RESTRICTED  
  
WT/TPR/S/388  
27 March 2019  
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Trade Policy Review Body   
 
TRADE POLICY REVIEW  
REPORT BY THE SECRET ARIAT  
TRINIDAD AND TOBAGO  
This report, prepared for the fourth Trade Policy Review of Trinidad and Tobago, has been drawn up 
by the WTO Secretariat on its own responsibility. The Secretariat has, as required by the Agreement 
establishing the Trade Policy Review Mechanism (Annex 3 of the Marrakesh Agreement Establishing 
the World Trade Organization), sought clarification from Trinidad and T obago on its trade policies 
and practices.  
 
Any technical questions arising from this report may be addressed to M r. Masahiro Hayafuji 
(tel.: 022 739 5873), Ms Katie Waters (tel.: 022 739 5067), Ms Zheng Wang (tel.: 022 739 5288).  
 
Document WT/TPR/G/388 co ntains the policy statement submitted by Trinidad and Tobago.  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Note: This report is subject to restricted circulation and press embargo until the end of the first 
session of the meeting of the Trade Policy Review Body on Trinidad and Tobago. This report was 
drafted in English.  
  WT/TPR/S/388 • Trinidad and Tobago  
 
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  CONTENTS  
SUMMARY  ................................ ................................ ................................ .........................  8 
1   ECONOMIC ENVIRON MENT  ................................ ................................ .........................  12 
1.1   Main Features of the Economy  ................................ ................................ .....................  12 
1.2   Recent Economic Developments  ................................ ................................ ...................  14 
1.3   Developments in Trade and Investment  ................................ ................................ ........  18 
1.3.1    Trends and patterns in merchandise and services trade  ................................ ................  19 
1.3.1.1    Composition of trade  ................................ ................................ .............................  19 
1.3.1.2    Direction of trade  ................................ ................................ ................................ .. 19 
1.3.2    Trends and patterns in foreign direct investment  ................................ .........................  21 
2   TRADE AND INVEST MENT REGIMES ................................ ................................ ............  23 
2.1   General Framework  ................................ ................................ ................................ .... 23 
2.2   Trade Policy Formulation and Objectives  ................................ ................................ ........  23 
2.3   Trade Agreements and Arrangements  ................................ ................................ ...........  27 
2.3.1    WTO ................................ ................................ ................................ ......................  27 
2.3.2    Regional and preferential agreements  ................................ ................................ ........  29 
2.3.2.1    Regional trade agreements  ................................ ................................ ....................  29 
2.3.2.1.1    CARICOM  ................................ ................................ ................................ ..........  29 
2.3.2.1.2    CARIFORUM -EU Economic Partnership Agreement (CARIFORUM -EU EPA)  ..................  29 
2.3.2.1.3    CARICOM RTAs  ................................ ................................ ................................ .. 30 
2.3.2.2    Bilateral RTAs  ................................ ................................ ................................ ....... 31 
2.3.2.3    Global System of Trade Preferences  ................................ ................................ ........  32 
2.3.2.4    Preferential trade agreements  ................................ ................................ ................  33 
2.3.3    Investment regime  ................................ ................................ ................................ .. 34 
2.4   Business Environment  ................................ ................................ ................................ . 35 
2.4.1    E-Commerce  ................................ ................................ ................................ ...........  36 
3   TRADE POLICIES A ND PRACTICES BY MEAS URE ................................ .........................  38 
3.1   Measures Directly Affecting Imports  ................................ ................................ ..............  38 
3.1.1    Customs procedures, valuation, and requirements  ................................ .......................  38 
3.1.2    Rules of origin  ................................ ................................ ................................ .........  40 
3.1.3    Tariffs  ................................ ................................ ................................ ....................  41 
3.1.3.1    Structure  ................................ ................................ ................................ .............  41 
3.1.3.2    Tariff bindings  ................................ ................................ ................................ ...... 42 
3.1.3.3    Applied tariff  ................................ ................................ ................................ ........  43 
3.1.3.4    Import surcharges  ................................ ................................ ................................  46 
3.1.3.5    CARICOM Common External Tariff  ................................ ................................ ...........  47 
3.1.3.6    Tariff exemptions and suspensions  ................................ ................................ ..........  47 
3.1.3.7    Tariff preferences  ................................ ................................ ................................ .. 48 
3.1.3.8    Tariff quotas  ................................ ................................ ................................ .........  48 
3.1.3.9    Online Purchase Tax (OPT)  ................................ ................................ .....................  48 WT/TPR/S/388 • Trinidad and Tobago  
 
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  3.1.3.10    Tobacco Tax  ................................ ................................ ................................ ....... 48 
3.1.3.11    Environmental Tax on tyre imports  ................................ ................................ ........  49 
3.1.3.12    VAT and excise taxes  ................................ ................................ ...........................  49 
3.1.4    Import prohibitions, restrictions and licensing  ................................ .............................  49 
3.1.5    Anti-dumping, countervailing and safeguard measures  ................................ .................  52 
3.1.5.1    Anti-dumping and countervailing duties  ................................ ................................ ... 52 
3.1.5.2    Safeguards  ................................ ................................ ................................ ...........  52 
3.2   Measures Directly Affecting Exports  ................................ ................................ ..............  53 
3.2.1    Customs procedures and requirements  ................................ ................................ ....... 53 
3.2.2    Taxes, charges, and levies  ................................ ................................ ........................  53 
3.2.3    Export prohibitions, restrictions, and licensing  ................................ .............................  53 
3.2.4    Export support  ................................ ................................ ................................ ........  54 
3.2.4.1    Duty drawback  ................................ ................................ ................................ ..... 54 
3.2.4.2    Free-trade zones (FTZs)  ................................ ................................ ........................  54 
3.2.5    Export finance, insurance, and guarantees  ................................ ................................ .. 55 
3.2.6    Export promotion  ................................ ................................ ................................ ..... 56 
3.3   Measures Affecting Production and Trade  ................................ ................................ ....... 56 
3.3.1    Incentives  ................................ ................................ ................................ ...............  56 
3.3.1.1    Taxation  ................................ ................................ ................................ ..............  56 
3.3.1.2    Incentives  ................................ ................................ ................................ ............  59 
3.3.2    Standards and other technical requirements  ................................ ...............................  61 
3.3.2.1    Standards  ................................ ................................ ................................ ............  61 
3.3.3    Sanitary and phytosanitary requirements  ................................ ................................ .... 65 
3.3.4    Competition policy and price controls  ................................ ................................ .........  68 
3.3.4.1    Competition policy  ................................ ................................ ................................  68 
3.3.4.2    Consumer protection  ................................ ................................ .............................  68 
3.3.4.3    Price controls ................................ ................................ ................................ ........  69 
3.3.5    State trading, state -owned enterprises, and privatization  ................................ .............  70 
3.3.6    Government procurement  ................................ ................................ .........................  72 
3.3.7    Intellectual property rights  ................................ ................................ ........................  73 
3.3.7.1    Overview  ................................ ................................ ................................ .............  73 
3.3.7.2    Industrial property rights  ................................ ................................ .......................  74 
3.3.7.3    Copyright  ................................ ................................ ................................ .............  77 
3.3.7.4    Enforcement  ................................ ................................ ................................ .........  77 
4   TRADE POLICIES B Y SECTOR  ................................ ................................ ......................  79 
4.1   Agriculture  ................................ ................................ ................................ .................  79 
4.1.1    Features  ................................ ................................ ................................ .................  79 
4.1.2    Trade  ................................ ................................ ................................ .....................  80 
4.1.3    Agriculture poli cies ................................ ................................ ................................ ... 81 
4.1.3.1    Institutional arrangements and policy objectives  ................................ .......................  81 WT/TPR/S/388 • Trinidad and Tobago  
 
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  4.1.3.2    Border measures  ................................ ................................ ................................ .. 83 
4.1.3.3    Domestic support  ................................ ................................ ................................ .. 85 
4.1.3.4    Support levels  ................................ ................................ ................................ ...... 88 
4.1.3.5    Land policy  ................................ ................................ ................................ ...........  89 
4.2   Fisheries  ................................ ................................ ................................ ....................  89 
4.2.1    Overview and trade performance  ................................ ................................ ...............  89 
4.2.2    Policies  ................................ ................................ ................................ ...................  92 
4.2.3    Border measures  ................................ ................................ ................................ ..... 94 
4.2.4    Subsid ies and exemptions  ................................ ................................ .........................  94 
4.3   Mining and Energy  ................................ ................................ ................................ ...... 95 
4.3.1    Institutional, policy and legal framework  ................................ ................................ ..... 96 
4.3.1.1    Fiscal regime  ................................ ................................ ................................ ........  98 
4.3.1.2    Petroleum  ................................ ................................ ................................ ............  99 
4.3.1.3    Natural gas  ................................ ................................ ................................ ........  100 
4.3.1.4    Electricity  ................................ ................................ ................................ ...........  102 
4.4   Manufacturing  ................................ ................................ ................................ ..........  102 
4.5   Services  ................................ ................................ ................................ ..................  104 
4.5.1    Financial serv ices ................................ ................................ ................................ ... 105 
4.5.1.1    Banking  ................................ ................................ ................................ .............  105 
4.5.1.2    Insurance  ................................ ................................ ................................ ..........  107 
4.5.1.3    Securiti es ................................ ................................ ................................ ...........  110 
4.5.2    Telecommunications and broadcasting  ................................ ................................ ...... 111 
4.5.2.1    Structure  ................................ ................................ ................................ ...........  111 
4.5.2.2    Mobile telephony  ................................ ................................ ................................ . 111 
4.5.2.3    Fixed -line telephony  ................................ ................................ ............................  111 
4.5.2.4    Internet  ................................ ................................ ................................ .............  111 
4.5.2.5    Broadcas ting ................................ ................................ ................................ ...... 112 
4.5.2.6    Policy, legislative and regulatory framework  ................................ ...........................  112 
4.5.3    Transport  ................................ ................................ ................................ ..............  114 
4.5.3.1    Maritime transport  ................................ ................................ ..............................  114 
4.5.3.1.1    Shipping  ................................ ................................ ................................ .........  114 
4.5.3.1.2    Ports ................................ ................................ ................................ ..............  115 
4.5.3.2    Air transp ort ................................ ................................ ................................ ....... 116 
4.5.4    Tourism  ................................ ................................ ................................ ................  117 
5   APPENDIX TABLES  ................................ ................................ ................................ ... 120  
 
CHARTS  
 
Chart 1.1 Merchandise trade by main HS sections, 2012 and 2017  ................................ ........... 20 
Chart 1.2 Merchandise trade by main origin and destination, 2012 and 2017  ............................. 21 
Chart 2.1 US imports from Trinidad and Tobago, 2012 -17 ................................ ....................... 33 WT/TPR/S/388 • Trinidad and Tobago  
 
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  Chart 3.1 Frequency distribution of MFN ta riff rates, 2018  ................................ ....................... 45 
Chart 3.2 Tax structure, 2012 -17 ................................ ................................ ......................... 57 
Chart 3.3 Trademarks applications and registrations, 2012 -16 ................................ ................. 76 
Chart 3.4 Number of industrial design applications and registrations, 2012 -16 .......................... 76 
Chart 4.1 Real growth rates of the agriculture and other selected sectors, 2013 -17 .................... 79 
Chart 4.2 Agriculture gross production, 2010 -16 ................................ ................................ ....80 
Chart 4.3 Average tariff rates of WTO agricultural groups, and fish and fishery products  ............. 84 
Chart 4.4 Frequency distribution of agriculture tariff rates, 2018  ................................ .............. 84 
Chart 4.5 Annual lending by the ADB, 2012 -17 ................................ ................................ ......87 
Chart 4.6 Agriculture subsidies, FY2007/08 -2012/13  ................................ .............................. 88 
Chart 4.7 Fisheries imports  ................................ ................................ ................................ .91 
Chart 4.8 Fisheries exports  ................................ ................................ ................................ .92 
Chart 4.9 Total services exports and imports, 2012 -17 ................................ .........................  104 
 
TABLES  
 
Table 1.1 Main economic indicators, 2012 -17 ................................ ................................ ........ 12 
Table 1.2 Central government fiscal operations, 2012 -17 ................................ ........................ 14 
Table 1.3 Balance of payments, 2012 -17 ................................ ................................ .............. 16 
Table 1.4 Trade in services, 2012 -17 ................................ ................................ .................... 18 
Table 1.5 Direct investment flows, by sector, 2012 -17 ................................ ............................ 22 
Table 1.6 Direct investment flows, by country, 2012 -17 ................................ .......................... 22 
Table 2.1 Government bodies with trade and investment -related responsibilities  ....................... 24 
Table 2.2 Principal trade and investment -related laws, 2018  ................................ ................... 24 
Table 2.3 AfT framework, objecti ves and priorities, 2016 -19 ................................ ................... 27 
Table 2.4 Trinidad and Tobago's notifications to the WTO, January 2012 -July 2018  .................... 28 
Table 2.5 Summary features of CARICOM's RTAs in force, August 2018  ................................ ....30 
Table 2.6 Bilateral RTAs signed by Trinidad and Tobago  ................................ .......................... 32 
Table 3.1 Structure of tariff schedule, 2004, 2011 and 2018  ................................ ................... 41 
Table 3.2 Items for which the applied MFN tariffs exceed s the final bound rate, 2018  ................. 42 
Table 3.3 Summary analysis of the MFN tariff, 2018  ................................ ............................... 43 
Table 3.4 Specific duties, 2018  ................................ ................................ ............................ 46 
Table 3.5 Import surcharges 2012 -18 ................................ ................................ ................... 46 
Table 3.6 Tobacco Tax  ................................ ................................ ................................ ........ 49 
Table 3.7 Import licensing requirements, 2014  ................................ ................................ ......50 
Table 3.8 Exports requiring a licence, 2018 ................................ ................................ ........... 54 
Table 3.9 Services provided by EXIMBANK, 2018  ................................ ................................ ...55 
Table 3.10 Tax structure, 2012 -17 ................................ ................................ ....................... 56 
Table 3.11 Excise duties, 2018  ................................ ................................ ............................ 58 
Table 3.12 Incentives, 2018  ................................ ................................ ................................ 60 
Table 3.13 Standards in force, 2018  ................................ ................................ ..................... 64 WT/TPR/S/388 • Trinidad and Tobago  
 
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  Table 3.14 Profits/(loss) by sector, 2014 -17 ................................ ................................ .......... 71 
Table 3.15 Performance of some SOEs, 2017  ................................ ................................ ........ 71 
Table 3.16 WIPO -administered treaties  ................................ ................................ ................. 73 
Table 3.17 Patent applications and patents granted  ................................ ................................ 75 
Table 4.1 Top 10 exports of agricultural products, 2012 -17 ................................ ..................... 80 
Table 4.2 Top 10 imports of agricultural products, 2012 -17 ................................ ..................... 81 
Table 4.3 Border measures – tariffs  ................................ ................................ ...................... 83 
Table 4.4 Exports and imports of rum  ................................ ................................ ................... 85 
Table 4.5 Agriculture budget allocations, actual agriculture expenditures, and national  
budget allocations, 2012 -17 ................................ ................................ ................................ 85 
Table 4.6 Minimum guaranteed prices, 2018  ................................ ................................ ......... 86 
Table 4.7 Do mestic support to agriculture, 2008 –13 ................................ ............................... 88 
Table 4.8 Fisheries global production, 2010 -16 ................................ ................................ ......90 
Table 4.9 Major investment incentives to the fisheries sector  ................................ ................... 94 
Table 4.10 Contribution of the energy sector to the economy, 2010 -16 ................................ ....95 
Table 4.11 Petroleum and natural gas production and reserves, 2011 -17 ................................ ..96 
Table 4.12 Petroleum subsidy cla ims, levy payments, government liability, 2012 -18 ................  100 
Table 4.13 Atlantic LNG production and ownership structure, 2018  ................................ ........  101 
Table 4.14 LNG exports, 2012 -17 ................................ ................................ ......................  101 
Table 4.15 Main indicators of the manufacturing sector, 2012 -17 ................................ ...........  103 
Table 4.16 Investment incentives for the man ufacturing sector ................................ ..............  103 
Table 4.17 The financial system, June 2018  ................................ ................................ ........  105 
Table 4.18 Banking sector financial soundness indicators, 2013 -17 ................................ ........  106 
Table 4.19 Life and non -life insurance sectors' financial soundness indicators, 2013 -17 ............  108 
Table 4.20 Revenue foregone from tourism -related fiscal incentives, 2012 -17 .........................  118 
 
BOXES  
 
Box 2.1 Investment framework, as at January 2019  ................................ ............................... 35 
Box 3.1 Products affected by CET (Variation of Duty) O rders 2012 -18 ................................ ......48 
Box 3.2 Import prohibitions and restrictions, 2018  ................................ ................................ .50 
Box 3.3 FTZ operations, 2018  ................................ ................................ .............................. 55 
Box 3.4 Import restrictions, requirements and procedures for animals and animal  
carcases, 2018  ................................ ................................ ................................ .................. 66 
Box 3.5 Import restrictions, requirements and procedures for plants  ................................ ........ 67 
Box 4.1 Energy -related taxes, 2018  ................................ ................................ ..................... 99 
 
APPENDIX TABLES  
 
Table A1.1 Merchandise exports by HS sections and main chapters, 2012 -17 ..........................  120 
Table A1.2 Merchandise imports by HS sections and main HS chapters, 2012 –17 ....................  122 
Table A1.3 Merchandise exports by trading partner, 2012 -17 ................................ ................  124 WT/TPR/S/388 • Trinidad and Tobago  
 
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  Table A1.4 Merchandise imports by trading partner, 2012 -17 ................................ ................  125 
 
Table A2.1 General constitutional and legal framework  ................................ .........................  127 
 
Table A3.1 Origin restrictions under the Animals (Importation) Control Regulations  ..................  128 
 
Table A4.1 Major investment incentives to the agriculture sector  ................................ ...........  129 
Table A4.2 Energy sector tax incentives, 2018  ................................ ................................ ..... 131 
 
 
 
  WT/TPR/S/388 • Trinidad and Tobago  
 
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  SUMMARY  
1. Since its previous Trade Policy Review in 2012, the economy of Trinidad and Tobago has 
undergone three years of recession, due mainly to contractions in real economic activity in the 
energy sector (including oil and gas). During the period under review, real GDP  growth averaged 
around –1% annually. Against this background, GDP per capita declined to around USD  16,000 in 
2017, compared with around USD  19,000 in 2012. Government revenue, which is highly reliant on 
the petroleum sector, shrunk considerably, mirrored  by an increase in the fiscal deficit and the net 
public sector debt. Nevertheless, during this period, unemployment remained relatively static, and 
inflation declined. The real effective exchange rate appreciated during the same period, due mainly 
to high er domestic prices compared with those in the country's main trading partners.  
2. Trinidad and Tobago registered a current account surplus in 2017, at 7.4% of GDP, down from 
12.9% in 2012. Mineral products (including fuels) remain the largest export category;  their share 
declined over the review period, from 56% in 2012 to 45.5% in 2017. The United States is Trinidad 
and Tobago's top trading partner, for both imports and exports. Over the review period, investment 
inflows were volatile , with most foreign inves tment destined for the petroleum industries.  
3. It was against this economic backdrop that Trinidad and Tobago embarked upon renewed 
efforts to diversify, and enhance the competitiveness of, its economy , as well as to take other 
necessary reforms. Its priori ties are set out in various  strategy documents. The main plan guiding 
Trinidad and Tobago's overall social and economic development is Vision 2030: the National 
Development Strategy of Trinidad and Tobago 2016 -30. Additionally, Trinidad and Tobago released  
an Aid for Trade Strategy, as well as sector -specific policies to: develop e -commerce; create a 
modern special economic zones regime; encourage ICT development; reinvigorate the yachting 
industry; and build a more robust national quality system.  
4. Trinidad  and Tobago grants at least MFN treatment to all its WTO trading partners. Over the 
review period, it accepted the 2005 Protocol Amending the TRIPS Agreement and the 2014 Protocol 
concerning the Trade Facilitation Agreement. It was not involved in any disp ute settlement cases as 
either complainant or respondent; it was involved in one new case as a third party. While several 
notifications were submitted to the WTO in various areas, some are not up -to-date, or are 
outstanding.  
5. Trinidad and Tobago is a member  of the Caribbean Community (CARICOM) and, as part of it, 
has regional trade agreements (RTAs) in force with the Dominican Republic, Colombia, Cuba and 
Costa Rica. It is also a signatory to the CARIFORUM -EU Economic Partnership Agreement which is 
being pro visionally applied. Since 2012, a partial -scope trade agreement between Trinidad and 
Tobago and Panama entered into force. A similar agreement was signed with Guatemala.  
6. Trinidad and Tobago's rules on FDI have  not changed over the review period. N o investo r-state 
disputes were brought against Trinidad and Tobago. Efforts are being made by the Government to 
improve the country's business environment, which appears to be being held back by various factors, 
such as the workforce's skills, bureaucracy and corru ption. Apparently, e-commerce , while growing, 
is still not widely used by retailers or at a business -to-business level; however, a concern about the 
impact of increased consumer purchases of goods online from abroad prompted the Government to 
introduce a 7% Online Purchase Tax (OPT) in 2016 . According to the authorities, the OPT  is intended 
to curb  foreign exchange outflows and revenue leakage , and help local manufacturers and service 
companies compete with overseas retailers.  
7. Changes to customs procedures over the review period included the mandatory submission of 
advance passenger and cargo information. The requirement to use customs brokers' services 
remains in place, and the electronic submission of customs declarations is now, in practice, 
mandatory. Ad ditionally, in 2012, the Government launched its Single Electronic Window System 
(TTBizLink), which is envisaged to be fully implemented by 2021; it enables individuals and 
businesses to perform various operations online. The import - and export -related e -services now 
operational include import and export permit and licence applications, and applications for import 
duty concessions and origin certificates. These services have contributed to significant delivery -time 
improvements. This notwithstanding, port i nefficiencies have so far prevented Trinidad and Tobago 
from improving its international rankings for trading across borders. A pilot "voluntary compliance WT/TPR/S/388 • Trinidad and Tobago  
 
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  programme" was launched, which allows participants to print out their own cargo release orders. 
Around 30 -35% of imports are physically inspected.  
8. Trinidad and Tobago applies the CARICOM Common External Tariff (CET), with certain 
exceptions. The simple average applied MFN tariff in 2018 was 9.1%, which is considerably lower 
than the simple average bound tariff of 57%. The applied MFN rate exceeded the corresponding 
bound rate on 59 tariff lines in 2018, up from 50 in 2011; this increase is due to a change in the 
HS nomenclature. The authorities indicated that the broken bindings issue is being considered in the 
context of a CARICOM review of the CET and rules of origin. As per WTO sectoral definitions, average 
applied tariffs on agricultural products (17.9%) are higher than those on non -agricultural products 
(7.3%). During the review period, Trinidad and T obago used flexibilities under the CET to make tariff 
adjustments. In 2013, it introduced new import surcharges on nine poultry products, in addition to 
those already in place. Over the review period, new taxes introduced on imports included the OPT 
and an  environmental tax on tyre imports, introduced in December 2017.  
9. A new anti -dumping investigation was launched in 2014 into the alleged dumping of aluminium 
extrusions originating from China; this resulted in the imposition of final duties in February 2016 . 
No other investigations were initiated, no anti -dumping measures were being applied to any other 
products, and no countervailing duty investigations were taken during the review period. 
Trinidad  and Tobago continues to have no safeguard legislation.  
10. Trinidad and Tobago does not levy export taxes on any goods. There has been a considerable 
reduction in the cost and time taken to export, since the previous Review. The country continues to 
operate free -trade zones, with a view to generating employment, attra cting investment, and 
accessing overseas markets. However, due to the poor performance of the zones and other 
shortcomings, consideration is being given to establishing a new special economic zones regime. 
The Government is the sole provider of export cred it insurance through EXIMBANK . A new export 
facilitation agency (ExporTT) was set up in 2013 to provide services to exporters in the non -energy 
sector . 
11. Trinidad and Tobago has an excise tax, which applies to domestically -produced goods only. 
New developmen ts in the taxation area include : the reduction of VAT from 15% to 12.5%; the 
application of new  import  surcharges to nine poultry tariff headings in 2013; the establishment of a 
uniform royalty rate of 12.5% , applicable to oil, gas and condensates; the sta ndardization of 
corporate tax to 30% for all companies (apart from commercial banks , which are subject to a rate 
of 35%); and the introduction of a 7% OPT and an environmental tax on tyre imports. The 
Government provides a myriad of incentives  to businesse s based in the country . In the 2018 Budget 
Statement, the Minister of Finance proposed to re -establish certain export allowances to 
manufacturers; this has not been implemented in practice. In 2018, the EXIMB ANK launched the 
Forex Facility , with an initial  capitalization of USD 100 million, to secure foreign exchange for 
exporters of manufactures.  
12. There were no changes to Trinidad and Tobago's procedures for standard -setting; details of 
all voluntary standards and technical regulations are available online , and notifications to the WTO 
are up -to-date. During the review period, no specific trade concerns were raised in the WTO TBT 
Committee regarding Trinidad and Tobago's measures. A National Quality Policy and  its 
implementation plan were issued in 2018 to help businesses better exploit commercial opportunities.  
13. There were no changes to the laws governing Trinidad and Tobago's SPS regime, although 
legislative reforms , drawn upon CARICOM model laws , are being considered . No specific  trade 
concerns were raised in the WTO SPS Committee over the review period , and no WTO notifications 
were made. The authorities stated that Trinidad and Tobago's  SPS measures are based on 
international standards. A National Biosafety Policy was issued in 2014, th e objective of which is to 
develop an appropriate and transparent administrative, regulatory and legislative framework to 
govern the development and use of modern biotechnology products, including living modified 
organisms and their intended use in food, f eed and processing.  
14. A Fair  Trading Commission was established in 2014 to monitor and enforce provisions of the 
Fair Trading Act; the Commission has not yet been able to receive or investigate complaints , as the 
relevant provisions of the Act have not yet been proclaimed. A National Consumer Policy 2018 -23 
was approved by the Cabinet in 2018, and the Government is preparing a consumer protection bill. WT/TPR/S/388 • Trinidad and Tobago  
 
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  Price controls remain in place for petroleum, the transmission and distribution of electricity, water 
and wa ste water rates, and public transport fares, while minimum guaranteed prices apply to rice 
and milk.  
15. Trinidad and Tobago notified to the WTO in 2010 that the Cocoa and Coffee Industry Board 
(CCIB) was a state trading enterprise, which facilitated the purch ase of cocoa from farmers  and the 
sale thereof . In 2014, a new company replaced the CCIB, and the state trading arrangement under 
the CCIB was discontinued. It would appear that, after the restructuring of Petrotrin, a new entity – 
Paria Fuel – will be res ponsible for the importation of fuel. The State continues to maintain a 
significant economic presence , through fully or partially state -owned enterprises  (SOEs),  in the areas 
of energy, agriculture, manufacturing, and services. Many SOEs receive significan t subsidies from 
the Government. The Government has been exploring PPP projects to revitalize the loss -making 
SOEs.  
16. Trinidad and Tobago is neither a party to , nor an observer of , the Plurilateral Agreement on 
Government Procurement. Open tenders are adver tised both locally and internationally ; they are 
open to anyone, irrespective of nationality. Preferences are provided to SMEs. The public 
procurement system is undergoing a major overhaul , as a new Act is to repeal and replace the 
existing legislation.  
17. There were no  significant changes to Trinidad and Tobago's  intellectual property rights ( IPR) 
protection system since its previous Review. The only legislative change was the promulgation of 
the Trade Marks Act , 2015, which contains, inter alia , provisions on non -traditional marks. 
Compulsory licen ces are allowed under the Patents Act and the New Plant Varieties Act; there have 
been no applications of compulsory licen ces since the previous Review. Parallel imports are allowed 
under patent and trademark legis lation, but not under copyright legislation. The first geographical 
indication was filed in 2017, concerning cocoa and cocoa products. IPR enforcement is the 
responsibility of the police and the Customs and Excise Division. The Intellectual Property Office  
(IPO) develops and administers IPR policy. It launched a public awareness and education campaign, 
Building Respect for IP, to reduce the demand for pirated and counterfeit products. It also organized 
IP Clinics to inform entrepreneurs and innovators of th e various IP aspects of their businesses, as 
well as the next steps needed  to acquire those rights and leverage them for improved 
competitiveness.  
18. Agriculture constituted  only 0.5% of GDP in 2017, but was an important component of trade , 
accounting for 10%  of total merchandise exports and 13% of total merchandise imports  in the same 
year. Government support includes minimum guaranteed prices, investment incentives and input 
subsidies, and low -interest loans. Trinidad and Tobago is a net fish importer: the f isheries sector is 
mainly artisanal. Dominated by marine fisheries, the fisheries sector accounted for a very tiny share 
of GDP and employment. At the border, the simple average MFN tariff rate on fish and fishery 
products (29.6% in 2018) is not only highe r than that on non -agricultural tariff lines (7.3%), but is 
also higher than that on agricultural tariff lines (17.9%).  
19. Manufacturing, comprising mainly petroleum and chemical production  and food, beverages 
and tobacco production, accounted for less than one fifth of GDP. More incentives are being provided 
to the sector, in particular the Forex Facility , established to enable exporters of manufactured goods 
to obtain foreign exchange .  
20. The oil and natural gas sector is the main pillar of Trinidad and Tobag o's economy, but  it 
suffered a dramatic decline over the review period,  due to falling energy prices . Mining and quarrying 
accounted for 21.6% of GDP in 2012 and this fell to 9.7% in 2016, recovering slightly thereafter . In 
response to the crisis and other  key challenges, particularly falling production, domestic supply 
shortages and external trends, government measures have included fiscal reforms and asset sales. 
The state -owned company Petrotrin was restructured , and its refining arm is being shut down. 
Renewed efforts are being made to enhance local content, participation and ownership in the energy 
sector. The State continues to have a full or partial equity stake in various energy companies. 
Electricity prices are regulated , and a petroleum subsidy rem ains in place to ensure low and stable 
consumer prices.  
21. The services sector accounted for nearly 60% of GDP in 2017, up from 46% in 2010. In terms 
of export value, the main services subsectors are travel, transport, insurance and technical WT/TPR/S/388 • Trinidad and Tobago  
 
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  trade -related an d other business services. Trinidad and Tobago continues  to have a deficit in services 
trade, and import values are double those  of exports.  
22. Despite the economic recession, the financial services sector remained stable. It accounts for 
about 8% of GDP and 10% of the work force. Banks are well -capitalized and profitable; both the 
return on equity  and the return on assets  went up during the review period , and the non-performing 
loan ratio declin ed. Commercial banks, operating a high interest rate spread, obta in profits mainly 
from interest margins. Liquid funds of commercial banks declined, but remained  on a healthy level, 
probably caused by banks using liquid assets to meet large withdrawals from government -related 
entities. According to the Central Bank's Fi nancial Stability Report, these withdrawals might be the 
consequence of the G overnment's fiscal consolidation efforts , and lower subsidies  to some public 
bodies. More than a quarter of loans and investments from commercial banks go to the State or 
SOEs. The insurance sector remained resilient , despite large claims after the 2017 hurricane. A new 
Insurance Act , 2018 is to come into force once its implementing regulations are finalized.  
23. Penetration rates for mobile and fixed telephony , as well as mobile and fixed Internet , have 
posted growth over the review period. While the sector is open to foreign investment, the State 
continues to have an indirect equity stake in one of the main operators providing both fixed and 
mobile telephony services. Mobile and fixe d telecommunications rates are amongst the lowest in the 
Caribbean region . Since 2012, new pro -competitive regulations were issued to require accounting 
separation and number portability. Additionally, a universal service scheme was operationalized.  
24. The legal and regulatory regimes for air and maritime transport did not change over the review 
period. As before, foreign investment opportunities are more restricted in the air transport sector 
than in maritime. Over the review period , the Port Authority of Trinidad and Tobago was restored to 
profitability after several years of operating at a loss; however , the Inter -Island Ferry Service that 
it runs still needs to be heavily subsidized. Trinidad and Tobago is looking to develop the segment 
of vessel repair and maintenance , through policy and infrastructure reforms; this would supplement 
the customs duty exemptions that are already available  for the sector . 
25. The tourism sector continues to be dominated by arrivals from North America and the 
Caribbean.  Various incentives remain in place to support tourism projects and upgrade the tourism 
infrastructure; the only change to these was to circumscribe the types of vehicles that may be 
imported at preferential rates  for use in the tourism transportation indust ry. In 2012, a new 
development fund was set up to assist operators on the island of Tobago to meet their loan 
repayments during periods of low occupancy.  
 
  WT/TPR/S/388 • Trinidad and Tobago  
 
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  1  ECONOMIC ENVIRONMENT  
1.1  Main Features of the Economy  
1.1.  Since its previous Trade Policy Review in 2012, the economy of Trinidad and Tobago has 
undergone three years of recession, led mainly by contractions in real economic activity in the energy 
sector. The performance of the sector mainly reflected lower global crude oil prices from around 
2014. Trinidad an d Tobago also experienced energy supply shocks, which further exacerbated the 
effects of falling energy prices.1 During the period under review, real GDP growth averaged around 
–1% annually (Table 1.1); the economy contracted in 2014, 2016 and 2017. Real G DP growth is 
forecast to be -0.7% in 2018. GDP per capita in US dollar terms declined to around US D 16,000 in 
2017 compared with around US D 19,000 in 2012. Trade continues to play an important role in the 
economy, with total merchandise trade accounting fo r around 72% of GDP in 2017. The 
unemployment rate was 4.8% in 2017, compared with 4.9% in 2012 and 4.0% in 2016 . In recent 
years, inflation has been declining.  
Table 1.1 Main economic indicators, 2012 -17 
 
2012 2013  2014  2015  2016  2017a 
GDP at purchaser price (current TTD million)  165,686 174,661 176,109 160,210 145,027 150,847 
GDP at purchaser price (current USD million)  25,769 27,110 27,478 25,121 21,747 22,250 
Real GDP growth (% based on constant 2012 
prices)  1.3 2.0 -1.0 1.8 -6.5 -1.9 
GDP per capita (current USD) - CALCULATED - 19,300 20,223 20,425 18,613 16,062 16,401 
GDP by economic activity (as a share of current GDP at purchaser price)  
Agriculture, forestry and fishing  0.4 0.4 0.3 0.4 0.5 0.5 
Mining and quarrying  21.6 23.1 21.5 13.7 9.7 12.6 
Manufacturing  19.5 15.4 16.0 15.1 17.1 15.7 
 Food, beverages and tobacco products  3.2 3.3 3.4 4.8 5.1 4.8 
 Textiles, clothing, leather, wood, paper  
 and printing  1.0 0.8 0.6 0.6 0.6 0.5 
 Petroleum and chemical products  14.0 9.8 10.6 8.4 10.0 8.9 
 Other manufactured products  1.4 1.6 1.5 1.3 1.5 1.4 
Electricity and gas  3.2 3.4 3.5 2.3 1.0 1.7 
Water supply and sewerage  1.3 1.3 1.2 1.4 1.5 1.6 
Construction  5.3 5.4 5.5 6.1 6.4 5.9 
Services  46.8 49.4 50.5 58.0 61.6 60.4 
 Trade and repairs  19.1 21.1 21.9 23.3 23.7 21.6 
 Transport and storage  3.3 3.2 2.9 3.3 3.8 3.9 
 Accommodation and food services  1.3 1.3 1.4 1.6 1.7 1.7 
 Information and communication  2.4 2.3 2.5 2.5 2.7 2.5 
 Financial and insurance activities  5.7 5.7 5.6 6.3 7.1 8.6 
 Real estate activities  1.8 1.7 1.7 1.9 2.2 2.1 
 Professional . scientific and technical services  1.5 1.7 1.7 1.9 2.1 2.1 
 Administrative and support services  1.9 2.5 2.2 3.7 4.1 4.2 
 Public administration  6.5 6.7 7.2 8.9 9.9 9.6 
 Education  2.2 2.2 2.1 3.1 2.8 2.6 
 Human health and social work  0.4 0.4 0.4 0.5 0.5 0.5 
 Arts, entertainment and recreation  0.2 0.3 0.3 0.3 0.3 0.2 
 Other service activities  0.4 0.4 0.4 0.5 0.6 0.6 
 Domestic services  0.1 0.1 0.1 0.2 0.2 0.2 
Less FISIMb -1.9 -1.9 -1.9 -2.1 -2.4 -2.7 
GDP at basic pricesc 96.1 96.5 96.7 95.1 95.5 95.8 
Taxes less subsidies on products  3.9 3.5 3.3 4.9 4.5 4.2 
                                                
1 During the review period, the production of crude oil and condensate deteriorated on account of the 
natural decline in output from mature fields, the lack of additional output from new sources or recent 
discoveries , and the sector's ag eing infrastructure . Natural gas production also declined during the review 
period (Table 4.11).  WT/TPR/S/388 • Trinidad and Tobago  
 
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2012 2013  2014  2015  2016  2017a 
GDP by economic activity (real growth rate based on constant 2012 prices)  
Agriculture, forestry and fishing  -0.1 -2.0 -9.9 25.1 -15.3 21.5 
Mining and quarrying  -1.4 2.0 -0.9 -3.2 -13.2 0.9 
Manufacturing  -0.8 0.9 -3.3 0.9 -3.4 -2.6 
 Food, beverages and tobacco products  6.0 -1.1 -2.8 2.6 9.7 -12.0 
 Textiles, clothing, leather, wood, paper and 
 printing  -10.4 -3.1 -5.9 -9.6 -6.6 -1.6 
 Petroleum and chemical products  -4.7 1.6 -3.9 1.9 -4.5 -0.1 
 Other manufactured products  30.2 1.4 3.2 -6.6 -20.7 -4.3 
Electricity and gas  -1.2 2.2 -3.6 1.8 -8.1 8.7 
Water supply and sewerage  2.5 -3.3 -5.5 1.5 1.7 1.5 
Construction  -2.0 7.7 1.3 -2.7 -4.2 -4.1 
Services  3.2 4.7 0.3 2.2 -1.9 0.8 
 Trade and repairs  -0.7 0.5 0.3 3.6 -7.2 -11.3 
 Transport and storage  14.4 10.8 4.5 -4.5 -16.9 6.4 
 Accommodation and food services  -3.0 1.8 0.7 -1.2 -2.0 -1.3 
 Information and communication  14.4 2.1 1.0 2.4 -2.3 -1.6 
 Financial and insurance activities  3.0 2.1 0.2 3.4 2.4 0.9 
 Real estate activities  3.0 0.5 0.3 0.5 0.5 0.4 
 Professional, scientific and technical services  3.0 14.1 2.7 -14.3 -2.4 5.6 
 Administrative and support services  2.6 26.5 -12.4 36.5 -2.4 5.2 
 Public administration  1.0 1.2 3.7 1.4 2.1 0.6 
 Education  -0.6 2.2 2.4 2.1 2.7 2.5 
 Human health and social work  2.6 0.4 0.4 0.3 0.3 0.2 
 Arts, entertainment and recreation  -0.6 0.4 0.4 0.3 0.3 0.2 
 Other service activities  2.6 0.6 1.1 0.0 0.7 -1.4 
 Domestic services  2.6 1.3 1.3 1.2 1.2 1.1 
Less FISIMb -15.6 5.1 -0.6 3.2 1.3 -1.5 
GDP at basic pricesc 0.4 2.5 -0.7 0.9 -6.0 -1.8 
Taxes less subsidies on products  18.0 -11.2 -8.8 29.2 -19.4 -2.4 
Prices        
Index of retail price (January 2015=100)  87.0 91.6 96.8 101.3 104.4 106.4 
Inflation (%)  9.3 5.2 5.7 4.7 3.1 1.9 
Money supply (USD million)        
Narrow money (M1)  5,549 6,228 7,446 6,939 6,805 6,492 
Broad money (M2)  11,015 11,957 13,594 13,465 13,291 12,797 
Interest rates (%)        
Central Bank 3 -month Treasury Bill (debt 
management)  0.4 0.1 0.1 1.0 1.1 1.2 
Central Bank repo rate  2.8 2.8 3.3 4.8 4.8 4.8 
Commercial banks 3 -month deposits  0.2 0.4 0.4 0.4 0.4 0.4 
Commercial banks  12-month deposits  0.7 0.8 0.8 0.8 0.8 0.8 
Governme nt bonds . 10-year yield (end of year)d 3.4 2.5 2.7 3.9 4.4 4.3 
Employmente       
Labour force ('000)  646.0 650.1 658.6 645.3 638.3 633.7 
Unemployment rate (%)  4.9 3.7 3.3 3.4 4.0 4.8 
Memorandum items        
Nominal exchange rate (TTD per USD, period 
average)  6.4 6.4 6.4 6.4 6.7 6.8 
Real effective exchange rate (2005=100)  107.1 111.2 117.2 129.7 128.3 125.3 
Terms of trade (1985=100, % change)  0.3 -0.2 0.6 4.8 0.5 -1.0 
Crude oil price (USD/barrel)  105.0 104.1 96.2 50.8 42.8 52.8 
Natural gas price (USD/MMBtu)f 10.4 10.5 10.7 6.8 5 5.1 
Population ('000)  1,335 1,341 1,345 1,350 1,354 1,357 
a Provisional data.  
b Financial Intermediation Services Indirectly Measured.  WT/TPR/S/388 • Trinidad and Tobago  
 
