Business in Trinidad and Tobago

The objectives of the subject «Doing Business in Trinidad and Tobago» are the following:

1. To analyze the Trinidadian and Tobagonian Economy and International Trade;
2. To explore the Business Opportunities in Trinidad and Tobago;
3. To analyze the trade relations of Trinidad and Tobago with the country of the student;
4. To know the Free Trade Agreements of Trinidad and Tobago;
5. To develop a business plan for the Trinidadian and Tobagonian Market.

The Subject «Foreign Trade and Business in Trinidad and Tobago» belongs to the following Online Higher Educational Programs taught by EENI Global Business School:

Masters (MIB): International Business, Foreign Trade.

Doctorate (DIB): American Business, World Trade.

Learning materials in: ( Trinidad y Tobago Trinité-et-Tobago Trinidad e Tobago).

Preferential Access and Free Trade Agreements of Trinidad and Tobago:

1. Trinidad and Tobago and the Caribbean Economic Area;
2. Association of Caribbean States (ACS);
3. Caribbean Community (CARICOM)
   1. CARIFORUM-European Union Economic Partnership Agreement;
   2. Colombia-CARICOM Agreement (Trinidad and Tobago);
   3. CARICOM-Dominican Republic Free Trade Agreement (FTA);
   4. Costa Rica-Caribbean Community Agreement (Trinidad and Tobago);
   5. United Kingdom-CARIFORUM Free Trade and Economic Integration Agreement.
4. Caribbean Basin Initiative
   1. United States-Caribbean Basin Trade Partnership Act (CBTPA).
5. Caribbean-Canada Trade Agreement (CARIBCAN);
6. Global System of Trade Preferences among Developing Countries (GSTP).

1. World Trade Organization (WTO)
   1. WTO Agreement on Sanitary and Phytosanitary Measures (SPS);
   2. WTO General Agreement on Trade in Services (GATS);
   3. WTO Agreement on Technical Barriers to Trade (TBT);
   4. WTO Agreement on Preshipment Inspection (PSI);
   5. WTO Agreement on Safeguards (SG);
   6. WTO Trade Facilitation Agreement (TFA).
2. World Customs Organization (WCO)
   1. Revised Kyoto Convention (RKC).
3. International Bureau of Containers and Intermodal Transport (BIC);
4. International Civil Aviation Organization (ICAO, Chicago Convention);
5. International Maritime Organization (IMO);
6. Customs Convention on Containers (CCC, UN);
7. Convention on the Carriage of Goods by Sea (Hamburg Rules, UN).

American Trade and Economic Organizations:

1. Community of Latin American and Caribbean States (CELAC)
   1. European Union-CELAC Summit.
2. Organization of American States (OAS);
3. Economic Commission for Latin America and the Caribbean (ECLAC);
4. Inter-American Development Bank (IDB).

Global Organizations:

1. United Nations (UN)
   1. Conference on Trade and Development (UNCTAD);
   2. International Trade Centre (INTRACEN);
   3. World Intellectual Property Organization (WIPO).
2. World Bank (WB);
3. World Trade Organization (WTO);
4. International Monetary Fund (IMF);
5. Commonwealth;
6. ...

Trinidad and Tobago.

1. Trinidadian and Tobagonian Capital: Port of Spain;
2. Most populous city: Chaguanas (Trinidad Island), 84,000 people;
3. Trinidad and Tobago does not share land borders with any country;
4. Nearest countries to Trinidad and Tobago by sea: Barbados, Venezuela, Guyana and Grenada;
5. Area of Trinidad and Tobago: 5.128 square kilometers;
6. Population of Trinidad and Tobago: 1.380,000 inhabitants;
   1. Trinidadian and Tobagonian Population density : 255 inhabitants / square kilometers;
   2. 40% of the population has an African origin (African Diaspora).
7. Municipalities: Arima, Chaguanas, Point Fortin, Port of Spain, San Fernando;
8. Corporate regions: Couva-Tabaquite-Talparo, Diego Martín, Penal-Debe, Princes Town, Claro-Mayaro River, San Juan-Laventille, Sangre Grande, Siparia, Tunapuna-Piarco;
9. The official languages of Trinidad and Tobago are Spanish (since 2020) and English
   1. Spanish is increasingly used.
10. Abolition of Slavery in Trinidad and Tobago: 1834;
11. Climate of Trinidad and Tobago: tropical;
12. Trinidad and Tobago is far from the Atlantic hurricane area;
13. Main rivers: Ortoire and Caroni;
14. 1498: discovery by the Spanish (Tierra of the Santísima Trinidad=Land of the Holy Trinity);
15. 1802: British colonization;
16. Type of government: Parliamentary Republic;
17. Official name: Republic of Trinidad and Tobago;
18. Trinidad and Tobago became independent from the United Kingdom in 1962.

Main religion in Trinidad and Tobago: Christianity Protestantism.

1. Anglicans (40% of the population).

Trinidad and Tobago belongs to the Caribbean Economic Area of the Western Civilization.

Trinidadian and Tobagonian Economy.

1. Trinidadian and Tobagonian GDP: 44,654 million dollars;
2. Trinidad and Tobago has the third highest GDP per capita (measured by purchasing power parity) in America (after the United States and Canada);
3. World Bank ranking: high-income economy;
4. GDP per capita of Trinidad and Tobago: 32,530 Dollars;
5. The main natural resources are: oil, natural gas and bauxite;
6. Oil and gas represent 40% of the GDP and 80% of exports, but only generate 5% of total employment;
7. Trinidad and Tobago's main economic activities are: services, tourism, industry (refinery and petrochemical) and agriculture;
8. The main crops are sugar cane, honey, rum, cocoa, grains, citrus and coffee;
9. Trinidad and Tobago is an important financial centre of the Caribbean;
10. Trinidadian and Tobagonian Currency: Trinidad and Tobago dollar (TTD);
11. Country code top-level domain of Trinidad and Tobago: .tt.

Trinidadian and Tobagonian Foreign Trade

1. Main exports of Trinidad and Tobago: sugar, manufactured products and chemicals, molasses, rum, electrical components;
2. Main export markets of Trinidad and Tobago: France, the United States, Spain, Saint Lucia, Saint Vincent and the Grenadines, Venezuela, Antigua and Barbuda, Saint Kitts and Nevis;
3. Main imports of Trinidad and Tobago: oil, machinery, consumer goods, food, building materials, chemicals, electrical components;
4. Largest providers of Trinidad and Tobago: Russia, Japan, the United States, China and the United Kingdom;
5. Main port: Port of Spain.

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