TRINIDAD AND TOBAGO can be a mecca for trade and investment, says French Ambassador Didier Chabert, but the business environment needs to be improved.
In an interview with Business Day earlier this week, he said trade and economic relations between the two nations, established over 70 years ago, have been lucrative.
He said there has been a long tradition of friendship, co-operation, and many shared interests in areas such as trade, economics, security, environment, and culture, which must be strengthened.
“It is important for TT to improve its business environment, something that needs to be of strong concern to institutions. It is not my personal point of view, but in the World Bank’s ranking of doing business, TT placed at 105th position.
“There are many areas in which improvement is needed. It is very difficult to import and export, not because of the lack of willingness, but because the procedures are complex.
“There is need to improve some infrastructures such as stable WiFi and easy internet access. In the case of legal issues, access to the judicial system must also be easy. If TT wants to be at the forefront of the economy of the region, it needs to improve the climate of doing business.”
He said all these elements make up and were part of an environment which attracts international investors and some of the main priorities during his tenure were to maintain the political relationships, enhance security co-operation, strengthening the economy, and culture.
Chabert added TT’s economy can bounce back from the covid19 pandemic, as there were many opportunities for bilateral trade with France.
[caption id="attachment_945158" align="alignnone" width="1024"] A Perenco platform offshore Trinidad. French Ambassador Didier Chabert says TT can increase its exports of petroleum and fertilisers to France. -[/caption]
“People suffered a lot during the pandemic in terms of revenues, employment possibilities, (but) with the return of a normal life, we are hoping that foreign companies will come back to TT and the products will be easier to export. There are new trade possibilities, and we need now to reassess the situation and see how we can have stronger relations,” he explained.
Impact of Russia-Ukraine war
With the Russia-Ukraine war continuing, Chabert said France has issued four sanctions against Russia and was fully determined to put the pressure on for a peaceful resolution of the war.
“We see that the willingness of Russia to not engage in dialogue is because there was not enough pressure on the Russian economy.
“We want peace, but it can’t be at the cost of the Ukrainian population and the Ukrainian state. So we are open to dialogue. We are committed, as the president of the EU (has said), to maintain and search for a diplomatic way out of the crisis.”
The presidency of the European Union is currently held by France for a five-year term, which began in 2019.
Chabert said the impacts from the Russia-Ukraine war can be beneficial and positive for TT, if it acts swiftly in developing