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  c The basic price is the amount receivable by the producer as output minus any tax payable, plus any 
subsidy receivable. It excludes any transport charges invoiced separately by the producer.  
d Yields from 2010 to 2013 are based on the CBTT Research GORTT Yield Curve. Yields from 2014 ar e 
from the Standardized TT Treasury Yield Curve.  
e Until 2017 3 rd quarter.  
f Average of Henry Hub and Asian LNG prices.  
Source:  Central Bank of Trinidad and Tobago, IMF Country Report Nos. 17/352 and 18/285, IMF 
International Financial Statistics, and data  provided by the authorities.  
1.2.  With limited reserves of hydrocarbons and a significant drop in government revenue from them, 
the authorities recognize that further reform is urgently needed to diversify the economy. Against 
this b ackground, the authorities introduced "Vision 2030; The National Development Strategy of 
Trinidad and Tobago 2016 -30", which aims, inter alia , at building globally competitive businesses 
(Section 2).  
1.2  Recent Economic Developments  
1.3.  The Go vernment  has continued to be highly reliant on the energy sector  for revenue . Trinidad 
and Tobago's government revenue has been declining since the fiscal year 2014/15, reflecting falling 
global oil prices from 2014. Total revenue as a proportion of GDP has been declining since 2015/16 
to 25.1% in 2016/ 17 (based on T able 1.2).2 Total expenditure as a proportion of GDP peaked in 
2014/15 at 37.4% and dropped to 33.5% in 2016/17. The fiscal deficit as a proportion of GDP 
increased from 2.1% in 2011/12 to 8.4% in 2016/17, and the net public sector debt as a percentage 
of GDP increased to 62.1% in 2016/17 compared with 38.7% in 2011/12.  
Table 1.2 Central government fiscal operations, 2012 -17a 
(TTD million and %)   
2011/12  2012/13  2013/14  2014 /15 2015/16  2016/17  
Total revenue and grants  49,310  52,782  58,397  57,262  44,973  37,836  
Current revenue  49,267  52,281  57,081  52,272  41,159  36,136  
 of which:  energy sector  26,923  26,421  28,057  19,767  8,278  9,039  
 Tax revenue  43,569  44,642  47,287  42,298  29,733  27,825  
 Tax on  income and profits  33,105  33,509  36,752  29,974  17,668  16,986  
 Companies  24,473  24,447  27,120  19,994  8,040  7,985  
 Oil 15,827  14,772  16,970  10,513  1,036  1,078  
 Other  8,646  9,675  10,151  9,481  7,003  6,907  
 Individuals  5,435  6,207  6,620  7,445  7,187  6,403  
 Withholding taxes  1,084  885 942 1,067  990 855 
 Health surcharge  187 218 210 264 226 202 
 Business levy  294 187 210 215 438 644 
 Unemployment fund  1,259  1,163  1,240  601 131 59 
 Green fund  347 370 381 346 612 791 
 Taxes on property  5 4 4 3 3 3 
 Taxes on goods and services  7,926  8,295  7,384  8,904  8,716  7,938  
 Taxes on international trade  2,319  2,588  2,862  3,014  3,016  2,583  
 Stamp duties  214 246 285 403 329 315 
 Non-tax revenue  5,698  7,639  9,794  9,974  11,426  8,311  
 Royalty on oil  2,449  2,380  2,399  1,101  520 1,050  
 Profits - state enterprises  1,347  1,978  5,357  6,232  5,153  3,134  
 Profits - national lottery  246 180 263 170 178 306 
 Production sharing  0 800 0 450 1,000  1,300  
 Equity profits - Central Bank  479 555 393 177 809 714 
 Interest income  60 38 32 40 41 27 
 Repayment of past lending  32 22 18 28 2,681  32 
                                                
2 Revenue as a proportion of GDP for a fiscal year is calculated by dividing the revenue for the fiscal 
year a/b by the GDP for the calendar year b , e.g. the revenue of 2016/17 is divided by the GDP of 2017. The 
same methodology applies for expenditure and fiscal balance.  WT/TPR/S/388 • Trinidad and Tobago  
 
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2011/12  2012/13  2013/14  2014 /15 2015/16  2016/17  
 Administrative fees and 
 charges  419 523 804 636 503 642 
 Capital revenue  43 501 1,317  4,989  3,814  1,700  
 of which:  grants  1 82 151 92 207 30 
Total expenditure  52,839  57,962  62,839  59,971  52,945  50,479  
Current expenditure  45,819  49,500  54,404  52,323  48,546  46,908  
 Wages and salaries  7,282  9,172  8,591  10,077  9,602  10,022  
 Goods and services  7,062  7,180  8,009  8,105  7,326  5,914  
 Interest payments  2,937  2,809  3,123  3,438  3,762  4,538  
 Domestic  2,548  2,437  2,662  2,916  3,200  3,621  
 External  389 371 461 523 563 917 
 Transfers and subsidies  28,538  30,340  34,664  30,702  27,856  26,435  
Capital expenditure  7,020  8,462  8,453  7,649  4,398  3,572  
 Development programme 
 (PSIP)  3,336  3,315  3,631  4,064  2,927  1,875  
 Infrastructure development 
 fund 3,684  5,147  4,805  3,584  1,471  1,697  
 Acquisition of foreign fixed 
 assets  0 0 18 0 0 0 
Current account balance  3,447  2,780  2,677  -51 -7,388  -10,772  
Overall balance  -3,529  -5,180  -4,442  -2,710  -7,972  -12,644  
Financing requirements  4,530  5,180  4,442  2,710  7,972  12,644  
 External financing (net)  1,054  -155 3,312  -199 8,954  3,248  
 Domestic financing (net)  2,475  5,335  1,130  2,909  -982 9,396  
Memorandum items        
Net public sector debtb 64135.5  65296.4  70280.9  76541.2  87508.2  93742.4  
Central governme nt debt  36546.2  37188.4  41498.8  44708.8  56248.3  64021.7  
Central governme nt debt service  3608.1  5092.4  5157.9  5648.5  4429 7448.3  
Net public sector debt (% of 
GDP) 38.9 38.1 40.3 49.2 58.8 62.6 
Central government debt (% of 
GDP) 22.2 21.7 23.8 28.7 37.8 42.8 
Ratio of total public sector 
external debt to exports of 
goods and services (%)  11.9 9.8 14.3 19.7 37.8 33.7 
a Fiscal year, from October to September of the following year.  
b Treasury bills, treasury notes, treasury bonds and sterilized bonds issued for Open Market 
Operations (OMOs) are not included.  
Source:  Ministry of Finance, Review of the Economy 2017; and IMF Count ry Report No. 18/285, 
September  2018.  
1.4.  The Government has continued its fisca l consolidation efforts by increasing tax revenue 
through, for example, the reform of royalty3 and corporate tax4 structures, in addition to focusing 
on enhancing revenue collection through, for example, increased penalties for non -compliance . 
Measures to decrease expenditure include the reduction of transfers to loss -making public bodies 
and state -owned enterprises , and a  fuel subsidies reduction ( Sections 3.3.5 and 4. 3). The authorities 
are planning to introduce a medium -term fiscal framework , and establish a revenue authority 
(Section 2) and a Tax Policy Unit within the Ministry of Finance.  
1.5.  The Centra l Bank's monetary policy has objective s to maintain: (1)  a low and stable rate of 
inflation; (2) an orderly foreign exchange market; and (3) an adequate level of foreign exchange 
reserves.5 The main monetary policy instruments adopted by the Central Bank include Open Market 
Operators , and the use of the repo rate (policy rate) and statutor y reserve requirements. In 
June 2018, the Central Bank incr eased its policy rate by 25 basis points to 5.00% , with a view to 
                                                
3 Royalties were unified at 12.5% in October 2017 ( Section 4.3). 
4 The base corporate tax rate was raised to 30% in January 2018 ( Section 3.3 .1.1).  
5 Central Bank online information. Viewed at: https://www.central -bank.org.tt/core -functions/monetary -
policy . WT/TPR/S/388 • Trinidad and Tobago  
 
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  support ing the economy under low inflation conditions and to reflect ing higher international interest 
rates, particu larly in the United  States.  
1.6.  The Central Bank intervenes in the foreign exc hange market to maintain stability. The IMF 
classified Trinidad and Tobago's exchange rate system as a "stabilized arrangement", resulting in 
the Trinidad and Tobago dollar being de facto  pegged to the U S dollar.6 During the period under 
review, the nomina l exchange rate depreciated slightly, from TT D 6.4/US D in 2012 to TT D 6.8/US D 
in 2017. The real effective exchange rate appreciated during the same period , due mainly to higher 
domestic prices compared with those in the count ry's main trading partners. Thi s appreciation 
implies that Trinidad and Tobago's exports have become  less competitive.  
1.7.  Inflation , as measured by the retail price index (RPI) , has recently been declining (1.9% in 
2017 compared with 9.3% in 2012). The authorities state that primary contributors were a sharp 
reduction in food price inflation, which slowed to 2.9% in 2017 from 19.1% in 2012, and the ease 
in inflationary pressure i n housing. The decline  in headline inflation was also largely driven by the 
slowdown in food inflation, as core inflation remained relatively stable. The authorities consider that 
the weaker inflationary environment over 2017 underscores the challenging ec onomic environment 
and weaker consumer demand in recent years.  
1.8.  Trinidad and Tobago's current account surplus decreased from USD  3.3 billion in 2012 to 
USD 1.6 billion in 2017 (7.4% of GDP), reflecting a narrowing of the gap between gross national 
savings a nd gross domestic investment (Table 1.3). During the review period, the current account 
surplus peaked at around 20% of GDP in 2013, before the global oil price started to decrease in 
2014. During the review period, the country's trade surplus was at a pea k in 2013 and declined 
subsequently until 2016; the surplus recovered in 2017 to around the level of 2015.  
Table 1.3 Balance of payments, 2012 -17a 
(USD million)  
 2012  2013  2014  2015  2016  2017b 
Current account  3,324  5,410  4,003  1,853  -860 1,649  
Goods and services, net  5,582  6,949  5,746  2,133  -614 1,430  
 Goods, netc 7,093  8,317  7,045  3,884  1,197  3,519  
 Exports  16,325  17,593  14,965  11,414  8,285  9,970  
 Energy  13,190  14,036  12,491  8,767  6,431  7,634  
 Non-energy  3,135  3,557  2,473  2,647  1,855  2,336  
 Importsd 9,232  9,276  7,919  7,529  7,089  6,452  
 Fuelse 2,958  3,628  2,068  1,456  1,542  1,618  
 Other  6,274  5,648  5,851  6,073  5,546  4,834  
 Services, net  -1,511  -1,368  -1,300  -1,751  -1,811  -2,089  
 Exports  1,395  1,283  1,459  1,192  1,028  1,102  
 Importsd 2,906  2,651  2,759  2,944  2,839  3,191  
Primary income, net  -2,296  -1,567  -1,725  -242 -302 171 
 Primary income, receipt s 500 387 344 538 546 533 
 Compensation of employees  0 1 9 3 1 0 
 Investment income  500 386 336 535 545 533 
 Primary income, payment s 2,796  1,953  2,070  780 848 363 
 Compensation of employees  109 81 97 104 241 279 
 Investment income  2,688  1,872  1,972  676 607 84 
Secondary income, net  39 28 -17 -38 56 49 
Capital account  0 0 0 0 0 1 
Financial account  4,109  12 -67 485 -1,304  575 
Direct investment  2,094  1,192  -679 -48 106 550 
 Net acquisition of financial assets  189 63 -18 128 83 94 
 Net incurrence of liabilities  -1,904  -1,130  661 177 -24 -456 
 Portfolio investment  1,588  185 654 799 -1,403  384 
 Net acquisition of financial assets  1,131  617 746 672 -97 235 
 Net incurrence of liabilities  -457 431 92 -128 1,306  -149 
Financial derivatives  -3 4 -3 -1 0 5 
 Net acquisition of financial assets  -2 4 -2 -2 0 4 
                                                
6 IMF (2017) , Report on Exchange Rate Arrangement . WT/TPR/S/388 • Trinidad and Tobago  
 
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   2012  2013  2014  2015  2016  2017b 
 Net incurrence of liabilities  0 0 1 -1 0 0 
Other investment  430 -1,370  -39 -264 -7 -364 
 Net acquisition of financial assets  -272 -1,427  255 -707 -115 184 
 Other equity  0 0 108 1 6 0 
 Currency and deposits  408 -1,220  60 -242 -229 247 
 Loans  -66 -207 26 -178 55 177 
 Trade credit and advances  -273 140 -139 -148 -59 -40 
 Other accounts receivable  -340 -140 199 -140 112 -200 
 Net incurrence of liabilities  -701 -57 294 -442 -107 548 
 Other equity  0 0 0 0 0 0 
 Currency and deposits  27 66 -8 74 -5 -68 
 Loans  -109 190 -132 -446 -89 455 
 Trade credit and advances  -374 -59 272 34 -11 210 
 Other accounts payable  -244 -259 198 -88 -11 -75 
 Special drawing rights  -2 5 -36 -16 9 26 
Net errors and omissions  172 -4,593  -2,749  -2,932  -911 -2,171  
Overall balance  -612 805 1,321  -1,564  -467 -1,096  
Memorandum items        
Current account (% of GDP at purchaser 
prices)  12.9 20.0 14.6 7.4 -4.0 7.4 
Overall balance (% of GDP at purchaser 
prices)  -2.4 3.0 4.8 -6.2 -2.1 -4.9 
Gross official reservesf (USD million)  9,371  10,176  11,497  9,933  9,466  8,370  
Import cover (months)f 10.6 12.2 12.9 11.2 10.5 9.7 
a Totals may not add up  due to rounding.  
b Provisional data.  
c Energy goods data for 2011 -17 comprise estimates by the Central Bank.  
d Imports are reported on a Free on Board ( FOB) basis.  
e Includes petr oleum, petroleum products and related materials. This differs from previously published 
energy imports , which included imports of chemicals and related products. Energy exports include 
exports of petroleum, petroleum products and related materials , and pet rochemicals.  
f End of period.  
Source:  Central Bank.  
1.9.  The financial account fluctuated during the review period; compared with 2012, its surplus in 
2017 decreased, from USD  4.1 billion in 2012 to USD  0.6 billion in 2017, although the account was 
historically  negative due mainly to the net investment of residents in the rest of the world.7 The 
surplus declined mainly due to decreased direct investment and portfolio investment. In 2017, gross 
official reserves stood at USD  8.4 billion, which is equivalent to about 9.7 months of imports. 
Between 2011 and 2014, Trinidad and Tobago's reserves grew as the country benefited from rising 
energy prices. However, the subsequent significant fall in energy prices negatively affected foreign 
exchange inflows. In the auth orities' view, the falling export earnings , coupled with a relatively 
inelastic import demand , resulted in declining reserves.  
1.10.   According to an IMF report, structural reforms are needed to enhance competitiveness and 
create an enabling environment for the n on-energy sector ; measures are being taken . These include 
state-owned enterprise reform, such as the restructuring of the state  oil company Petrotrin 
(Section  4.3.1.2); a review of the rate determination mechanism for electricity and water  
(Section  4.3.1.4 ); and export -based diversification through the creation of , inter alia , new industrial 
parks and a new foreign exchange facility administered by the Export -Import Bank of Trinidad and 
Tobago ( Section  3.2.5).8 
1.11.   The Government maintains the Heritage and Stab ilisation Fund (HSF), which was created in 
2007 under the Heritage and Stabilisation Act, No.  6 of 2007, to invest surplus petroleum revenues 
so that public expenditure could  be maintained if prices of crude oil and gas fall.9 At 
                                                
7 IMF Country Report No. 18/285.  
8 IMF Country Report No. 18/285.  
9 WTO document WT/TPR/S/260/Rev.1, 2 May 2012.  WT/TPR/S/388 • Trinidad and Tobago  
 
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  end-September  2018, the HS F had a net asset value of USD  5,763 million, up from 
USD 4,780  million at end -Septemb er 2012.  
1.3  Developments  in Trade and Investment  
1.12.   In 2017, the share of merchandise exports in GDP was around 45%, down from around 63% 
in 2012. The share of merchandise impo rts in GDP also declined during the review period , from 
around 36% in 2012 to around 29% in 2017. The services deficit increased from around 6% of GDP 
in 2012 to around 9.5% in 2017 ( based on T able 1.4).  
Table 1.4 Trade in services, 2012 -17 
(USD million)  
 2012  2013  2014  2015  2016  2017a 
Exports        
Total services  1,395  1,283  1,459  1,192  1,028  1,102  
Manufacturing services on physical 
inputs owned by others  0 0 1 0 0 0 
Maintenance and repair services 
(n.e.s)  0 0 0 0 0 0 
Transport  525 531 547 385 337 355 
 Sea  77 91 101 87 77 75 
 Air  448 440 447 298 260 279 
 Other  0 0 0 0 0 0 
Travel  413 430 447 531 464 453 
 Business  48 47 41 46 37 38 
 Personal  365 383 406 485 426 416 
Construction  1 0 0 0 2 1 
 Construction abroad  0 0 0 0 2 1 
 Domestic construction  1 0 0 0 0 0 
Insurances and pension services  227 99 153 119 126 185 
 Direct insurance  227 99 153 119 126 185 
 Reinsurance  0 0 0 0 0 0 
Financial services  4 0 0 0 1 1 
Charges for use of intellectual  
property  0 0 1 1 2 2 
 Franchise and trademark licensing 
 fees 0 0 1 1 1 1 
 Licences to reproduce and/or 
 distribute audiovisual and related 
 products  0 0 0 0 1 1 
Telecommunications, computer and 
information services  9 1 11 16 12 14 
 Telecommunications  services  8 0 10 13 12 11 
 Computer services  2 1 1 3 0 3 
Other business services  213 215 294 128 72 77 
 Professional and management 
 consulting services  3 2 5 6 6 9 
 Technical trade -related and other 
 business services  210 213 288 122 66 69 
Personal,  cultural and recreational 
services  0 0 0 0 0 0 
Government services n.e.s  2 5 6 11 13 14 
Imports        
Total services  2,906  2,651  2,759  2,944  2,839  3,191  
Manufacturing services on physical 
inputs owned by others  0 0 0 0 0 0 
Maintenance and repair services 
(n.e.s)  0 0 0 0 0 0 
Transport  679 763 735 729 633 630 
 Sea  653 720 645 631 551 546 
 Air 27 42 90 98 82 83 
 Other  0 0 0 0 0 0 
Travel  196 89 124 207 187 97 
 Business  0 0 1 0 0 0 
 Personal  195 88 123 207 187 96 
Construction  15 8 2 4 59 173 
 Construction abroad  0 0 0 0 2 2 
 Domestic construction  15 8 2 4 57 172 
Insurance and pension services  559 260 277 326 339 350 
 Direct insurance  559 260 277 326 88 140 
 Reinsurance  0 0 0 0 251 210 WT/TPR/S/388 • Trinidad and Tobago  
 
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   2012  2013  2014  2015  2016  2017a 
Financial services  42 39 47 42 49 52 
Charges for use of intellectual 
property  54 61 70 75 54 54 
 Franchise and trademark licensing 
 fees 54 61 70 75 43 45 
 Licences to reproduce and/or 
 distribute computer software  0 0 0 0 2 1 
 Licences to reproduce and/or 
 distribute audiovisual and related 
 products  0 0 0 0 9 7 
Telecommunications, computer and 
information services  149 50 49 67 45 46 
 Telecommunications services  127 21 18 20 14 14 
 Computer services  22 30 32 47 31 32 
Other business services  1,057  1,290  1,393  1,445  1,428  1,749  
 Research and development  services  84 25 4 3 3 3 
 Professional and management 
 consulting services  47 30 33 71 44 45 
 Technical trade -related and other 
 business services  925 1,235  1,355  1,371  1,381  1,701  
Personal, cultural and recreational 
services  112 39 0 0 0 0 
Government services n.e.s  44 53 62 48 44 39 
Trade balance  -1,511  -1,368  -1,300  -1,751  -1,811  -2,089  
a Provisional data.  
Source:  Central Bank.  
1.3.1   Trends and patterns in merchandise and services trade  
1.3.1.1   Composition  of trade  
1.13.   Although mineral products (including fuels) remain the largest item in Trinidad and Tobago's 
exports, its share in total merchandise exports decreased over the review period. In 2017, mineral 
products accounted for 45.5% of merchandise exports , down from 56.0% in 2012, whi le the share 
of chemical products and base metals increased (Chart 1.1 and Table A1.1).  
1.14.   Between 2012 and 2017, the value of total imports decreased substantially; the authorities 
consider that possible reasons behind this decrease include: recession, gover nment reduction in 
expenditure, and a decline in energy imports that were used as inputs into production for companies 
that closed operations. The share of mineral products in total merchandise imports declined between 
2012 and 2017, from around 46% to 29% ; the authorities consider that this decline was largely due 
to lower crude oil imports reflecting lower international energy prices. The share of prepared 
foodstuffs  and beverages, live animals , chemical products, plastics, base metals, and machinery and 
electrical equipment rose, while the share of vehicles and transport equipment declined (Table A1.2).  
1.3.1.2   Direction of trade  
1.15.   Trinidad and Tobago's main export destination in 2017 continued to be the United States,  
followed by the other Americas and the EU-28. During the period under review, the share of the 
United  States declined, while the share of the other Americas increased; the share of the Caribbean 
Community (CARICOM) increased from 13.5% in 2012 to 14.6% in 2017. The share of the EU-28 
remained largely unchanged (Chart 1.2 and Table A1.3). The authorities state that the decline of 
the United States' share was due to a decline in energy commodity exports, in particular ammonia 
and liquefied natural gas (LNG).10 
1.16.   The United States remains Trinidad and Tobago 's largest import supplier followed by the 
EU-28. During the review period, the share of Colombia declined while that of Brazil increased; the 
share of Asia increased significantly, while the share of CARICOM declined slightly  (Table A1.4).  
                                                
10 The value of ammonia exports to the United States declined to TTD 3.8 billion in 2017, down from 
TTD 10.3 billion in 2012. The authorities indicate that the decline partly reflects domestic plants' maintenance 
and outages in both the upstream and d ownstream sectors. The value of LNG exports to the United States 
declined to TTD 1.4 billion in 2017, down from TTD 1.8 billion in 2012. The volume of LNG exports to the 
United States also fell from 132 million MMBtu in 2012 to 77 million MMBtu in 2017 .  WT/TPR/S/388 • Trinidad and Tobago  
 
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  Chart 1.1 Merchandise trade by main HS sections, 2012 and 2017  
 
Source:  WTO Secretariat calculation s, based on data provided by the authorities.  
Chart 1.1 Merchandise trade by main HS sections, 2012 and 2017
2012 2017
(a)    Exports
Total: USD 12,864 million
(b)    Imports
Total: USD 11,608 million Total: USD 6,901 million
Source:   WTO Secretariat calculation, based on data provided by the authorities.Total: USD 9,148 millionBase metals
4.3%Other
1.9%
Live 
animals
3.5%Other
2.9%
Chemical 
products
5.1%Base metals
6.6%Machinery & 
electrical 
equipment
2.0%
Base metals
4.3%Mineral 
products
45.5%Machinery & 
electrical 
equipment
11.7%Other
9.5%
Chemical 
products
7.3%Base 
metals
7.2%Machinery & 
electrical 
equipment
17.6%Other
13.9%
Plastics
2.5%Mineral 
products
28.5%
Plastics
3.9%Mineral 
products
56.0%Mineral 
products
45.5%Machinery & 
electrical equipment
2.6%
Chemical 
products
29.3%
Live 
animals
1.9%Vehicles & 
transport 
equipment
4.1%Vehicles & 
transport 
equipment
7.9%
Vehicles & 
transport 
equipment
15.3%Vehicles & 
transport 
equipment
11.5%Prepared 
foodstuffs, 
beverages
2.7%
Chemical 
products
24.6%Prepared 
foodstuffs, 
beverages
9.6%
Prepared 
foodstuffs, 
beverages
4.2%Prepared 
foodstuffs, 
beverages
6.8%WT/TPR/S/388 • Trinidad and Tobago  
 
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  Chart 1.2 Merchandise trade by main origin and destination, 2012 and 2017  
 
C.I.S.  Commonwealth of independent states.  
Source:  WTO Secretariat calculation s, based on data provided by the authorities.  
1.3.2   Trends and patterns in foreign direct investment  
1.17.   During the period under revie w, foreign direct investment (FDI) inflows have been volatile. 
They peaked at over USD  661 million in 2014, but have since been declining and were 
USD 456 million in 2017. The authorities indicate that the spike of FDI in 2014 reflects, inter alia , 
Chart1.2
Merchandise trade by main origin ad destination, 2012 and 2017
2012 2017
(a)    Exports
Total: USD 12,864 million
(b)    Imports
Total: USD 11,608 million Total: USD 6,901 million
Source:   WTO Secretariat calculation, based on data provided by the authorities.Total: USD 9,148 millionChile
1.6%Others
5.3%
United 
States
47.9%EU-28
11.2%
Other 
Americas
24.9%
Jamaica
3.9%
United 
States
30.9%Americas
78.4%United 
States
38.7%
Other 
Americas
26.2%
Chile
3.6%Others
6.3%Other 
Asia
16.4%
Americas
78.5%Other 
Asia
2.9%
Canada
2.0%Other 
Americas
6.1%Japan
2.0%
EU-28
9.4%C.I.S.
6.9%China
4.7%Other 
Asia
5.9%Others
0.2%
Canada
3.4%United 
States
26.1%
Other 
Americas
6.8%EU-28
11.9%Japan
3.6%
C.I.S.
7.4%Other 
Asia
9.6%Others
0.2%
Americas
56.6%Americas
48.9%
Other Europe
2.7%
Other 
Europe
1.8%Asia
12.7%Asia
22.2%
Africa
7.6%Other Europe
0.1%Africa
3.8%
EU-28
11.5%
St Martin
6.5%
Brazil
4.9%St Martin
0.2%Jamaica
3.5%
Brazil
7.9%Korea, 
Rep. of
0.3%
Other Europe
1.0%
Europe
11.7%Asia
3.2%
Europe
12.2%Asia
4.3%
Europe
13.7%Europe
12.2%Africa
1.4%Korea, 
Rep. of
2.0%
Africa
11.5%China
9.0%
Colombia
12.7%Colombia
4.8%
C.I.S.      Commonwealth of independant states.WT/TPR/S/388 • Trinidad and Tobago  
 
- 22 - 
 
  increas ed equity transactions by companies in the energy sector.11 Most foreign investment, positive 
or negative, took place in  the petroleum industries during the review period (Table  1.5). The main 
investors in Trinidad and Tobago were the United States, the Uni ted Kingdom, Canada, and Barbados 
(Table 1.6).  
Table 1.5 Direct investment flows, by sector, 2012 -17 
(USD million)   
2012  2013  2014  2015  2016  2017a 
Petroleum industries  -1,963  -1,095  300 68 -432 -567 
Mining  0 0 0 0 0 0 
Exploration and production  -1,594  -903 -710 165 -63 -498 
Refineries  -170 -79 -165 -73 139 -47 
Petrochemicals  -194 -129 1,183  -62 -534 -30 
Service contractors  -3 1 -19 32 23 12 
Marketing and distribution  -3 15 10 6 4 -4 
Food, drink and tobacco  25 18 14 13 48 24 
Chemicals and non -metallic minerals  -15 6 -11 26 4 40 
Assembly type and related industries  0 -95 324 1 65 33 
Distribution  30 4 21 35 88 -5 
Other sectorsb 19 32 13 35 203 19 
Total  -1,904  -1,130  661 177 -24 -456 
a Provisional data. 
b Includes textiles, garments, footwear, headwear, printing, publishing and paper converters, wood 
and related products, miscellaneous manufacturing, electricity and water, construction, hotels and 
guest houses, transportation, communication and storage, finance, insurance, real estate and 
business services, educational and cultural community services, personal services, and other 
sectors.  
Source:  Central Bank.  
Table  1.6 Direct investment flows, by country, 2012 -17 
(USD million)   
2012  2013  2014  2015  2016  2017a 
United States  -502 299 -447 379 408 -58 
United Kingdom  48 -780 -501 -75 -36 -415 
Canada  -1,178  48 -34 43 -387 -102 
Barbados  ..  ..  ..  ..  -162 -46 
The Netherlands  ..  ..  ..  ..  7 1 
St. Lucia  ..  ..  ..  ..  40 9 
Otherb -272 -697 1,643  -170 106 154 
Total  -1,904  -1,130  661 177 -24 -456 
.. Not available.  
a Provisional data.  
b Data for the period 2011 -15 include Barbados, the Netherlands and St. Lucia.  
Source:  Central Bank . 
 
                                                
11 The authorities state that this occurred  against the background of the awarding of blocks for both 
deep-water and onshore exploration, and the sale of shares by Methanol Holdings (Trinidad) Limi ted to a 
foreign -based company.  WT/TPR/S/388 • Trinidad and Tobago  
 
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 2  TRADE AND INVESTMENT  REGIMES  
2.1  General Framework  
2.1.  There have been no changes to Trinidad and Tobago's Constitution1, the overall structure of 
the Government, or the process for enacting legislation since its previous Review (see Table A2.1).  
2.2.  The main strategy being implemented to guide Trinidad and Tobago's overall social and 
economic development is "Vision 2030: The National Development Strategy of Trinidad and T obago 
2016-30", which is being overseen and implemented by the Ministry of Planning and Development.2 
It comprises 56 national goals, which fall under five overarching themes: (a) putting people first; 
(b) delivering good governance and service excellence;  (c) improving productivity through quality 
infrastructure and transportation; (d) building globally competitive businesses; and (e) placing the 
environment at the centre of social and economic development.3 This document was prepared 
against the backdrop of a significant decline in government revenu e from petroleum (Section 1  and 
Section 4.3) which has made reform and economic diversification, already deemed necessary at the 
time of Trinidad and Tobago's previous Review4, more urgent.5 Among the main econo mic priorities 
identified in Vision 2030 are to: expand exports, increase foreign exchange earnings an employment; 
improve productivity; manage energy -related developments (Section 4.3); and ensure growth while 
protecting the environment. In terms of econo mic policy, emphasis i s being placed on building 
high-quality infrastructure (including information and communication technologies (ICT) 
infrastructure) and transport systems; and helping businesses to be competitive, inter alia  through 
sound macroeconomic  management, creating a pro -competitive environment which encourages 
entrepreneurship and innovation, providing the right workforce training, and developing a more 
competitive tax system (Section  3.3.1.1) and investor -friendly climate. It is anticipated th at further 
dialogue with stakeholders, within the Vision 2030 framework, will result in the development of more 
detailed sectoral and ministerial plans.6 
2.3.  A National Services Sector Policy is being drafted, and a multi -sectoral National Innovation 
Policy wa s completed in 2016 and awaits cabinet approval.  
2.4.  Other sector -specific strategies being implemented are the National Quality Policy 2018 -30 
(Section 3.3.2); the Special Economic Zones Policy (Section 3.2.4.2.); the National E -Commerce 
Strategy 2017 -21 (see  below); the National ICT Plan 2017 -21 (Section 4.5. 2); and th e Yachting 
Policy (Section 4.5.3 .1). 
2.2  Trade Policy Formulation and Objectives  
2.5.  The Ministry of Trade and Industry (MTI) continues to be responsible for trade and investment 
policy formulation as w ell as implementation of trade policy.7 It negotiates and implements 
commitments under various trade, economic and investment agreements and has a role in fostering 
commercial relations with trading partners. Agencies under the MTI's responsibility with trade and 
investment -related responsibili ties are: InvesTT (see below); the National Export Facilitation 
Organization of Trinidad and Tobago (exporTT); the Trinidad and Tobago Creative Industries 
                                                
1 The most recent Constitutional Amendment was in 2007 (Act 12 of 2007). The Constitution and its 
amendments were viewed at: http://rgd.legalaffairs.gov.tt/Laws2/Constitution.pdf . As at mi d-2018, the 
Constitution (Amendment) (Tobago Self -Government) Bill was  being considered by Parliament.  
2 Ministry of Planning and Development online information. Viewed at: 
https://www.plannin g.gov.tt/content/vision -2030. 
3 These goals are to be implemented over three five -year planning periods. There are 24 short -term 
goals to be achieved over the period 2016 -20, 16 over the medium term (2016 -25), and 16 over the long term 
(2016 -30). 
4 As reported by the Government, various measures were being implemented at the time of Trinidad 
and Tobago's previous Review to move away from dependence on the oil and gas sector. WTO document 
WT/TPR/M/260/Add.1, 20 April 2012.  
5 Budget Statement 2018. Vi ewed at: http://www.news.gov.tt/sites/default/files/BUDGET -STATEMENT -
2018.pdf . 
6 As at end -2018, Vision 2030 Action Lists relevant to ministries and departments had been p repared 
and disseminated by the Ministry of Planning and Development; with the support from development partners, 
the next step will be for sector plans to be developed.  
7 Implementation of investment policies and incentives is the responsibility of the di fferent line 
ministries.  WT/TPR/S/388 • Trinidad and Tobago  
 
- 24 - 
 
  Company Limited; the Trinidad and Tobago Bureau of Standards; Evolving TecKnologies and 
Enterprise De velopment Company Limited; the Trinidad and Tobago Free Zones Company Ltd.; 
National Flour Mills; and the Fair Trading Commission. Various other government bodies and 
institutions have trade and investment -related functions (Table 2.1).  A bill to establish  a revenue 
authority is being considered by Parliament; this would replace the Board of Inland Revenue and the 
Customs and Excise Division. Apparently, the existing regime is hampered by governance 
challenges, extensive non -compliance and weak organization al structures8, and restructuring would 
aim to enhance the transparency, effectiveness and efficiency of revenue collection.9 
Table 2.1 Government bodies with trade and investment -related responsibilities  
Institution  Responsibilities  
MTI Trade and investment policy formulation. Trade policy implementation  
Ministry of Finance  Application of tariffs, taxation and fiscal incentives  
Ministry of Agriculture, Land 
and Fisheries  Agricultural policy , and issuance of sanitary and phytosanitary permits  
Ministry of Health  Monitoring of  the importation of food, cosmetics and drugs  
Ministry of Works and 
Transport  Port operations and port logistics  
Ministry of Energy and Energy 
Industries  Administration,  regulation and policy formulation in the hydrocarbons 
sector, including granting of concessions, licences and contracts  
Source:  National Aid for Trade Strategy 2016 -19; WTO document WT/TPR/S/260/Rev.1, 2 May 2012.  
2.6.  As noted in Trinidad and Tobago's previo us Review, trade policy formulation in the country is 
a consultative process. The Minister of Trade and Industry is advised by a Standing Advisory 
Committee on Trade and Related Matters, which is largely comprised of representatives from the 
private sector . A Technical Coordinating Committee (TCC), headed by the Permanent Secretary of 
the MTI, assists in developing positions in trade negotiations. The TCC has six sub -committees on: 
market access and trade facilitation; agriculture; services; investment; tra de-related issues; and 
legal and institutional issues.10 The various sub -committees include representatives from the public 
and private sectors, such as relevant ministries, agencies and organizations, such as the Trinidad 
and Tobago Manufacturer's Associat ion. 
2.7.  There have been some changes to trade and investment -related laws over the review period. 
New legislation enacted includes: the Insurance Act, 2018; the Public Procurement a nd Disposal of 
Public Property Act, 2015 (as amended); and the Trade Marks Act , 2015. Amendments were made 
to the Finance Act in 2016; the Customs Act in 2013; and the Securities Act in 2012 (Table 2.2).  
Table 2.2 Principal trade and investment -related laws, 2018  
Area  Full title of legislation  Latest 
amendment(s)  
Customs procedures  Customs Act (Chap. 78:01). Commenced 25 September 
1939  Act No. 7 of 2016  
 Customs Brokers and Custom Clerks Act (Chap. 78:03). 
Commenced 28 January 1971  Act No. 2 of 2005  
E-Commerce  Electronic Transactions Act (Chap. 22:05). Assented to on 
28 April 2011. Parts I, II, III, IV and VII only proclaimed.  n.a. 
Investment  Foreign Investment Act (Chap. 70:07) . Commenced  
17 August 1990 Act No. 17 of 2007  
 Registration of Local Agents of Foreign Governments of 
Foreign Enterprises  Act (Chap. 19:08). Commenced 
8 December 1980  n.a. 
                                                
8 As noted by the authorities, a study on the country's revenue administration  identified the following 
shortcomings: the operations of the IRD and the CED were hampered by human resource policies that could 
not be tailored to the ir specific needs within the broader framework of public service rules; the compensation 
scheme was inadequate to meet the needs of a highly specialized workforce; the departments did not have the 
financial autonomy or flexibility to manage financial requi rements and expenditures; the full revenue collection 
potential of the country's tax and customs laws was not being realized; and complexity of the tax system had 
led to high levels of evasion and poor voluntary compliance.  
9 Viewed at: http://www.news.gov.tt/content/establishment -trinidad -and-tobago -revenue -
authority#.WytvlE_2TIU . The Bill was to be considered by a Joint Select Committee on 31 July 2018.  
10 WTO document WT/TPR/S/260/Rev.1, 2 May 2012.  WT/TPR/S/388 • Trinidad and Tobago  
 
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  Area  Full title of legislation  Latest 
amendment(s)  
Taxation and fiscal 
incentives  Income Tax Act (Chap. 75:01). Commenced 
22 December  1938 Act No. 15 of 2017  
 Income Tax (In Aid of Industry ) Act (Chap. 85:04) . 
Commenced  16 March 1950 Act No. 4 of 2014  
 Corporation Tax Act (Ch ap. 75:02). Commenced 
1 January  1966  Act No. 11 of 2018  
 Excise General Provisions Act (Chap. 78:50). Commenced 
1 January 1935  Act No. 4 of 2014  
 Fiscal Incentives Act (Chap 85:01). Commenced 
16 July 1979 Act No. 2 of 2012  
 Miscellaneous Taxes Act  (Chap. 77:01). Commenced 
2 May 1963 Act No. 10 of 2016  
 Provisional Collection of Taxes Act (Chap 74:01) . 
Commenced 4 January 1963  Act No. 34 of 1977  
 Value Added Tax  Act (Chap 75:06). Commenced 
19 September 1989  Act No. 22 of 1993  
 Finance Act (Act No. 13 of 2010). Assented  to on 
19 December 2017  Act No. 15 of 2017  
Contingency 
measures  Anti-dumping and Countervailing Duties Act (Chap. 78:05). 
Commenced 1 January 1996 n.a. 
TBT The Accreditation Council of  Trinidad and Tobago Act 
(Chap.  39:06). Commenced 9 July 2004  Act No. 10 of 2008  
 Metrology Act (Chap 82:06) Commenced 1 May 2015  n.a. 
 Standards Act (Chap 82:03). Commenced 12 August 1997  n.a. 
SPS Control of Importation of Live Fish Act (Chap. 67:52). 
Commenced 23 November 1950  n.a. 
 Exportation of Fruit  Act (Chap. 63:53). Commenced 
1 December 1931  Act No. 46 of 1979  
 Food and Drug  Act (Chap. 30:01). Commenced 
1 January  1965 Act No. 6 of 2005  
 Plant (Export  Prohibition) Act (Chap. 63:54). Commenced 
12 May 1938  n.a. 
Free trade zones  Trinidad and Tobago Free Zones Act (Chap. 81:07). 
Commenced 28 July 1988  Act No. 13 of 2010  
Competition Policy  Fair Trading Act. Assented to on 20 July 2006. Commenced 
1 July 2014. Parts II, IV, V and VI proclaimed  n.a. 
Government 
procurement  The Public Procurement and Disposal of Public Property Act 
(Act No. 1 of 2015)  Act No. 3 of 2017  
Intellectual property 
rights  Trademarks Act. Act No. 8 of 2015. Assented to on 
12 June 2015 but not yet proclaimed  n.a. 
 The Patents and Designs Act (Chap. 82:83). Commenced 
28 March 1900  Act No. 21 of 1996  
 The Patents, Designs, Copyright and Trade Marks 
(Emergency) Act (Chap. 82:84) Commence d 
3 September  1939 Ordinance No. 5 of 
1947 
 The Patents (Validation of International Applications filed 
under the Patent Cooperation Treaty) Act. Act No. 5 of 1999. 
Assented to on 16 March 1999 but not yet proclaimed  n.a. 
 The Protection of New Plant Varieties Act (Chap. 82:75). 
Commenced 1 Decembe r 1997  Act No. 2 of 2001  
 The Trade Marks Act. Act N o. 8 of 2015. Assented to on 
12 June 2015 but not yet proclaimed  n.a. 
 Copyright Act (Chap. 82:80). Commenced 1 October 1997  Act No. 5 of 2008  
 Industrial Designs  Act (Chap. 82:77). Commenced 
1 December 1997  Act No. 18 of 2000  
 Layout -Designs (Topographies) of Integrated Circuits Act 
(Chap. 82:79). Commenced 1 December 1997   n.a. 
 Intellectual Property (Miscellaneous Amendments) Act. Act 
No. 18 of 2000. Assented to on 15 June 2000 but not yet 
proclaimed  n.a. 
Agriculture  The Sugar Industry Control Board (Repeal) (Validation) Act 
No. 12 of 2013  n.a. 
Fisheries  Fisheries Act (Chap. 67:51). Commenced 11 December 1916  Act No. 23 of 1975  
 Fishing Industry (Assistance) Act (Chap. 85:03). 
Commenced 2 April 1956  Ordinance No. 5 of 
1958 
Mining  Minerals Act. Act No. 61 of 2000 (Chap. 61:03). Commenced 
6 November 2000  Act No. 4 of 2014  WT/TPR/S/388 • Trinidad and Tobago  
 
