The Trinidad and Tobago government announced Friday its intention to become the first Caribbean Community (CARICOM) country to enter into a partial scope trade agreement with India.
Prime Minister Kamla Persad Bissessar made the announcement during a joint sitting of Parliament held in honour of Indian Prime Minister Shri Narendra Modi.
Highlighting the strong ties between the two nations, Persad Bissessar said, “Both are vibrant, diverse democracies committed to inclusion, education, and progress, and our theme ‘Two Nations with Historical Bonds and a Shared Future’ is therefore a call to purposeful action.”
Bilateral trade between Trinidad and Tobago and India hit a record TT$1.2 billion in the last fiscal year. Trinidad and Tobago primarily exports energy products—including ammonia, liquified natural gas (LNG), and methanol—while importing pharmaceuticals, textiles, and industrial goods from India.
Looking forward, the Prime Minister said, “We aim to expand our exports to tap into India’s market of 1.4 billion consumers. We are also pursuing a partial scope trade agreement, the first from a CARICOM country, and laying the foundation for a new bilateral investment treaty.”
India, as the world’s most populous nation and a top-four economy, and Trinidad and Tobago, as the largest economy in the Eastern Caribbean and a gateway to CARICOM and Latin America, stand uniquely positioned to deepen their economic relationship.
