Trinidad and Tobago: a strategic location for investing in the Americas: regional hub bidding to host FTAA secretariat.

With its strategic position at the crossroads of the Caribbean and North and South America, Trinidad and Tobago offers an ideal base to penetrate markets throughout the hemisphere. For international investors, Trinidad and Tobago offers a wealth of natural resources, a well-developed human resource base, and the benefits of trade agreements with countries throughout the region.

"We believe that Trinidad and Tobago offers the best investment environment in this part of the world," says Leon Lue Yat, executive officer in the Office of the President, Tourism and Industrial Development Company of Trinidad and Tobago Ltd. (TIDCO). "We are located in the center of what will become the largest trading bloc in the world."

Already a leader in the Caribbean Community (CARICOM) and the headquarters of the Association of Caribbean States (ACS), Trinidad and Tobago is bidding to host the permanent Secretariat of the Free Trade Area of the Americas (FTAA). "Bringing the Secretariat to our capital of Port of Spain will enhance our nation's reputation and desirability for investors of all types," says Lue Yat.

In a recent investment survey of 75 nations around the world, Trinidad & Tobago ranked in the top half of virtually all categories, according to the Global Competitiveness Report 2001-2002. The Survey of Investment Perceptions 2002 indicates that investment prospects within Trinidad and Tobago are also positive because of the nation's stable economy and exchange rate.

An English-speaking nation of 1.3 million with a stable political system and numerous incentives for investment, Trinidad and Tobago enjoys the benefits of a well-rounded economy, including manufacturing, oil and gas production, business services, tourism and agriculture. One nation comprised of two islands, Trinidad and Tobago is situated at the southern end of the Caribbean chain just off the coast of Venezuela, well below the hurricane belt.

TIDCO is working closely with the nation's government and the private sector to build "Brand TnT," and create worldwide recognition for Trinidad and Tobago. "The government has a clear vision for the transformation of Trinidad and Tobago into a developed country by 2020," says Lue Yat. "One of the key strategies is the positioning of Trinidad and Tobago as the manufacturing base and financial center of the Caribbean"

To achieve this goal, Trinidad and Tobago is strengthening its air and sea ties within the region, including additional airlinks with Latin America. In May and June, scheduled flights were introduced to Costa Rica and to Cuba, with flights to the Dominican Republic scheduled to begin in August. "Direct flights from Trinidad and Tobago to these countries will create more opportunities to promote and market Trinidad and Tobago as a destination for tourism, investment and trade in quality goods and services," says Lue Yat.

TIDCO is also capitalizing on other key advantages of investing in Trinidad and Tobago, including:

* Low energy costs

* High quality labor force

* Competitive wage rate packages

* Stable political and economic system

* Preferential access to large consumer markets

* Transshipment hub for shipping and freight services

* Good telecommunications infrastructure

* High quality of Life

"We have a very competitive cost structure, including the lowest electricity rates in the region, as well as low insurance costs, which benefit both manufacturing and service businesses," Lue Yat says. "We also have a hardworking, highly productive labor force with advantageous wage rates."

Many companies in Trinidad and Tobago have a long history of access to markets throughout the Caribbean, through direct investment, joint ventures or agency relationships, and are aggressively expanding their markets in the Latin American region. The nation's designation as a Caribbean Basin Initiative (CBI) beneficiary provides duty-free entry to the United States for a wide range of manufactured and agricultural products. As Trinidad and Tobago seeks to expand its economy, targeted sectors include:

* Manufacturing. Opportunities exist in food and beverage processing, metals processing, chemicals and plastics, and printing and packaging, according to Lue Yat.

* Oil and gas. The nation's hydrocarbon and natural gas reserves have enabled Trinidad and Tobago to become the most industrialized country in the Caribbean. International companies such as PCS Nitrogen Inc. (formerly Arcadian), Ferrostaal and Methanex have established successful petrochemical plants, and additional investment opportunities exist in downstream activities.

* Tourism. Trinidad enjoys a wide variety of bird, animal and plant life, while Tobago has white sand beaches, as well as coral and clear turquoise waters that attract divers and boaters. TIDCO is promoting investment in hotels, service providers, dive operations and eco-tourism businesses. Recent projects include a Courtyard by Marriott now under construction in Port of Spain.

* Marine industries. Pleasure boaters have been gradually discovering Trinidad and Tobago and its well-developed marinas and marine manufacturing industry. For yachters, Trinidad and Tobago offers calm offshore waters, lower-than-normal insurance rates, and low rates for maritime services.

Trinidad is also rich in teak, used in yacht interiors and exteriors. "We are encouraging investment in boat-building," adds Lue Yat,

* Information technology. Trinidad and Tobago has a modern telecommunications infrastructure with a user-friendly accent for call center operations. Microsoft Trinidad recently established operations here.

* Agriculture. Investment opportunities include value-added services like seafood processing, meatpacking and juice processing. In addition, Trinidad and Tobago has an ideal climate for many types of horticulture, floriculture and other crops. Pernod Ricard (T&T) Ltd., a French company, recently invested in anise cultivation.

* Film and entertainment. With African, East Indian, European, Chinese and Middle Eastern influences to draw upon, Trinidad and Tobago enjoys a varied culture that is attractive to television and film producers. The nation's musical resources extend from calypso to chutney-soca, rapso and parang.

Finally, Trinidad and Tobago offers a high quality life. "Our expatriates enjoy all the modern amenities and comforts of home," says Lue Yat, "as well as guaranteed warmth, sunshine, beaches, mountains, fishing, diving, golf, cricket and horse-racing. It's an unbeatable place to live."