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  Area  Full title of legislation  Latest 
amendment(s)  
Energy  Petroleum Act (Ac t No. 46 of 1969). Commenced 
30 December 1969.  Act No. 4 of 2014  
 Trinidad and Tobago El ectrici ty Commission Act 
(Chap.  54:70). Commenced 1 January 1946  Act No. 6 of 2009  
Financial services  Financial Institutions Act (Chap. 79:09). Commenced 
11 August 1993  Act No. 15 of 2006  
 The Financial Intelligence Unit of Trinidad and Tobago Act 
(Chap. 72:01). Commenced 9 February 2010  Act No. 15 of 2014  
 The Insurance Act. Act No. 4  of 2018. Assented to on 
4 June 2018 but not yet proclaimed  n.a. 
 The Securities Act (Chap. 83:02). Commenced 
31 December  2012  Act No. 9 of 2014  
Telecommunications 
services  The Telecommunications Act  (Chap . 47:31). Commenced 
5 July 2001.  Act No. 17 of 2004  
Broadcasting 
services  Cinematography Act (Chap. 20:10). Commenced 
17 December 1936  Act No. 6 of 2014 
Transport services  Shipping Act (Chap. 50:10). Commenced 3 December 1987  Act No. 3 of 2007  
 The Pilotage Act (Chap. 51:02). Commenced 
28 Decem ber 1939 Act No. 24 of 2006  
 The Airports Authorit y of Trinidad and Tobago 
(Chap.  49:02). Commenced 4 February 1980  Act No. 4 of 2007  
 The Civil Aviation Act (Chap. 49: 03). Commenced 
1 November 2001  Act No. 17 of 2003  
Tourism services  Tourism and Industrial Development Company Vesting Act 
(Chap. 87:21). Commenced 1 May 1995.  n.a. 
 Tourism Development Act (Chap 87 :22). Commenced 
16 October 2000  Act No. 16 of 2006  
 The Tourism Development (Miscellaneous Provisions) Act 
(Act No. 50 of 2000). 28 September 2000  n.a. 
Other  Regulated Industries Commission Act (Chap 54:73). 
Commenced 1 January 2000  Act No. 4  of 2001  
 Trade Descriptions Act (Chap. 82:04).  Commenced 
28 October 1986  n.a. 
 Trade Dispute and Protection of Property Act (Chap. 88.03). 
Commenced 11 March 1943.  n.a. 
 Trade Ordinance (A ct No. 19 of 1958). Commenced 
1 January 1959  Act No. 23 of 1993  
n.a. Not applicable.  
Note:  Once a Bill has been passed by both Houses, special "assent" copies are prepared for the signature 
of the President of the Republic. Once the President signs the Bill , it becomes an Act. If there is no 
commencement date, the dat e of assent is the date the Act becomes law. Otherwise t he 
commencement provision specifies when the Act is to come into effect. This may be the date of 
assent by the President, a date to be fixed by proclamation, a nominated date , or some combination 
of these to provide for different sections or parts to come into effect at different times. Proclamation 
is a declaration of the date on which an Act or a Part of an Act comes into effect.  
Source:  Digital Legislative Library online inf ormation. Viewed at: http://laws.gov.tt ; Parliament of Trinidad 
and Tobago online information. Viewed at: http://www.ttparliament.org ; and information provided 
by the authoritie s. 
2.8.  Trinidad and Tobago's trade policy objectives over review period were set out in the MTI's 
Trade Policy and Strategy 2013 -17.11 These were to: (a) expand market access for Trinidad and 
Tobago's goods and services, regionally and globally; (b) safeguard s ensitive productive sectors12; 
(c) increase production, competitiveness and export of high value -added goods and services, 
                                                
11 Viewed at: http://docplayer.net/19210789 -Trade -policy -and-strategy -trinidad -and-tobago -2013-
2017.html . 
12 The following subsectors/goods have been identified as sensitive: agro -processed products 
(e.g. poultry and poultry products; hams and sausages; milk and cream; pasta; chocolate; and juices, 
beverages and alcohol); shampoo and cosmetics;  paints and varnishes; paper and paper products; contractual 
service suppliers and independent professionals for engineering, architectural, accounting and other services 
sectors; postal and audio -visual services; distribution services (i.e. wholesale trad e services of agricultural raw 
materials and live animals; food, beverages and tobacco; and metal ores and metal in primary form); primary 
and secondary educational services (such as non -profit and public and privately -funded entities); banking and 
insuran ce services; energy services; and tourist guide services. Trade Policy and Strategy 2013 -17. Viewed at: 
http://docplayer.net/19210789 -Trade -policy -and-strategy -trinidad -and-tobago -2013-2017.html . WT/TPR/S/388 • Trinidad and Tobago  
 
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  particularly in the non -energy sectors; (d) improve the business and trade -enabling environment; 
(e) strengthen the institutional fram ework for trade; (f) mobilize resources to finance the needs of 
the trade -related sectors; (g) mainstream trade policy into the wider macroeconomic and 
development policy -setting; and (h) engage in regional and hemispheric integration and cooperation. 
A new Trade Policy and Strategy for the period 2018 -22 is being developed.  
2.9.  Trinidad and Tobago's National Aid for Trade Strategy was released in April 2017, and covers 
the period 2016 -19. Its focus is to overcome impediments the country faces in exploiting glo bal 
trading opportunities. Key challenges identified include: inadequate financing mechanisms; a lack of 
relevant market intelligence; insufficient skills in export management; congestion at ports; and the 
absence of payment mechanisms to facilitate e -comm erce. The Strategy consists of three pillars 
with associated objectives and Aid for Trade (AfT) priorities (Table 2.3).13 
Table 2.3 AfT framework, objectives and priorities, 2016 -19 
 Objectives  AfT priorities  
Export 
diversification 
pillar • Expand "emerging" product lines;  
• Develop new export products;  
• Penetrate traditional and non -
traditional markets . • Build the productive capacity of sectors 
targeted for diversification ; 
• Establish facilities to produce "new" go ods 
and services for export;  
• Build capacity for gathering and 
disseminating market intelligence ; 
• Strengthen skills for trade negotiations.  
Competitiveness 
pillar • Increase adherence to 
international quality standards;  
• Provide increased access to 
finance ; 
• Upgrade the skills of new and 
existing exporters;  
• Strengthen business support 
organizations;  
• Develop and exploit national 
brands.  • Strengthen the national quality 
infrastructure;  
• Improve quality management systems in 
SMEs ; 
• Establish a financing mechanism t o assist 
exporters access global markets ; 
• Expand learning opportunities for 
businesses ; 
• Build the capacity of B uilding Support 
Organizations (BSOs)  to better serve their 
members ; 
• Develop and exploit national brands.  
Trade 
facilitation pillar  • Increase the efficiency of 
maritime transport;  
• Increase value -added services in 
the port environment;  
• Utilize e -commerce opportunities . • Implement the provisions of the 
WTO Trade Facilitation Agreement;  
• Build the capacity of the proposed 
Maritime Authority;  
• Expand/upgra de port facilities ; 
• Increase the use of ICT across industries.  
Source:  ECLAC online information. Viewed at: http://caribbean.cepal.org/content/national -aid-trade -
strategy -2016-2019. 
2.3  Trade Agreements and Arrangements  
2.3.1   WTO  
2.10.   Trinidad and Tobago has been a Member of the WTO since 1 March 1995. It grants at least 
MFN treatment to all its trading partners. It is an observer to the Committee on Trade in Civil Aircraft. 
In Sept ember 2013, it accepted the 2005 Protocol Amending the TRIPS Agreement and, in July 2015, 
it accepted the 2014 Protocol concerning the Trade Facilitation Agreement. To be legally binding, 
WTO agreements must be incorporated into domestic law.  
2.11.   Over the revi ew period, Trinidad and Tobago has been involved in no new WTO dispute 
settlement cases as complainant or respondent but has been involved in one new case as a third 
party.14 It has submitted notifications under various WTO agreements (Table 2.4). Certain 
                                                
13 MTI online information. Viewed at: tradeind.gov.tt/wp -content/uploads/2017/04/4 -26-17-Aid-for-
Trade.pdf , and ECLAC online information. Viewed at: http://caribbean.cepa l.org/content/national -aid-trade -
strategy -2016-2019. 
14 DS441: Australia – Certain Measures Concerning Trademarks, Geographical Indications and Other 
Plain Packaging Requirements Applicable to Tobacco Products and Packaging. Viewed at: 
https://www.wto.org/english/tratop_e/dispu_e/cases_e/ds441_e.htm . Details of Trinidad and Tobago's WT/TPR/S/388 • Trinidad and Tobago  
 
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  notifications are not up -to-date or are outstanding, in the areas of: domestic support and export 
subsidies in agriculture; quantitative restrictions; customs valuation (relating to the Decision on 
Interest Charges (G/VAL/5, A.3) and the Decision on Carrier  Media (G/VAL/5, A.4)); applied tariff 
for 2018; import data for 2016; subsidies; and state trading enterprises. CARICOM's RTAs with the 
Dominican Republic, Colombia, Cuba, and Costa Rica have not been notified to the WTO, nor has 
the RTA between Trinidad and Tobago and Panama (Section 2.3.2).  Trinidad and Tobago has not 
made any notifications under GATS Article III:3 or GATS Article III:4.  
Table 2.4 Trinidad and Tobago's notifications to the WTO, January 2012 -July 2018  
Agreement  Requirement  Symbol and date of latest notification  
Agreement on Agriculture  
Articles 10 and 18.2  Export subsidy (ES:1)  G/AG/N/TTO/13, 12/08/2015  
Article 18.2  Domestic support: total aggregate 
measure of support (DS:1)  G/AG/N/TTO/14, 13/08/2015   
Agreement on Implementation of Article VI of the GATT 1994 (anti -dumping)  
Article 16.4  Anti-dumping actions (semi -annual)a G/ADP/N/308/TTO, 31/01/2018  
G/ADP/N/300/TTO, 31/01/2018  
G/ADP/N/294/TTO, 28/03/2017  
G/ADP/N/272/TTO, 25/10/2016  
G/ADP/N/286/TTO, 12/10/2016  
G/ADP/N/280/TTO, 26/04/2016  
G/ADP/N/265/TTO, 27/04/2015  
Agreement on Import Licensing Procedures  
Article 7.3 (4)  Replies to questionnaire on import 
licensing procedures  G/LIC/N/3/TTO/12, 23/10/2014  
G/LIC/N/3/TTO/11, 20/01/2014  
G/LIC/N/3/TTO/10, 14/09/2012  
Articles 1.4(a) and 
8.2(b)  Publication of import licensing 
procedures  G/LIC/N/1/TTO/3/Corr.1, 24/01/2014  
G/LIC/N/1/TTO/3, 20/01/2014  
G/LIC/N/1/TTO/2, 14/09/2012  
Agreement on Subsidies and Countervailing Measures  
Article 25.11  Countervailing duty actions (semi -
annual)a G/SCM/N/328/Add.1, 20 April 2018  
G/SCM/N/313/Add.1, 21 April 2017  
G/SCM/N/305/Add.1, 21 October 2016  
G/SCM/N/298/Add.1/Rev.1, 25 October 2016  
G/SCM/N/298/Add.1, 22 April 2016  
G/SCM/N/281/Add.1/Rev.1, 23 Octo ber 2015  
G/SCM/N/267/Add.1/Rev.1, 17 October 2014 
G/SCM/N/259/Add.1, 18 October 2013  
G/SCM/N/250/Add.1/Rev.1, 22 October 2013  
G/SCM/N/242/Add.1/Rev.1, 12 June 2013  
Agreement on Technical Barriers to Trade  
Article 2.9  Technical regulations  G/TBT/N/TTO/118, 19/03/2018  
G/TBT/N/TTO/117, 13/03/2018  
G/TBT/N/TTO/116, 29/08/2018  
G/TBT/N/TTO/115, 29/08/2018  
G/TBT/N/TTO/114, 02/04/2015  
G/TBT/N/TTO/113, 27/08/2014  
G/TBT/N/TTO/112, 07/07/2014  
G/TBT/N/TTO/111, 28/08/2013  
G/TBT/N/TTO/110, 19/06/2013  
G/TBT/N/TTO/109, 19/06/2013  
G/TBT/N/TTO/108, 01/10/2012  
G/TBT/N/TTO/107, 06/08/2012  
G/TBT/N/TTO/106, 10/04/2012  
G/TBT/N/TTO/105, 29/03/2012  
Agreement on Trade Facilitation  
WT/L/911  Articles 15 – Notification of 
implementation of Category A  
Article 16 - Notification of definitive 
dates for implementation of Categories 
B and C  G/TFA/N/TTO, 27/11/2017  
WT/L/911  Category A commitments  WT/PCTF/N/TTO/1, 15/06/2015  
a Notifications are up to date in both of these areas. In some cases, the official documents have yet 
 to be issued.  
Source:  WTO Secretariat.  
                                                
participation in dispute settlement cases prior to this review period may be v iewed at: 
https://www.wto.org/english/thewto_e/countries_e/trinidad_tobago_e.htm . WT/TPR/S/388 • Trinidad and Tobago  
 
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  2.3.2   Regional and preferential agreements  
2.3.2.1   Regional trade agreements  
2.3.2.1.1   CARICOM  
2.12.   Trinidad and Tobago is one of the 15  member States of the Caribbean Community and 
Common Market (CARICOM).15 The Revised Treaty of Chaguaramas forms the  legal basis for the 
CARICOM Single Market and Economy (CSME) which aims to integrate all CARICOM member States 
into a single economic entity (allowin g for the free movement of people, capital, goods and services ), 
and eventually  a single economy  (with harmonization of economic, investment, fiscal and monetary 
policies ). The Revised Treaty was brought into domestic legislation in Trinidad and Tobago through 
the Caribbean Community Act,  2005,  which provides for the implementation of the single market.16 
Progress at the CARICOM level towards achieving the  "single economy " component was scheduled 
for 2016 but was deferred, mainly due to pending administra tive, fiscal and legal issues.17 In 2018, 
there were renewed efforts to fully implement the CSME, with a focus on advancing areas that were 
aimed to support a competitive single market, namely: an investment policy and investment code; 
an incentive regime; an integrated capital market; and securities legislation.18  
2.13.   As part of CARICOM, Trinidad and Tobago applies the Common External Tariff (CET). 
(see Section 3.1.3.5). In 2017, CARICOM  partners  accounted for 14.6% of Trinidad and Tobago's 
exports and 1.7% of its imports.  
2.14.   The CARICOM Office of Trade Negotiations coordinates and manages the region's trade 
negotiating resources, assists member States in preparing national positions, coordinates the 
formulation of unified strategies for the region, and undertakes and leads negotiations were 
appropriate.19 
2.3.2.1.2   CARIFORUM -EU Economic Partnership Agreement (CARIFORUM -EU EPA)  
2.15.   An Economic Partnership Agreement  (EPA) between CARICOM members  and the Dominican 
Republic (CARIFORUM) and the European Union was signed in October 200 8. It is being provisionally 
applied by all parties, except Haiti ; it will enter into force once all parties have completed the 
ratification process .20 The Agreement covers goods and services liberalization and, inter alia, has 
provisions on electronic comm erce (see below) ; competition ; public procurement;  intellec tual 
property rights;  and environmental protection. All goods originating in CARIFORUM States may be 
imported duty free into the E uropean Union, apart from  products contained in Annex II of the 
Agreement (arm s and ammunition). Imports from the E uropean Union into CARIFORUM States are 
exempt from customs duties , except for products listed in Annex III. Annex III includes  the transition 
period for goods liberalization  for Trinidad and Tobago , which takes place in stages until 2033, at 
which point 87.9% of Trinidad and Tobago's tariff lines is to be duty free . At the end of the transition 
period , the MFN duty rate will apply to 780 tariff lines .21 
                                                
15 CARICOM members are: Antigua and Barbuda, Bahamas, Barbados, Belize, Dominica, Grenad a, 
Guyana, Haiti, Jamaica, Montserrat, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Suriname, 
and Trinidad and Tobago. The Bahamas is a member of the Community but not of the Common Market. 
CARICOM has five associate members: Anguilla, B ermuda, British Virgin Islands, Turks and Caicos, and the 
Cayman Islands. The Bahamas, Montserrat and Haiti are not participating in the Single Market Initiative, nor 
are the associate members.  
16 The Revised Treaty was notified to the WTO Committee on Regi onal Trade Agreements (CRTA) in 
July 2003. WTO document WT/REG/155/1, 8 July 2003.  
17 WTO document WT/TPR/S/359/Rev.1, 10 November 2017.  
18 CARICOM online information. Viewed at: https://caricom.org/media -center/communications/news -
from-the-community/measures -to-fast-track-full-implementation -of-csme. 
19 WTO document WT/TPR/S/260/Rev.1, 2 May 2012.  
20 The authorities indicat ed that Trinidad and Tobago has not submitted the instrument of ratification, as 
some pending issues are still being discussed. However, enabling legislation has been assented to (Act No. 9 of 
2013).  
21 WTO document WT/REG/255/1, 31 May 2018.  WT/TPR/S/388 • Trinidad and Tobago  
 
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  2.16.   Trinidad and Tobago's trade with the European U nion accounted for 8.7% of its total exports 
and 8.7% of its total imports in 2017. Its main export markets, in order of importance, are: the 
Netherlands, Spain, Belgium, the United Kingdom and Germany.  
2.17.   In 2015, a five -year review of the EPA was undertaken  by the parties; progress was reported 
in a number of areas including: implementation of tariff liberalization; notification of CARIFORUM 
other duties and charges subject to removal by 201822; cooperation on customs issues; a legislative 
gap analysis for EP A compliance in the services area; and progress in developing mutual recognition 
agreements (MRAs) in architecture and engineering services. According to the review, converting 
market access into a meaningful private sector market presence by CARIFORUM cou ntries is a 
challenge, given the limited productive capacity and supply side constraints. The investment and 
trade in services provisions are reported not to have yielded benefits as originally envisaged, 
particularly with respect to CARIFORUM service supp liers taking advantage of the commitments on 
the temporary presence of natural persons for business purposes. Additionally, CARIFORUM 
countries have apparently not succeeded in diversifying exports as anticipated under the 
Agreement.23 The EPA was considere d by the WTO CRTA in September 2018.24 
2.3.2.1.3   CARICOM RTAs  
2.18.   CARICOM has RTAs (i.e. involving reciprocal trade liberalizati on) in force with the 
Dominican  Republic, Colombia, Cuba, and Costa Rica (Table 2.5). While the CARICOM -Colombia 
Agreement on Trade, Economic a nd Technical Cooperation has not yet been enacted into domestic 
legislation in Trinidad and Tobago, interim measures were implemented in 1999 to give effect to the 
Agreement and the preferences contained therein . Negotiations for an RTA between Canada and 
CARICOM were suspended in 2015. CARICOM is assessing the feasibility of entering into trade 
agreements with the Central American Common Market, members of MERCOSUR, and other selected 
countries in South America.  
Table 2.5 Summary features of CARICOM's RTAs in force, August 2018  
CARICOM -Dominican Republic Free Trade Agreement  
Parties  CARICOM members  and Dominican Republic  
Date of signature/entry into 
force 22.08.1998/01.12.2001  
End of transition period 
(goods liberalization) for 
Trinidad and Tobago  End of transition period:  2004. The liberalization schedules for this 
Agreement used a negative list approach.  
 
With full implementation, all tariff lines are duty -free, except for:  
32 subhea dings at the 6 -digit level;  
35 headings at the 4 -digit level; and  
1 chapter at the 2 -digit level  
 
Certain agricultural products are subject to seasonal MFN duties but are 
duty-free for the rest of the year  
Coverage  Liberalization of goods only.  
Built-in agenda to further develop the following areas: services, investment 
and government procurement  
Trinidad and Tobago's 
merchandise trade with 
Dominican Republic (2017)  1.1% of total imports; 0.4% of total exports  
WTO legal cover  Not applicable (not notified)  
WTO consideration status  Not applicable (not notified)  
Source:  OAS Foreign Trade Information System online information. Viewed at:  
 http://ctrc.sice.oas.org/TRADE/Ccdr/Ccdr_in.asp ; and information provided by the authorities.  
                                                
22 According to  the authorities, Trinidad and Tobago notified that it had no such duties and charges.  
23 European Commission online information. Viewed at: 
http://trade.ec.europa.eu/docli b/docs/2016/january/tradoc_154165.pdf . 
24 WTO RTA -IS database. Viewed at: 
http://rtais.wto.org/UI/PublicShowMemberRTAIDCard.aspx?rtaid=605 . WT/TPR/S/388 • Trinidad and Tobago  
 
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  CARICOM -Colombia Agreement on Trade, Economic and Technical Cooperation  
Parties  CARICOM members and Colombia  
Date of signature/entry into 
force 24.07.1994 and Agreement further amended by way of a Protocol in 1998/ 
with preferences being applied by way of interim measures by way of June 
1999 
End of transition period 
(goods liberalization) for 
Trinidad and Tobago  End of transition period: 2002. Upon full implementation, 229 subheadings 
at the 6 -digit level and 85 headings at the 4 -digit level were duty -free 
Coverage  Liberalization of goods only.  
Built-in agenda to further develop services  
Trinidad and Tobago's 
merchandise trade with 
Colombia (2017)  4.8% of total imports; 1.6% of total exports  
WTO legal co ver Not applicable (not notified)  
WTO consideration status  Not applicable (not notified)  
Source:  OAS Foreign Trade Information System online information. Viewed at:  
 http://www.sice.oas.org/Trade/caricome.asp ; and information provided by the authorities.  
CARICOM -Cuba Trade and Economic Agreement  
Parties  CARICOM members and Cuba  
Date of signature/entry into 
force 05/07/2000/11/4/2006  
End of transition period 
(goods liberalization) for 
Trinidad and Tobago  End of transition period: 2010. Upon full implementation, 303 subheadings 
at the 6 -digit level and 94 headings at the 4 -digit level were duty -free. 
Coverage  Liberalization of goods only.  
Agreement also has provisions on areas such as: taxation, trade promotion 
and facilitation, services, tourism, investment, and intellectual property 
rights.  
Trinidad and Tobago's 
merchandise trade with Cuba 
(2017)  0.0% of total imports; 0.1% of total exports.  
WTO legal cov er Not applicable (not notified)  
WTO consideration status  Not applicable (not notified)  
Source:  UNCTAD online information. Viewed at:  
 http://investmentpolicyhub.unctad.org/D ownload/TreatyFile/2498 ; and information provided by the 
authorities.  
CARICOM -Costa Rica Free Trade Agreement  
Parties  CARICOM members and Costa Rica  
Date of signature/entry into 
force 09.03.2004/15.11.2005  
End of transition period 
(goods liberalization) for 
Trinidad and Tobago  End of transition period: 2007.  The liberalization schedules for this 
Agreement were presented utilizing a negative list approach. Upon full 
implementation, all tariff lines were duty -free, except for:  
96 subheadings  at the 6 -digit level; and  
37 headings at the 4 -digit level.  
 
Certain agricultural products are subject to seasonal MFN duties but are 
duty-free for the rest of the year  
Coverage  Liberalization of goods only. Negative list approach.  
Agreement also has pro visions on areas such as: services, investment, 
competition policy, and government procurement  
Trinidad and Tobago's 
merchandise trade with 
Costa Rica (2017)  0.7% of total imports; 0.1% of total exports  
WTO legal cover  Not applicable (not notified)  
WTO consideration status  Not applicable (not notified)  
Source:  OAS Foreign Trade Information System online information. Viewed at: 
http://www.sice.oas.org/agreements_e.asp ; and information provided by t he authorities.  
2.3.2.2   Bilateral RTAs  
2.19.   Over the review period, a new partial -scope trade agreement covering merchandise trade 
entered into force between Trinidad and Tobago and Panama, and a partial -scope RTA with 
Guatemala was signed (Table 2.6). These agreements  include provisions on future service trade WT/TPR/S/388 • Trinidad and Tobago  
 
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  liberalization and trade facilitation. The agreement with Panama has not yet been notified to the 
WTO.  A partial -scope agreement with El Salvador has been finalized but has not yet been signed, 
pending completion  of the internal approval process. Negotiations are also underway for a trade 
agreement between Trinidad and Tobago and Chile.25 
Table 2.6 Bilateral RTAs signed by Trinidad and Tobago  
Trinidad and Tobago -Panama  Partial -Scope Trade Agreement  
Parties  Trinidad and Tobago and Panama  
Date of signature/ entry into 
force October 2013/April 201 6  
Preferences granted by 
Trinidad and Tobago  258 tariff lines (HS 8 -digit level, CET), including, inter alia , certain 
agricultural and processed agricultural products; fish; toiletry products; 
crockery and cutlery; wood and articles made of wood; garments; 
containers and tanks; and freezers and fridges. Most of these tariff lines are 
either duty -free on entry int o force of the agreement or will become duty -
free after a transition period of 10 years. The remainder were subject to 
tariff reductions of 50% upon entry into force of the agreement, or will be 
duty-free after a 5 -year transition period. There are prefere ntial tariffs for a 
few agricultural products on a seasonal basis (June -December).  
Preferences granted by  
Panama  230 tariff lines (HS 8 -digit level, Panama code) , including, inter alia , certain 
processed agricultural products; oils; dyes; bags; plastic bottles; disposable 
crockery and cutlery; articles of clothing; paper and printed materials; wood 
and roofing tiles; and office machines. Around half of these tariff lines were 
duty-free u pon entry into force of the agreement. The remainder were 
subject to tariff reductions of 50% or 25% upon entry into force of the 
agreement, or will be duty -free after a 10 -year transition period.  
Trinidad and Tobago's 
merchandise trade with 
Panama  0.3% of total imports; 0.7 % of total exports.  
 
Trinidad and Tobago -Guatamala  Partial -Scope Trade Agreement  
Parties  Trinidad and Tobago and Guatemala  
Date of signature/ entry into 
force February 2015 /not yet entered into force  
 
Preferences granted by 
Trinidad and Tobago  143 tariff lines  including, inter alia , certain agricultural products (beef, 
cheese, flowers and vegetables), agro -processed foods, and manufactured 
items (plastic sheets, clothing and apparel products, imitation jewelry, and 
freezers).  Products are subject to staging categories: immediate 100% duty 
reduction; duty reduction phased over 5 years; duty reduction phased over 
10 years; and seasonal duty -free access over the period July -December.  
Preferences granted by 
Guatemala  146 tariff l ines including,  inter alia , certain agro -processed goods such as 
curry, chocolate, guava jams and jellies, and peanut butter, agricultural 
products, hydraulic fluids, toilet or facial stock, building bricks, tiles, and 
aluminum doors.  Products are subject to staging categories: immediate 
100% duty reduction; duty reduction phased over 5 years; duty reduction 
phased over 10 years; immediate 50% duty reduction; and immediate 20% 
duty reduction.  
Trinidad and Tobago's 
merchandise trade with 
Guatemala  0.3% of total imports; 0.1% of total exports.  
Source:  MTI online information. Viewed at: https://tradeind.gov.tt/issue -areas/trade -negotiations/ ; Trinidad 
and Tobago -Panama P artial-Scope Trade Agreement. Viewed at: 
http://www.sice.oas.org/TPD/PAN_TTO/Index_e.asp ; and information provided by the authorities.  
2.3.2.3   Global System of Trade Preferences  
2.20.   Under the Global System of Trad e Preferences (GSTP), Trinidad and Tobago grants tariff 
preferences for corn flour, newsprint, other printing paper in bulk, glassware except tumblers, and 
aluminum casks.26 
                                                
25 National Aid for Trade Strategy 20 16-19. Viewed at: http://caribbean.cepal.org/content/national -aid-
trade -strategy -2016-2019. 
26 WTO document WT/TPR/S/260/Rev.1, 2 May 2012.  WT/TPR/S/388 • Trinidad and Tobago  
 
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  2.3.2.4   Preferential trade agreements  
2.21.   As noted in Trinidad and Tobago's previous Review, th e CARICOM -Venezuela Trade and 
Investment Agreement is a one -way preferential agreement whereby most CARICOM exports to the 
Bolivarian Republic of Venezuela are granted preferential or duty -free access. This Agreement was 
signed in 1992 and entered into for ce in January 1993. Tariffs have been eliminated on 22% of 
products (mostly fresh produce, confectionary, cosmetics, jams and jellies, medicines, wooden 
furniture, horticultural products, spices, processed foods, and toilet preparations), while 67% of 
products benefit from tariff reductions. As a result, the Bolivarian Republic of Venezuela's average 
applied tariff on CARICOM imports is about one third lower than its MFN tariff. The signatories can 
apply measures to counter dumping and subsidies.27 
2.22.   Trinidad and Tobago is eligible for duty -free access to the United States' market for most 
goods under the Caribbean Basin Initiative (CBI). Under this Initiative, it is a beneficiary of both 
preferences granted under the Caribbean Basin Recovery Act (CBERA) and en hanced benefits offered 
under the United States -Caribbean Basin Trade Partnership Act (CBTPA). There is no foreseen expiry 
date for the CBERA, and a waiver for the preferences granted under this Act was granted by the 
WTO in July 2015, for the period up to  31 December 2019.28 The CBTP A is due to expire in 
September  2020. Over the period 2005 -17, Trinidad and Tobago had consistently been the leading 
source of U.S. imports entering under CBI tariff preferences29; these imports were dominated by 
petroleum, petro leum-related products and methanol.30 However, the value of imports diminished 
significantly over the review period; the value of U.S. imports from Trinidad and Tobago under CBI 
provisions was nearly USD  2.2 billion in 2012, representing just over a quarter of total imports, and 
this fell to nearly USD  488 million in 2017 (just over 15% of total imports) (Chart  2.1). 
Chart 2.1 US imports from Trinidad and Tobago, 2012 -17 
(USD million, customs value)  
 
Source:  WTO Secretariat based on data from the  USITC Trade Dataweb.  
2.23.   Trinidad and Tobago is also eligible for preferential treatment to the Canadian market through 
the Caribbean -Canada Trade Agreement (CARIBCAN), a programme for trade, investment and 
industrial cooperation between Canada and the Common wealth Caribbean countries, which extends 
one-way duty -free treatment to nearly all qualifying imports. Canada's request for the extension of 
the WTO waiver of its duty -free treatment for eligible economies under this programme until 
31 December 2023 was g ranted in July 2015.31 In 2017, the total value of Canadian imports from 
                                                
27 WTO document WT/TPR/S/260/Rev.1, 2 May 2012. The text of the agreement was viewed at: 
http://investmentpolicyhub.unctad.org/Download/TreatyFile/2421 . 
28 WTO document WT/L/950, 5  May 2015.  
29 In 2017, Jamaica overtook Trinidad and Tobago as the biggest recipient.  
30 USTR Eleventh Report to Congress on the Operation of the Caribbean Basin Economic Recovery Act 
(December 2015). Viewed at: https://ustr.gov/sites/default/files/2015 -CBI-Report -Final.pdf ; and 
WTO document WT/L/1012, 12 July 2017.  
31 WTO document WT/L/958, 30 July 2017.  
01,0002,0003,0004,0005,0006,0007,0008,0009,000
2012 2013 2014 2015 2016 2017
CBI OtherChart 2.[X]
U.S. domestic imports from Trinidad and Tobago, 2012 -17
(US$ million, customs value)
Source: WTO Secretariat, based on data from the USITC Trade Dataweb.WT/TPR/S/388 • Trinidad and Tobago  
 
- 34 - 
 
  Trinidad and Tobago was CAD 176 million; of this, 93.5% entered MFN duty -free and 2% duty -free 
under the CARIBCAN programme.32 
2.24.   Trinidad and Tobago is also eligible for preferential mark et access under the GSP schemes of 
Australia, Belarus, Kazakhstan, New Zealand, the Russian Federation and Turkey.33 
2.3.3   Investment regime  
2.25.   As noted in Trinidad and Tobago's previous Review, foreign direct investment (FDI) is 
encouraged in all sectors, and there  are no restrictions or disincentives to investment. InvesTT, a 
state-owned body falling under the MTI, is responsible for national investment promotion activities, 
and has been tasked with targeting investments in certain sector s, namely: agriculture and 
agro-processing, fishing and fish processing, maritime services, creative industries, and software 
development and manufacturing . It is the first point of access for foreign investors, and undertakes 
investor facilitation and aftercare, policy advocacy, an d country branding and marketing.34 As noted 
in Trinidad and Tobago's previous Review, the Government's investment promotion measures 
include partnering with the private sector to host events and organize trade missions. Under Trinidad 
and Tobago's Aid for Trade Strategy (see above), target sectors for investment are: clean 
technology, creative industries, agri -business, ICT, downstream energy, tourism , and maritime 
industries . All available investment incentives are listed on the Ministry of Finance website  
(Section  3.3.1).  
2.26.   Over the review period, there have been no changes to the main law governing foreign 
investment, the Foreign Investment Act (Table 2.2). Under the provisions of the Act, all investors 
from outside the CARICOM region are considered foreign  investors. Foreign investors are permitted 
to own 100% of share capital in a private company; they need a licence to own more than 30% of 
the share capital in a public company. Foreigners require a licence to purchase more than one acre 
for residential pu rposes and five acres for industrial/trade purposes in Trinidad; the Ministry of 
Finance processes these licence applications. Since 2007, acquisition of land of any size in Tobago 
has required a licence from the Tobago House of Assembly.35 There are no restrictions on long -term 
land leases (up to 199 years).  
2.27.   There is no FDI screening/approval process per se ; however , governmental approval is 
required for projects where by incentives are sought, and most investments (foreign and domestic) 
require government approval in some form  (i.e. building approvals, company registration, work 
permit approvals, etc.). As part of its aim to enhance the domestic investment climate, the 
Government, through the MTI, created a new Investment Approval and Facili tation Framework 
in 2017, which is designed to reduce bureaucracy and red tape faced  by current and potential 
investors.  The key objectives of this Framework are to: (a) help investors comply with laws and/or 
regulations at the national level; (b) simplify  the regulatory decision processes (registration, 
licensing, permitting, and land allocation) by increasing transparency, clarifying regulations and 
improving quality and speed of service; (c) provide pre -approval services to investors (market and 
business  data, investment opportunities, etc.); and (d) facilitate post -approval services to investors 
(permits, approvals, import of equipment and raw materials, work permits, etc.). A component of 
the Framework is the Inter -Ministerial Committee, appointed by th e Cabinet and chaired by the 
Minister of Trade and Industry. This Committee 's short-term objectives are to review, approve and 
facilitate investments in the non -energy sector worth over USD  5 million. The Committee has set a 
temporary standard of a maximum  of 60 days for approvals for simple projects (those not requiring 
environmental approvals) and 180 days for complex projects (those requiring environmental 
approvals). In the medium - long term, it will aim to rationalize current regulatory processes to me et 
international best practice.  
2.28.   Over the review period, new bilateral investment treaties (BITs) entered into force with 
Switzerland and Guatemala. No new double -taxation agreements (DTAs) were signed or entered 
                                                
32 The data source is Statistics Canada, as set out in WTO document WT/L/1036, 4 July 2018.  
33 Information provided by the authorities.  
34 Draft InvesTT Strategic Plan 2017 -20. Not available online.  
35 Guidelines and conditions  for licence under the Foreign Inv estment Act, 1990. Viewed at: 
https://www.finance.gov.tt/wp -content/uploads/2014/05/51.pdf ; MTI Investment Policy Statement. Viewed at: 
https://tradeind.gov.tt/investment -policy -statement ; and Legal Notice No. 53 of 2007.  WT/TPR/S/388 • Trinidad and Tobago  
 
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  into force since 2012 (Box 2.1). The CARICOM -United States TIFA entered into force in 2013.36 Over 
the review period, no investor -State disputes were brought against Trinidad and Tobago.  
Box 2.1 Investment framework, as at January 2019  
RTAs with investmen t provisions (date of entry into force)  
CARICOM -Venezuela RTA (1993); CARICOM Single Market (2002); CARICOM -Dominican Republic RTA (2002); 
CARIFORUM -EC EPA (2009); and CARICOM -Costa Rica RTA (2011) . 
BITs in force (date of entry into force)  
Canada  (1996); China (2004); Cuba (2000); France (1996); Germany (2010); Guatemala (2016); Korea, 
Republic of (2003); Mexico (2007); Spain (2004); Switzerland (2012); United Kingdom (1993); and 
United  States (1996).  
DTAs  in force (date of entry into force)  
Brazil (2008); Canada (1996); CARICOM (1994); China (2005); Denmark (1971); France (1989); Germany 
(1977); India (1999); Italy (1974); Luxembourg (2003); Norway (1970); Spain (2009); Sweden (1984); 
Switzerland (1974); United Kingdom (1983); United States of A merica (1970); and Venezuela (1997).  
Membership of  investment -related intergovernmental  agreements  
Multilateral Investment Guarantee Agency (MIGA) Convention; International Centre for Settlement of 
Investment Disputes (ICSID) Convention; and New York Convention.  
Source:  UNCTAD Investment Policy Hub  online information . Viewed at: 
http://investmentpolicyhub.unctad.org/IIA/CountryBits/212#iiaInnerMenu . 
2.4  Business En vironment  
2.29.   Trinidad and Tobago's rankings in performance indicators issued by external entities indicate 
that there remains scope to improve the climate for business and investment. It was ranked 83rd 
out of 137 economies  in the World Economic Forum's (WEF)  Global Competitiveness Report 2017 -18, 
and 105th out of 190 economies in the World Bank's 2019 Doing Business Report.37 
2.30.   Among t he major concerns reported by the WEF are: a poor work ethic in the national labour 
force; inefficient government bureaucracy; co rruption; and crime and theft. Trinidad and Tobago 
scored poorly in the World Bank's categories of "enforcing contracts", "paying taxes" and "registering 
property". Concerns have also been expressed by a major trading partner about foreign exchange 
shortag es that delay payments to foreign firms; lack of transpare ncy in public procurement; 
time-consuming resolution of legal conflicts; and shortages of skilled and unskilled labour.38 
2.31.   Nevertheless, several positive aspects of the climate for business and invest ment have been 
highlighted; its stable and democratic political system; its educated workforce; its well -regulated, 
well-capitalized and profitable banking system and insurance industry; an established rule of law; 
an independent and substantively fair jud icial system; high per -capita GDP; and the fact that public 
finances are bolstered by significant foreign reserves and a sovereign wealth fund.39 Trinidad and 
Tobago scored well in the World Bank's Doing Business indicators for "getting electricity"; "prote cting 
minority investors"; and "getting credit". Its highest rankings in the WEF's index relate to "higher 
education and training", "technological readiness" and "financial market development".  
2.32.   As reported by the Government, recent measures to improve the business environment have 
included improving customs procedures (Section 3.1 .1); steps towards unveiling an automatic 
                                                
36 UNCTAD online information. Viewed at: 
http://investmentpolicyhub .unctad.org/Download/TreatyFile/5107 . 
37 WEF. The Global Economic Competitiveness Report 2017 -18. Viewed at: 
https://www.weforum.org/reports/the -global -competitivene ss-report -2017-2018. World Bank Doing Business 
2019: Training for Reform. Viewed at: 
http://www.doingbusiness.org/content/dam/ doingBusiness/media/Annual -Reports/English/DB2019 -
report_web -version.pdf . 
38 U.S. Department of State 2017 Investment Climate Statements. Viewed at: 
https://www.state.gov/e/eb/rls/othr/ics/2017/wha/270100.htm . 
39 U.S. Department of State 2017 Investment Climate Statements. Viewed at: 
https://www.state.gov/e/eb/rls/othr/ics/2017/ wha/270100.htm . WT/TPR/S/388 • Trinidad and Tobago  
 
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  system for the approval of construction permits40; the launch of a new EximBank facility to provide 
foreign exchange to exporters (Section s 3.2, 3.3.1.2; and 4.4 ); the launch of an internal electronic 
system to manage visa waiver applications; and the acceptance of electronic payments at the Water 
and Sewerage Authority. A number of the procedures required for setting up a business can now be  
done online through the Government's single window system (TTBizLink), including: e -company 
registration (for which the standard processing time is 3 days); e -work permit (15 days); e -fiscal 
incentives (11  days); e -National Insurance Board registration (f or new limited liability companies) 
(1 day); and e -company/partnership and value added tax (VAT) registration (companies and 
partnerships (1 day and 2 days, respectively).41 The Government is also seeking to expand provision 
of loans and loan guarantees to businesses through state agencies , and is planning to establish a 
business development fund.42 Additionally , it has move d forward , or is planning to  do so , on a 
comprehensive legislative agenda to curb corruption, including acts on asset forfeiture, whistle  
blower protection, and public procurement and disposal of public property, as well as laws to 
empower enforcement agencies such as the Police Complaints Authority.43 Additionally, reforms have 
been undertaken, and are in the pipeline, to improve the crimin al and civil justice systems .44 Further 
reforms are considered necessary to improve the performance of Trinidad and Tobago's governing 
institutions and to devolve certain central government functions.45 The Government is also 
undergoing a review of its legis lative and institutional framework for trade and business in the 
country; apparently a gap analysis has been completed and the MTI is considering next steps.  
2.4.1   E-Commerce  
2.33.   The Electronic Transactions Act,  2011 gives legal effect to electronic documents, elect ronic 
signatures and electronic transactions.46 According to the authorities,  e-commerce has grown but is 
still not widely used; in 2018, ten domestic retailers were offering e -commerce to the local population 
(up from five a few years ago). However, accord ing to the authorities, even when e -commerce is 
available by local retailers, Trinidad and Tobago consumers generall y prefer to shop online at 
U.S. stores for better quality, variety and price. The Government has estimated that domestic 
consumers spend aro und USD  500 million annually on U.S. purchases via e -commerce. According 
to the authorities, business -to-business e -commerce is very small. E -commerce services generally 
revolve around website development, but even so, payment usually takes place physicall y. An Online 
Purchase Tax was introduced in 2016 (Section 3.3.1.1).  
2.34.   The MTI's National E -Commerce Strategy for the period 2017 -21 was issued in 2017. Its main 
goals are: a comprehensive and effective regulatory environment for e -commerce; the 
implementatio n of an Electronic Funds Transfer (EFT) Framework; increased private sector 
                                                
