far in 2023 (Jan-June), we hosted trade missions, partnering both with exporTT and EximBank, to Grenada, Suriname and the Dominican Republic with expected trade missions to Saint Lucia, Antigua & Barbuda and Guyana carded for the balance of 2023.
Additionally, we hosted our Trade and Investment Convention (TIC) at the Centre of Excellence Macoya with our largest show since 2019. TIC 2023 allowed for the strategic Business-to-Business matchmaking meetings where introductions were made, relationships were strengthened and business was conducted. The show hosted 260 booths with 230 exhibitors and an estimated 12,000 visitors.
The Association works with the Government and other statutory organisations and state enterprises via our Secretariat and various Board Sub-Committees to create an enabling environment for business. One such recommendation to improve the ease of doing business is the Forex Facility at EximBank which was adopted by Government to alleviate the challenge of access to foreign exchange for members to purchase raw materials. We also continue to work with the respective agencies to combat crime such as in the area of illicit trade, partnering with the Trinidad and Tobago Police Service (TTPS) and other organisations. Additionally, we are instrumental in working operationally with exporTT on all aspects of the Export Booster initiative.
TTMA continues to ensure the manufacturing sector shapes a positive future for Trinidad and Tobago through our efforts in forging and strengthening partnerships with all functional and strategic stakeholders locally and internationally, which continue to the benefit of our members and the people of Trinidad and Tobago.
TTMA Building, 42 Tenth Avenue, Barataria, Trinidad
PO Box 971, Port of Spain, Trinidad
Tel: (868) 675-TTMA (8862); Fax: (868) 675-9000
Email: [email protected]; Website: ttma.com