40 Budget Statement 2018. Viewed at: http://www.news.gov.tt/sites/default/files/BUDGET -STATEMENT -
2018.pdf . 
41 MTI Investment Policy Statement. Viewed at: 
file:///C:/Users/Waters/AppData/Local/Microsoft/Windows/INetCache/IE/UVFFHTPF/INVESTMENT - POLICY -
STATEMENT.pdf . 
42 Budget Statement  2018. Viewed at: http://www.news.gov.tt/sites/default/files/BUDGET -STATEMENT -
2018.pdf . 
43 Ministry of Planning and Development online information. Viewed at: 
https://tradeind.gov.tt/?attachment -id=4243 . 
44 As reported by the authorities, measures which took effect over the review period were: (a) the 
introduction of criminal procedure rules in 2016 to improve case s cheduling and management; 
(b) improvements to plea bargaining legislation to encourage plea discussions and agreements and thus 
remove a large number of matters from the judicial system; (c) the introduction of judge -only trials in criminal 
matters at the high court to address voir dires  and juror intimidation which had lengthened the course of 
criminal trials; (d) improved access to bail for offenders to reduce the remand population, and to lessen the 
strain on resources and divert them to a better use wit hin the judicial system; (e) the decriminalization of 
certain road traffic offences, so as to allow the judiciary to manage more serious matters; (f) the passage of 
legislation which allows the Chief Justice to create specialized courts, so as to ensure be tter efficiency and 
resource allocation; and (g) anti -gang legislation. Various other reforms to the justice system are in the 
pipeline.  
45 In the Government's Vision 2030 document, it is stated that "our constitution and governing 
institutions are in grave  need of transformation as many exhibit poor service delivery and low productivity, 
coupled with the need for greater transparency and accountability in their operations". Strengthened oversight, 
accountability and autonomy of independent institutions is e nvisaged, as is public sector reform through 
performance management, modernized structures, strengthened coordination and capacity -building, and 
devolution of certain central government powers.  Ministry of Planning and Development online information. 
Viewe d at: https://www.planning.gov.tt//content/vision -2030. 
46 Electronic Transactions Act. Viewed at: http://www.ttparliament. org/legislations/a2011 -06.pdf . WT/TPR/S/388 • Trinidad and Tobago  
 
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  participation in e -commerce; increased consumer awareness and confidence in e -commerce; and 
enhanced ICT infrastructure for commercial activity throughout the country. It contains an 
implementation plan for each of these goals.47 
2.35.   Trinidad and Tobago's National ICT Plan for the per iod 2017 -21 (Section  4.5.3) contains the 
strategies that the government intends to implement in order to create the environment for an 
innovative, entrepren eurial and vibrant ICT sector. These includ e (a) advancing e -commerce; 
(b) diversifying the economy through ICT sector development; and (c) increasing digital content 
production.  
2.36.   The CARIFORUM -EU EPA (see above) provides for a dialogue between parties on r egulatory 
issues raised by e -commerce. Under this Agreement, the parties a greed that the development of 
e-commerce must be compatible with high standards of data protection, and that deliveries by 
electronic means are to be considered as the provision of s ervices and are not subject to customs 
duties.48 
                                                
47 MTI Nati onal E -Commerce Strategy 2017 -21. Viewed at: https://tradeind.gov.tt/national -e-
commerce -strategy -2017-2021. 
48 CARIFORUM -EU EPA, Articles 119 and 120. Viewed at: https://eur -lex.europa.eu/legal -content/EN/ 
TXT/PDF/?uri=CELEX:22008A1030(01)&from=EN . WT/TPR/S/388 • Trinidad and Tobago  
 
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 3  TRADE POLICIES AND P RACTICES BY MEASURE  
3.1  Measures Directly Affecting Imports  
3.1.1   Customs procedures, valuation, and requirements  
3.1.  The Customs Act and Customs Regulations set out the rules governing customs procedures in 
Trinidad and Tobago. The Act was amended twice over the review period, through Acts No.  6 of 
2013 and No. 7 of 2016. The 2013 amendments, inter alia , require advance passenger and cargo 
information1 to be sent to the Comptroller of Customs and Excise; this may be done electronically.2 
The 2016 amendments exempt new and used electric and hybrid vehicles from import duties, 
provided certain criteria are met, and reduced to zero import duties on compressed natural gas 
(CNG) systems and component parts.3 Customs procedures are administered by the Customs and 
Excise Division, which falls under the competence of the Ministry of Finance (MOF). Consideration is 
being given to e stablishing a revenue authority, which would replace both the Board of Inland 
Revenue and the Customs and Excise Division (Section 2.2).  
3.2.  Trinidad and Tobago ratified the WTO Trade Facilitation Agreement  (TFA)  in July 2015. It 
notified its Category A commit ments under the TFA in 2015 .4 In 2017 it notified its C ategory B and 
C commitments with indicative dates as well as its technical assistance requirements for Category 
C. In 2018 it provided its definitive dates for Categories B and C .5 As at December  2018, it had 
achieved a 21.4% rate of implementation  of commitments  (based on their notifications) ; this should 
increase to 70.6% by end -2027 with capacity building support.6 
3.3.  The requirement to hire a local customs broker for all imports over TTD  20,000 remains  in 
place7, although this is not currently applied to imports purchased online.8 The authorities state that 
the Government has no plans to remove the requirement to use customs brokers.9 Electronic 
submission of documentation  is, in practice, mandatory. Customs brokers fill out the required 
documentation (the e -C82 declaration and other required documents10) and upload it onto the 
Customs and Excise Border Control System (CBCS)/ASYCUDA online system; in doing so, they are 
responsible for self -assessing the  duties and taxes payable. An Assessment Notice is then generated 
by the online system, which enables customs brokers to effect payment of import duties, other 
taxes, and user fees (user fees are TTD  40 for commercial, and TTD  10 for non -commercial 
                                                
1 Information  requirements are set out in the Ninth Schedule to the Customs Act.  
2 The Customs (Amendment) Act No. 6 of 2013. Viewed at: 
http://customs.gov.tt/content/CUSTOMS%20AMEND MENT%20ACT%206%202013.pdf . 
3 Used electric and hybrid vehicles must not be older than four years from the year of manufacture. The 
engine size of electric vehicles must not exceed 179 kW, and that of hybrid vehicles must not exceed 1999 cc. 
A copy of the 2 016 amendments to the Act was not available online.  
4 WTO document WT/PCTF/N/TTO/1, 15 June 2015. Category A commitments relate to: consultations 
(Article 2.2); specific disciplines on fees and charges (6.2); penalty disciplines (6.3); perishable goods (7. 9); 
formalities (10.1); preshipment inspection (10.5); rejected goods (10.8); temporary admission of goods 
(10.9); and transit (11).  
5 WTO document G/TFA/N/TTO/1, 27 November 2017; and WTO document G/TFA/N/TTO/2, 
28 September 2018.  
6 TFA Database online in formation. Viewed at: https://www.tfadatabase.org/members/trinidad -and-
tobago . 
7 These requirements are set out in the Customs Brokers and Custom Clerks Act (last amended in 2005) 
and the Customs Brokers and Customs Clerks Regulations. Viewed at. 
https://www.ttbizlink.gov.tt/tntcmn/faces/pnu/TariffLegislationDownloads.jsf . Customs brokers must b e 
licensed by the Customs Brokers' Board which  involves, inter alia , an examination, payment of a bond and a 
requirement to be a resident of Trinidad and Tobago. The fees that customs brokers may levy are specified in 
the Customs Brokers and Custom Clerks Regulations.  
8 Currently, couriers undertake customs clearance on behalf of persons who make purchases online from 
abroad. With the foreseen upgrade of the ASYCUDA system, customs clearance of these imported products will 
then be done by customs brokers.  
9 In the context of this Review, the authorities indicated that, with the mandatory online submission of 
customs declarations, the role of customs brokers has become more important than before, due to their 
expertise in the harmonized system and in the pro cessing and clearance of cargo, as well as their knowledge of 
customs laws and regulations.  
10 Other required documents are: an invoice (CARICOM area or commercial), a copy of the airway bill or 
bill of lading, an import licence (if required), and a declara tion on the e -C75 form (e -C76 forms are used when 
there is an ongoing demand -supply relationship between the importer and the supplier) signed by the 
importer.  WT/TPR/S/388 • Trinidad and Tobago  
 
- 39 - 
 
  declara tions). Payments must either be made directly with the Customs Cashier, or drawn down 
from a lump -sum deposit. The Ministry of Trade and Industry (MTI) and MOF are developing an 
online payment system, which should be operational by June 2019. Once duties a nd taxes are paid, 
the CBCS sends a data -set to the Government's Single Electronic Window System (TTBizLink) (see 
below), so that any required additional endorsements may be made by relevant government 
agencies through this system and sent back to the CBCS . Importers may request an advance 
customs ruling; this is binding.  
3.4.  TTBizLink was first launched in 2012, and various functions have been added since. The project 
is in the final stage of implementation; the authorities expect it to be fully operational by  2021. It 
enables individuals and businesses to perform several operations online 24 hours a day, seven days 
a week. The import -related e -services that are now operational include: applications for import duty 
concessions, and import permit and licence app lications with all relevant agencies  (the Trade 
Licensing Unit of the MTI; the Trinidad and Tobago Bureau of Standards (TTBS); the Plant Quarantine 
Services of the Ministry of Agriculture, Land and Fisheries; and the Animal Health, and Chemistry, 
Food and Drugs Divisions of the Ministry of Health).  
3.5.  While TTBizLink calculates any associated fees, their payment may not currently be made 
online.11 The time to obtain import/export permits has been reduced from four weeks to one day, 
and the time to obtain duty c oncessions has been reduced from six weeks to 12 days .12   
3.6.  In 2013, a Voluntary Compliance Programme was launched; it allows participating importers 
to print out their cargo release orders from the CBCS/ASYCUDA online system once duties and taxes 
have been paid. This Programme is in the pilot stage, involving a selected group of importers with a 
history of compliance. It is to be reviewed and, if the results are positive, the authorities aim to 
generalize it.  
3.7.  Around  30-35% of imports are physically inspected , compared to approximately 20 -25% at 
the time of the previous Review; the authorities indicate that physical inspections are linked to risk 
management and national security. The selection of goods for inspection is related to the type and 
value of goods, goods  with high duty rates, frequently misclassified tariff heading numbers, repeat 
offenders, and source country.  
3.8.  Where documentary submissions do not support physical examinations with regard to the 
quantity and description of the declared goods, Customs  requires payment of additional duties.13 
Depending on the level of discrepancies found, fines may also be payable. At the point of the physical 
examination of cargo, if an importer disagrees with Customs' decisions they may ask for an on -site 
administrativ e review. In the case of a continued disagreement, the importer has 90 days to appeal 
to the Classification Committee under the Comptroller of Customs and Excise; the time -frame for 
resolution of disputes at this level is 90 days. The authorities indicate that there have been problems 
meeting these deadlines due to staffing problems. In such cases, importers may opt to clear goods 
by paying a deposit, amounting to the disputed duties and taxes, into an escrow account. If the 
Classification Committee finds i n favour of the importer, the deposit is refunded. The final avenue 
for appeal is the Tax Appeal Board; there is no set time -frame for dispute resolution at this level. 
The authorities indicate that most disputes relate to classification issues. Procedures  are in place for 
post-clearance audit; these are linked with customs self -assessment.  
3.9.  Trinidad and Tobago continues to be ranked relatively poorly (in 130th place out of 190 
economies) in the World Bank's 2019 Doing Business report for trading across bord ers. It indicates 
that the time taken to import is 44 hours and for border compliance is 78 hours. The cost of 
documentary compliance is estimated at USD  250, and that of border compliance is USD  635.14 As 
noted by the authorities, while there have been imp rovements in document controls through 
                                                
11 For example, the TTBS inspection fees may be paid using various methods (drawdown from a 
pre-paid TTBS account; direct payment at certain branches of specific banks; or payment by credit card at 
TTBS offices), and the Ministry of Health's import permit fees (TTD  10 per permit) must be paid directly at the 
District Revenue Office.  
12 Trinidad and Tob ago Guardian article on the TTBizLink website. Viewed at: 
https://www.ttbizlink.gov.tt/trade/tnt/cmn/pdf/Newspaper%20Clipping%20SEW.PDF . 
13 WTO document WT/TPR/S/260/Rev.1, 2 May 2012.  
14 World Bank Doing Business 2019: Training for Reform. Viewed at: 
http://www.worldba nk.org/content/dam/doingBusiness/media/Annual -Reports/English/DB2019 -report_web -
version.pdf . WT/TPR/S/388 • Trinidad and Tobago  
 
- 40 - 
 
  automation, challenges relating to physical inspection and the movement of cargo in ports remain. 
Steps being taken to address these bottlenecks include: the purchase of port scanners to speed up 
the inspection proces s; investment in a modern risk -management system ; and the issuance of a 
tender for a port community system.  
3.10.   There have been no changes to customs valuation procedures over the review period. 
Customs value is based on the transaction value15; and in cases of  reasonable doubt, the 
determination of customs value follows the methods and order defined in the Customs Valuation 
Agreement (CVA). Sales between related persons are subject to special customs valuation 
provisions.16 During the review period, Trinidad and  Tobago did not invoke any of the provisions for 
special and differential treatment available for developing countries concerning delayed application 
of and reservations to the CVA. In case of doubt, suspected fraudulent invoices, or failure to present 
invoices, reference price lists or guidelines (which are unpublished) may be used to verify values.17 
As indicated by the authorities at the time of the previous Review, a difference between the declared 
value of a shipment and the database value is not, by it self, a reason to reject the declared value.18 
3.11.   Trinidad and Tobago has notified the WTO that it does not have legislation on, nor does it 
carry out, preshipment inspections.19 
3.1.2   Rules of origin  
3.12.   According to its notifications to the WTO, Trinidad and Tobago does not maintain any non -
preferential rules of origin.20 
3.13.   Preferential rules of origin are in place for imports from CARICOM members and from countries 
with which Trinidad and Tobago has regional trade agreements (RTAs). The main features of the 
CARICOM Rul es of Origin are described in detail in the last Review.21 A review of these Rules (and 
the Common External Tariff (CET)) was launched in July 2017 to assess what revisions are necessary 
in light of advances in technology, and RTAs.22 The draft report has be en issued and is being 
considered by CARICOM members.  
3.14.   Rules of origin under the EU -CARIFORUM EPA are set out in Protocol 1.23 Products that must 
be wholly obtained to confer origin may incorporate non -originating materials if they do not exceed 
15% of the ex-works  price of the finished good.  Working requirements to achieve origin status are 
listed in Annex II to Protocol I; they vary depending on the product. In some cases, the producer of 
the goods can choose between alternative working or processing requi rements to qualify for 
originating status. Final substantive manufacturing operations must take place in a CARIFORUM or 
EU member State, and originating goods must be transported directly from the exporting to the 
importing country unless certain requireme nts are met.24 CARIFORUM States are treated as one 
territory in determining origin. For goods considered as origi nating in both CARIFORUM and 
EU States, cumulative treatment is applied to inputs from Overseas Countries and Territories (OCTs) 
and other Afric an, Caribbean and Pacific (ACP)  States. However, for this to be operationalized, both 
EU member States and CARIFORUM States must establish and notify arrangements for 
                                                
15 No data was available on the percentage of goods imports valued according to the transaction value.  
16 For further details on customs valuation determination, see WTO document WT/TPR/S/260/Rev.1, 
2 May 2012. Legislation on customs valuation was notified to the WTO Committee on Customs Valuation under 
Article 22.2 of the Agreement on Implementation of Artic le VII of the GATT 1994 (WTO document 
G/VAL/N/1/TTO/1, 12 November 1998). Trinidad and Tobago submitted its replies to the check -list of issues to 
the CVA Committee in 1998 (WTO document G/VAL/N/2/TTO/1, 12 November 1998).  
17 WTO document WT/TPR/S/151/Rev.1 , 12 October 2005.  
18 WTO document WT/TPR/M/260/Add.1, 20 April 2012.  
19 WTO document G/PSI/N/1/Add.8, 28 September 1999.  
20 WTO document G/RO/N/24, 15 January 1999.  
21 WTO document WT/TPR/S/260/Rev.1, 2 May 2012.  
22 As reported by the authorities, RTA rules of  origin often give more favourable conditions for goods 
coming from third countries than regionally -produced goods.  
23 The text of both Protocol 1 and Annex II of the EU -CARIFORUM EPA was viewed at: 
http://trade.ec.europa.eu/doclib/docs/2008/february/tradoc_137971.pdf . 
24 The requirements to be met if goods are transported through a third country are: (a) the transport 
documents must show the final destination of the goods t o be a CARIFORUM State or an EU Member State; 
(b) the goods concerned must remain under customs supervision in the country of transit; and (c) no 
interference with the goods is permitted during transit, beyond unloading and reloading, and what may be 
neces sary to keep them in good condition.  WT/TPR/S/388 • Trinidad and Tobago  
 
- 41 - 
 
  administrative cooperation with these States; this has not yet been done. CARIFORUM State s may 
also apply cumulative treatment to inputs from certain developing neighbouring countries ( Colombia, 
Costa Rica, Cuba, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama and Venezuela). 
To benefit from these provisions, CARIFORUM States must send a request to the Special Committee 
on Customs Co -operation and Trade Facilitation , and have an arrangement for administrative 
cooperation in place with these States; this has not yet been done.  The working/processing by 
CARIFORUM and EU States on mate rials from foreign States under cumulation provisions must go 
beyond the "insufficient working/processing" criteria listed in Article 8 to Protocol  1.25 
3.15.   The only RTA that entered into force over the review period was a partial -scope agreement 
with Panama, w ith preferences granted by Trinidad and Tobago covering 258 tariff lines (Section 2). 
The rules of origin are contained in Annex C to the Agreement. Where goods are produced using 
non-originating materials, Appendix 1 to the Agreement sets out the requirem ents that must be 
met; generally, a change in tariff classification. Direct transportation is obligatory.26 
3.1.3   Tariffs  
3.1.3.1   Structure  
3.16.   In 2018, the applied MFN tariff in Trinidad and Tobago varied between duty free and 67.5%. 
Nearly all tariffs are applied on an ad valorem  basis, with 0.4% of all tariff lines subject to specific 
duties. The 2018 tariff, which is based on the HS2012 nomenclature, comprised 6,480 lines at the 
eight-digit level, up from 6,295 lines in 2011, which was based on the HS07 nomenclature. Over all, 
tariff protection is highest on products at the first stage of processing; it is lowest for semi -processed 
products, and increases for fully -processed products. Domestic tariff peaks affect 10.5% of all tariff 
lines, while international tariff peaks a ffect 29.5% of them. Overall standard deviation increased 
from 11.9% in 2011 to 13.1% in 2018 (Table 3.1).  
Table 3.1 Structure of tariff schedule, 2004, 2011 and 2018  
(%)   
2004  2011  2018  
1. Total number of tariff lines  6,437  6,295  6,480  
2. Non-ad valorem  tariffs (% of all tariff lines)  0.4 0.4 0.4 
3. Non-ad valorem  with no ad valorem  equivalents ( AVEs) (% of all tariff lines)  0.4 0.4 0.4 
4. Lines subject to tariff quotas (% of all tariff lines)  0.0 0.0 0.0 
5. Duty-free tariff lines (% of all tariff lines)  45.4 61.4 60.7 
6. Dutiable lines tariff average rate (%)  16.7 22.2 23.3 
7. Simple average tariff (%)  9.1 8.5 9.1 
8. WTO agriculture  17.1 17.5 17.9 
9. WTO non -agriculture (incl. petroleum)  7.6 6.8 7.3 
10. Agriculture, hunting, forestry and fishing (ISIC 1)  20.6 21.4 22.0 
11. Mining and quarrying (ISIC 2)  3.2 2.4 2.5 
12. Manufacturing (ISIC 3)  8.4 7.7 8.1 
13. First stage of processing  15.3 16.3 17.8 
14. Semi-processed products  2.1 1.6 2.0 
15. Fully processed products  11.2 10.3 10.6 
16. Domestic tariff peaks (% of all tariff lines)a 8.4 8.8 10.5 
17. International tariff peaks (% of all tariff lines)b 28.2 28.0 29.5 
18. Overall standard deviation  11.8 11.9 13.1 
19. Bound tariff lines (% of all tariff lines)  100.0  100.0  100.0  
a Domestic tariff peaks are defined as whose exceeding t hree times the overall average applied rate.  
b International tariff peaks are defined as those exceeding 15%.  
Source:  WTO Secretariat calculations, based on data provided by the authorities.  
                                                
25 CARICOM "The Rules of Origin under the CARIFORUM -EU EPA". Viewed at: 
https://caricom.org/images/publications/11046/9586_pages_opt.pdf . 
26 Partial Scope Trade Agreement Between the Republic of Trinidad and Tobago and the Republic of 
Panama. Viewed at: http://www.sice.oas.org/TPD/PAN_TTO/Text_e.asp#P_II_A_VII . WT/TPR/S/388 • Trinidad and Tobago  
 
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  3.1.3.2   Tariff bindings  
3.17.   Trinidad and Tobago has bound 100% of its tariff lines at the eight -digit level. All bindings are 
ad valorem . The overall average bound tariff is 57%; it is 90%  for agricultural products 
(WTO  definition) and 51%  for non -agricultural products. Under its Uruguay Round commitments, 
Trinidad and Tobago bound all agricultural products at 100% except for seven items (some poultry 
products, fresh cabbage and lettuce, and roasted coffee beans), which were bound at rates of 
between 106% and 156%. Industrial products are mostly bound at 50%; table salt, Portland cement, 
certain cosmetics, garments, footwear, some household durables, and cars and spare parts are 
bound at 70%. Other duties and charges have been bound at 15% f or all products.  
3.18.   The applied MFN rate exceeded the bound rate on 59 lines in 2018, up from 50 in 2011 
(Table  3.2); this can be attributed to a change in HS nomenclature from HS07 to HS2012. At the 
time of its previous Review, Trinidad and Tobago explained that, in most cases, when the applied 
rate exceeds the bound rate, the tariffs for the products concerned were fixed with the adoption of 
the CET (see below).27 The authorities state that the issue of broken bindings is being considered in 
the context of th e CARICOM Rules of Origin and CET review (Sections 3.1.2 and 3.1.3.5).  
Table 3.2 Items for which the applied MFN tariffs exceeds the final bound rate, 2018  
HS code  MFN duty Bound duty Product description  
01061110  40 15 Monkeys  
01061190  40 15 Other primates  
01061200  40 15 Whales, dolphins and porpoises (mammals of the order cetacea ); 
manatees , etc. 
01061300  40 15 Camels and other camelids ( camelidae ) 
01061400  40 15 Rabbits and hares  
01061910  40 15 Dogs 
01061920  40 15 Cats 
01061990  40 15 Other mammals  
01062010  40 5 Turtles  
01062090  40 15 Other reptiles  
01063100  40 15 Birds of prey  
01063200  40 15 Psittaciformes  (including parrots, parakeets, macaws and 
cockatoos)  
01063300  40 15 Ostriches; emus ( dromaius novaehollandiae ) 
01063910  40 15 Pigeons  
01063990  40 15 Live birds of a kind used as,  or yielding or producing food for , 
human consumpt ion 
01064190  40 15 Worker honey bees  
01064900  40 15 Other live insects  
01069000  40 15 Other live animals, not elsewhere specified  
06029010  15 0 Banana plants  
06029020  15 0 Coconut plants  
06029030  15 0 Cocoa plants  
06029040  15 0 Citrus plants  
07081000  40 0 Peas ( pisum sativum ) 
07082010  40 0 String beans, fresh or chilled  
07082020  40 0 Bora ( bodi) bean ( vigna spp .), fresh or chilled  
07082030  40 0 Blackeye peas ( vigna unguiculata ), shelled or unshelled, fresh or 
chilled  
07082090  40 0 Other beans,  (vigna spp, phaseolus spp ), fresh or chilled  
07089010  40 0 Pigeon peas ( cajanus cajan ), shelled or unshelled, fresh or chilled  
07089090  40 0 Other leguminous vegetables, shelled or unshelled, fresh or 
chilled  
09041100  40 15 Pepper, neither crushed nor ground, dried by nat ural means  
09041200  40 15 Pepper, treated, crushed/ground  
09042120  40 15 Pimento (allspice), dried, neither crushed nor ground  
09042220  40 15 Pimento (allspice), crushed or ground  
25221000  10 0 Quicklime  
25222000  10 0 Slaked lime  
25223000  10 0 Hydraulic lime  
                                                
27 WTO document WT/TPR/M/260/Add.1, 20 April 2012.  WT/TPR/S/388 • Trinidad and Tobago  
 
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  HS code  MFN duty Bound duty Product description  
36049090  20 15 Other signalling flares and other pyrotechnic articles  
37025200  20 5 Other film, for colour photography (polychrome): of a width not 
exceeding 16 mm  
37025300  20 5 Other film of width exceeding 16mm but less than or equal to 
35mm , and of a length less than or equal to 30m, for slides  
37025600  20 5 Other film for colour photography of a width exceeding 35mm  
42010000  20 15 Saddlery and harness es for any animal (incl. traces,  leads, knee 
pads) 
43031000  20 0 Articles of apparel and clothing accessories of furskin  
43039090  20 0 Other articles of furskin  
43040020  20 0 Articles of artificial fur  
66011000  20 15 Garden or similar umbrellas  
66019100  20 15 Umbrellas and sun umbrellas, having a telescopic shaft  
66019900  20 15 Other umbrellas and sun umbrellas  
66020000  20 15 Walking -sticks, seat -sticks, whips, riding -crops and the like  
68021010  20 15 Tiles, cubes and similar articles enclosed in a square, side  less 
than 7cm 
68022310  20 15 Articles of granite  
68022910  20 15 Articles of other monumental/building stone  
68029110  20 15 Other articles of marble, travertine and alabaster  
68029210  20 15 Articles of other calcareous stone  
68029310  20 15 Other articles of granite  
68029910  20 15 Articles of other stone  
92021000  10 0 Other string musical instruments; played with a bow  
92029000  10 0 Other string musical instruments  
01023900  40 33.3 Other buffalo  
01029000  40 25 Other live bovine animals  
Source:  WTO Secretariat, based on the Consolidated Tariff Schedule , and data provided by the authorities.  
3.1.3.3   Applied tariff  
3.19.   Trinidad and Tobago applies the CARICOM CET with certain exceptions (Section 3.1.3.5). The 
average applied MFN tariff (excluding specific duties) in 2018 was 9.1%, up from 8.5% in 2011. 
According to the authorities, this change was due to tariff increas es on some products. As per 
WTO sectoral definitions, average tariffs on agricultural products are higher than those on non -
agricultural products. The average applied MFN tariff on agricultural products was 17.9% in 2018, 
while that on non -agricultural produc ts was 7.3% (Table 3.3). The difference between average bound 
rates and the average applied MFN rates gives the authorities considerable scope to increase tariffs.28 
Table 3.3 Summary analysis of the MFN tariff , 2018  
 
MFN  
 No. of 
lines  Average 
(%) Range  
(%) Coefficient 
of 
variation 
(CV)  Final bound  
averagea  
(%) 
Description    
   
Total  6,480  9.1 0 - 67.5 1.4 55.8 
HS 01 -24 1,317  21.4 0 - 65.7 0.8 78.4 
HS 25 -97 5,163  6.0 0 - 67.5 1.6 51.1 
By WTO category       
WTO agriculture  1,118  17.9 0 - 65.7 1.0 86.3 
 - Animals and products thereof  177 24.0 0 - 40 0.7 75.7 
 - Dairy products  25 12.4 0 - 40 1.1 100.0  
 - Fruit, vegetables and plants  327 22.2 0 - 40 0.8 93.5 
 - Coffee and tea  29 15.7 0 - 40 1.0 80.7 
                                                
28 At the time of its previous Review, Trinidad and Tobago explained that, like other developing country 
WTO Members, it does not have many options to defend its domestic industry from damage due to imports, 
nor does it have the resources to provide many subsidies. Hence, the ability to increase the applied rate is the 
most easily implemented option to address any such concerns. It was further indicated that there were no 
plans to reduce the difference between ap plied and bound rates beyond what could be expected from the 
conclusion of the Doha Development Round. WTO document WT/TPR/M/260/Add.1, 20 April 2012.  WT/TPR/S/388 • Trinidad and Tobago  
 
- 44 - 
 
   
MFN  
 No. of 
lines  Average 
(%) Range  
(%) Coefficient 
of 
variation 
(CV)  Final bound  
averagea  
(%) 
 - Cereals and preparations  138 13.4 0 - 40 1.0 84.5 
 - Oil seeds, fats and oils and 
their products  109 13.3 0 - 40 1.4 85.8 
 - Sugars and confectionary  24 22.1 0 - 40 0.8 100.0  
 - Beverages, spirits and tobacco  119 25.0 0 - 65.7 0.7 100.0  
 - Cotton  6 0.0 0 - 0 n.a. 80.0 
 - Other agricultural products 
n.e.s.  164 7.0 0 - 40 2.0 80.1 
WTO non -agriculture (incl. 
petroleum)  5,362  7.3 0 - 67.5 1.5 50.6 
 - WTO non -agriculture (excl. 
petroleum)  5,330  7.3 0 - 67.5 1.5 50.7 
 - - Fish and fishery products  277 29.6 0 - 40 0.5 50.4 
 - - Minerals and metals  1,108  4.4 0 - 30 1.9 45.9 
 - - Chemicals and photographic 
supplies  1,005  3.7 0 - 40 2.0 50.4 
 - - Wood, pulp, paper and 
furniture  331 7.7 0 - 20 1.1 51.5 
 - - Textiles  629 3.5 0 - 30 2.2 50.6 
 - - Clothing  281 19.8 0 - 20 0.1 70.0 
 - - Leather, rubber, footwear and 
travel goods  180 7.6 0 - 30 1.3 51.7 
 - - Non-electric machinery  592 2.6 0 - 30 2.7 50.1 
 - - Electric machinery  265 7.2 0 - 30 1.3 53.4 
 - - Transport equipment  187 8.2 0 - 67.5 1.8 52.9 
 - - Non-agriculture articles n.e.s.  475 11.2 0 - 40 0.9 49.0 
 - Petroleum  32 13.6 0 - 30 1.0 43.0 
By ISIC sectorb      
Agriculture and fisheries  512 21.9 0 - 40 0.9 64.4 
Mining  106 2.5 0 - 30 3.0 37.0 
Manufacturing  5,861  8.1 0 - 67.5 1.4 55.5 
By HS section       
 01 Live animals and products  451 27.1 0 - 40 0.6 64.6 
 02 Vegetable products  433 18.7 0 - 40 1.0 81.8 
 03 Fats and oils  54 23.0 0 - 40 0.8 96.9 
 04 Prepared food, etc.  379 17.4 0 - 65.7 0.8 92.5 
 05 Minerals  191 5.1 0 - 30 1.9 40.6 
 06 Chemical and products  936 3.2 0 - 40 2.2 51.2 
 07 Plastics and rubber  244 6.1 0 - 30 1.4 52.1 
 08 Hides and skins  80 7.4 0 - 20 1.3 48.4 
 09 Wood and articles  133 8.9 0 - 20 0.9 45.6 
 10 Pulp, paper, etc.  167 4.6 0 - 20 1.8 52.1 
 11 Textile and articles  899 8.1 0 - 20 1.2 56.6 
 12 Footwear, headgear  59 14.8 0 - 20 0.5 58.5 
 13 Articles of stone  185 6.8 0 - 25 1.3 47.4 
 14 Precious stones, etc.  62 15.5 0 - 30 1.0 43.4 
 15 Base metals and products  708 3.5 0 - 20 2.0 48.3 
 16 Machinery  872 4.2 0 - 30 2.0 51.3 
 17 Transport equipment  198 7.9 0 - 67.5 1.8 52.8 
 18 Precision equipment  226 8.5 0 - 30 1.3 48.4 
 19 Arms and ammunition  22 20.9 0 - 30 0.5 42.2 
 20 Miscellaneous manufacturing  173 14.7 0 - 40 0.5 52.6 
 21 Works of art, etc.  8 20.0 20 - 20 0.0 50.0 WT/TPR/S/388 • Trinidad and Tobago  
 
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MFN  
 No. of 
lines  Average 
(%) Range  
(%) Coefficient 
of 
variation 
(CV)  Final bound  
averagea  
(%) 
By stage of processing       
First stage of processing  936 17.8 0 - 40 1.1 59.3 
Semi-processed products  1,880  2.0 0 - 40 3.2 50.3 
Fully processed products  3,664  10.6 0 - 67.5 1.1 58.3 
n.a. Not applicable . 
a Bound rates are provided , and applied rates are in the HS2012 nomenclature but they don't have 
the same number of lines; therefore, averages may not be comparable.  
b ISIC (Rev.2) classifi cation, excluding electricity (1 line).  
Source:  WTO Secretariat cal culations, based on data provided by the authorities.  
3.20.   Over 88% of applied tariff rates range from zero to 20%. Over 60% of tariff lines are duty 
free (Chart 3.1).  
Chart 3.1 Frequency distribution of MFN tariff rates, 2018  
 
a The total number of ad valorem  lines is 6,454.  
Source:  WTO Secretariat calculations, based on data provided by the authorities.  
3.21.   Specific duties are applied on 26 tariff lines (mainly alcoholic beverages) (Table  3.4). These 
products are included in List C of the CARICOM CET exceptions (Section 3.1.3.5). It is possible that 
the application of specific duties could lead to the applied  duty exceeding the bound rate. There 
were no figures to allow the estimation of ad valorem  equivalents (AVEs) of the specific duties; as 
a consequence, all tariff statistics calculations exclude these 26 lines.  
(60.7%)
(0.5%)(3.1%)(5.7%)(18.4%)
(0.6%)(2.0%)
(0.0%)(8.5%)
(0.4%)
0102030405060708090100
05001,0001,5002,0002,5003,0003,5004,0004,500
Duty free >0-5 >5-10 >10-15 >15-20 >20-25 >25-30 >30-35 >35 Specific
dutyChart 3.1
Frequency distribution of MFN tariff rates, 2018
Number of tariff linesa%
Cumulative per cent
Number of lines (% of total)
a             The total number of ad valorem lines is 6,454.
Source:    WTO Secretariat calculations, based on data provided by the authorities.WT/TPR/S/388 • Trinidad and Tobago  
 
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  Table 3.4 Specific duties, 2018  
HS heading  Product description  Specific duty  (TTD)  
22030010  Beer 10.54 per litre  
22041000  Sparkling wine  105.46 per litre  
22030020  Stout  13.19 per litre  
22030090  Porter and ale  13.19 per litre  
21039050  Aromatic bitters  2.42 per litre  
22072010  Bio-ethanol, denatured, of any strength  2.91 per litre  
22072090  Other ethyl alcohol and other spirits, denatured, of any strength  2.91 per litre  
22071010  Bio-ethanol, undenatured, of an alcoholic strength by volume of 
80% or more 31.42 per litre  
22071090  Other undenatured ethyl alcohol of an alcoholic strength by 
volume of 80% or more 31.42 per litre  
22089000  Undenatured ethyl alcohol of an alcoholic stre ngth by volume of 
less than 80%  37.70 per litre  
22060010  Shandy  52.73 per litre  
22060090  Other fermented beverages  52.73 per litre  
22042100  Wine of fresh grapes, grape must in containers holding 2 litres or 
less 58.31 per litre  
22042990  Other wine of fresh grapes  58.31 per litre  
22051000  Vermouth and other wines of fresh grapes in cont ainers  holding 2 
litres or less  79.09 per litre  
22059000  Vermouth and other wines of fresh grapes  79.09 per litre  
22082010  Brandy, in bottles , of a strength not exceeding 46% vol ume 92.28 per litre  
22082090  Other spirits obtained by distilling grape wine or grape marc  92.28 per litre  
22083010  Whisk y, in bottles , of a strength not exceeding 46% vol ume 92.28 per litre  
22083090  Other  92.28 per litre 
22084010  Tafia, in bottles , of a strength not exceeding 46% vol ume 92.28 per litre  
22084090  Other tafia  92.28 per litre  
22085010  Gin and geneva,  in bottles , of a strength not exceeding 46% 
volume  92.28 per litre  
22085090  Other gin and geneva  92.28 per litre  
22086000  Vodka  92.28 per litre  
22087000  Liqueurs and cordials  92.28 per litre  
Source:  Information provided by the authorities.  
3.1.3.4   Import surcharges  
3.22.   Trinidad and Tobago's system of import surcharges was introduced in 1990, under the 
Miscellaneous Taxes Act, to provide temporary protection for locally -produced goods during the 
transition period to complete tariffication of the trade regime; it remained in place after the process 
was completed. The rates are applied in addition to other  tariffs. While, at the time of its previous 
Review, Trinidad and Tobago indicated that it intended to abolish these surcharges in the near 
future29, it proceeded to apply new import surcharges on nine pou ltry tariff headings from 
March 2013; based on recent  import data, the main trading partners affected by these measures are 
Canada, the United Kingdom, and the United States. Trinidad and Tobago  also continues to apply 
import surcharges, in place during the previous review period, on: fatty livers of geese, ducks and 
guinea fowl; beet sugar; other cane sugar, flavoured or coloured; and icing sugar  (Table 3.5). 
Table 3.5 Import surcharges 2012 -18 
(%) 
HS 
heading  Description of goods  MFN 2012  2013  2014  2015  2016  2017  2018  
0207.11.00  Gallus domesticus  - not cut 
in pieces, fresh or chilled  40 0 15a 15 15 15 15 15 
0207.12.00  Gallus domesticus  - not cut 
in pieces, frozen  40 0 15a 15 15 15 15 15 
0207.13.00  Gallus domesticus  - cuts 
and offal, fresh or chilled  40 0 15a 15 15 15 15 15 
0207.14.00  Gallus domesticus  - cuts 
and offal, frozen  40 0 15a 15 15 15 15 15 
0207.14.10  Gallus domesticus  - backs 
and necks  40 0 15a 15 15 15 15 15 
                                                
29 WTO document WT/TPR/M/260/Add.1, 20 April 2012.  WT/TPR/S/388 • Trinidad and Tobago  
 
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  HS 
heading  Description of goods  MFN 2012  2013  2014  2015  2016  2017  2018  
0207.14.20  Gallus domesticus  - wings  40 0 15a 15 15 15 15 15 
0207.14.30  Gallus domesticus  - livers  40 0 15a 15 15 15 15 15 
0207.14.90  Gallus domesticus  - other  40 0 15a 15 15 15 15 15 
1602.32.00  Of poultry of heading 
01.05: of fowl of the 
species g allus domesticus  20 0 15 15 15 15 15 15 
0207.34.00b Fatty livers of geese or 
ducks  40 86 86 86 86 - - - 
0207.43.00b Of ducks – fatty livers, 
fresh or chilled  40 - - - - 86 86 86 
0207.53.00b Of geese – fatty livers, 
fresh or chilled  40 - - - - 86 86 86 
Ex. 
0207.60.00  Of guinea fowl – fatty 
livers, fresh or chilled  40 - - - - 86 86 86 
1701.12.00  Beet sugar  40 60 60 60 60 60 60 60 
1701.91.00  Other cane sugar: 
containing added flavouring 
or colouring matter  40 60 60 60 60 60 60 60 
1701.99.10  Icing sugar  25 75 60 60 60 60 60 60 
a Effective March 2013.  
b When Trinidad and Tobago began utilizing HS 2012, there was a subdivision of HS 0207.34 to 
provide separately for products of ducks, geese and guinea fowl which corresponded to HS 0207.43, 
0207.53 and 0207.60.  
Source:  Information provided by the authorities.  
3.1.3.5   CARICOM Common External Tari ff 
3.23.   As a member of CARICOM, Trinidad and Tobago applies the CARICOM CET. National 
exceptions are detailed in Lists A and C.  
3.24.   Trinidad and Tobago has submitted a list of 93 tariff lines for List A, comprising agricultural 
products, petroleum products, lavato ry sets, and household washing machines and dryers. All tariffs 
applied to items in List A are lower than or equal to the CET , and are subject to a maximum customs 
duty of 40%. Products included in this List are granted an indefinite suspension of the  CET. 
3.25.   List C contains items for which minimum rates have been agreed but can be increased up to 
WTO bound levels by Members . There are 209 seven -digit HS tariff lines in Trinidad and Tobago's 
List C (including automobiles, some electrical appliances, precious m etals, beer, wine and spirits). 
Amendments to tariff rates contained in List C may be done by interim order issued by the President 
under Section 7(1) of the Customs Act.  
3.1.3.6   Tariff exemptions and suspensions  
3.26.   Trinidad and Tobago provides both general and secto r-specific import incentives, as set out 
in the Fiscal Incentives Act, 1979; Section 56 of the Customs Act; the Free Zones Act, 1988 
(Section  3.2); and the Tourism Development Act, 2000 (Section  4.5.5).  
3.27.   Under the Fiscal Incentives Act, approved enterprises  may import plant, equipment, 
machinery, and raw materials and components free of customs duty, for specified end uses.30 
3.28.   Section 56(1) of  the Customs Act allows the House of Representatives, through resolution, to 
exempt from import duties goods contained in the List of Conditional Duty Exemptions , which is in 
the Third Schedule to the Customs Act.31 This flexibility was used several times over the review 
period, for various products ( Box 3.1 ). 
                                                
30 Fiscal Incentives Act, Article 20. Viewed at: http://rgd.legalaffairs.gov.tt/laws2/alphabetical_list/ 
lawspdfs/85.01.pdf . 
31 Customs Act (Chapter 78:01). Viewed at: 
https://www.ttbizlink.gov.tt/trade/tnt/cmn/pdf/Customs%20Act -78.01.pdf . WT/TPR/S/388 • Trinidad and Tobago  
 
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  Box 3.1 Products af fected by CET (Variation of Duty) Orders 2012 -18 
Audio compact discs; medicaments; soybean oil; angles of non -alloy steel; furniture incorporating 
refrigerating/freezing equipment; meat of bovine animals , salted or in brine; meat of swine , salted 
or in bri ne; cheddar cheese; green tea; black tea; sunflower or safflower oil and fractions; canned 
corn beef; herring; sardines; tuna; mackerel; apple juice for infants; active yeasts; preparations 
for infants; table salt; urea; garden hose s; food packaging materi al; protective clothing from 
synthetic fibres; waterproof boots; chicken wire; water storage tanks; wheelbarrows and their 
parts; fish nets; frozen French fries; ear plugs/ ear muffs; disposable respirators/ oil sorbents; 
safety goggles; breathing appliances  and gas masks; dried fish; virgin and refined olive oil; canola 
oil; vegetable fats and oils and fractions; pineapple juice for infants; milk and cream (powder, 
unsweetened, other); insect screen mesh; headgear with anti -mosquito veil s; motorized mosquito  
traps; ultra violet or infra -red ray apparatus; tubular and metal needles; catheters; cannulae and 
aspirators; CCTV systems; refined sugar; shade netting; dried, salted pollock fillets; compact 
fluorescent lamps; sulphonic acid and linear alkylbenzene; mo squito nets; metal insect mesh 
screen s; and chemical respirators . 
Source:  Information provided by the authorities.  
3.1.3.7   Tariff preferences  
3.29.   Imports from CARICOM member States enter Trinidad and Tobago duty free provided they 
meet the rules of origin criteria. Lists of national exemptions to the duty -free rule are contained in 
Schedule I of the CARICOM Treaty. Trinidad and Tobago may impose import duties or quantitative 
restrictions on fresh milk and cream, evaporated and condensed milk, tyre repair materials, a nd 
rubber tyres from other CARICOM member States.  
3.30.   Tariff preferences are also granted to Trinidad and Tobago's trading partners with which it 
has RTAs in force ( Section 2).  
3.1.3.8   Tariff quotas  
3.31.   Although they may be imposed temporarily by the Minister of Finance, during the review 
period, Trinidad and Tobago did not use tariff quotas.  
3.1.3.9   Online Purchase Tax (OPT)  
3.32.   In October 2016, Trinidad and Tobago introduced an Online Purchase Tax (OPT). The tax rate 
is 7% of the customs value (c.i.f.) and any other applicable taxes .32 It is applied to goods that meet 
all of the following criteria: (i) they have been purchased means of an electronic transaction; (ii)  they 
have been imported into Trinidad and Tobago by air transportation, and consigned to a consumer; 
and (iii) they ent ered from a transit shed. The tax is not applicable to commercial/business 
purchases.  It is intended to help manage the increase in foreign exchange outflows from online 
purchases, reduce revenue leakage, and assist local manufacturers and service companie s in 
competing with overseas retailers.  
3.1.3.10   Tobacco Tax  
3.33.   A Tobacco Tax continues to be levied on products of non -CARICOM market origin under the 
Miscellaneous Tax Act.33 The rates were last changed in 2016 (Table 3.6 ). 
                                                
32 MOF CED Notice to Importers No. 23 of 2016 (Amendment to the Miscellaneous Taxes Act, 
Chap.  77:01). Viewed at: www.customs.gov.tt . 
33 Miscellaneous Tax Act, Chapter 77:01 (Part V). Viewed at: 
https://rgd.legalaffairs.gov.tt/laws2/Alphabe tical_List/lawspdfs/77.01.pdf . WT/TPR/S/388 • Trinidad and Tobago  
 
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  Table 3.6 Tobacco Tax  
Tariff heading 
No. Description of goods  Rate of Tobacco Tax  
24.02  Cigars, cheroots, cigarillos and cigarettes, of 
tobacco or of tobacco substitutes   
2402.10.00  Cigars, cheroots and cigarillos, containing tobacco  TTD 30.16 per kg 
2402.20.00  Cigarettes containing tobacco  TTD 4.38 per pack of 20 , and pro 
rate if  not in packs 
2402.90.00  Other  TTD 4.38 per pack of 20 , and pro 
rata if  not in packs 
24.03  Other manufactured tobacco and manufactured 
tobacco substitutes; "homogenized"  or 
"reconstituted" tobacco; tobacco extracts and 
essences   
 - Smoking tobacco, whether or not containing 
tobacco substitutes in any proportion   
2403.11.00  --Water pipe tobacco specified in Subheading Note 
1 to Chapter 24 of the CET  TTD 57.25 per kg  
2403.19.00  --Other  TTD 57.25 per kg  
Source:  MOF Customs and Excise Division (CED), Notice to Importers No. 23 of 2016. Viewed at: 
www.customs.gov.tt . 
3.1.3.11   Environmental Tax on tyre imports  
3.34.   In December 2017, the Government  introduced an environmental tax on imports of used tyres 
into Trinidad and Tobago; the rate applied is TTD  20 per tyre. The purpose of this tax is to cover the 
proper disposal of used tyres.34 
3.1.3.12   VAT and excise taxes  
3.35.   Details on these taxes are contained in Se ction 3.3.1.1.  
3.1.4   Import prohibitions, restrictions and licensing  
3.36.   Under the Customs Act, the President may impose import prohibitions by executive order. 
Section 45 of the Act lists specific import prohibitions and restrictions; these have remained 
unchanged since the previous review ( Box 3.2).35 As indicated by the authorities then, the reasons 
for these prohibitions include moral issues, security, prevention of diseases, and curbing 
smuggling.36 Additionally, imports of certain fish have been prohibited in accordance with 
international fisheries management regulations (Section 4.2.3).  
3.37.   Additionally, imports of methyl bromide are prohibited since the  completion of a full phase -out 
in 2015.37 
                                                
34 Finance Bill, 2017. Viewed at: http://www.ttparliament.org/legislations/b2017h24 -1rS.pdf . The tax 
applies to the following HS tariff lines (4012.20.0 0 – used pneumatic tyres; 4012.20.10 – used pneumatic 
tyres for retreading and remoulding; and 4012.20.90 – other used pneumatic tyres).  
35 The Customs Act (Section 45). Viewed at: 
https://www.ttbizlink.gov.tt/trade/tnt/cmn/pdf/Customs%20Act -78.01.pdf . 
36 WTO document WT/TPR/S/260/Rev.1, 2 May 2012.  
37 WTO document WT/LIC/N/3/TTO/10, 14 September 2012.  WT/TPR/S/388 • Trinidad and Tobago  
 
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  Box 3.2 Import prohibitio ns and restrictions, 2018  
Trade -marked goods, unless accompanied by a definite indication of the country in which the 
goods were made or produced; goods prohibited under the Animal Diseases and Importation Act; 
counterfeit coins and stamps; arms and ammuni tion; toy guns resembling firearms; indecent or 
obscene articles or matter; coin -operated mechanical games; camouflage material; rat poison 
containing arsenic; saccharin, except to licensed pharmacists and members of the Medical Board; 
brandy and rum not m eeting alcoholic volume or packaging specifications (brandy must contain 
at least 40% alcohol by volume unless the importer can prove to Customs that the brandy is of 
at least 10 years maturity and is in securely sealed bottles, while rum must be imported in casks 
of 67.5 litres or in properly packed cases of stone or glass bottles of 4.5  litres each); spirits and 
wines in general not meeting packaging specifications; extracts, essences and other 
concentrations of tobacco, except under certain conditions; t obacco products in general, not 
meeting certain packaging conditions; unrefined sugar not manufactured in Trinidad and Tobago, 
except with permissi on from the President; and left -hand-drive vehicles, except those destined 
for specific uses.  
Source:  Custom s Act (Section 45). Viewed at: http://www.customs.gov.tt/content/Customs%20Act.pdf . 
3.38.   Trinidad and Tobago's import licensing regime is  largely  regulated by the Imports and Exports 
Control Re gulations 1941 (scheduled as part of the Trade Ordinance No. 19 of 1958). The licensing 
system is a statutory requirement as published in Legal Notice No. 69 of 1999. This was last updated 
by Legal Notice 290 of 2014,  which amends the Import Negative List to include ozone -depleting 
substances (ODS) and mixtures containing ODS excluding asthma inhalers.38 Table 3.7  reflects 
import licensing requirements up to 2014 . Legal Notice No. 290 of 2014 can be found online .39 
No fees are levied for these licences. Impor t licensing requirements for fish and fish products are 
detailed in Section 4.2.3.  
Table 3.7 Import licensing requirements, 201 4 
HS headinga Licence 
type Description of goods  Reason for licence  
  Livestock   
0105 A Live poultry  Sanitary  
  Fish, crustaceans, molluscs   
0301, 0302, 
0303 A Fish, fresh (live or dead), chilled or frozen  Sanitary  
0306.13, 
0306.23  A Shrimp (prawns), fresh (live or dead), chilled or frozen  Sanitary  
0306.12, 
0306.22  A Lobster, fresh  (live or dead), chilled or frozen  Sanitary  
0306.14, 
0306.24  A Crabmeat, fresh, chilled or frozen  Sanitary  
  Oils and fats   
0801 A/NAb Coconut in all forms, except coconut oil  Trade agreements  
ex 1522.00  A/NAb Oilseed cake, meal and other vegetable oil  residues  Trade agreements  
1513.10  A/NAb Copra  Trade agreements  
1507, 1508  A/NAb Oilseeds, beans, nuts, etc.  Trade agreements  
ex 1501 -1506 A/NAb Animal oils, fats and greases, unrefined  Trade agreements  
ex 1522.00  A/NAb Fatty acids and solid residues from the treatment of oils 
and fats  Trade agreements  
1507-1514 A/NAb Vegetable fats  Trade agreements  
  Motor vehicles   
ex 8702, ex 
8703 NA Left-hand-drive vehicles imported under Section 
45(2)(4) of the Customs Act, Chapter 78:01, as 
amended  Public safety  
ex 8702, ex 
8703 NA Used right -hand-drive vehicles  Public safety  
ex 8705  NA Used right -hand-drive garbage compactors exceeding 
15 tonnes  Public safety  
  Paper and paper production   
4813 NA Paper for wrapping tobacco or cigarettes  National security  
                                                
38 Replies to questionnaire on import licensing procedures. WTO document G /LIC/N/3/TTO/11, 
20 January 2014.  
39 Legal Notice 290 of 2014. Viewed at: 
http://www.ttlawcourts.org/index.php/component/attachments/download/3644 . WT/TPR/S/388 • Trinidad and Tobago  
 
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  HS headinga Licence 
type Description of goods  Reason for licence  
  Miscellaneous manufactured products   
8900 NA Ships and boats (under 250 tonnes)  National security  
  Pesticides   
ex 2903.10  NA Parathion, ethyl  Health, environment  
ex 2907  NA 2,4,5 -trichlorphenyl (s,4,5 -T); dichlorodiphenyl -
trichloroethane (DDT); chlordimeform  Health, environment  
ex 2903.40  NA Dibromocholoropropane (DBCP); ethylene dibromide 
(EDB)  Health, environment  
ex 2907.20  NA Pentachlorophenol (PCP)  Health, environment  
ex 29  NA Lead arsenate  Health, environment  
ex 29  NA Thallium and  its salts  Health, environment  
ex 29  NA Aldrin, dieldrin and endrin  Health, environment  
  Equipment requiring the use of ozone -depleting 
substances   
8408, ex 
8409, 8414.30  NA Compressors and their parts  Montreal Protocol  
ex 8418  NA Used refrigerating equipment  Montreal Protocol  
ex 84  NA Dehumidifiers  Montreal Protocol  
8415 NA Air-conditioning machines and parts, auto air -
conditioning units and their parts for new or used 
vehicles, mounted or not  Montreal Protocol  
8418 NA Refrigerators, freezers and other refrigerating/freezing 
equipment  Montreal Protocol  
8403 NA Heat pumps and their parts for domestic and 
commercial use  Montreal Protocol  
ex 84  NA Portable fire extinguishers and their parts  Montreal Protocol  
2903.19, 
2903.20 -23, 
2903.40, 45, 
47 and  49 NA Mixtures containing ODSs  Montreal Protocol  
a In some cases, only part of a heading is covered by the licensing requirement.  
b Automatic licensing for CARICOM -origin products; non -automatic licensing for products from other 
sources.  
Note:  A: automatic; NA: non -automatic.  
Source:  WTO documents WT/TPR/S/260/Rev.1, 2 May 2012; and G/LIC/N/3/TTO/11, 20 January 2014.  
3.39.   All persons, firms and institutions are eligible to apply for a licence. Licences must be applied 
for on -line through TTBizLink ( Section 3.1.1) in advance of importation, and must have been picked 
up by the importer before the goods arrive in Trinidad and Tobago.  
3.40.   Both automatic and non -automatic licences are granted on an MFN basis, except for oils and 
fats. Automatic licensing is u sed for statistical purposes, while non -automatic licensing is used to 
administer import restrictions in place due to bilateral/regional trade agreements, or for 
environmental, national security, or health and safety reasons, and to comply with commitments  
under the Montreal Protocol on Substances that Deplete the Ozone Layer.  
3.41.   A phase -out of hydrochloroflurocarbons (HCFCs) commenced in 2013, and is being 
implemented through an import -quota and licensing system.40 
3.42.   Import licences continue to be required for u sed motor vehicles (for personal use). Conditions 
include that they must: be right -hand-drive vehicles; be less than four years old; have a petrol 
engine; and have ozone -friendly refrigerants in the air -conditioning system. For used vehicles for 
commercial  purposes, a licence is issued after the need for such a vehicle has been verified.41 
                                                
40 WTO document G/LI C/N/3/TTO/11, 20 January 2014.  
41 WTO document WT/TPR/S/260/Rev.1, 2 May 2012.  WT/TPR/S/388 • Trinidad and Tobago  
 
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  3.1.5   Anti-dumping, countervailing and safeguard measures  
3.1.5.1   Anti-dumping and countervailing duties  
3.43.   During the period under review, no changes were made to the anti -dumping and 
countervailing duty legislation, which is the Anti -dumping and Countervailing Duties Act, 1992 (last 
amended in 1995) and the Anti -dumping and Countervailing Duties Regulations,1996.42 The Act is 
administered by the Fair Trading Unit of the MTI. The authori ties indicated that the legislative and 
regulatory framework for anti -dumping and countervailing actions is being reviewed by the MTI. 
While areas for legal reform have been identified (i.e. newcomer review, sunset and circumvention 
provisions), there is n o timeframe for legislative amendments.  
3.44.   As reported in the previous Review, anti -dumping (AD) and countervailing (CV) investigations 
are conducted by the Anti -dumping Authority; they may be initiated on the Authority's own initiative, 
under  the direction o f the Minister of Trade and Industry, or in response to a complaint by a local 
producer/manufacturer. Procedures for undertaking investigations and imposing measures remain 
unchanged , and are described in the previous Review.43 
3.45.   On 8 August 2014 , the Anti-dumping Authority initiated an investigation into the alleged 
dumping of aluminium extrusions originating from China  (alumin ium bars, rods and profiles 
(HS codes 7604.10.00; 7604.21.00 and 7604.29.00) and alumin ium tubes and pipes (7608.10.00 
and 7608.20.00) ).44 A final determination (and an Order imposing dut ies) was made in 
February  2016. The Order has been  in effect since 21 February 2016 and ceases on 
20 February  2021. Final duties on exporters of aluminium bars, rods and profiles (7604.21.00 and 
7604.29.00) were set at 6%, and on exporters of aluminium pipes and tubes (7608.10.00) at 9%.45 
Certain companies investigated were exempt from these measures.46 No other AD investigations 
were initiated over the review period, and no AD measures were being applied to any other products.  
3.46.   Trinidad and Tobago did not conduct any CV duty investigations during the period under 
review. No CV duty measures are in force.  
3.1.5.2   Safeguards  
3.47.   Trinidad and Tobago has no specific legislation dealing with safeguard measures, as n otified 
to the WTO.47 It has not reserved the right to use the special safeguard provisions of the 
WTO Agreement on Agriculture on any agricultural product.  The authorities state that the MTI is 
reviewing its safeguards policy.  
3.48.   As reported in the previous Review, the application of safeguards within CARICOM countries 
is governed by Article 150 of the Revised Treaty of Chaguramas. This allows a CARICOM member to 
introduce quantitative or other authorized measures to safeguard its balance of payments, and to 
help a sector undergoing serious difficulties due to increased imports from other CARICOM 
members.48 Trinidad and Tobago has not introduced any such safeguard measures over the review 
period.  
                                                
42 Anti-dumping and Countervailing Duties Act (Chap. 78.05). Viewed at: 
https://www.ttbizlink.gov.tt/tntcmn/faces/pnu/TariffLegislationDownloads.jsf . 
43 WTO document WT/TPR/S/260/Rev.1, 2 May 2012.  
44 Legal Notice No. 262 dated 22 August, 2014 . 
45 The Anti -dumping and Countervailing Duties (Anti -dumping Duty) Order. Viewed at: 
http://www.ttlawcourts.org/index.php/component/attachments/download/4422 . 
46 For the following companies, AD duties were 0%: Guangdong Grand Shine Construction Material C o. 
Ltd; Guangdong Xinfeng Aluminium Factory Co. Limited ; and Guangdong Xinhe Aluminium Co. Limited . 
47 WTO document G/SG/N/1/TTO/1, 4 October 1995.  
48 Clarifications on the procedural aspects of invoking safeguard measures were provided in Trinidad and 
Tobago's responses to written questions at the time of its previous Review. WTO document 
WT/TPR/M/260/Add.1, 20 April 2012.  WT/TPR/S/388 • Trinidad and Tobago  
 
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  3.2  Measures Directly Affecting Exports  
3.2.1   Customs procedures and requir ements  
3.49.   Customs requirements regarding exports from Trinidad and Tobago have not changed since 
the last Review. Exporters must complete a customs declaration form (e -C82); this must be done 
by a customs broker. User fees are the same as for import documenta tion (TTD  40 for commercial 
and TTD  10 for non -commercial declarations). Additionally, exporters must submit: an invoice 
showing the price paid locally; an export licence if required ( Table 3.8); a certificate of origin for 
goods claiming preferential trea tment under an FTA; and a bill of lading or airway bill. These 
documents must be submitted electronically through the CBCS/ASYCUDA  system . As in the case of 
imports, this s ystem connects to the TTBizLink platform, so that exporters may apply for licences 
and certificates of origin electronically from the requisite agencies. The National Export Facilitation 
Organization of Trinidad and Tobago (ExporTT) issues certificates of origin (COOs) for exports to 
FTA partners (including CARICOM); the standard fee is T TD 100 per certificate. The Trinidad and 
Tobago Chamber of Industry and Commerce (TTCIC) issues COOs for exports if required by non -
FTA partners; the fees are TTD  100 per certificate for non -members and TTD  75 per certificate for 
members . Currently, export ers must pick up their COOs from ExporTT or the TTCIC; however, future 
software upgrades will allow exporters to print them out themselves. The approved shipping 
documents are taken to the customs shipping officer at the port of loading, who clears the shi pment 
for export.49 COOs for cocoa exports are obtained from the Cocoa Development Company of Trinidad 
and Tobago (Section  4.1.3.1).  
3.50.   According to the World Bank's  2019 Doing Business report , the time to export was 32 hours 
for documentary compliance and 60 hours for border compliance, considerably less than the 14 days 
reported at the time of the previous Review. The cost to export was estimated at USD  749 (USD  250 
for documentary compliance and USD  499 for border compliance)50; again, this is lower than the 
estimated cost, of USD  843, reported in 2011.  
3.2.2   Taxes, charges, and levies  
3.51.   Trinidad and Tobago does not levy export taxes on goods.  
3.2.3   Export prohibitions, restrictions, and licensing  
3.52.   Under the Customs Act (Section 44), the President may prohibit the export of any goods 
through the issuance of an order. The following goods have been prohibited: (a) arms, ammunition 
and military and naval stores, except with the written permission of the Commissioner of Police; and 
(b) rum, other spirits, wines, tobacco, cigars, cigarillos and cigarettes, unless they meet the same 
conditions that are applied to imports  of these items  (Box 3.2).  Export prohibitions also apply to 
certain fish and forestry products (Section 4.1.3.2 and Section 4.2.3).  
3.53.   Exports requiring a licence rema in largely the same as at the time of the previous Review; 
the only changes have been to add waste and scrap of lead -acid batteries to the list in  2012, and 
various ODSs in 2014  (Table 3.8). Export licences may be obtained online through the TTBizLink 
online platform. Export licensing requirements on live fish, including export quotas, are detailed in 
Section 4.2.3.  
                                                
49 WTO document WT/TPR/S/260/R ev.1, 2 May 2012.  
50 World Bank Doing Business in 2019, Training for Reform. Viewed at: 
http://www.worldbank.org/content/dam/doingB usiness/media/Annual -Reports/English/DB2019 -report_web -
version.pdf . WT/TPR/S/388 • Trinidad and Tobago  
 
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  Table 3.8 Exports requiring a licence, 2018  
Description of goods  Reason for licence  
Coral and other aquatic life found in the county's marine environment , 
including turtle s, turtle eggs, aquarium fish, fish, molluscs, lobster, shrimp, 
crabs and othe r aquatic invertebrates  Protection of local heritage  
Works of art, artefacts, and archaeological fin dings  Protection of local heritage  
Clays, crushed limestone, boulders, sand, gravel, plastering sand, 
porcellanite, argillite, oil sand  Protection of local heritage  
All plant species , including tissue culture and other propagation material 
there of, that are listed in the Convention on International Trade in 
Endangered Species of Wild Flora and Fauna (CITES)  Protection of local heritage  
Embryos and ar tificial insemination material  Protection of local heritage  
All animal species listed in the CITES,  as well as all endangered species of 
Trinidad and Tobago, whether live specimens, their parts, or derivatives, 
whether  mammal, bird, reptile, amphibia n, fish or invertebrate  Protection of local heritage  
Non-ferrous metal scrap and ores  Miscellaneous  
Waste and scrap of lead -acid batteries, whether whole or crushed , used lead -
acid batteries  Miscellaneous  
Human organs  Public health  
Various ODSs  Public health  
Explosives, firearms, ammunition and ordnance  National security and 
foreign policy  
All goods consigned to a country in which trade restrictions have been 
imposed as a matter of national policy  National security and 
foreign policy  
Items which are subsidi zed, either directly or indirectly – rice, gasoline, 
kerosene, liquid petroleum gasa Subsidized  item 
Re-export of electro -medical , medical or medical electronic equipment  Subsidized item  
Re-export of duty -free capital goods , e.g. mining, construction and other 
industrial machinery  Subsidized item  
Agricultural machinery , including imported fishing boats and their engines 
approved by the Ministry of Agriculture, Land and Fisheries  to be used in the 
fishing ind ustry Subsidized item  
a As noted in the previous Review, in practice, these items do not require a licence since t hey are no 
longer subsidized.  
Source:  Legal Notice No. 123 of 1998; Legal Notice No. 16 of 2012; Legal Notice No. 291 of 2014; and Legal 
Notice No. 130 of 2014.  
3.2.4   Export support  
3.2.4.1   Duty drawback  
3.54.   Duty drawback is available for certain imported inputs; it must be  claimed within one year of 
export . Exporters are also eligible for a rebate, amounting to 1.5% of the value of export sales, 
which is valid for the reduction of duty payable on future imports.  
3.2.4.2   Free-trade zones (FTZs)  
3.55.   The Free Zones Act Chap. 81:07 (last a mended in 2010) governs FTZs in Trinidad and Tobago, 
and their activities and benefits (Box 3.3).51 In total, there are 16 enterprises operating within FTZs, 
with total employment of around 1,500 workers.  
3.56.   The Minister of Trade and Industry is responsible fo r designating free zones based on 
recommendations made by the Trinidad and Tobago Free Zones Company Ltd (TTFZ). The TTFZ 
regulates enterprises operating in FTZs. The goal of the FTZ regime when it was established was to 
attract export -orientated (non -energy) activities, which would not otherwise come to the country.52 
As noted in the previous Review, the basic approval criteria for such enterprises are: the creation of 
jobs, access to overseas markets, new investment, and the development of skills.53 Free-zone 
                                                
51 Free Zones Act. Viewed at: http://www.customs.gov.tt/customs -laws. 
52 MTI SEZ Policy. Viewed at www. tradeind.gov.tt/wp -content/uploads/2017/08/National_SEZ_Policy_ 
TT.pdf . 
53 WTO document WT/TPR/S/260/Rev.1, 2 May 2012.  WT/TPR/S/388 • Trinidad and Tobago  
 
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  projects may be completely locally -owned, 100% foreign -owned, or take the form of joint ventures 
with local investors.  
Box 3.3 FTZ operations, 2018  
Number of FTZ  
companies : 16 enterprises (1 of which is an FTZ operator).  
Total employment:  Around  1,500 workers.  
Permitted activities:  Warehousing and storage; manufacturing operations; transhipment operations; 
loading and unloading; export and import; service operations including banking, 
insurance and profess ional services; packaging and shipping; assembling; 
processing, refining, purifying and mixing; and merchandising , including 
international trading of products . 
Restricted activities:  Primary petroleum and natural gas projects. Free -zone enterprises may on ly sell 
up to 20% of goods in the customs territory of Trinidad and Tobago,  and may not 
carry out other activities in the customs territory.  
Benefits:  Tax exemptions granted indefinitely (on import duties, land and building taxes, 
business levy, corporati on tax, income tax, withholding tax, VAT, work permit 
fees, and green levy fund). Import and export licensing requirements are waived.  
Source:  WTO document WT/TPR/S/260/Rev.1, 2 May 2012 ; MTI  Special Economic Zones Policy. Viewed at: 
https://tradeind.gov.tt/category/policies ; and information provided by the authorities.  
3.57.   The MTI has released a Special Economic Zones (SEZ) Policy, which delineates various 
concerns about the existing FTZ regime, includ ing that: it is small; it lacks diversity; it has performed 
poorly; the policy framework is ineffective; the legal, regulatory and institutional frameworks are 
weak; and the incentives offered are very generous, are not time -bound, and are limited only to 
financial incentives which significantly undermine the country's revenue base. The Policy provides 
recommendations for developing a new and modern SEZ Regime, with a view to: expanding the 
country's revenue base; increasing and diversifying exports and inv estment; increasing and 
enhancing private -sector participation in the economy, inter alia , through SEZ development and 
operations; integrating SEZ enterprises with national developmental objectives to facilitate economic 
development across the country; and  increasing compliance of SEZ operations with local, regional 
and international standards and laws. A new SEZ Act, which would replace the FTZ Act, is being 
drafted.  
3.2.5   Export finance, insurance, and guarantees  
3.58.   The Government is the sole provider of export credit insurance through the state -owned 
Export Import Bank of Trinidad and Tobago Limited (EXIMBANK). EXIMBANK also functions as a 
confirming and acceptance house and a finance company,  and is permitted to engage in financial 
services such as raw material  financing and factoring and discounting (Table 3.9). Its main clients 
are small and medium -sized enterprises (SMEs) in the manufacturing sector.  According to the 
authorities, loan interest rates are influenced by the client's risk profile, range from 8% t o 11%, and 
remain competitive when compared to the prevailing market rate of high -risk portfolios. In 2018, 
EXIMBANK launched the Forex Facility to assist local manufacturers through foreign exchange 
allocations (Section s 3.3.1.2 and  4.4). EXIMBANK operate d at a profit for all of the review period 
until 2017, when it made a loss. It was also projected to make a loss in 2018, due to increased 
provisioning, the implementation of new international accounting standards, and debt portfolio 
restructuring.  
Table 3.9 Services provided by EXIMBANK, 2018  
Service  Description  
Export credit 
insurance  Insurance policies cover (a) commercial risks, including insolvency of the overseas buyer, 
and deliberate default by the ove rseas buyer on goods already accepted; and (b)  political 
risks, including any risk occurring outside Trinidad and Tobago beyond the control of the 
exporter, including import controls in the importing country. Premium terms vary depending 
on the buyer, the payment terms, and the economic and political environment, and currently 
ranges between 1.6% and 3.5%. Coverage is 90% of t he invoice value in both cases.  
Raw material 
financing  Short -term loans /direct financing to assist companies in paying their inventory costs (raw 
material s, semi -finished or finished goods). E XIMBANK  pays the supplier 100% of the invoice 
value of the goods. The company then repays EXIMBANK 100% of the  invoice plus interest.  WT/TPR/S/388 • Trinidad and Tobago  
 
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  Service  Description  
Factoring and 
discounting  Short -term financing to exporting manufacturers, distributors and service providers to bridge 
the gap between the settlement of production costs and the receipt of export sales 
payments . It takes the form of a short -term loan of between 85% and 95% of the invoice 
value of the export sales, which must be repaid from the assigned proceeds of the payments 
from EXIMBANK -approved buyers. The credit period generally ranges between 30 and 120 
days.  
Asset 
financing  Financing to manufacturers seeking to upgrade equipment to improve th e quality of their 
export products , or for renovation of their premises. The  duration of the credit facility  usually 
ranges from one to five years.  
Source:  EXIMBANK online information. Viewed at: http://www.eximbanktt.com/Products.html#Forex . 
3.2.6   Export promotion  
3.59.   ExporTT, which falls under the responsibility of the MTI, provides various services to exporters 
in the non -energy sector. It was established in 2013 as an export facilitation agency, replacing the 
Business Development Company (BDC), a business support agency. It has an Export Promotion Unit, 
whose activities include the organization of market survey missions and sector -specific trade 
missions. Through its Programme Financing Unit, it c o-finances costs of certain export -related 
activities companies can incur when penetrating new, or expanding existing, markets; these include: 
trade show attendance and booth rental; shipping of samples; product testing; company and brand 
registration in o verseas markets; international capacity -building workshop attendance; and 
translation fees. Other units provide market intelligence support; trade certifications (COOs); and 
training.54 
3.60.   The National Agricultural Marketing and Development Corporation (NAMDEV CO) continues to 
help exporters of agricultural products to identify new market opportunities for agricultural and agri -
industrial products.  
3.3  Measures Affecting Production and Trade  
3.3.1   Incentives  
3.3.1.1   Taxation  
3.61.   Total tax revenue reached its peak in 2014, then declined to TTD  26.6 billion in 201 7 
(Table  3.10); the latter was equivalent to about 17 % of GDP . The decline was mainly driven by a 
fall in corporate income tax (from TTD  27 billion in 2014 to TTD  8 billion in 2017) (Table 3.10; these 
figures were used as  the basis for Chart 3.2).  The authorities indicate that this is a result of low 
energy prices and the consequent decline in revenues from the supplemental petroleum tax (SPT), 
which is collected when the crude oil price exceeds USD  50 per barrel  (Section 4.3.1.1, Box 4.1) . 
Reduced production of energy products and accelerated tax write -offs for capital expenditure by 
energy companies also contributed to the reduced energy revenue. In 2017, about 60% of Trinidad 
and Tobago's tax revenue came from direct tax es, down from 76% in 2012. Customs and import 
duties accounted for 10% of the total tax revenue in 2017, up from about 5% in 2012.  
Table 3.10 Tax structure, 2012 -17 
(TTD million)   
2012  2013  2014  2015  2016  2017  
Total tax revenue  45,516  47,254  50,541  45,913  33,363  26,559  
Taxes on income, profits and capital 
gains  31,499  31,976  35,131  29,028  16,391  16,035  
 - from individuals  5,649  6,458  6,859  7,752  7,596  6,303  
 - from corporations  24,767  24,633  27,330  20,209  7,809  7,985  
 - unallocable  1,084  885 942 1,067  986 .. 
Social security contributions (SSC s) 3,086  3,514  4,137  4,261  4,252  .. 
Taxes on property  472 635 742 303 541 .. 
Taxes on goods and services  10,245  10,883  10,246  11,918  11,843  6,613  
 Taxes on production, sale, transfer, etc . 9,663  10,273  9,614  11,271  11,163  .. 
                                                
54 ExporTT online information. Viewed at: https://exportt.co.tt/departments . WT/TPR/S/388 • Trinidad and Tobago  
 
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2012  2013  2014  2015  2016  2017  
 - VAT 6,337  6,657  5,745  7,223  7,016  5,050  
 Taxes on specific goods and services  3,326  3,616  3,869  4,048  4,147  .. 
 - Excises  729 707 680 703 755 715 
 Rum and spirits  173 153 157 154 159 .. 
 Alcohol and tobacco taxes  3 3 4 8 20 24 
 Beer duty  209 196 172 189 182 202 
 Oil (petrol)  99 103 94 88 144 102 
 Cigarettes  241 236 231 235 219 229 
 Malt beverages  3 17 23 29 30 33 
Customs and import duties  2,319  2,588  2,861  3,014  3,003  2,684  
Taxes on specific services  278 322 328 330 388 .. 
 - Insurance premium tax  174 194 197 191 182 .. 
 - Transaction tax on financial services  57 64 75 75 85 .. 
 - Hotel room tax  46 50 56 64 54 .. 
 - Betting and entertainment taxes  0 13 0 0 67 .. 
Taxes on  use of goods and perform ance 
activities  582 610 632 647 681 .. 
Other taxes  214 246 285 403 336 .. 
.. Not available.  
Source:  OECD statistics.  Viewed at: https://stats.oecd.org/Index.aspx?DataSetCode=REVTTO ; and 
information provided by the authorities.  
Chart 3.2 Tax structure, 2012 -17 
(%) 
 
Source:  WTO Secretariat, based on OECD statistics.  
3.62.   VAT is applied  on both imported products and domestically produced ones; the rate was 
lowered from 15% to 12.5% in 2016. The authorities indicated that VAT does not apply to exports. 
Some products and services are zero -rated, while others are exempt from VAT. In 2016, th e VAT 
Act (Amendment to Schedule 2) Order listed 43 products and services that are subject to zero -rated 
VAT. They include agricultural products; natural gas; crude oil; iron ore; steel band instruments; 
salted fish; solar water heaters; photovoltaic cells ; wind turbines; equipment used in the energy 
sector; services, such as the repair of aeroplanes or ships used in international commercial services; 
01020304050607080
2012 2013 2014 2015 2016 2017
Taxes on income, profits and capital gains Taxes on goods and services
Social security contributions (SSC) Taxes on property
Other taxesChart 3.1   Tax structure, 2012 -17
Source: WTO Secretariat, based on OECD statistics.(%)WT/TPR/S/388 • Trinidad and Tobago  
 
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  international freight and ancillary services; domestic travel; and prescribed services supplied by an 
appro ved enterprise under the Free Zones Act.55 
3.63.   Schedule 1 of the VAT Act lists services that are exempt from VAT, such as: educational, 
medical, private transport, real estate, rental of residential property, hotel accommodation for more 
than 30 days, public po stal services, betting, gambling and lotteries, most financial services, and 
services supplied by a person not resident in Trinidad and Tobago to an approved enterprise under 
the Free Zones Act.56 
3.64.   Excise duties are applied to a number of domestically produc ed goods (Table 3.11).57 In 
addition, the authorities indicate that edible oil (including deodorized edible oil) is subject to excise 
duty of TTD  0.15 per litre. As at the time of the previous Review, the rate applied to rum, liqueurs 
and cordials was less than half of that applied to some other distilled beverages (Section 4.1).  
Table 3.11 Excise duties, 2018  
HS number  Description  Excise duty  Applied MFN 
tariff  
2202902 0 Malt beverage s TTD 0.26/l  20% 
2203001 0 Beer TTD 5.14/l  TTD 5.20/l  
2203002 0 Stout  TTD 5.14/l  TTD 6.50/l  
2203009 0 Other  TTD 5.14/l  TTD 6.50/l  
22041000  Sparkling wine  TTD 35.2/l  TTD 52.00/l  
22042100  Other wine; grape must with 
fermentation prevented or arrested by 
the addition of alcohol; i n containers 
holding 2 litres or less  TTD 16.43/l  TTD 58.31/l  
2207 Spirits for use in the manufacture of 
flavouring essences, extracts and 
concentrate  TTD 1.23/l  TTD 2.91/l, 
TTD 31.42/l.  
 
2207 Spirits for use in the manufacture of 
cigarettes  TTD 0.05/l   
22082010  Brandy, in bottles , of a strength not 
exceeding 46% vol ume TTD 168.10 /l alc./vol . TTD 45.50/l  
22082090  Other  TTD 168.10/l alc./vol.  TTD 45.50/l  
22083000  Whiskies:    
22083010  In bottles , of a strength not exceeding 
46% vol ume TTD 168.10/l  alc./vol.  TTD 45.50/l  
2208309 0 Other TTD 168.10/l  alc./vol.  TTD 45.50/l  
22084000  Rum and other spirits obtained by 
distilling fermented sugar cane products    
22084010  In bottles , of a strength not exceeding 
46% vol ume TTD 79.25/l  alc./vol.  TTD 45.50/l  
2208409 0 Other  TTD 79.25/l  alc./vol.  TTD 45.50/l  
22085000  Gin and geneva:    
2208501 0 In bottles , of a strength not exceeding 
46% vol ume TTD 168.10 /l. 
alc./vol.  TTD 45.50/l  
2208509 0 Other  TTD 168.10/l  alc./vol.  TTD 45.50/l  
22086000  Vodka  TTD 168.10 /l alc./vol . TTD 92.28/l  
22087000  Liqueurs and c ordials  TTD 79.25 /l alc./vol.  TTD 52.00/l  
22089000  Other  TTD 168.10/l  alc./vol.  TTD 37.70/l  
24021000  Cigars, cheroots, and cigarillos, 
containing tobacco  TTD 30.16 /kg 65.7%  
24022000  Cigarettes containing tobacco  TTD 4.38  per pack of 
20 and so in 
proportion when not 
so packed  30% 
24031000  Smoking tobacco, whe ther or not 
containing tobacco substitutes in any 
proportion    
24031100  Water pipe tobacco specified in 
Subheading Note 1 to Chapter 24  TTD 57.25/kg  65.7%  
24031900  Other  TTD 57.25/kg  65.7%  
                                                
55 The VAT (Amendment to Schedule 2) Order, 2016.  
56 VAT Act. Viewed at: http://rgd.legalaffairs.gov.tt/Laws2/ Alphabetical_List/lawspdfs/75.06.pdf . 
57 Excise (General Provisions) Act. Viewed at: 
http://rgd.legalaffairs.gov.tt/laws2/alphabetical_list/lawspdfs/78.50.pdf . WT/TPR/S/388 • Trinidad and Tobago  
 
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  HS number  Description  Excise duty  Applied MFN 
tariff  
ex27101220 Premium gasoline (leaded)  TTD 0.99696/l  30% 
ex27101220 Regular gasoline (leaded)  TTD 0.99696/l  30% 
ex27101220  Unleaded premium gasoline 95 Ron  TTD 0.1/l 30% 
ex27101220  Unleaded super gasoline 92 Ron  TTD 0.1/l  
ex27101220  Unleaded regular gasoline 83 Ron  TTD 0.1/l  
2710191 2 Domestic kerosene  TTD 0.05/l  0% 
ex271019 30 Diesel oil - auto TTD 0.05/l  30% 
ex27101940  Gas oils (marine diesel)  TTD 0.07/l   
ex27101950  Bunker C fuel oil (marine diesel)  TTD 0.07/l   
27101973  Lubricating oils  TTD 0.2/imperial 
gallon  30% 
 Edible oils  TTD 0.15/l  .. 
 Deodorized edible oils  TTD 0.15/l  .. 
.. Not available.  
Source:  Excise (General Provisions) Act. Viewed at: 
http://rgd.legalaffairs.gov.tt/laws2/alphabetical_list/lawspdfs/78.50.pdf . 
3.65.   New developments since 2012 in the area of taxation include:  
a. the reduction of VAT from 15% to  12.5% in 2016;  
b. the introduction of a 7% Online Purchase Tax in 2016  (Section 3.1.3.9) ; 
c. the establishment of a uniform royalty rate of 12.5%, applicable to oil, gas and 
condensates  (Section 4.3) ;  
d. the standardization of corporate tax to 30% for all compani es (apart from commercial 
banks, which are subject to a corporate tax rate of 35%) in 201858; 
e. the application of new  import  surcharges to nine poultry tariff headings in 2013  
(Section  3.1.3.4) ; and  
f. the introduction of an environmental tax on imports of used  tyres in December 2017 
(Section 3.1 .3.11 ). 
3.66.   In the budget statement for 2018, the Minister of Finance state d that the Government 
recognizes the "urgent need to identify new revenue streams"59; the Government has introduced a 
number of fiscal reforms since t hen, with a view to ensur ing fiscal sustainability . The  energy tax  
reform programme propose s to make the  supplemental petroleum tax  (SPT) (Section 4.3.1.1)  
responsive not to price, but to underlying profitability, and to extend this Tax to gas. However, the 
reform has not yet been implemented. Another example is the property tax, which was waived from 
2010-18; it is in the process of being rolled out in 2019.  
3.3.1.2   Incentives  
3.67.   Trinidad and Tobago maintains a myriad of incentives, such as tax and duty deductions and 
exemptions, allowances, and production expenditure rebates.60 Incentives are provided to various 
sectors, such as manufacturing, creative industries, sporting industries, tourism, agriculture, 
maritime transport, and energy (Table 3.12).  
                                                
58 Before 2018, companies with chargeable profits more than TTD 1 million annually paid a corporate 
tax at a rate of 30%, while other companies paid at a rate of 25%.  
59 Government of Trinidad and Tobago, 2018 Budget Statement. Viewed at: 
http://www.news.gov.tt/sites/default/files/BUDGET -STATEMENT -2018.pdf . 
60 Ministry of Finance, Major Investment Incentives in Trinidad and Tobago. Viewed at: 
http://www.finance.gov.tt/wp -content/uploads/2017/08/MOF -Investment -Incentives -in-Trinidad -and-Tobago -
web.pdf . WT/TPR/S/388 • Trinidad and Tobago  
 
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  Table 3.12 Incentives, 2018  
Sector , and incentive programmes  Act 
Manufacturing   
Fiscal incentives  Fiscal Incentives Act, Chapter 85:01  
Import duty concessions  Customs Act, Chapter 78:01  
Approved small company status  Corporation Tax Act, Chapter 75:02  
FTZs Free Zones Act, Chapter 81:07  
Allowances for the manufacturing sector  Income Tax (in Aid of Industry) Act, Chapter 
85:04  
Tax exemptions for the housing sector  Income Tax Act, Chapter 75:01, Section 45C(1)  
Constr uction of multi -storey car parks and commercial 
buildings  Income Tax Act, Chapter 75:01, Section 45D(1) 
(a) and (b)  
Creative sector   
Production expenditure rebate programme   
Tax deductions for sponsorship of audio, visual, and video 
productions  Corporate Tax Act, Chapter 75:02  
Tax deductions for artistic works  Corporate Tax Act, Chapter 75:02  
Tax deductions for production companies  Corporate Tax Act, Chapter 75:02  
Customs duty exemptions  Customs Act, Chapter 78:01  
Sporting sector   
Tax deductions for sponsorship of sporting activities or 
events or sportsmen  Corporate Tax Act, Chapter 75:02  
Tourism   
Tax benefits  Tourism Development Act, Chapter 87:22  
Customs and excise duty exemptions   
Tourism accommodation upgrade projects   
Agricul ture and fisheries   
Tax rebates for agriculture vehicles, water, land, 
machinery and equipment, crops, and livestock, among 
others   
Tax incentives for the commercial fishing sector  VAT Act, Chapter 75:06, Section 45 (1)  
Marine fisheries   
Aquaculture   
Maritime   
Import duty concessions  Customs Act, Chapter 78:01  
Free zone status  Free Zones Act, Chapter 81:07  
Across sectors   
Research and development facilities   
Co-financing   
Importation of goods for temporary use  Customs Act, Chapter 78:01  
Trade  finance for exporter s  
Preshipment financing   
Post-shipment financing   
Demand loans   
Export credit insurance   
Allowances    
Promotional expenses allowance   
Capital expenses allowance  Income Tax Act, Chapter 75:01  
Training allowance  Corporate Tax Act, Chapter 75:02  
Energy sector   
Incentives in the upstream sector  Petroleum Taxes Act, Chapter 75:04, Income Tax 
(in Aid of Industry) Act, Chapter 85:04  
Renewable energy incentives  VAT Act, Income Tax Act, Finance Act No.13 of 
2010 
Compressed natural  gas (CNG) incentives for motor 
vehicles  Finance Act 4/2014, Motor Vehicle Tax Act, VAT 
Act, Corporation Tax Act  
Source:  MOF, Major Investment Incentives in Trinidad and Tobago. Viewed at: 
http://www.finance.gov.tt/wp -content/uploads/2017/08/MOF -Investment -Incentives -in-Trinidad -
and-Tobago -web.pdf . 
3.68.   Foreign and local investors are treated equally with respect to incentives , except that certain 
tourism incentives are reserved for Trinidad and Tobago and CARICOM nationals (Section 4.5.4). WT/TPR/S/388 • Trinidad and Tobago  
 
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  Additionally , in the creative industries, the Production Expenditure Incentive Rebate Programme 
provides for the following cash refunds to producers  on expenditure incurred while filming in Trinidad 
and Tobago:  
a. for nationals: a 35% rebate on expenditure of between TTD  100,000 and TTD  51.2 million;  
b. for non -nationals: a tiered system, from 12.5% to 35%, on an initial expenditure of 
USD 100,000 to USD 8 million; and  
c. an additional 20% cash rebate on expenditure incurred on the use of qualifying local 
labour.  
3.69.   In the 2018 budget, the Government introduced several new incentives61, and proposed to 
"re-establish" export allowances to manufacturers  by allowing t ax reductions for revenues generated 
from incremental exports to existing markets. The authorities state that this programme has not 
been implemented in practice.  
3.70.   In May 2018, EXIMBANK launched the Forex Facility, with an initial capitalization of 
USD 100 million, to secure foreign exchange for exporters of manufactures (Section s 3.2.5 and 4.4 ). 
To benefit from the Facility, applicants must be small or medium -sized manufacturers with annual 
sales of between TTD  50,000 and TTD  100 million, or with at least 3 0% of their business's production 
for export. This facility is not a loan; thus, repayment terms and collateral are not required.  It is 
transaction -based: manufacturers exchange local currency for US dollars through this Facility, at an 
exchange rate determined by the MOF. Using the exchanged US dollars, the EXIMBANK purchases 
supplies from other jurisdictions on behalf of the manufa cturer. All funds obtained from exporting 
through this Facility must be repatriated.62 As at 30 November 2018, the EXIMBANK had disbursed 
USD 4.6 million to 26 companies operating in the following sectors: food and beverages; stationery 
and office supplies;  cosmetics and toiletries; plastics and packaging; fuels and oils; furniture and 
appliances; chemicals and non -metallic minerals; and building and construction materials.  
3.71.   Incentives for the tourism sector were also strengthened. From December 2017, the 
Government increased both expenditure reimbursement, and the maximum reimbursement limit, 
under the  Trinidad and Tobago Tourism Accom modation Upgrade Project as well as increasing the 
interest subsidy and ex tending the loan term under the Loan Guarantee Progr amme (Section 4.5.4) . 
3.72.   Despite numerous incentives to the agriculture sector  (Table  3.12),  the number of persons 
engaging in agriculture and agro -processing continues to decline (Section 4.1).  Also, despite 
exemptions from customs duties on electric vehicle s (with engine size of less than 179 kW) and 
hybrid vehicles (with engine size of less than 1999 cc) (Section 3.1) with the intention of increasing 
the supply of fuel efficient and clean energy vehicles, there was an unintended consequence , as 
individuals have taken advantage of the tax waivers on hybrids to import luxury vehicles . Against 
this background, in the 2018 Budget Statement, the Government decided to extend t he tax  waiver  
to CNG passenger vehicles with an engine size of less than  1599 cc . 
3.3.2   Standar ds and other technical requirements  
3.3.2.1   Standards  
3.73.   The Trinidad and Tobago Bureau of Standards (TTBS) remains the national standards body, 
the national quality certifying body, and the national laboratory accrediting body. Its remit covers 
conformity assessment , laboratory testing, inspection and monitoring, and metrology and 
calibration. The TTBS is the national enquiry point under the WTO Agreement on Technical Barriers 
to Trade (TBT  Agreement) and has accepted the Code of Good Practice for the Preparation, Ad option 
and Application of Standards as contained in Annex 3 to the TBT Agreement. Its remit, to develop 
voluntary national standards and technical regulations (compulsory standards), is set out in the 
Standards Act (see below). Other government bodies with  standard -setting responsibilities are: the 
Telecommunications Authority; the Chemistry, Food and Drugs Division within the Ministry of Health; 
                                                
61 MOF, 2018 Budget Fiscal Measures. Viewed at: https://www.finance.gov.tt/2018 -budget -fiscal-
measures/ . 
62 EXIMBANK online information. Viewed at: http://www.eximbanktt.com/index.html . WT/TPR/S/388 • Trinidad and Tobago  
 
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  the Occupational Health and Safety Authority; and the Environmental Management Authority within 
the Ministry of Planning and Development.  
3.74.   Trinidad and Tobago was not subject to any specific trade concerns (STCs) raised in the WTO 
TBT Committee over the review period. The country has raised two STCs.63 It updated its notification 
on the implementation and administrati on of the TBT Agreement in 2015.64 
3.75.   The TTBS is, inter alia , a member of the International Organization for Standardization (ISO) 
and the CARICOM Regional Organization for Standards and Quality (CROSQ).65 Since 2012, 
memoranda of understanding ( MOUs ) have bee n signed with the International Safety Equipment 
Association (2012); the National Institute of Metrology, Standardization and Industrial Quality of 
Brazil (2012); the Caribbean Cooperation for Accreditation (2013); and Premier Quality Services 
Limited (PQS L) and the CSA Group (2014).66 
3.76.   Over the review period, developments within the TTBS have been : the accreditation, in 2017, 
of its Implementation Division to ISO/IEC 17020:2012 (Conformity assessment – Requirements for 
the operation of various types of bodies performing inspection67); and the launch, in 2014, of an 
automated information management sy stem, which interoperates with TTBizLink in order to enable 
document processing and facilitate trade ( Section  3.2.1). 
3.77.   The laws and regulations governing standards and metrology are: the Standards Act, 
Chap.  82:3; the Standards Regulations, Chap 82.3; the M etrology Act, Chap. 82.6 (proclaimed in 
May 2015); the Metrology Regulations, Chap. 82.6; the Metrology (Quantities of Goods) Regulations, 
Chap. 82:6; and the CROSQ Act of 2005. The scope of the Standards Act excludes food, drugs, 
cosmetics, toxic chemical s, pesticides , and telecommunications. According to the authorities , this 
Act is being reviewed.68 
3.78.   In April 2018, the National Quality Policy 2018 -30 and its accompanying implementation plan 
were issued; this represents a first step in developing a national  quality system. The Policy was 
developed as a project under the National Aid for Trade Strategy, as aligned with Vision 2030 
(Section 2). It is intended to help Trinidad and Tobago's business sector overcome difficulties in 
complying with quality requirem ents and trade rules, and thus exploit commercial opportunities, 
compete globally, and participate in international value chains. Among the stated weaknesses the 
Policy seeks to address are: a lack of demand at the domestic level for quality infrastructure  and 
conformity assessment; an unsystematic adoption of good regulatory practices; a lack of 
enforcement of compulsory requirements in the regulation area; and capacity constraints including 
limited human resources and laboratory space and outdated laborat ory equipment. The Policy 
envisages legislative and institutional reforms, and promotes g reater and more organized 
multi-stakeholder involvement.69 
                                                
63 One in 2003 and another in 2004, both concerning alcoholic beverage regulations from Brazil and 
Argentina, respectively. Viewed at: http://tbtims.wto.org/en/SpecificTradeConcerns/View /101 and 
http://tbtims.wto.org/en/SpecificTradeConcerns/View/106 . 
64 WTO document G/TBT/2/Add.47/Rev.1, 19 October 2015.  
65 Trinidad and Tobago is also: a corporate member of the America n Association of Textile Chemists and 
Colorists; an enterprise member of the American Society for Quality; an associate member of the International 
Bureau of Weights and Measures; a member of the International Electrotechnical Commission country 
programme;  a full member of the Inter -American Accreditation Cooperation; a full member of the National 
Conference of Weights and Measures; and a corresponding member of the International Organization of Legal 
Metrology.  
66 PQSL is a subsidiary of the TTBS which prov ides consultancy and training services. The CSA Group is 
a provider of standards development, testing and certification services. CSA Group online information. Viewed 
at: https://www.csagroup.org/news_or_press/trinidad -and-tobago -bureau -of-standards -mou/ . The authorities 
indicated that all the MOUs that TTBS has entered into, except the one with PQSL, have no significant effect on 
trade and, hence, do not nee d to be notified to the WTO under Article 10.7. They mainly facilitate the use of 
international and foreign standards as the basis for the national standards development process. The MOU with 
PQSL facilitates activities to be undertaken in relation to its status as a subsidiary of the TTBS.  
67 ISO 17020:2012. Viewed at: https://www.iso.org/standard/52994.html . 
68 As noted by the authorities, some issues which need to be addressed in revised legislation i nclude: 
coverage of exports; clarity in defining the role of the TTBS in implementing the provisions of the TBT 
Agreement; revised processes for the development of standards; new processes for the development of 
technical regulations and conformity assessm ent procedures; and improved requirements for appeals.  
69 National Quality Policy. Viewed at: http://gottbs.com/nqp/#.XF1WCOQUmUK . WT/TPR/S/388 • Trinidad and Tobago  
 
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  3.79.   According to the authorities, a proposal to establish a national committee on non -tariff 
barriers is being co nsidered as a strategy, inter alia , to: further comply with the TBT Agreement; 
increase the transparency of regulations falling under the scope of the TBT Agreement; increase 
notifications; foster interagency cooperation; and assist with comments on notifi ed regulations. It 
would also assist with the work plan of the regional committee on TBTs,  and information 
management and enquiry points under the purview of the CROSQ.70 Apparently, the proposal is 
expected to be forwarded to the MTI before the end of the current fiscal year . 
3.80.   A National Standardization Strategy is being prepared by the TTBS with a view to, inter alia , 
ensuring that standards (both new and existing) are based on a clear understanding of national 
priorities in various fields, and that TBTs ar e avoided and commitments under international 
agreements are met by using, wherever feasible and appropriate, relevant international standards 
as the basis for technical regulation, and following international best practice for standards 
development. The T TBS intends to validate this Strategy once stakeholder feedback has been 
obtained . 
3.81.   Based on TTBS procedures, standards and technical regulations may be developed locally or 
adapted from existing foreign standards and regulations. In the first instance, the se are based on 
ISO and IEC standards, followed by those of major trading partners, mainly the United States and 
the United Kingdom. According to the authorities, the TTBS follows the guidelines specified in the 
ISO/IEC directives, which highlight the use of the performance principle in the drafting of standards.  
3.82.   The development of national standards by the TTBS is a three -stage process: a draft 
document is prepared by interested/responsible parties71; press advertisements are published in at 
least two daily  newspapers (current practice is to advertise in the following three newspapers: the 
Trinidad Guardian, the Trinidad Express and the Trinidad and Tobago Newsday) to indicate that the 
draft standard is available for public comment. The draft is then circula ted for public comment for a 
minimum of 30 days (if the standard is intended to be voluntary) or a minimum of 60 days (if the 
standard is intended to be compulsory). In addition, this notice of the availability of the draft 
standard for public comment is p laced on the TTBS website and Facebook page. Where the draft 
standard is intended to be compulsory, the WTO is notified, giving a minimum of 60 days for review 
and comment unless in emergency situations. Finally, the comments are addressed by the relevant 
technical committee and the draft standard is updated to include the agreed changes. If the standard 
is intended to be compulsory, then the final standard is granted compulsory status by the MTI, based 
on the TTBS' recommendation. First, a notice of intent ion to declare the standard compulsory is 
published in the Trinidad and Tobago Gazette , and then a Compulsory Standards Order is published 
in the same. The final standard is published by the TTBS and made available for sale at its Standards 
Information Cen tre. 
3.83.   As specified in the Standards Act, technical regulations are adopted to protect the consumer 
or user against danger to health or safety; protect public or industrial health, welfare or safety; 
protect the environment; ensure acceptable quality in prod ucts, whether produced for domestic  use 
or export; ensure acceptable quality in the case of a restriction in the choice of source of supply; 
require adequate information to be given to the consumer or user; and prevent fraud or 
misrepresentation arising fr om misleading advertising or labelling.  
3.84.   The TTBS accepts equivalent technical regulations from trading partners in the areas of 
electrical items (certification marks UL, CSA and NOM), cement and carbon steel (ASTM, EN and BS 
EN). 
3.85.   The website of the TTBS co ntains a Standards Database whereby the titles, a summary of the 
scope and the standards number of all standards and technical regulations may be viewed 
                                                
70 The CROSQ is a regional inter -governmental organization established in 2002 to facilitate the 
development of regional standards, promote the harmonization of metrology systems, and support the 
sustainable production and trade of goods and services in the CARICOM Single Market and Economy (CSME).  
71 As clarified at the time of the previous Review, the procedure used to initiate the standards 
development process is as follows: the need for standards in a particular industry is solicited from industry 
stakehol ders and government agencies on an annual basis. When a decision is made to proceed with the 
formulation of a standard, a Technical (Standards) Officer is assigned to the project. Preliminary (technical and 
market research) work is then undertaken and main  stakeholders are identified. A cross -section of these 
stakeholders is selected and they are invited to participate in a Technical Specification Committee. 
WTO document WT/TPR/M/260/Add.1, 20 April 2012.  WT/TPR/S/388 • Trinidad and Tobago  
 
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  (http://ttstandards.ttbs.org.tt ). Copies of national sta ndards are available for sale at TTBS offices or 
may be purchased from this body.  As at September 2018, Trinidad and Tobago had 355 standards 
in force, of which 269 were voluntary standards and 86 were technical regulations. The areas in 
which standards (both voluntary standards and technical regulations) are most numerous overall 
are: electrical products; technical drawings; textiles; mechanical equipment and packaging; 
construction products; and consumer products. Technical regulations are most numerous  in the 
areas of electrical, construction and consumer products (Table 3.13).  
Table 3.13 Standards in force, 2018  
 Total 
standards  Technical 
regulations  Voluntary 
standards  
Agriculture  13 1 12 
Chemistry  14 6 8 
Construction codes  6 0 6 
Construction products  21 10 11 
Consumer products  20 10 10 
Electrical codes  3 0 3 
Electrical products  50 40 10 
Environment  18 1 17 
Funeral homes  2 0 2 
Generalities  16 0 16 
Health and safety  17 1 16 
Mechanical equipment and packaging  27 8 19 
Metrology  2 0 2 
Petroleum and energy  5 4 1 
Quality  32 0 32 
Renewable energy systems  4 1 3 
Social responsibility  1 0 1 
Societal security  2 0 2 
Technical drawings  42 0 42 
Telecommunications  6 1 5 
Textiles  42 3 39 
Tourism  12 0 12 
Source:  TTBS Standards Database. Viewed at: http://ttstandards.ttbs.org.tt . 
3.86.   During the period under review, 15 new technical regulations entered into force or were 
revised, for:  
a. electrical products  - lead-acid starter batteries (2014); electric cables – thermosetting 
insulated, non -armoured cables with a voltage of 600/100 0 V for fixed installations 
(2014); electric cables – PVC insulated and PVC sheathed cables for voltages up to and 
including 300/500 V for electric power and lighting (2014); requirements for labelling – 
Part 13: Labelling of Electrical Appliances (2016); e lectric cables – thermosetting 
insulated, armoured cables for voltages of 600/1000 V and 1990/3300 V (2012); self -
ballasted lamps for general lighting services – safety requirements (2014); and moulded -
case circuit breakers, moulded -case switches and circu it breaker enclosures (2012).  
b. consumer products  - safety matches (2013);  
c. construction products  - hollow clay blocks (2015), steel sheets – zinc and aluminium -zinc 
alloy coated – profiled for roofing and general purposes (2012); cold -formed steel framing 
members for structural applications (2012); and specifications for cement (2016);  
d. agriculture  - requirements for labelling – Part 19: Labelling of Fertilizers (2012);  
e. mechanical equipment and packaging  – requirements for labelling – Part 20: Labelling of 
Refrigerant Containers (2015); and  
f. renewable energy systems  – thermal solar systems and components – solar collectors – 
Part 1: General Requirements (2012).  WT/TPR/S/388 • Trinidad and Tobago  
 
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  3.87.   Over the period January 2012 to July 2018, 14 technical regulations were notified to the WTO 
(Table 2.4). No new notifications of conformity assessment procedures were made during the period.  
3.88.   Between January 2012 and September 2018, 20 new/revised standards developed by the 
CROSQ were approved by the CARICOM Council for Trade and Economic Development (C OTED), and 
declared voluntary CARICOM regional standards by the CROSQ. As reported by the authorities at 
the time of the previous Review, when a CROSQ standard that falls within TTBS' ambit is 
implemented nationally, either as a voluntary or a compulsory s tandard, it must go through the 
national adoption process as described above.  
3.89.   Technical regulations and standards are normally subject to review every five years. 
Additionally, there is an annual workplan for each financial year, which also identifies the standards 
and technical regulations to be developed, reviewed, amended or eliminated.72 
3.90.   Currently, no conformity assessment procedures have been developed independently of 
compulsory standards.73 Trinidad and Tobago recognizes third -party assessments from ac credited 
bodies. Supplier declarations are not accepted.74 
3.91.   The TTBS provides testing services to the private and public sectors through its Laboratory 
Services Division, which consists of four laboratories. Testing services are provided for chemical 
product s, fibre products, materials and electrical products.  
3.92.   Accreditation for testing and metrology laboratories is provided by the Trinidad and Tobago 
Laboratory Accreditation Services (TTLABS). Currently , TTLABS is part of the TTBS, but it is foreseen 
that it will become a separate entity, to avoid conflicts of interest. TTLABS is an associate member 
of the International Laboratory Accreditation Cooperation ( ILAC) and, through that framework , 
accepts ILAC -accredited testing and certification worldwide.75 
3.93.   The TTB S Certification Division has the capacity to certify products and tourism services 
against national, regional and international standards. It also en gages in the certification of 
management systems regarding  ISO 9001 Quality Assurance Standards and ISO 140 01 
(environmental management systems – requirements). It is currently completing the process to be 
accredited ISO 17021 ( conformity assessment – requirements for bodies providing audit and 
certification of management systems).76 
3.94.   Compulsory labelling require ments are in place for specific categories of goods, including: 
garments; fertilizers; electrical appliances; plywood panels; pre -packaged goods for retail sale; retail 
packages of cigarettes77; general household and automotive cleaning chemicals; refrigera nt 
containers; and footwear. There is also a technical regulation that provides general principles for the 
labelling of all goods, which are customarily labelled in the course of trade; it applies to all goods, 
whether new or used, and which are offered fo r wholesale or retail trade.  
3.3.3   Sanitary and phytosanitary requirements  
3.95.   The Ministry of Agriculture, Land and Fisheries (MALF) and the Ministry of Health (MOH) have 
responsibility for regulating food importation. The MALF's Animal Health Sub -Division issues i mport 
permits for animals and processed meat products, and its Crop Protection Sub -Division, for plants 
and plant products. The Chemistry, Food and Drugs Division of the MOH regulates food importation, 
and manages the registration and regulation of pharmac eutical products, food additives, cosmetics, 
some chemicals and devices, and pesticides.  
3.96.   The MALF is the enquiry point under the Agreement on Sanitary and Phytosanitary Measures 
(SPS Agreement), and the MTI is its national notification authority. Over the review period, 
                                                
72 WTO document WT/TPR/M/260/Add.1, 20 April 2012.  
73 As reported by the authorities, the Standards Act has no provisions on the development of conformity 
assessment procedures.  
74 WTO document WT/TPR/M/260/Add.1, 20 April 2012.  
75 WTO document WT/TPR/M/260/Add.1, 20 April 2012.  
76 ISO 17021. Viewed at: https://www.iso.org/standard/61651.html . 
77 The authorities indicated that the compulsory labelling requirements for retail packages of cigarettes 
are soon to be withdrawn.  WT/TPR/S/388 • Trinidad and Tobago  
 
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  Trinidad  and Tobago has not made any notifications to the WTO under the SPS Agreement. The 
authorities indicate that Trinidad and Tobago's SPS measures are based on international standards. 
They also state that Trinidad and Tobago needs tech nical assistance in order to fully understand, 
and comply with, its WTO notification obligations. No new STCs have been raised against Trinidad 
and Tobago in the SPS Committee since 2012. No agreements have been reached with other trading 
partners concerni ng SPS measures since 2012.  
3.97.   Trinidad and Tobago is a member of the World Organization for Animal Health (OIE) and 
Codex Alimentarius, and a contracting party to the International Plant Protection Convention (IPPC).  
3.98.   At the regional level, the Caribbean Agri cultural Health and Food Safety Agency (CAHFSA) is 
charged with: establishing an effective regime of SPS measures in support of the Community 
Agriculture Policy goals; providing regional and national support to CARICOM in the establishment, 
management and operation of national agricultural health and food safety systems as they relate to 
the SPS measures of the SPS Agreement; and executing on behalf of countries such actions and 
activities that can be more effectively done through a regional mechanism. Over  the review period, 
the CAHFSA has undertaken risk assessments on behalf of certain CARICOM countries seeking to 
export to other trading partners within the region. Additionally, at the regional level, model bills 
have been developed in the areas of animal  health, plant health and food safety, as an outcome of 
the 10th European Development Fund Programme which commenced in 2013. Comments are being 
collected at the CARICOM level, and it is envisaged that CARICOM members will use these bills to 
adjust their n ational legislation in the different areas.  
3.99.   The Animals (Diseases and Importation) Act, 1954 (last amended in 1997), the Animals 
(Importation) Control Regulations (amended in 2014 and 2018) and other regulations and orders 
contain the conditions that must be met for importing animals and animal products into Trinidad and 
Tobago ( Box 3.4 ). The authorities indicate that an Animal Health Bill is being drafted, which would 
replace the Animal (Diseases and Importation) Act.  
Box 3.4 Import restrictions, requirements and procedures for animals and animal 
carcases, 2018  
Import permit  required for all animals, animal carcases, birds, reptiles and insects.  
Origin restrictions  apply to horses; cattle, pigs, sh eep and goats, and poultry and poultry carcases (except 
fully-cooked chicken) may only be imported directly from specific trading partners listed in schedules to the 
Animals (Importation) Control Regulations. Carcases of cattle, pigs, sheep or goats may on ly be imported 
from trading partners listed in these respective schedules or from any other trading partners with which the 
Chief Technical Officer is satisfied that the import is unlikely to result in the introduction/spread of disease 
(Table A3.1). This restriction does not apply to commercially canned and fully processed meats, or imports 
made by, or on behalf of, the Government  
Import prohibitions:  monkeys; dung; carcases of animals which have died or been slaughtered on board a 
vessel/aircraft; used or  second -hand animal blankets, saddle cloths, felting pads, or similar.  
Export certificates  required from the origin of export (with waivers in certain circumstances).  
Notification requirement:  48 hours prior to consignment arrival (live animals, table eggs  and hatching 
eggs).  
Inspection on arrival at designated ports of entry (these are the following ports: Port of Spain, San Fernando, 
Chaguaramas, Point Lisas and Scarborough, and the following airports: Piarco Airport and A.N.R. Robinson 
International Airp ort). Inspection charges are only paid by the consignee if the consignment is inspected 
outside of working hours.  
Landing permit  issued by inspector.  
Quarantine requirements  apply to horses and ruminant animals (on farm quarantine), with costs being 
borne by the consignee.  
Source:  Animals (Diseases and Importation) Act; Animals (Importation) Control Regulations; and information 
provided by the authorities.  
3.100.   As noted in the previous Review, risk assessments must be conducted to determine the 
feasibility of importing animal products into Trinidad and Tobago from new countries (those with 
which Trinidad and Tobago does not currently trade animal products). Since  2012, there have been 
two such requests: from Suriname to export duck meat to Trinidad and Tobago, and from Belize to 
export beef/live cattle to Trinidad and Tobago. The authorities indicate that the time taken to conduct WT/TPR/S/388 • Trinidad and Tobago  
 
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  a risk assessment can vary from t wo months to a year. Import permits cost TTD  10. Veterinary 
export certificates are issued by the Government Veterinary Officer, with fees ranging from TTD  10 
to TTD  50. 
3.101.   Rules governing the importation of plants (fruit, planting material, plant pests, path ogens, 
plant products, soil and vegetables) are contained in the Plant Protection Act, Chapter 63:56 (last 
amended in 2001) and the Plant Protection Regulations (last amended in 2004) (Box 3.5).78 The 
authorities indicated that a plant health policy has bee n developed, with a view to revising the Plant 
Protection Act; a gap analysis is currently being undertaken. Risk analysis is undertaken by the 
MALF's Plant Risk Analysis Unit. Over the review period, to facilitate imports, a market access 
template was dev eloped at the regional level for plants and plant products, which contains the kinds 
of information that may be required for plant risk analysis. The Plant Quarantine Service maintains 
a "plants import schedule", listing economic crops that may be imported  and the conditions and 
restrictions applicable. Under the Act, the Minister responsible for agriculture may declare a disease 
to be a notifiable disease, or a pest to be a notifiable pest. Declarations made during the review 
period were for: cylas formica rius (sweet potato weevil) and candidatus liberibacter asiaticus 
(Huanglongbing or citrus greening). The Plant Quarantine Service issues phytosanitary certificates 
for exporters.  
Box 3.5 Import restrictions, req uirements and procedures for plants  
Import permit  required from the Plant Quarantine Service. The permit must be submitted four  weeks in 
advance of arrival, and may only be issued to residents of Trinidad and Tobago.  
Origin restrictions:  the entry status of fruit and vegetables is determined according to the pests present in 
the exporting country. Entry requirements are based on a pest risk assessment.  
Phytosanitary export certificates  required from countries of export.  
Inspection by Plant Quarantine Offic er on arrival at designated ports of entry (these are the following 
ports: Port of Spain, Point Lisas and Scarborough, and the following airports: Piarco Airport and A.N.R. 
Robinson International Airport). Testing, if required. Inspections should be perfor med within 24 hours of 
articles' arrival or as soon after as practical. Importers pay inspection costs.  
Source:  Plant Protection Act; Plant Protection Regulations; and information provided by the authorities.  
3.102.   As noted in the previous Review, Trinidad and Tobago follows the International Standards 
for Phytosanitary Measures (ISPM) Nos. 2, 3, 11 and 21 in the conduct of pest risk analysis. In 
addition, a qualitative method is employed, based on the pest risk potential of the quarantine pest 
likely to follow the pathway. The ratings are categorized as either high, medium or low pest risk 
potential. Phytosanitary measures are included as entry conditions on the import permits issued.79 
3.103.   The Food and Drugs Act, 1960 (last amended in 2005) and the Food and Drugs Re gulations, 
1964 (last amended in 1985), inter alia , contain certification and labelling requirements for food and 
drugs, as well as provisions on the inspection and testing of imports.80 In 2018, the Cabinet approved 
a national food safety policy which, acc ording to the authorities, will inform legislative reform in this 
area.81 
3.104.   Imports of fish  and fishery products are regulated by the Fish and Fishery Products 
Regulations, which fall under the Food and Drugs Act.82 Importers of fish must have licences 
(Sectio n 4.2). They must notify the Chemistry, Food and Drugs Division within the MOH of each 
import consignment (advance notification is not required) . Labelling requirements apply.  Inspection 
requirements apply to all imports of fish. The inspection service fee  is TTD  300 if the imported fish 
is to be processed, otherwise it is TTD  1,000. The regulations allow for offshore inspection 
arrangements to be made with overseas governments/agencies/organizations. They also allow for 
                                                
78 Plant Protection Act and Plant Pr otection Regulations. Viewed at: 
http://rgd.legalaffairs.gov.tt/Laws2/Alphabetical_List/lawspdfs/63.56.pdf . 
79 WTO document WT/TPR/M/260/Add.1, 20 April 2012.  
80 Food a nd Drugs Act and Food and Drugs Regulations. Viewed at: 
http://rgd.legalaffairs.gov.tt/Laws2/Alphabetical_List/lawspdfs/30.01.pdf . 
81 The food safety policy was not pu blicly available.  
82 Fish and Fishery Products Regulations. Viewed at: http://laws.gov.tt . WT/TPR/S/388 • Trinidad and Tobago  
 
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  foreign private or government labora tories to be approved to undertake grading, testing and analysis 
activities, although no such arrangements have been entered into.  
3.105.   Bees, bee products and supplies require an import permit from the Inspector of Apiaries. 
Quarantine requirements apply to que en bees.83 
3.106.   Trinidad and Tobago adopted the Cartagena Protocol on Biosafety in 2000 and in this context 
approved a National Biosafety Policy in 2014. The objective of the Policy is to develop an appropriate 
and transparent administrative, regulatory and legi slative framework to govern the safe 
development and use of modern biotechnology  products, including living modified organisms and 
their intended use in food, feed and processing. In 2016, the Cabinet agreed that the national 
biosafety legislative framewor k be established in accordance with the Policy. Presently, the National 
Biosafety Co -ordinating Unit, within the Ministry of Legal Affairs, has responsibility for all matters 
relating to biosafety within the country.84 Under the Policy, it is envisaged that  the Unit's 
responsibilities will be transferred to a National Biosafety Committee. No living modified organisms 
are currently being grown in Trinidad and Tobago .85 Information was not available regarding whether 
imports of such organisms are permitted.  
3.3.4   Competition policy and price controls  
3.3.4.1   Competition policy  
3.107.   The Fair Trading Act (FTA), which was enacted in 2006, remains the key legislation governing 
the competition regime in Trinidad and Tobago. Part II of the Act was proclaimed by the President 
in 2014,  and Parts IV, V , and VI were proclaimed in 2007. The FTA addresses issues including: the 
abuse of monopoly power (dominant position is defined as controlling more than 40% of the 
market); anti -competitive mergers; and anti -competitive agreements. Specific  anti-competitive 
practices that are prohibited under the FTA include resale price maintenance, price -fixing, collusion, 
cartels, and bid rigging.  The FTA is of general application, although it does not apply to: the securities 
industry; telecoms; banking;  intellectual property; or professional associations/collective bargaining 
situations.86 
3.108.   The Fair Trading Commission, an independent statutory agency in charge of monitoring and 
enforcing the provisions of the FTA, was established in 2014. However, the auth orities indicated 
that, as the parts of the Fair Trading Act dealing with receiving complaints and conducting 
investigations have not been proclaimed, the Commission has not been able to receive and 
investigate complaints, nor is it able to bring cases bef ore the court. The FTA stipulates that the 
Commission may conduct investigations; it may initiate an investigation of suspected 
anti-competitive behaviour on its own initiative, or after having received a complaint from a business 
affected by such behaviou r. The Commission may refer contraventions of the FTA to the High Court, 
where it will seek the appropriate remedy. Obstructing or impeding the activities of the Commission 
may result in fines and custodial sentences.  
3.109.   The CARICOM Competition Commission (CCC), established under the Revised Treaty of 
Chaguaramas, deals with cross -border competition issues. The C CC is in the process of completing 
an investigation into a complaint of alleged anti -competitive activity in the  cement industry which is 
related to the cross -border supply of cement; it has also completed a regional market study of the 
beer industry . 
3.3.4.2   Consumer protection  
3.110.   In March 2018, the Cabinet approved a National Consumer Policy 2018 -23, prepared by the 
MTI.87 The Policy intends to harmonize legislation related to consumer protection, which currently 
includes: the Consumer Protection and Safety Act; the Sale of Goods Act; the Hire Purchase Act; 
                                                
83 WTO document WT/TPR/S/260/Rev.1, 2 May 2012.  
84 Ministry of the Attorney General and Legal Affairs  online information. Viewed at: 
http://legalaffairs.gov.tt/Bio/Biosafety%20Brochure.pdf . 
85 Ministry of the Attorney General and Legal Affairs online information. Viewed at: 
http://legalaffairs.gov.tt/bio.html . 
86 FTC online information. Viewed at: http://tandtftc.org/fair -trade -act-2/. 
87 MTI online information. Viewed at: https://tradeind.gov.tt/national -consumer -policy -tt/. WT/TPR/S/388 • Trinidad and Tobago  
 
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  the Standards Act, 1997; the Unfair Contract Terms Act; the Misreprese ntation Act; and the Fair 
Trading Act, among others. The Government considers the current legislative framework does not 
adequately address several emerging issues on consumer protection, such as protection for services 
and digital content transactions, an d that it did not keep pace with the CARICOM Model Bill on 
consumer protection.  
3.111.   At the regional level, Article 185 of the Revised Treaty of Chaguaramas requires that 
CARICOM members enact harmonized legislation to protect consumers. In 2015, a Consumer 
Protection Bill was submitted for adoption as the model bill for CARICOM member States.88 
Trinidad  and Tobago intended to repeal the existing Consumer Protection and Safety Act, and replace 
it with a new Consumer Protection and Empowerment Act based mainly on the provisions contained 
in the CARICOM Model Bill. The coverage of the new Act is envisioned to extend beyond goods, to 
services and digital content transactions. It also intends to set up a quasi -judicial tribunal to settle 
consumer disputes involving a value up to TTD  300,000. The authorities state that t he proposed 
consumer tribunal has not yet been established,  as the legislative process to authorize it is still 
ongoing. Currently, the Chief Parliamentary Counsel is reviewing the Legislative Brief that  was 
submitted by the MTI, and intends to use the Legislative Brief to draft the new consumer protection 
bill. 
3.112.   The new Act also aims to enhance the monitoring, investigating and enforcement powers of 
the Consumer Affairs Division  (CAD)  under th e Ministry o f Legal Affairs. The CAD is Trinidad and 
Tobago's  consumer protection agency ; it provides education and information, advisory, and dispute 
resolution services for goods and services that are advertised and purchased in the country .89 
Consumers can file thei r complaints with the CAD. Complaints deemed valid by the relevant 
authorities are recorded in a Complaints Database90, where specific actions are taken.  The Database 
information can be converted into reports, as needed, by the CAD, to monitor the types of products 
that are commonly complained about, the CAD's resolution rate, and the value of redress provided 
by the CAD.  
3.113.   Specific actions that may be taken by the CAD include: liaising with suppliers; desk research; 
collaborating with other agencies including  the Bureau of Standards; visiting consumers; and 
preparing reports. Following these actions, consumers are provided with redress through: item 
replacement; cash refund; item repair; and the provision of credit notes. The value of redress 
provided by the C AD is approximately TTD  2 million annually. The authorities stated that no criminal 
cases have been brought under the relevant consumer protection legislation since 2012.  
3.114.   Some other institutions also cover consumer protection -related issues in various area s:  
a. the Telecommunications Authority of Trinidad and Tobago (TATT);  
b. the TTBS;  
c. the Chemistry, Food and Drugs Division (CFDD), which monitors all aspects of imported 
and manufactured food and drug items; and  
d. the Regulated Industries Commission (RIC), which e nsures that good quality and efficient 
utility services are provided at fair and reasonable costs.  
3.3.4.3   Price controls  
3.115.   Retail prices of petroleum fuels, kerosene, autodiesel and LPG are fixed by the Ministry of 
Energy and Energy Industries; this is linked to th e provision at petroleum subsidies 
(Section  4.3.1.2) . 
3.116.   Under the Ministry of Works and Transport, various agencies exercise some form of price 
controls on public transport fares; there are two primary forms of price control: a price ceiling and 
                                                
88 National Consumer Policy 2018 -23.  
89 CCC online information. Viewed at: http://www.caricomcompetitioncommission.com/en/consumers -
trinidad -tobago . 
90 The Database records: the demographic information of the consumer; the category of 
product/service; the way in which the complaint was resolved; and the  value of redress to the consumer.  WT/TPR/S/388 • Trinidad and Tobago  
 
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  a price floo r. The Public Transport Service Corporation (PTSC) may set fares for buses in accordance 
with the Public Transport Service Corporation Act. The Port Authority of Trinidad and Tobago (PATT) 
provides, inter alia , inter -island ferry services, which are heavil y subsidized, as the cost of providing 
the service exceeds revenues earned  (Section 4.5.3.1) . The National Infrastructure Development 
Company (NIDCO) operates water taxi services at a fixed fare.  
3.117.   Price controls also apply to public utilities: the RIC is the body responsible for regulat ing the 
electricity , water , and waste -water sectors.  Electricity transmission and distribution prices are 
determined by it. The RIC is currently conducting a price review of the sector  (Section 4.3.1.4) . 
Regarding water, the prevailing rates for the water and waste -water sector were established in 1993 
by the former Public Utilities Commission (the predecessor of the RIC); the RIC is also reviewing 
prices for this sector.  
3.118.   The Minister of Energy and Energy Industries fixes the price of compressed natural gas at 
the pump (Section 4.3.1.3).  
3.119.   In addition, minimum guaranteed prices apply to some agricultural products, such as rice 
and milk (Section 4.1.3).  
3.3.5   State trading, state -owned enterprises, and privatization  
3.120.   Trinidad and Tobago' s most recent notification under Article XVII of the GATT was in 2010, 
when it notified to the WTO that the Cocoa and Coffee Industry Board (CCIB)  was a state trading 
enterprise (STE).91 The CCIB was a government -sponsored and -financed organization establi shed 
in 1961. Following the decision to liberalize the coffee market in 2009, the CCIB facilitated the 
purchase and sale of cocoa from farmers, with a view to "creating an orderly export market facility 
especially for small farmers". Until December 2013, t he CCIB: issued permits to purchase cocoa; 
issued licences to export cocoa; determined the interim price of cocoa; graded and inspected cocoa 
for exports; and granted permits for the secondary processing of cocoa. In 2014, the Cocoa 
Development Company of Trinidad and Tobago (CDCTT) was incorporated as a wholly state-owned 
enterprise (SOE) responsible for the revitalization of the cocoa industry. The CDCTT replaced the 
CCIB from then, and the state trading arrangement under the CCIB was discontinued at the same 
time. 
3.121.   It would appear that after the restructuring of Petrotrin, a new entity, Paria Fuel, will be 
responsible for imports of fuel  (Section 4. 3.1.2). 
3.122.   The State continues to maintain a significant economic presence through fully or partially 
SOEs. In 2 017, there were 55 state enterprises in Trinidad and Tobago: 43 were wholly -owned by 
the Government, 8 were majority -owned by it, and there were 4 in which the Government had a 
minority shareholding. These SOEs include some major players in various sectors  such as gas and 
oil, banking and other financial services, manufacturing, transport and communication, tourism, 
agriculture, information technology, and the provision of social services.92 In 2017, the 
Government's equity holding in SOEs totalled TTD  13.9 billion, with a return on capital employed 
(ROCE) of 3.1%. SOEs in the financial services sector made profits, while those in the energy, 
services, manufacturing and agro -based industries, as well as in transport and communications, 
made a loss (Table 3.14 ). SOEs' performance deteriorated in recent years, but showed a trend to 
turn around from fiscal year 2016 to fiscal year 2017.  
                                                
91 WTO document G/STR/N12/TTO, 20 August 2010.  
92 Government of Trinidad and Tobago (2018), State Enterprises Investment Programme 201 9 – 
Turnaround . Viewed at: https://www.finance.gov.tt/wp -content/uploads/2018/10/State -Enterprises -
Investment -Programme -2019.pdf . WT/TPR/S/388 • Trinidad and Tobago  
 
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  Table 3.14 Profits/(loss) by sector, 2014 -17 
Sector  Profit/( loss) 
after tax 201 4 
TTD million  Profit/( loss) 
after tax 2015  
TTD million  Profit/(loss) 
after tax 2016  
TTD million  Profit/(l oss) 
after tax 201 7 
TTD million  
Energy and energy -based  4,329.8  (173.2)  (4,297.9)  (1,254.3)  
Financial services  1,279.3  1,449.3  994.0  1,151.8  
Manufacturing and agro-based  206.1  126.2  (6.7) (13.3)  
Services  189.7  (67.6)  78.8 (23.9)  
Transport and communication s (264.0)  (46.3)  (739.9)  (133.3)  
Total  5,740.9  1,288.4  (3,971.7)  (273.1)  
Source:  Government of Trinidad and Tobago (2018),  State Enterprises Investment Programme 201 9 - 
Turnaround . Viewed at: https://www.finance.gov.tt/wp -content/uploads/2018/10/State -Enterpri ses-
Investment -Programme -2019.pdf ; and information provided by the authorities.  
3.123.   Some of these SOEs, although making a loss, are important foreign exchange earners 
(Table  3.15).  
Table 3.15 Performance of some S OEs, 2017  
Enterprise  Profit/( loss) before 
tax 
(TTD million ) Corporate tax  
(TTD million)  Foreign exchange  
(TTD million)  
Petrotrin  (1,730.7) 463.5  15,608.3  
National Gas Company (NGC)  2,251.7  1,262.5  7,552.9  
National Enterprise Limited (NEL)  222.1  21.3 0.0 
National Petroleum Marketing 
Company Limited (NPMC)  (6.6) 16.1 156.5  
Source:  Government of Trinidad and Tobago (2018),  State Enterprises Investment Programme 201 9 - 
Turnaround . Viewed at: https://www.finance.gov.tt/wp -content/uploads/2018/10/State -Enterprises -
Investment -Programme -2019.pdf . 
3.124.   National Enterprise Limited (NEL), es tablished in 1999, holds the Government's shares in 
some SOEs. The Government holds 66% of the shareholding of the NEL. Currently, the NEL holds 
shares in:  
a. National Flour Mills Limited (51%);  
b. Trinidad Nitrogen Company Limited (51%);  
c. Telecommunications Ser vices of Trinidad and Tobago Limited (51%);  
d. NEL Power Holdings Limited (100%);  
e. NGC NGL Company Limited (20%); and  
f. NGC Trinidad and Tobago LNG Limited (37.84%).  
3.125.   The Government recognizes that its fiscal system is overrun with subsidies, many of which 
are un sustainable.93 In 2017, the Water and Sewerage Authority (WASA), the Port Authority, 
Caribbean Airlines and the Public Transport Service Corporation (PTSC) received combined transfers  
of close to TTD  3 billion from the central Government94: the Trinidad and Tobago Electricity 
                                                
93 Government of Trinidad and Tobago, Budget Statement 2018. Viewed at: 
http://www.news.gov.tt/sites/default/files/BUDGET -STATEMENT -2018.pdf . 
94 These are subsidies on water rates and transportation tariffs.  WT/TPR/S/388 • Trinidad and Tobago  
 
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  Commission (T&TEC) also received a subsidy of about TTD  750 million per year, by not paying the 
National Gas Company (NGC) for natural gas .95 
3.126.   The Government has no privatization programmes per se , although initial public offerings 
(IPOs) were issued on various SOEs, primarily in the finance and energy sectors. The purchase of 
IPO shares was open to the public. During the period under review, divestment of shares happened 
in the form of IPOs and additional public offerings (APOs) of the Fir st Citizens Bank Limited, and the 
NGC. In 2018, the National Investment Fund Holding Company Limited (NIF) was incorporated, to 
perform trustee functions for the National Investment Fund, which holds shares in the Republic 
Finance Holdings, West Indian Tob acco Company Limited, One Caribbean Media Limited, Angostura 
Holdings Limited, and Trinidad Generation Unlimited. In July 2018, the NIF offered units of bonds 
for sale to the public for an aggregate consideration of TTD  4 billion.  
3.127.   The Government has been exploring public -private partnerships (PPPs). A PPP Unit was 
established in 2011 under the Investments Division  of the MOF. In collaboration with the 
Inter-American Development Bank (IDB), the PPP Unit developed a National PPP Policy, setting out 
the defin ition of PPPs, the process by which PPP projects are developed and implemented, and the 
institutional responsibilities of the PPP programme. The authorities state that the PPP Unit is partially 
in transition to the Office of the Procurement Regulator (OPR) , in accordance with the Public 
Procurement and Disposal of Public Property Act, and the PPP Policy needs to be revised, as certain 
aspects are no longer applicable. The PPP Unit is currently focusing on the construction of a new 
terminal and associated wo rks at the ANR Robinson International Airport, in conjunction with the 
executing agency (NIDCO).  
3.3.6   Government procurement  
3.128.   Trinidad and Tobago is not a party to the WTO Plurilateral Agreement on Government 
Procurement  (GPA) . The authorities are not considerin g joining the GPA.  
3.129.   The public procurement regime is undergoing significant changes. The Public Procurement 
and Disposal of Public Property Act, 201596 (amended by the Public Procurement and Disposal of 
Public  Property (Amendment) Act, 2016 ) is to repeal and  replace the Central Tenders Board Act 
(Chapter 72:19). The Act will govern procurement by all  state agencies  using public money  under a 
single regulatory framework.  The Act was partially proclaimed by the President in 2015, to allow for 
the establishment of the OPR, including the appointment of members of the OPR, the definition of 
its functions, staffing, and the drafting of regulations.97 The Act will also establish a Public 
Procurement Review Board as  the body responsible for reviewing decisions made by the OPR.98 
3.130.   Before the entry into force of the new Act and the establishment of the new Office, public 
procurement remains regulated by the Central Tenders Board (CTB) under the Central Tenders Board 
Ordinance (Act No. 22 of 1961). The CTB is responsible for  procurement with respect to government 
ministries, but not SOEs.99 It regulates procurement above a certain threshold. If the value of the 
acquisition is below this threshold, the tender committee/special ministerial committees within the 
client ministry o r department may award the contract. Where the value is even lower, permanent 
secretaries and department heads may procure goods and services.  
3.131.   Open tenders are advertised both locally and internationally, and are also available for 
download on the CTB webs ite (http://www.finance.gov.tt ). They are open to anyone, irrespective of 
nationality. Preferences in public procurement are provided to SMEs: contracts with a value equal 
                                                
95 Government of Trinidad and Tobago, Budget Statement 2018. Vi ewed at: 
http://www.news.gov.tt/sites/default/files/BUDGET -STATEMENT -2018.pdf . 
96 Public Procurement and Disposal of Public Property Act, 2015. Viewed at: 
https://www.finance.gov.tt/publications/legislation/ . 
97 MOF online information. Viewed at: http://www.finance.gov.tt/wp -
content/uploads/2017/01/Procurement -Practices -and-the-Public -Procuremen t-and-Disposal -of-Public -Property -
Act.pdf . 
98 Government of Trinidad and Tobago (2017), Shaping a Bright er Future – A Blueprint for 
Transformation and Growth . Viewed at: https://www.finance.gov.tt/wp -content/uploads/2016/09/SEIP -2017-
for-web.pdf . 
99 CTB (2008), Information Booklet, page 14.  WT/TPR/S/388 • Trinidad and Tobago  
 
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  to, or less than, TTD  5 million are reserv ed for qualifying SMEs. The CTB may choose to use the 
selective tendering method for public procurement, subject to approval by the Minister of Finance.  
3.132.   The Central Audit Committee under the MOF monitors procurement by both statutory bodies 
and SOEs, which  must submit to the Minister of Finance a list of all contracts awarded each month, 
the value of each contract, and tender rules and any amendments, for approval.  Contractors may 
complain to the CTB or other procuring entity regarding decisions or treatmen t considered 
inconsistent with the CTB Ordinance, and may appeal to court . 
3.3.7   Intellectual property rights  
3.3.7.1   Overview  
3.133.   Trinidad and Tobago is a member of a number of WIPO -administered treaties (Table 3.16). 
The authorities stated that Trinidad and Tobago has ful ly TRIPS -compliant intellectual property laws . 
Table 3.16 WIPO -administered treaties  
WIPO -administered treaties  Date of entry into force for Trinidad and 
Tobago  
Berne Convention for the Protection of Literary  and 
Artistic Works  1988 
Brussels Convention  1996 
Budapest Treaty  1994 
Locarno Agreement  1996 
Nairobi Treatya Signed in 1981  
Nice Agreement Concerning the Intellectual 
Classification of Goods and Services for the Purposes 
of the Registration of Marks  1996 
Paris Convention for the Protection of Industrial 
Property  1964 
Patent Cooperation Treaty  1994 
Phonograms Convention  1988 
Strasbourg Agreement  1996 
Trademark Law Treaty  1998 
UPOV Convention  1998 
Vienna Agreement Establishing an International 
Classification of the Figurative Elements of Marks  1996 
Convention Establishing the World Intellectual 
Property Organization  1988 
WIPO Copyright Treaty  2008 
WIPO Performance and Phonograms Treaty  2008 
a Trinidad and Tobago has not yet ratified the Nairobi Treaty. The authorities indicated that the IPO is 
to take the necessary steps to accede to this Treaty.  
Source:  WIPO online information. Viewed at:  
http://www.wipo.int/ treaties/en/ShowResults.jsp?country_id=174C . 
3.134.   Since the previous Review, the main change  to Trinidad and Tobago's legislative framework 
on intellectual property right (IPR) protection has been the promulgation of a new Trademarks Act, 
2015. The authorities indicated that the Act was passed in Parliament, and its Regulations are 
awaiting accep tance by negative resolution of Parliament; the Regulation is before the Chief 
Parliamentary Counsel, and is expected to be promulgated in the first quarter of 2019. The 
authorities stated that, once the Act comes into force, it will contain provisions on non-traditional 
marks such as sound and smell, and on the accession to the Madrid Protocol for the International 
Registration of Marks.  
3.135.   Trinidad and Tobago's main IP laws include:  
a. Copyright (Amendment) Act No. 5 (2008), and Copyright Act, Cap 82:80 (2008);  
b. Protection of New Plant Varieties Act, Cap.82:75 (2007);  
c. Industrial Designs Act, Cap. 82:77 (2007);  WT/TPR/S/388 • Trinidad and Tobago  
 
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  d. Layout -Designs (Topographies) of Integrated Circuits Act, Cap.82:79 (2007);  
e. Patents, Designs, Copyright and Trade Marks (Emergency) Act, Cap.82:84 (2007);  
f. Patents and Designs Act, Cap.82:83 (2007);  
g. Intellectual Property (Miscellaneous Amendments) Act of 5 May 2000;  
h. Patents Act, 1996;  
i. Trade Marks (Amendment) Act, 1997 (Act No.31 of 1997), Trade Marks Act, 1997, Trade 
Marks (Amendment) Act, 1996 (Act No.25 of 1996), Trade Marks (Amendment) Act, 1994 
(Act No.17 of 1994);  
j. Publications (Legal Deposit) Act, Cap.82:74 (1985); and  
k. Geographical Indications Act, 1996.100 
3.136.   The Intellectual Property Act, 2000 contains provisions against unfair competition, as well 
as provis ions addressing practices that mislead the public, discredit another enterprise, and disclose 
secret information.  
3.137.   The principal agency responsible for IPR policy development and administration remains the 
Intellectual Property Office of Trinidad and Tobago  (IPO), a department within the Ministry of the 
Attorney General and Legal Affairs. It handles both industrial property and copyright protection.101 
3.138.   The Patents Act and Rules allow for compulsory licences. The authorities stated that there 
have been no appli cations for compulsory licen ces since the previous Review. Compulsory licen ces 
are also allowed  under the New Plant Varieties Act; there have been no applications for compulsory 
licences under this Act.  
3.139.   Under the Patents Act, parallel imports are allowed. Parallel imports of copyrighted goods 
are not allowed. The system of international exhaustion of trademark rights allows parallel 
importations of branded goods.  
3.3.7.2   Industrial property rights  
3.140.   For industrial property rights, the duration of protection remains t he same as at the time of 
the previous Review:  
a. 20 years from the date of filing for patents , and 10 years from the date of filing for utility 
certificates ; 
b. 10 years from the date of  registration for trademarks , renewable indefinitely for 10-year 
periods;  
c. 15 or 18 years from the filing date of the application for new plant varieties , depending on 
the species;  
d. 5 years for industrial designs , renewable for two consecutive 5 -year periods ; 
e. 10 years for a layout -design of an integrated circuit , from the date of first commercial 
exploit ation or, if not yet commercial, from the filing date ; and 
f. regarding geographical indications (GIs), there is no set duration to their validity. GIs may 
be cancelled if the indication of the quality, reputation, or other characteris tic of such 
products is missing or unsatisfactory. The connection between the protected reputation 
and the actual reputation must be consistent and maintained.  
3.141.   Patents are governed mainly under  the Patents and Designs Act, 2007; the Patents 
Act,1996; and the Intellectual Property ( Miscellaneous Amendments ) Act, 2000. The authorities 
                                                
100 WIPO online information. Viewed at: http://www.wipo.int/wipolex/en/profile.jsp?code=TT . 
101 IPO online information. Viewed at: http://www.ipo.gov.tt/ . WT/TPR/S/388 • Trinidad and Tobago  
 
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  stated that it takes, on average, three to five years for patent applications to be searched and 
examined. There is no time limit for applicants to respond to office actions an d to pay the search 
and examination fee, and applicants may delay paying the fee for up to ten years. In addition to the 
IPO, patent applications may be filed under the Patent Cooperation Treaty (PCT) (Table 3.17). There 
is an absolute novelty rule in Trin idad and Tobago.  
Table 3.17 Patent applications and patents granted  
 Patent applications  Patent s granted  
 Resident  Non-resident Abroad  Resident  Non-resident  Abroad  
2012 2 213 8 2 55 10 
2013 .. 174 12 .. 34 9 
2014 4 184 7 .. 39 10 
2015 3 165 10 .. 33 11 
2016 3 133 16 1 59 4 
2017 0 146 .. 0 96 .. 
 International applications under the PCT  PCT national phase entry (direct, and via 
regional office)  
  Resident  Non-resident  Abroad  
2012 1 .. 208 5 
2013 .. .. 172 2 
2014 1 .. 180 2 
2015 4 .. 165 1 
2016 38 .. 133 9 
2017 3 0 146 .. 
.. Not available.  
Note:  A resident filing refers to an application filed in the country by a resident; whereas a non -resident 
filing refers to one filed by a foreign applicant. Abroad refers to an application filed by the country's 
resident at a foreign office.  
Source:  WIPO online information. Viewed at: 
http://www.wipo.int/ipstats/en/st atistics/country_profile/profile.jsp?code=TT . 
3.142.   It takes approximately 9 to 12 months for a trademark to be registered if there are no 
objections to the application. The numbers of applications and registrations made by non -residents 
outnumber those made by residents (Chart  3.3).102 The application process involves a search for 
prior rights, substantive examination, and the publication of the mark in a daily newspaper if it is 
accepted for registration. The public is given three months to submit any written obj ection opposing 
the registration of the mark. If a mark has not been used for five years, an interested party may 
apply to the IPO Controller or the Court for its removal from the Register.  
                                                
102 IPO online information. Viewed at: http://www.ipo.gov.tt/types -of-ip/trade -marks/ . WT/TPR/S/388 • Trinidad and Tobago  
 
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  Chart 3.3 Trademark s applications and registrations, 2012 -16 
(Number)  
 
Source:  WIPO online information. Viewed at: 
https://www.wipo.int/ipstats/en/statistics/country_profile/profi le.jsp?code=TT . 
3.143.   In Trinidad and Tobago, an industrial design is the ornamental aspect of a useful article; the 
ornamental aspect must not be dictated solely or essentially by technical or functional 
considerations. Industrial designs are regulated under th e Industrial Designs Act, 2007. In general, 
applications and registrations by residents outnumber those by non -residents (Chart 3.4).  
Chart 3.4 Number of industrial design applications and registrations, 2012 -16 
(Number)  
 
Source:  WIPO online information. Viewed at: 
https://www.wipo.int/ipstats/en/stati stics/country_profile/profile.jsp?code=TT . 
05001,0001,5002,0002,5003,0003,5004,000
Resident Non-resident Abroad Resident Non-resident Abroad
2012 2013 2014 2015 2016Chart 3.[Trademarks]
Trademarks applications and registrations, 2012 -16
Source:  WIPO online information, viewed at:
http://www.wipo.int/ipstats/en/statistics/country_profile/profile.jsp?code=TT(Number)
Applications Registrations
020406080100120140160180200
Resident Non-resident Abroad Resident Non-resident Abroad
2012 2013 2014 2015 2016Chart 3.[Industrial designs]
Number of designs in industrial design applications and registrations, 2012 -16
Source: WIPO online information, viewed at: 
http://www.wipo.int/ipstats/en/statistics/country_profile/profile.jsp?code=TT(Number)
Applications RegistrationsWT/TPR/S/388 • Trinidad and Tobago  
 
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  3.144.   Trinidad and Tobago's legislation concerning trade secrets remains the same as described in 
its previous Review .103 There is no process to register trade secrets. Businesses are advised to take 
precautionary steps r egarding confidentiality of processes that are not easily reverse -engineered 
and are complex enough to merit being considered trade secrets. This involves management of those 
privy to the information or  those who  may have to come into contact with the proc esses. The IPO 
incorporates information on trade secrets in its sensiti zation efforts and public education programme 
for stakeholders . 
3.145.   In 2017, t he first GI was filed in Trinidad and Tobago , concern ing cocoa and cocoa products 
from the Montserrat Cocoa Far mers Cooperative of Gran Couva in Trinidad. The IPO is currently in 
the process of reviewing several other potential GIs, such as the Tableland p ineapple and Moruga 
Hill rice. 
3.146.   No application ha s been filed yet under the Layout -Designs (Topographies) of Int egrated 
Circuits Act.  The authorities indicate that the IPO is working with the Caribbean Industrial Research 
Institute (CARIRI) to prepare a strategy to foster growth in this sector . 
3.147.   No new applications for plant breeders ' rights have been filed since the previous Review 
under the Protection of New Plant Varieties Act . The authorities stated that areas actively discussed 
by the IPO with other agro -sector stakeholders include Tableland p ineapple and Moruga Hill rice. 
3.3.7.3   Copyright  
3.148.   Registration is not required f or copyright to be protected  in Trinidad and Tobago . 
3.149.   The Copyright Act protects copyright from infringement on the Internet. Trinidad and Tobago 
has adopted the Internet treaties: it is a member of the WIPO Copyright Treaty (WCT), and the 
WIPO Performance and Phonograms Treaty (WPPT).  
3.150.   Copyright protection continues to be for the life of the author plus 50 years. Collective works 
and audiovisual works are protected for 75 years from the date on which the work was first 
published, or 100 years from the making  of the work, if the work was neither made available to the 
public nor published within 25 years of its creation.  
3.3.7.4   Enforcement  
3.151.   Fines and penalties regarding IPR -infringing cases remain unchanged since 2012.104 
Domestically, IPR enforcement is ma inly the respo nsibility of the P olice, while at the border it is the 
responsibility of the Customs and Excise Division. At the border, seizures of goods suspected to be 
infringing IPRs must be initiated by the right holders and authorized licensees, rather than by the 
Customs ex officio . 
3.152.   IPR-related cases are handled by the civil courts, comprising the High Court of Justice and 
the Court of Appeal, with final appeal to the Judicial Committee of the Privy Council. The Magistrates 
Court deals with criminal acts of infringe ment. Information provided by the authorities suggest that 
14 cases related to trademarks, 10 related to copyrights, and 2 related to patents have been dealt 
with by the courts.  
3.153.   The IPO is involved in the administration of the law; it provides training for  enforcement 
officials. Through the newly -established IP Library (established in 2018) of Trinidad and Tobago, the 
IPO tracks and compiles IP matters. The authorities stated that there has been increased cooperation 
between the IPO and the enforcement agen cies as well as the judiciary, regarding training for the 
Police, Customs, and the courts. The IPO has embarked on several initiatives aimed at increasing 
enforcement of IPRs:  
a. replacing piracy with partnership initiatives, such as communicating with stakeholders 
such as Netflix and Spotify to provide increased licensing opportunities;  
                                                
103 WTO document, WT/TPR/S/260/Rev.1, 2 May 2012.  
104 WTO document, WT/TPR/S/260/Rev.1, 2 May 2012.  WT/TPR/S/388 • Trinidad and Tobago  
 
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  b. cooperation with the United States Patent and Trademark Office (USPTO) IP Attaché, to 
organize workshops, and conduct training for Customs, Police and other enforcement 
agencies;  
c. roundtable discussions with stakeholders such as the Bureau of Standards, Customs, the 
Police, and Crime Stoppers International;  
d. meetings with regional corporations and municipal police to provide IP information; and  
e. exploring strategies used by  other jurisdictions to combat online privacy, and increase the 
responsibility of Internet service providers.  
3.154.   The authorities consider that IPRs underpin several knowledge -based industries that are vital 
to the country's economic prosperity. The Government  has adopted several approaches to encourage 
the acquisition of IPRs. The IPO launched a public awareness and education campaign, Building 
Respect for IP, to reduce the demand for pirated and counterfeit products. It also organized IP Clinics 
to inform ent repreneurs and innovators of the various IP aspects of their businesses, as well as the 
next steps to take to acquire those rights and leverage them for improved competitiveness. In 
addition, the Research and Development Facility operated by ExporTT provid es funding for the 
acquisition of new technology, and for the applications for industrial property rights. MOUs were also 
signed with: CARIRI and the University of Trinidad and Tobago, to provide IP information. The 
authorities stated that the Building Res pect for IP initiative has been successful, as exemplified by 
the increase in requests for IP information, the increase in the number of trademark applications, 
the progress made in the filing of GIs, and the increase in the number of PCT applications.  
3.155.   On 6 December 2018, Trinidad and Tobago signed:  
a. an MOU with WIPO concerning the use of alternative dispute resolution (ADR) procedures 
for IP disputes; and  
b. a Cooperation Agreement with WIPO on the establishment of a National Intellectual 
Property Training Ce ntre in the IPO.  
3.156.   In addition, the authorities indicated that the Cabinet app roved the accession of Trinidad  and 
Tobago to the following WIPO treaties and conventions:  
a. Singapore Treaty on the Law of Trademarks;  
b. Rome Convention for the Protection of Performe rs, Producers of Phonograms and 
Broadcasting Organizations;  
c. Beijing Treaty on Audiovisual Performers;  
d. Marrakesh Treaty to Facilitate Access to Published Works for Persons Who Are Blind, 
Visually Impaired, or Otherwise Print Disabled; and  
e. Patent Law Treaty  (PLT) and Madrid Protocol Concerning the International Registration of 
Marks.  WT/TPR/S/388 • Trinidad and Tobago  
 
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 4  TRADE POLICIES BY SE CTOR  
4.1  Agriculture  
4.1.1   Features  
4.1.  Agriculture in Trinidad and Tobago accounted for about 0.5% of GDP (forestry and fisheries 
included) (Table 1.1) and 3.4% of employment in 2017. Labour productivity remains relatively lower 
than other sectors. Growth rates of the agriculture, forestry and fisheries sector has been volatile. 
After contracting i n 2013 and 2014, the sector registered a positive growth rate of 25 .1% in 2015; 
the authorities attribute this growth to the implementation of the National Food Production Action 
Plan 2012 -15, and the consequent increases in the production of a number of c ommodities. However, 
the sector declined again in 2016 ( -15.3%), before another positive growth was observed in 2017 
(21.5%) (Chart 4.1).  
Chart 4.1 Real growth rates of the agriculture and other selected sectors, 2013 -17 
 
Source:  Central Bank.  
4.2.  Trinidad and Tobago is a net food importer. In 2017, agriculture (WTO definition) accounted 
for about 10% of total merchandise exports and 18% of non -oil expo rts. It accounted for about 
13.5% of total m erchandise imports (Section 1).  
4.3.  Agricultural production is concentrated in a small number of products. In 2016, chicken meat 
accounted for around 30% of total production value, followed by fresh fruits (10%) and pig meat 
(5%) ( based on Chart 4.2). Based on FAO data, there was no sugar cane production during the 
period under review.  
4.4.  The Government has been prioritizing the development of agriculture to diversify the economy 
away from the dominance of oil and gas, and to increase food security. Constraints facing the 
agriculture sector include infrastructure weaknesses with regards to irrigation facilities, drainage 
systems, warehouse and other post -harvest facilities; insufficient access to financing1; a small 
dome stic market; the small size of farms; and uncertainty in the land tenure system. Only 11.8% 
                                                
1 IDB (2018), Analysis of Agricultural Policies in Trin idad and Tobago . Viewed at: 
https://publications.iadb.org/bitstream/handle/11319/8881/Analysis -of-Agricultural -Policies -in-Trinidad -and-
Tobago.pdf?sequence=1&isAllowed=y . 
-2.0
-9.925.1
-15.321.5
0.9
-3.30.9
-3.4-2.64.2
-0.21.9
-2.10.92.0
-1.01.8
-6.5-1.9
-20-15-10-5051015202530
2013 2014 2015 2016 2017
Agriculture, forestry and fishing Manufacturing Services GDPChart 4.1 Real growth rates of the agriculture and other selected sectors, 2013 -17
Source: Central Bank of Trinidad and Tobago.WT/TPR/S/388 • Trinidad and Tobago  
 
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  of land area in Trinidad and Tobago is agricultural land.2 About half of all agricultural land is owned 
by the State , while production is mainly on small family far ms. Most h oldings are smaller than 10  ha. 
Chart 4.2 Agriculture gross production, 2010 -16 
(Constant 2004 -06, USD million)  
 
Source:  FAOStat online database.  
4.1.2   Trade  
4.5.  According to information provided by the Centr al Statistical Office, Trinidad and Tobago exports 
mainly processed agricultural products, such as cigarettes, waters, cereals, beer, rum, chocolate, 
and biscuits (Table 4. 1). In 2017, the main export markets for agricultural products included: 
Jamaica, Gu yana, Suriname, Barbados, the Uni ted States, Grenada, and St. Lucia.  
4.6.  Trinidad and Tobago imports most of its food for consumption; imported agricultural goods are 
broadly spread across various product groups (Table 4.2 ). Main imports include other wheat an d 
meslin, food preparations, cheese, preparations used in animal feeding, maize, other chemically 
pure sucrose, milk and cream powder, and incubated fertilized fowl eggs.  
Table 4.1 Top 10 exports of agricultural products, 2012 -17 
(TTD million)  
HS code  Commodity 
description  2012  2013  2014  2015  2016  2017  
2402.20.00  Cigarettes containing 
tobacco  373.1  326.0  286.0  302.1  271.4  240.5  
2202.10.10  Aerated waters , 
sweetened/flavoured  270.8  264.2  257.3  282.5  210.3  199.9  
2202.10.90  Other waters , incl. 
mineral, 
sweetened/flavoured  150.7  141.2  185.7  217.4  183.9  165.7  
2208.90.10  Aromatic bitters, 
flavoured,  agent s for 
food 72.6 96.4 124.6  124.8  111.7  129.2  
1904.10.00  Prepared foods 
obtained by  the 
swelling or roasting 
of cereals or cereal 
products  71.0 75.1 65.4 68.7 76..5 88.0 
2203.00.10  Beer from malt 98.7 87.3 94.5 72.4 77.0 70.2 
                                                
2 Geographic Information Systems (GIS) Unit, Ministry of Agriculture, Land and Fisheries (MALF).  
050100150200250300
2010 2011 2012 2013 2014 2015 2016
Meat, indigenous, chicken Fruit, fresh Meat, indigenous, pig
Plantains and others Coconuts Eggs, hen, in shell
OtherChart 4.2    Agriculture gross production, 2010 -16
(Constant 2004 -2006 USD million)
Source:  FAOStat online database.WT/TPR/S/388 • Trinidad and Tobago  
 
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  HS code  Commodity 
description  2012  2013  2014  2015  2016  2017  
2208.40.90  Other rum and other 
spirits of sugar cane  160.6  105.4  104.1  96.8 12.3 15.0 
1806.31.00  Chocolate and  other 
cocoa preparations 
(blocks) , filled 63.2 64.2 60.8 60.5 65.0 95.0 
1905.90.10  Biscuits, 
unsweetened  70.1 72.3 64.9 73.7 84.0 90.2 
1905.31.00  Sweet biscuits  65.0 70.2 75.9 78.7 83.2 90.6 
 Other agriculture 
exports  1,111.5  1,053.7  1,118.6  1,219.8  1,446.1  1,411.2  
 Total agriculture 
exports  2,507.2  2,356.1  2,437.9  2,597.4  2,621.5  2,595.5  
Source:  Data provided by the authorities.  
Table 4.2 Top 10 imports of agricultural products, 2012 -17 
(TTD million)  
HS code  Commodity description  2012  2013  2014  2015  2016  2017  
1001.99.00  Other wheat and meslin  296.2  284.1  288.9  222.2  182.1  192.7  
2106.90.90  Other food preparations 
n.e.s.  150.1  176.0  172.4  185.3  198.2  365.0  
0406.90.90  Other cheese  83.3 190.4  219.3  157.3  158.7  261.7  
2309.90.90  Other prepared feeds for 
animals  177.7  220.6  162.3  167.7  148.9  228.1  
1005.90.00  Maize (c orn), other than 
seed 209.6  180.2  141.2  121.9  131.4  117.0  
1701.99.90  Other chemically pure 
sucrose (solid)  131.6  118.2  95.6 90.5 95.1 158.1  
2304.00.00  Oil-cake and other solid 
residues, of soya -bean oil  65.0 101.3  145.7  106.2  125.6  98.7 
0407.11.20  Incubated fertilized fowl 
eggs, not for breeder 
flocks 97.9 50.7 109.4  117.6  110.3  119.3  
0402.21.00  Other milk and cream, in 
powder (unsweetened)  66.8 89.4 94.6 121.2  120.4  125.2  
0207.14.90  Other cuts/offal of fowl 
(frozen)  113.8  96.5 114.1  108.8  104.7  113.3  
 
Other agriculture imports  5,166.3  5,045.9  5,418.1  5,488.6  5,188.4  4,806.4  
 
Total agriculture 
imports  6,558.4  6,553.4  6,961.5  6,887.4  6,563.9  6,585.4  
Source:  Data provided by the authorities.  
4.7.  In 2017, the main sources for Trinidad and Tobago's agricu ltural imports were: the 
United  States, New Zealand, Canada, the Netherlands, Brazil, Guyana, Costa Rica, the 
United Kingdom, Irela nd, and China.  
4.1.3   Agriculture policies  
4.8.  The Ministry of Agriculture, Land and Fisheries (MALF) is responsible for developing and 
implementing Trinidad and Tobago's agriculture policy. Measures adopted at the border include 
tariffs and surcharges; other measure s adopted include minimum guaranteed prices, investment 
incentives and input subsidies, and low -interest loans. The MALF has also been making efforts to 
address the  land tenure issue (see below).  
4.1.3.1   Institutional  arrangements and policy objectives  
4.9.  In addition  to the MALF, the following organizations play an important role in implementing 
agricultural policy:  WT/TPR/S/388 • Trinidad and Tobago  
 
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  a. Cocoa Development Company of Trinidad and Tobago (CDCTT), which replaced the Cocoa 
and Coffee Industry Board (CCIB) in 2014, is responsible for the issuance of: certificates 
of origin (COO) for cocoa exports to prove the cocoa was grown in Trinidad and Tob ago; 
Certificate s of Quality, which contain information related to cadmium, ochratoxin A, 
polycyclic aromatic hydrocarbons (PAH s) and pesticide residues; and CDCTTL Registered 
Certification Mark s, which certif y that the beans were grown under ISO requireme nts; 
b. the Agricultural Society of Trinidad and Tobago (ASTT), a national organization 
representing farmers , and a statutory body within the MALF;  
c. the National Agricultural Marketing and Development Corporation (NAMDEVCO), which 
provides marketing price info rmation to farmers , as well as facilities and services to aid 
domestic trade and ex ports;  
d. the Agricultural Development Bank (ADB), which is a state -owned bank responsible for 
providing financial serv ices to the agriculture sector;  
e. the Estate Management and Business Development Company (EMBD), which became part 
of the MALF in 2011 , is responsible for the agricultural land that used to belong to Caroni; 
and 
f. Palo Seco Agricultural Enterprises Limited (100% owned by the Government), which 
became part of the MAL F in 2017, is responsible for co ordinating infrastructure 
development projects and providing estate maintenanc e and land management services.  
4.10.   Legislation related  to the development of agriculture includes the Food and Drug Act (Chap. 
30:01); the Exportatio n of Fruit Act (Chap. 63:53); the Plant (Export Prohibition) Act; the Animal 
(Diseases and Importation) Act (Chapter 67:02); the Plant Protection Act (Chapter 63:56); the 
Beekeeping and Bee Products Act (Chapter 67:53); the Conservation of Wildlife Act (Chapter 67:01 ); 
the Land Acquisition Act (Chapter 58:01); the National Agricultural Marketing Development 
Company Act (Chapter 63:05); the Regularisation of Tenure (State Lands ) Act No.  20 of 1986; the 
State Lands Act (Chapter 57:01); and the Forest Act (C hapter 66:01).  There have been no 
amendments to these Acts since 2012.3 
4.11.   The authorities state d that the overarching policy goal for the agriculture sector is to create 
a food secure nation. According to Vision 2030  (Section 2) , modernization of agriculture  is a crucial 
factor for the economy's international competitiveness. The Trade Policy and Strategy for Trinidad 
and Tobago 2013 -17 identified the food and beverages subsector as having strong export potential.  
In addition, CARICOM ministers approved a Reg ional Food and Nutrition Security Policy (RFNSP) in 
2010, and approved the Regional Food and Nutrition Security Action Plan 2012 -26 in 2011. The 
RFNSP is viewed as a comprehensive and integrated framework for actions to achieve the objectives 
of adequate f ood availability, access, utilization, and stability throughout the region. It serves as 
one of the pillars for the Community Agriculture Policy. Both the RFNSP and the Action Plan mandate 
CARICOM members to formulate their national food and nutrition secu rity policies and programmes 
within the general framework of the regional plan, and to improve access by the most vulnerable 
groups to sufficient, nutritio us and safe food.  
4.12.   The Government developed its National Food Production Action Plan 2012 -15, which id entified 
five specific targets:  
a. reduce food importation;  
b. further reduce inflation, which was primarily driven by food prices;  
c. create sustainable, long -term productive employment;  
d. contribute to the diversification of the economy; and  
                                                
3 The last amendment to the Food and Drugs Act was in 2005. The Exportation of Fruit Act, enacted in 
1979, has never been amended. The Plant (Export Prohibition) Act , enacted in 1938 , has never been amended.  WT/TPR/S/388 • Trinidad and Tobago  
 
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  e. increase the country's  food security.  
4.13.   To achieve these goals, the Government intend ed to increase production of specific products 
within major food crops, and achieve greater self -sufficiency in these products. The Action Plan 
focused on six commodity groups: staples, vegetable s, legumes and pulses, fruits, livestock, and 
aquaculture. Products identified for both domestic and export markets are: pumpkin, dasheen bush, 
okra, tomato, hot pepper, cucumber, cocoa, and honey. Research was conducted to promote high -
yielding and pest -resistant varieties. The Government also aimed to identify and select appropriate 
machinery for increased mechanization in the production of certain crops, provided training on 
production technology for farmers, and encouraged the use of new technologies to  improve 
productivity.  
4.1.3.2   Border measures  
4.14.   The agriculture sector receives more trade protection than the rest of the economy. The tariff 
is the main trade policy tool in Trinidad and Tobago. In addition, some agricultural products are also 
subject to surcharg es at the border  (Section 3.1.3.4) . 
4.15.   Trinidad and Tobago applies the CARICOM CET to all tariff lines, with the exception of 93 lines 
on List A. Most of the 93 lines are agricultural products. Tariffs applied on these lines are lower  than 
or equal to the CET  rates (Section 3. 1.3.5). The simple average applied MFN tariff on agricultural 
imports fell from 20% in 2012 to 17.9% in 2018; however, this r ate remains higher than for 
non-agricultural imports (7.3%) (Table 4.3) . 
Table 4.3 Border measures – tariffs  
 No. of 
lines  No. of 
lines 
spec. 
duty Average 
applied 
MFN rate  
(%) Range  
(%) Coeff. of 
variation  Bound 
average 
(%)a 
WTO agriculture  1,118  26 17.9 0-5.7 1.0 86.3 
 - Animals and products thereof  177  
24.0 0 40 0.7 75.7 
 - Dairy products  25  
12.4 0-40 1.1 100.0  
 - Fruit, vegetables and plants  327  
22.2 0-40 0.8 93.5 
 - Coffee and tea  29  
15.7 0-40 1.0 80.7 
 - Cereals and preparations  138 1 13.4 0-40 1.0 84.5 
 - Oil seeds, fats and oils , and their 
products  109  
13.3 0-40 1.4 85.8 
 - Sugars and confectionary  24  
22.1 0-40 0.8 100.0  
 - Beverages, spirits and tobacco  119 25 25.0 0-65.7 0.7 100.0  
 - Cotton  6  
0.0 0-0 0.0 80.0 
 - Other agricultural products n.e.s.  164  
7.0 0-40 2.0 80.1 
WTO non -agriculture (incl.  
petroleum)  5,362   
7.3 0-5.7 1.5 50.6 
 - Fish and fishery products  277  
29.6 0-40 0.5 50.4 
a Although applied MFN and bound tariffs are in the same nomenclature, they do not have the same 
number of lines, therefore tariff averages may not be comparable.  
Source:  WTO Secretariat, based on tariff information provided by the authorities.  
4.16.   Tariff rates range from zero to 65.7% for agricultural products; the highest tariff rates are on 
beverages, spirits and tobacco; followed by animals and products thereof; fru it, vegetables and 
plants; and sugars and confectionary (Chart 4.3).  
4.17.   Among the 1,118 agricultural tariff lines, 37.8% (423 lines) are duty free, less than the duty -
free percentage of non -agricultural tariff lines (65.4%). 30 .4% of tariff lines carry a duty rate of 
40%, and 15 .4% of tariff lines carry a duty rate of 20% (Chart 4.4). A total of 26 lines (2.3%) carry 
specific duties. They are beverages, spirits and tobacco products (25 lines), and cereals and 
preparations (1 line) . The ad-valorem  equivalents  (AVEs)  of these lines were not made available to 
the Secretariat.  WT/TPR/S/388 • Trinidad and Tobago  
 
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  Chart 4.3 Average tariff rates of WTO agricultural groups, and fish and fishery products  
 
Source:  WTO Secretaria t calculation s, based on data provided by the authorities.  
Chart 4.4 Frequency distribution of agriculture tariff rates, 2018  
 
Source:  WTO Secretariat calculation s, based on data provided by the authorities.  
4.18.   In addition to import tariffs, some agricultural commodities are subject to surcharges  
(Section  3.1.3.4) . The authorities state d that the surcharges are considered as other duties and 
charges on imports, and are occasionally applied or removed as the need arises.  
4.19.   The Customs Act lists certain agricultural goods prohibited from importation, such as: brandy 
and rum not meeting alcoholic volume or packaging specifications; spirits and wines in general not 
0.0 5.0 10.0 15.0 20.0 25.0 30.0 35.0 - Fish and fishery productsWTO non-agriculture (incl. petroleum) - Other agricultural products n.e.s. - Cotton - Beverages, spirits and tobacco - Sugars and confectionary - Oil seeds, fats and oils and their products - Cereals and preparations - Coffee and tea - Fruit, vegetables and plants - Dairy products - Animals and products thereofWTO agricultureTotal
Average (%)
Source:   WTO Secretariat calculation, based on data provided by the authorities.Chart 4.3   Average tariff rates of WTO agricultural groups, and fish and fishery products
37.8%
0.1%
2.1%
0.2%
3.0%
6.2%15.4%1.6%0.1%0.1%30.4%0.7%2.3%Chart 4.4  Frequency distribution of agriculture tariff rates, 2018
0 2.50% 5% 8.45% 10% 15% 20% 25% 30% 35% 40% 65.70% Specific dutyMFN tariff rates:(As a share of total agriculture tariff lines)WT/TPR/S/388 • Trinidad and Tobago  
 
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  meeting packaging specifications; extracts, essences a nd other concentrations of tobacco, except 
under certain conditions; and unrefined sugar not manufactured in Trinidad and Tobago, except with 
permission from the President (Section 3.1 .4). Import licensing requirements apply to some 
agricultural products i ncluding livestock , and oils and fats (Section 3.1 .4). 
4.20.   The authorities state d that the exportation of teak timber and pine logs harvested from the 
forest s located in state lands or forest reserves is prohibited.  
4.21.   Furthermore, excise duties are applied to a  number of goods  produced domestically 
(Section  3.3.1.1). Notably, the rate applied to rum is less than half of that applied to some other 
distilled beverages. Trinidad and Tobago is a net exporter of rum, although the share of these  exports 
in total agric ultural exports fell from 7.6% in 2012 to 1.6% in 2017 , due to the fall in the exp ort 
value of rum (Table  4.4). During the same period, the import value of rum remained relatively stable, 
accounting for less than 0.2% of total agricultural imports.  
Table 4.4 Exports and imports of rum  
(TTD million)   
2012  2013  2014  2015  2016  2017  
Rum exports  190.4  133.3  129.1  123.4  81.5 40.8 
Agriculture exports  2,507.2  2,356.1  2,437.9  2,597.4  2,621.5  2,595.5  
Share of agriculture exports (%)  7.59 5.66 5.30 4.75 3.11 1.57 
Rum imports  11.7 9.7 10.6 10.9 9.6 9.6 
Agriculture imports  6,558 .4 6,553 .4 6,961 .5 6,887 .4 6,563 .9 6,585 .4 
Share of agriculture imports (%)  0.18 0.15 0.15 0.16 0.15 0.15 
Source:  Data provided by the  authorities.  
4.1.3.3   Domestic support  
4.22.   Data provided by the authorities show that the percentage of agriculture -related allocation in 
the budget increased from 1.5% in 2012 to 2.1% in 2015, then declined to 1.3% in 2017 (Table  4.5). 
Table 4.5 Agriculture budget allocations, actual agriculture expenditures, and national 
budget allocations, 2012 -17 
 2012  2013  2014  2015  2016  2017  
Agriculture b udget allocation s 
(TTD million)  842.4  851.9  777.7  1360.2  1211.4  752 
Actual agricultural e xpenditure s 
(TTD million)  717.1  693.7  514.4  947.5  857.2  .. 
National budget allocation s 
(TTD billion)  54.6 58.4 61.398  63.4 56.5 55.5 
Percentage : agriculture b udget 
allocation of national b udget  (%) 1.54 1.45 1.26 2.14 1.47 1.35 
.. Not available.  
Source:  Data provided by the authorities.  
4.23.   A number of investment incentives have been provided to assist local farmers to overcome 
the major challenges in the agriculture sector (Table A 4.1). Most incentives are a continuation of 
those under the  Agriculture Incentive Programme (AIP), which was approved by Cabinet in 2011. 
They take the form of percentage rebate s on the cost of purchasing inputs, investing in machinery, 
and improving irrigation systems and soil, as well as product -specific subsidi es. The incentives cover 
the following areas:  
a. purchase by farmers and fishermen of vehicles, machinery, and equipment;  
b. adoption of good agricultural practices, and soil conservation methods;  
c. land preparation , by encouraging the clearing of unproductive lan d; 
d. encouraging the establishment or rehabilitation of crops such as citrus fruits, cocoa, coffee, 
coconuts, and rice;  WT/TPR/S/388 • Trinidad and Tobago  
 
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  e. promoting the establishment and management of greenhouses and shade houses for the 
vegetable sector;  
f. assisting the reduction of pesticide  residues in crops;  
g. encouraging the development of the livestock sector , including cattle, goat s and sheep, 
pigs, poultry, and rabbits;  
h. post-harvest and marketing assistance , to increase the value of farmers' output;  
i. agro processing; and  
j. soil amelioration , for example by assisting fertilizer intake and efficiency, and reducing 
fertilizer cost s. 
4.24.   The Government also continues to impose minimum guaranteed prices, which were set in the 
AIP and are not adjusted for season or year. Minimum guaranteed prices appli cable in 2018 are 
listed in Table 4.6 . The authorities stated that minimum prices have not , in practice , been applied 
to cocoa, coffee, or copra.4 
Table 4.6 Minimum guaranteed prices, 2018  
(TTD/ kg) 
Commodity  Price  Note  
Cocoa 
19.00  The authorities stated that , currently, cocoa farmers receive an average market 
price of between TTD  30 and 35 per kg for dry beans  
Coffee  
12.00  Central Statistical Office data shows that there has not been any commercial 
coffee production from the 2nd quarter of 2016 to end -2017. However,  minimal 
production continues in  two main areas – Rio Claro and Gran Couva  - where 
farmers receive , on average , TTD 7.50 per kg  
Rice grade I  2.99  
Rice grade II  2.86  
Rice grade III  2.09  
Rice seed  2.99  
Milk 1.50 The price for milk on the market can be as high as TTD 3.85 per kg  
Copra  5.00  
Source:  MALF.  
4.25.   Price effects of these programmes vary by commodity. For example , some researchers  found 
that cocoa prices were set according to international prices, and the effect of this minimum 
guaranteed price on cocoa producers was minimal. For rice, the National Flour Mills (51% owned by 
the State) receives all paddy  rice from farmers, who are paid minimum guaranteed prices by the 
Government. The guaranteed prices, which were set considerably higher than international prices, 
resulted in a relatively high level of support to rice producers.5 
4.26.   The Agricultural Developme nt Bank (ADB) specializes in providing low -interest loans to 
farmers: in 2018, instead of the market rates of 7.5%, it provided loans with an interest rate of 
between  3.5% and 5%.6 Annual lending by the ADB has been fluctuating, and reached 
TTD 120 million  in 2017 (Chart 4. 5). 
                                                
4 The authorities stated that no production figures were recorded for copra in 2017.  
5 IDB (2018), Analysis of Agricultural Policies in Trinidad and Tobago . Viewed at: 
https://publications.iadb.org/bitstream/handle/11319/8881/Analy sis-of-Agricultural -Policies -in-Trinidad -and-
Tobago.pdf?sequence=1&isAllowed=y . 
6 ADB online information. Viewed at: http://www.adbtt.com/lending -rates/ . WT/TPR/S/388 • Trinidad and Tobago  
 
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  Chart 4.5 Annual lending by the ADB, 2012 -17a 
(TTD) 
 
a Fiscal years.  
Source:  Data provided by the authorities.  
4.27.   Furthermore, the Government has been applying tax incentives to the agriculture sector. 
Since 1 January 2016, agricultural inputs (including approved vehicles, approved fishing vessels and 
equipment, and approved chemicals and pest control items) have been exempt from all duties and 
taxes. Also since 2016, the land and bui lding tax rate for agriculture has been 1%, while for 
commercial and industrial properties it st ands at 5% and 6%, respectively.  
4.28.   Trinidad and Tobago continue s to use funds provided by the E uropean Union to implement its 
National Adaptation Strategy, with a  view to facilitating its sugar cane farmers in dealing with the 
loss of preferential access to EU markets. The Strategy contains infrastructure development , 
environmental programmes, and training programmes, to assist farmers in chang ing from sugar 
produc tion to producing other crops or to non -agricultural activities. In 2014, the Cabinet agreed to 
a compensation package of TTD  130 million to former sugarcane farmers , in three tranches. In 2015, 
the first tranche of TTD  27 million was paid.7 
4.29.   Notwithstandin g all the support measures, the number of persons engaging in agriculture and 
agro-processing continued to decline. The Government , thus, set up an agricultural financial support 
programme, with grants for new and existing farmers of up to TTD  100,000 per person. The 
2018 budget allocated TTD  20 million to implement this programme.8 The authorities indicate d that, 
in the first year, priority would be directed to, inter alia , the introduction of energy -saving and 
labour -saving technology and efficiency impro vements; the acquisition of specialized equipment; 
and value -added initiatives, particularly those related to on -farm improvements to support the 
packaging of primary production. Priority is also given to: brand building; packaging; space 
expansion; resear ch and product development; protection of intellectual property; and food safety 
compliance requirements .9 
                                                
7 The Government decided to reduce the second and third tranches by 53%, and asked farmers to 
accept a one -off payment for the combined tranches.  
8 MOF (2017), Budget Statement 2018 , October.  
9 MALF. Viewed at:  https://agriculture.gov.tt/wp -content/uploads/2018/10/Agricultural -Finance -
Support -Programme -Agro-Incentive -Governance -Framework -and-Form.pdf . 
172,332,281 
140,283,552 
97,823,357 
125,164,144 
110,578,379 
120,064,891 
2 0 1 2 2 0 1 3 2 0 1 4 2 0 1 5 2 0 1 6 2 0 1 7Chart 4.5 Annual lending by the ADB, 2012 -17a
(TTD)
a   Fiscal years.WT/TPR/S/388 • Trinidad and Tobago  
 
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  4.1.3.4   Support levels  
4.30.   In 2015, Trinidad and Tobago notified to the WTO that, during the period 2008 -13, it did not 
provide any export subsidies on agricultu ral products.10 
4.31.   Trinidad and Tobago made its most recent notification to the WTO on agriculture subsidies in 
2015, covering the period from financial year  (FY) 2007/08 to FY2012/13.11 According to the 
notification, all support measures were in the Green Box category. Most were used for infrastructural 
services, i.e. expenditures on drainage irrigation services, access roads, market infrastructure; and 
on research, pest and disease control, extension and advisory services , and inspection services 
(Chart  4.6). 
Chart 4.6 Agriculture subsidies, FY2007/08 -2012/13  
(TTD '000)  
 
Source:  WTO notifications.  
4.32.   The value of domestic support fell significantly, from TTD  263.7 million in FY2008, to 
TTD 107.1 million in FY2013. Domestic support as a percentage of agricultural GDP decreased  from 
almost half (48 .0%) in 2008 to 1 6.8% in 2013 (Table 4. 7). In particular, expenditure on research, 
pest and disease control, extension and advisory services and inspection services fe ll considerably 
(Chart 4. 6). 
Table 4.7 Domestic support to agriculture, 2008 –13 
(TTD million, fiscal year, 1 October -30 September)   
2008  2009  2010  2011  2012  2013  
Total domestic support  263.7  87.8 67.7 127.7  127.6  107.1  
Agricultural GDPa 
549.9  534.2  554.5  598.2  599.9  636.7  
Domestic support as % of agricultural GDP  48.0 16.4 12.2 21.3 21.3 16.8 
Source:  Notification to the WTO Committee on Agriculture, and information provided by the authorities.  
4.33.   The Government considers that its support to the agricultural sector is in the Green Box, in 
accordance with the criteria set out in Annex 2  of the  Agreement o n Agriculture. Notably, according 
to the authorities:  
a. support is provided through a public funded  government programme; and  
                                                
10 WTO document, G/AG/N/TTO/13, 12 August 2015.  
11 WTO document, G/AG/N/TTO/14, 13 August 2015.  
050,000100,000150,000200,000250,000300,000
2007/08 2008/09 2009/10 2010/11 2011/12 2012/13  Payments for relief from natural disasters
  Infrastructural services - drainage irrigation services, access roads, market infrastructure
  Marketing and promotion services
  Research, pests and disease control, extension and advisory services and inspection servicesChart 4.2   Agriculture subsidies, 2007/08 -2012/13
(TTD '000)
Source:  WTO notifications.WT/TPR/S/388 • Trinidad and Tobago  
 
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  b. support does not involve transfers from consumers and does not have the effect of 
providing price support to producers.12 
4.1.3.5   Land policy  
4.34.   The authorities state d that, as a small island developing state (SIDS), land resources are both 
scarce and ecologically fragile.13 The State, which owns about half of all agricultural land in the 
country, does not engage in production: it rents land for agricultural activities. All lands available for 
lease are publicly advertised in daily newspapers , and interested parties are invited to submit 
applications. The State leases agricultural land under a Standard Agricultural Lease, which utilizes a 
lease rental structure based on parcel size and farming activity, with the intention of discouraging 
under -utilization or abandon ment of state agricultural lands.14 Non-Trinidad and Tobago nationals 
may rent land , subject to the provisions of the Foreign Investment Act.15 
4.35.   Under a Head Lease from the Commissioner of State Lands, the Estate Management and 
Business Development Company Ltd (EMBD)  has seven parcels of state land for sub -let to individuals 
and companies with the approval of the Cabinet. The EMBD is responsible for the agricultural lan d 
that used to belong to Caroni.  
4.36.   The Government recognized the challen ges faced by farmers caused by insecurity of land 
tenure. To address the problem, three pieces of legislation were passed by Parliament in 2010: the 
Registration of Titles to Land Act, the Land Adjudication Act, and the Land Tribunal Act. In 2012, the 
authorities stated that "the necessary amendment Bills have been prepared and passed by the 
Legislative Review Committee, and the revised legislation is expected to be brought to Parliament 
at the earliest opportunity".16 In January 2011, a policy decision was taken to delink tenure from 
access to the incentive programme for qualified farmers (i.e. bona fide  farmers that were already 
awaiting receipt of their lease documents from the office of the Commission of State Lands, and 
farmers cultivating for five years  or more ). In 2012, the Government also launched the Land 
Information System of Trinidad and Tobago (LISTT), which was subsequently replaced by a more 
comprehensive programme, the Spatial Information Management System (SIMS). SIMS has 
captured information on 80% of all state land parcels. In 2018, the MALF  launched  an Electronic 
Document Management System (EDMS) to digitize all  of them.  
4.37.   The Government has been trying to increase the scale of farms , through the Commercial 
Large Farms Programme (CLFP). This Programme established large (100 –300 acres) agricultural 
holdings in the form of public -private partnerships  (PPPs) . Land arrangements under the CLFP are 
subject to the same terms and conditions as the  Standard Agricultural Lease. The CLFP currently 
targets  the production of vegetables, rice, root crops, fruit and livestock under PPP arrangements. 
The Government does not make any financial contribution to the partnership under the CLFP. 
Instead, it provides land rights (mainly for the land previously used fo r sugarcane production) and 
the necessary infrastructure (access roads, electricity, and drainage), and NAMDEVCO purchases 
output from these farms.  Currently, seven farms are operational and five are either non -operational 
or at a minimal level of operatio n. 
4.2  Fisheries  
4.2.1   Overview and trade performance  
4.38.   The authorities indicate d that the fisheries sector account s for a very small share of GDP and 
employment. Production volume remained relatively stable during the review years. According to 
the authorities, the ex -vessel value  of the marine wild -caught landings from Trinidad's (excluding 
Tobago's) commercial fleet was estimated to be around TTD  200 million. The country's commercial 
                                                
12 WTO document, WT/TPR/M/260/Add.1, 20 April 2012.  
13 WTO document, WT/TPR/M/260/Add.1, 20 April 2012.  
14 A lease confers on the lessee a legal estate in land enforceable by law.  
15 A non -Trinidad and Tobago national can acquire land of up to one acre for residential purposes and up 
to five acres for trade or business without obtaining a licence; if a licence is required, it is granted by the 
President, in accordance with the Act, an d is subject to conditions established by the Ministry of the Attorney 
General and Legal Affairs. According to the authorities, the usual annual rental fee is 2% of the market value 
for an agricultural licence, 5% for a business/trade licence, and 3.5% for  a residential licence.  
16 WTO document, WT/TPR/M/260/Add.1, 20 April 2012.  WT/TPR/S/388 • Trinidad and Tobago  
 
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  fishing fleet is estimated to comprise more than 2,000 vessels and  there are  some 4,300 fishermen. 
The authorities estimate that at least 316 persons are involved in the fish post -harvest  sector (for 
Trinidad alone) , including vendors, wholesale truckers, seafood retailers, processors and exporters, 
and at least 514 persons (for Trinidad alone) are either hustlers at the fish landing sites, fishing boat 
and net builders/repairers, electric ians, mechanics, welders , or others involved in refrigeration. 
Marine fisheries dominate the fisheries sector, while aquaculture makes a minor contribution  
(Table  4.8). 
Table 4.8 Fisheries global production, 2 010-16 
(Tonnes)   
2010  2011  2012  2013  2014  2015  2016  
Aquaculturea 14 6 7 8 5 24 11  
Miscellaneous freshwater fish  7 2 2 2 2 2 2  
Tilapia and other cichlids  6 4 4 5 3 22 9  
Freshwater crustaceans  1 0 0 0 0 0 0 
Capture  13,930  13,115  12,063  13,138  13,201  13,266  13,027   
Crabs, sea -spiders  112 51 0 50 50 50 50  
Lobsters, spiny -rock lobsters  60 126 46 21 21 21 21  
Shrimp, prawns  879 787 687 687 687 687 687  
Herring, sardines, anchovies  5 16 1 1 1 1 1  
Marine fish , not identified  6,180  6,214  5,873  6,078  6,091  6,067  6,070   
Miscellaneous demersal fish  2,365  2,121  1,992  2,565  2,565  2,565  2,565   
Miscellaneous pelagic fish  270 319 248 267 255 278 275  
Sharks, rays, chimaeras  690 648 538 525 529 518 499  
Tuna, bonitos, billfish  3,365  2,832  2,678  2,944  3,002  3,079  2,859   
Squid, cuttlefish, octopuses  4 1 0 0 0 0 0 
Total  production  13,944  13,121  12,070  13,146  13,206  13,290  13,038  
a Aquaculture specifically refers to output from aquaculture activities, which are designated for final 
harvest for consumption. Currently , harvest for ornamental purposes is not included.  
Source:  FAOStat.  
4.39.   Trinidad and Tobago is a net fish importer , and the import value has been, in general, 
increasing during the review period. The import value of frozen fish (excluding fillets and meat) more 
than doubled, accounting for 23% of all fish imports in 2016. Other important fish imports are 
dried/salted/smoked fish (22% of all fish imports), and prepared or preserved fish (19%) 
(Chart  4.7). 
4.40.   The export value of fisheries products has been increasing significantly (Chart 4. 8); the export 
value of fresh or chilled fish (excluding fillets and meat) rose sharply from USD  4.5 million in 2010, 
to USD  22.9 million in 2016. Its share in total fisheries exports also increased from 43% to 86% 
during the same period. The export of processed fish, on the contrary, has been contracting.  
4.41.   According to the authorities,  the main sources of imports for fisheries products are the United 
States and Venezuela, and the main export markets for fisheries products  are the United State s, 
Canada, and CARICOM members.  WT/TPR/S/388 • Trinidad and Tobago  
 
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  Chart 4.7 Fisheries imports  
(USD '000)  
 
Source:  FAOStat.  
4.42.   The marine fisheries sector in Trinidad and Tobago is mainly artisanal. The artisanal fleet 
accounts for about 96% of the total  fleet, while semi -industrial and industrial vessels account for 
the rest. Artisanal vessels operate in inshore and coastal waters, and are engaged in fishing by 
using, inter alia, gillnets, fish traps, trolling, and manually operated demersal and pelagic longlines 
and trawls. The semi -industrial fleet operate s in the offshore areas and in the Exclusive Economic 
Zone (EEZ), engaging primarily in mechanized pelagic and demersal longlin ing, gillnetting , and fish 
trapping. The size of the industrial fleet is restricted, and the time and area of operation are also 
regulated. Regarding the non -artisanal longliners, which target tuna, the Fisheries Division under 
the MALF authorizes (via the  issuance of a licence) vessels to operate in the International 
Commission for the Conservation of Atlantic Tuna s (ICCAT ) Convention Area , in accordance with the 
ICCAT, which is an international body managing tuna in the Atlantic Ocean, to which Trinidad a nd 
Tobago has been a contracting party since 1999. No licence fees are required. Regarding non -
artisanal and artisanal trawlers, only those in operation as at 1 September 2013, and inspected in 
the last quarter of 2013 by the Fisheries Division , are "recog nized" participants in trawl fishery in 
Trinidad and Tobago. Since then, no other vessels have been approved by the Fisheries Division to 
undertake  trawl fishery. Under trawl regulations, where and when trawlers are permitted to operate 
is specified.  
4.43.   Curre ntly, there are no total allowable catch limits , except for species managed by the ICCAT  
(i.e. North Atlantic swordfish and blue and white marlin).  
010,00020,00030,00040,00050,00060,000
2010 2011 2012 2013 2014 2015 2016WT/TPR/S/388 • Trinidad and Tobago  
 
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  Chart 4.8 Fisheries exports  
(USD '000)  
 
Source:  FAOStat.  
4.2.2   Policies  
4.44.   The policy goal of the fisheries sector is to maintain the sustained development and 
management of its fisheries resources, and the protection of its ecosystems. To ensure this , Trinidad 
and Tobago ratified:  
a. the United Nations Convention on the La w of Sea;  
b. the Convention on International Trade in Endangered Species of Wild Fauna and Flora  
(CITES) ; 
c. the Rio Declaration;  
d. the ICCAT ;  
e. the Convention on the Conservation and Management of Straddling Fish Stocks and Highly 
Migratory Fish Stocks;  
f. the Conve ntion on Biological Diversity; and  
g. the Convention for the Protection and Development of the Marine Environment of the 
Wider Caribbean Region.  
4.45.   The Agreement to Promote Compliance with International and Management Measures by 
Fishing Vessels in High Seas has not yet been ratified by Trinidad and Tobago. A proposal for signing 
was submitted to the Cabinet in August 2017, and is awaiting a decision.  
4.46.   The Fisheries Division aims to facilitate the development of the fisheries sector by: registering 
and issuing licenses; identifying and designating subsidies and tax exemptions; and providing 
05,00010,00015,00020,00025,00030,000
2010 2011 2012 2013 2014 2015 2016Chart 4.8   Fisheries exports, 2010 -16
(USD '000)
Source:  FAOStat.WT/TPR/S/388 • Trinidad and Tobago  
 
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  training and information services.17 Fishing vessels must be registered  with the Fisheries Division in 
the Record of Trinidad and Tobago Fishing Vessels. They include vessels fishing commercially on the 
high seas, and vessels fishing commercially within the EEZ of Trinidad and Tobago. The Maritime 
Services Division of the Ministry of Works and Transport is the competent authority for the 
registration of vessels, including fishing vessels. Fish farmers engaging in aquaculture must also be 
register ed. 
4.47.   Relevant legislation governing fisheries management in Trinidad and Tobago includes:  
a. the Fisheries Act (Chapter 67:51), amended most recently in 1975, applies to all rivers, 
tidal w aters, and the 12 -mile territorial sea, and empowers the minister in charge of 
fisheries to make regulations regarding fishing gear in terms of mesh size, species that 
may be caught and sold, fishing seasons, and fishing area;  
b. the Archipelagic Waters and E xclusive Economic Zone Act of 1986 provides for the 
declaration of archipelagic waters, territorial sea and the establishment of a 200 -mile EEZ. 
It also provides for the conservation and management of the living resources within the 
EEZ, the determination of the total allowable catch ( TAC) for each fishery in the EEZ, and 
the proportion to be harvested ; 
c. the Fisheries (Control of Demersal (Bottom) Trawling Activities ) (Amendment) Regulation , 
1998 specifies the zoning regime for the trawl fleets operating in the designated locations : 
d. the Fisheries (Conservation of Marine Turtles) Regulation , 1994 specifies that semi -
industrial and industrial trawl vessels are required to be equipped with turtle excluder 
devices ; and  
e. the Fish an d Fish Products Regulation 2003 of the Food and Drug s Act sets SPS standards 
in the fisheries sector (Section 3.3).  
4.48.   Other relevant legislation includes the Fishing Industry (Assistance) Act (Chap 85:03), most 
recently amended in 1958; and the Control of Importation of Live Fish Act (Chap . 67:52), 1950.  
4.49.   Currently, there is no legal requirement for the registration of fishers or the licensing of 
Trinidad and Tobago fishing vessels. The Archipelagic Waters and Exclusive Economic Zone Act 
stipulates, inter alia,  the licensing of foreign fish ing vessels to facilitate access to the fisheries 
resources within the waters under the jurisdiction of Trinidad and Tobago. Currently, no foreign 
fishing vessels are licensed to fish in Trinidad and Tobago's waters. The authorities indicate d that a 
draft Fisheries Management Bill has been prepared and is currently being finalized; it is expected to 
replace the Fisheries Act , 1916, and makes provisions for, inter alia , the registration of fishers and 
the licensing of Trinidad and Tobago fishing vessels in accordance with international best fisheries 
management practice.  
4.50.   The Government has been trying to facilitate the development of the fisheries sector, through 
border protection and domestic support. The authorities state d that managing and maintaining the  
sustainability of the fisheries sector is complex; the main challenges facing the authorities include: 
outdated fisheries legislation and institutional structure s for effective fisheries management and for 
compliance with international obligations; the la ck of human and financial resources; the lack of 
capacity in fisheries monitoring, control, surveillance, and enforcement; the open access nature of 
fisheries; inadequate data and information for fisheries management decision -making; and 
inadequate collabo ration and cooperation among a range of national regulatory agencies with a role 
in fisheries management. The authorities consider that the draft Fisheries Management Bill will 
enable Trinidad and Tobago to meet its international obligations and to manage fisheries in a manner 
that is in accordance with international best practices.  
4.51.   Between October 2016 and October 2018, several initiatives were embarked upon to address 
illegal, unreported and unregulated (IUU) fishing. These include: submitting draft updat ed fisheries 
management legislation in June 2018; and establishing a Cabinet -appointed committee to finalize 
                                                
17 MALF online information. Viewed at: https://agriculture.gov.tt/work -themes/fisher ies-registration -
licenses -transfers/ . WT/TPR/S/388 • Trinidad and Tobago  
 
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  and initiate the implementation of an Action Plan to address IUU fishing in the ports and waters 
under the jurisdiction of Trinidad and Tobago. The  MALF , through its Fisheries Division, regularly 
participates in meetings of the Western Central Atlantic Fishery Commission and the Caribbean 
Regional Fisheries Mechanism Regional Working Group on IUU Fishing. Trinidad and Tobago also 
participate d in the FAO Regional Port State Measures (PSMA) and complementary international 
instruments and regional mechanisms with a view to preventing, deterring, and eliminating IUU 
fishing. In September 2018, a national workshop was held to identify current efforts, gaps  and needs 
in relation to improved fisheries monitoring, control, surveillance and enforcement.  
4.2.3   Border measures  
4.52.   The simple average MFN tariff rate on fish and fishery products was 29.6% in 2018, higher 
than both the average tariff on non -agricultural tarif f lines (7.3%), and that on agricultural tariff 
lines (17.9%).  Tariff rates range from zero  to 40%, with 17% of fishery tariff lines duty free.  
4.53.   Import licen ces are required for: chilled/frozen seafood (with a weight of more than  10 kg) 
for commercial purpo ses; raw materials (fish and fish products) for processing; and ornamental fish 
used for personal purposes. Based on recommendation s by the Fisheries Division, the MTI issues 
the import licen ces. Seafood up to 10kg, and fish used for scientific research re quire permission 
from the Fisheries Division. The authorities also indicated that, as at December 2017, fish from St. 
Vincent and the Grenadines were not allowed to be imp orted into Trinidad and Tobago.  
4.54.   Due to their threatened/overexploited status, and in accordance with international fisheries 
management recommendations/measures, importation of the following species is not approved: 
grouper (yellowfin grouper, Atlantic goliath grouper, and Nassau grouper), and shark ( bigeye 
thresher shark, oceanic whitetip  shark, hammerhead shark, and silky shark). For the same reason, 
exportation of the following species is not approved: queen conch; all marlin species; grouper 
(yellowfin grouper, Atlantic goliath grouper, and Nassau grouper) ; and shark ( bigeye thresher shark, 
oceanic whitetip shark, hammerhead shark, and silky shark).  
4.55.   Export licen ces are required for: live ornamental and food fish; fish used for scientific 
research; and ornamental fish used for personal purposes. The MTI issues export lice nces based on 
recommendations by the Fisheries Division.  The authorities state d that, as Trinidad and Tobago is a 
contracting party to the ICCAT, it has an annual 125 -tonne export quota for swordfish.  According to 
the authorities, the export  of shrimp to t he United State is not approved , since Trinidad and Tobago 
has not been certified by the U.S. Department of State as having a comparative sea turtle monitoring 
programme in shrimp trawl fishery.  
4.2.4   Subsidies and exemptions  
4.56.   Incentives are given to support fish ing operations consistent with the sustainable use of 
fisheries resources (Table 4. 9). 
Table 4.9 Major investment incentives to the fisheries sector  
(% of cost and TTD)  
Programme  Description  
Tax incentives for the commercial 
fishing sector  A person importing any fishing boat, marine engine, fishing 
net, line or other capital equipment solely for the purpose 
of carrying out the business of commercial fishing may 
apply to the minister responsib le for marine exploration for 
a waiver of the entry tax on the imported goods.  
Programme  Rebate  
Marine fisheries   
Gasoline  12 c/litre  
Diesel  10 c/litre  
Engine oil  75 c/litre  
Replacement of pirogues  25% of cost up to a maximum of TTD  5,000  
Used multipurpose vessel  10% of cost up to a maximum of TTD  50,000  
New multipurpose vessel  20% of cost up to a maximum of TTD  100,000  
Upgrade d commercial vessel (HACCP)  25% of cost up to a maximum of TTD  10,000  WT/TPR/S/388 • Trinidad and Tobago  
 
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  Programme  Description  
Approved packaging material 
(per year)  50% of cost up to a maximum of TTD  15,000  
Approved post -harvest equipment  50% of cost up to a maximum of TTD  30,000  
Aquaculture   
New ponds  25% of cost up to a maximum of TTD  25,000  
Alternative culture system construction  25% of cost up to a maximum of TTD  25,000  
Pond rehabilitation  100% of cost up to a maximum of TTD  7,000  
Water pumps, hoses and accessories  50% of cost up to a maximum of TTD  20,000  
Aeration equipment  50% of cost up to a maximum of TTD  10,000  
PVC pipes, valves, fittings and 
accessories  25% of cost up to a maximum of TTD  10,000  
Harvesting gear and equipment, etc.  25% of cost up to a maximum of TTD  10,000  
New well, dam, reservoir, pond , etc. 
construction  25% of cost up to a maximum of TTD  25,000  
Well and dam , etc. refurbishment  15% of  cost up to a maximum of TTD  15,000  
Source:  MOF, Major Investment Incentives in Trinidad and Tobago . Viewed at: 
http://www.financ e.gov.tt/wp -content/uploads/2017/08/MOF -Investment -Incentives -in-Trinidad -
and-Tobago -web.pdf . 
4.3  Mining and Energy  
4.57.   The oil and gas sector, which has been the main pillar of Trinidad and Tobago's economy 
(Section 1), suffered a dramatic decline over the Review  period , largely due to falling energy prices  
and supply shocks ; this was followed by a mild recovery. In 2011, the sector accounted for 44.8% 
of GDP, but this plummeted to 18.8% by 2016. Likewise, its share in government revenue shrank 
from 57.6% to 14.6%  over same period . Over the whole review period, oil and gas has remained an 
important export sector, although its share in total merchandise exports fell slightly from 82.9% in 
2010 to 78.0% in 2016; this also indicates that the sector's decline was not a ccompanied by a 
diversification of the export basket (Table 4.10) . The authorities indicated that the energy sector's 
contribution to employment is around 2.4%.  
Table 4.10 Contribution of the energy sector to the economy, 2010 -16 
(%) 
 2010  2011  2012  2013  2014  2015  2016  
Share of GDP  40.0 44.8 41.4 37.2 34.2 24.8 18.8 
Exploration and production  23.3 23.6 23.3 22.7 19.1 11.7 8.2 
Refining  7.1 7.9 6.3 4.2 4.9 2.9 2.9 
Petrochemicals  7.2 7.7 6.9 5 5.6 6.0 5.0 
Other  4.4 5.5 4.9 5.3 4.6 4.3 2.8 
Share of government 
revenue  51.8 57.6 54 50.4 48.2 32.6 14.6 
Oil and gas exploration and 
production  43.2 33.5 32.1 28 29.1 18.4 2.3 
Other taxes  8.5 24.1 21.9 22.4 19.1 14.2 12.3 
Share of goods exports  82.9 84.3 80.8 79.8 83.5 78.6 78.0a 
Extracted  12.2 10.2 7.7 7.4 7.9 5.4 5.0a 
Refined  49.1 45.6 46.4 48.6 48.2 41.5 44.7a 
Processed  21.6 28.5 26.7 23.8 27.4 31.7 28.3a 
a Covers the period January –September 2016.  
Note:  Other taxes include: corporation tax, withholding  tax, royalties, oil impost, unemployment levy, 
excise duties and receipts from signature bonuses for the award of product -sharing contracts.  
Source:  Information provided by the Central Bank, based on Annual Economic Surveys.  
4.58.   Over the period 2011 -17, crude  oil and natural gas production has been on a declining trend, 
with crude oil production only picking up slightly in 2017. Proved reserves of natural gas , and 
particularly crude oil, dropped significantly over the period. Utilization rates of natural gas for 
petrochemicals and electricity generation remained relatively static, while there was a big drop in 
the use of natural gas  for liquefied natural gas (LNG)  (Table 4. 11). WT/TPR/S/388 • Trinidad and Tobago  
 
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  Table 4.11 Petroleum and natural gas production and reserves, 2011 -17 
  2011  2012  2013  2014  2015  2016  2017  
Exploration  Km 11 17 11 12 17 20 10 
Crude oila         
Production  '000 bbl/day  92 82 81 81 79 71 72 
Imports  '000 bbl/day  83 57 80 57 78 101 88 
Exports  '000 bbl/day  39 31 34 33 31 28 27 
Proved reserves  Billion bbl  830 830 830 830 728 243 243 
Natural gas          
Production  Million m3/day 118 117 117 115 109 94 95 
Utilizationb Million m3/day 109 108 109 107 101 88 90 
 Of which          
  Petrochemicals Million m3/day 33 32 31 31 32 29 30 
  Electricity 
generation  Million m3/day 9 9 9 9 8 8 7 
  LNG Million m3/day 61 62 63 62 56 47 49 
Proved reserves  Trillion m3 365 361 337 317 317 292 261 
a Also includes condensates . 
b Utilization refers  to gas sales.  
Source:  Information provided by the authorities.  
4.59.   In 2017, the main market for crude oil exports was Peru (86%), followed by the United  States 
(14%). In the same year, the United States was the main destination (29%) for refined petroleum 
products, followed by St. Eustatius (9%) and other West Indian countries (particularly Guyana, 
Barbados, Jamaica and Puerto Rico). Chile was the most important destination for gas exports 
(25.2%), with the United States, Puerto Rico and the Dominican Republic  as other significant 
destinations. Over 90% of gas exports were in the form of LNG.18  
4.60.   For non -associated natural gas, as at end -December 2017, the reserves -to-production ratio 
was 9.2 years. With respect to crude oil and condensate, in 2012, the most rece nt year an audit was 
conducted, the reserves -to-production ratio was 7.2 years.  
4.3.1   Institutional, policy and legal framework  
4.61.   The Ministry of Energy and Energy Industries (MEEI) (previously the Ministry of Energy and 
Energy Affairs) is responsible for policy f or the exploration and extraction of hydrocarbons and 
minerals, as well as for alternative energy.19 
4.62.   Various official documents set out the challenges facing the energy industry, and the policy 
actions that need to be taken to address them; these include: t he MOF annual reviews of the 
economy; Vision 2030 (Section 2); the Gas Master Plan 2014 -2420; and the MEEI's 2015 -20 Work 
Plan. In addition to reduced revenue, as mentioned above, major challenges include: the impact of 
emerging shale gas production in the United States, Trinidad and Tobago's key export partner21; the 
                                                
18 UNSD Comtrade Database.  
19 As noted in the previous Review, additional operational responsibilities include: issuing licences for 
exploration and production, and for production -sharing contracts between state -owned an d private -sector 
companies; regulating and monitoring oil and mining companies' work programmes and equipment; regulation 
and monitoring, including licensing, of storage facilities, pipelines, and marketing of petroleum products and 
operations; regulating and monitoring leases and licences for mining; and assisting with the National Oil Spill 
Contingency Plan.  
20 Gas Master Plan 2014 -24. Viewed at: http://www.energy.gov.tt/wp -
content/uploads/2018/10/Trinidad -and-Tobago -Gas-Master -Plan_2014 -2024.pdf . 
21 MEEI online information. Viewed  at: http://www.energy.gov.tt/our -business/oil -and-gas-industry/ ; 
and MOF Review of the Economy 2017 . Viewed at: https://www.finance.gov.tt/wp -
content/uploads/2017/10/Review -of-the-Economy -2017-for-web.pdf . WT/TPR/S/388 • Trinidad and Tobago  
 
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  global trend towards encouraging alternative energy sources; a prolonged natural gas shortage on 
the domestic market22; and lower domestic gas reserves and production.23 
4.63.   The Government has, or int ends to, address these challenges through: fiscal reform in order 
to boost government revenue (see below);  sale of assets in Phoenix Park Gas Processors Limited 
(see below); diversification of production further down the gas value chain (by promoting local  use 
of complex petrochemicals (e.g. melamine from the ammonia chain) to develop Trinidad and 
Tobago's manufacturing sector; determining policy on state participation in moving the downstream 
energy sector forward; mandating the National Gas Company (NGC) Group to pursue downstream 
project development; and reviewing the gas allocation strategy)24; working with companies and 
trading partners to supply natural gas needed for the domestic market25; and providing incentives 
to industry to maintain exploration act ivities, including new fields in deep water areas.26 A target 
has been set to have 10% of electricity supply from renewable energy sources by 2021. In this 
regard, there are plans to develop and operationalize instruments to promote investment in 
renewable energy technologies, such as feed -in tariffs and in centives.27 
4.64.   Renewed efforts are also being made to enhance local content, local participation and local 
ownership in the energy sector. The Permanent Local Content Committee (PLCC), which was first 
set up in 2004 and ceased operating in 201228, was reconstit uted in 2016 and its work plan was 
approved by Cabinet.29 The PLCC's primary mandate is to oversee and report on the implementation 
of the Local Content and Local Participation Policy Framework, 2004. Its major goals are: (a) 
increasing revenue to Trinidad and Tobago businesses, individuals and the State, through in -country 
activities, higher local inputs to the sector, and improved transparency on the tax liability of sector 
participants; (b) the transfer of know -how and technology to local companies and to  other sectors 
to support economic diversification efforts, by focusing efforts on improving the capacity and quality 
of goods and services that are transferable from energy to other sectors; and (c) enhancing the 
export potential of local goods and servic es providers by increasing their quality, capacity, 
sustainability, and international visibility. Cabinet has approved various concrete measures to be 
undertaken.  
4.65.   The legal framework for the petroleum sector in Trinidad and Tobago is mainly covered by 
the Petroleum Act, 1969 (last amended in 2014) and subsidiary regulations which include the 
Petroleum Regulations, 1970 (last amended in 2018) .30 The 2014 amendments to the Petroleum Act 
                                                
22 MOF Review of the Economy 2017 . Viewed at: https://www.finance.gov.tt/wp -
content/uploads/2017/10/Review -of-the-Economy -2017-for-web.pdf . As noted by the authorities, the natural 
gas shortage can be attributable to various factors, such as lower production in mature fields, no new gas finds 
coming o n-stream to increase production, the transitioning from single pipelines to hub operations, and 
increased demand due to the debottlenecking of various consumer facilities.  
23 Ministry of Planning and Development online information. Viewed at: 
https://www.planning.gov.tt/content/vision -2030.  
24 Speech by the Minister of Energy and Energy Industries. Energy Chamber Annual Conference 
Maximizing Value Through Collaboration . 22 January 20 17. MEEI 2015 -20 Work Plan.  
25 According to the Review of the Economy 2017 , negotiations are underway with Venezuela to supply 
natural gas; the Government has obtained a commitment from companies to invest in exploration and 
development programmes; and new discoveries are expected to boost domestic production. Viewed at: 
https://www.finance.gov.tt/wp -content/uploads/2017/10/Review -of-the-Economy -2017-for-web.pdf .  
26 Budget Statement 2018 . Viewed at: http://www.news.gov.tt/sites/default/files/BUDGET -STATEMENT -
2018.pdf . 
27 Ministry of Planning and Development online infor mation. Viewed at: 
http://www.planning.gov.tt/sites/default/files/Vision%202030 -
%20The%20 National%20Development%20Strategy%20of%20Trinidad%20and%20Tobago%202016 -
2030.pdf . The authorities indicated that a request for proposals has been issued to supply up to 130 MW of 
electricity generation from wind and/or solar photovoltaic to the national gr id, on a build, own and operate 
basis.  
28 MEEI online information. Viewed at: http://www.energy.gov.tt/wp -
content/uploads/2013/11/Local_Content_Policy_Fr amework.pdf . 
29 According to the authorities, the work plan is designed to assist the MEEI in managing its existing 
administrative framework and methodologies and/or improving them where they apply to local content and 
local participation. The PLCC uses the  definition of local content as stated in the Public Procurement and 
Disposal of Public Property Act, 2015, namely: "the local value added to goods, works or services measured as 
the amount of money or percentage of each dollar of expenditure remaining in Trinidad and Tobago after the 
production of the good or the performance of the work or service".  
30 Petroleum Act and subsidiary regulations. Viewed at: 
http://rgd.legalaffairs.gov.tt/Laws2/Alphabetical_List/lawspdfs/62.01.pdf . WT/TPR/S/388 • Trinidad and Tobago  
 
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  increased  the level of fines for offen ces under the Act. The 2018 amen dmen ts to the Petroleum 
Regulations  extended the scope of royalty payments to contractors under production -sharing 
contracts (see below).31 The Petroleum Taxes Act, 1974 governs the application of the Petroleum 
Profits Tax  (PPT)  and the Supplemental Petroleum T ax (SPT)  (see below).32 
4.66.   The Petroleum Regulations require licences to be obtained from the MEEI before petroleum 
exploration or production may be undertaken. Requirements to obtain such a licence are the same 
for foreign investors (once they have set up a l ocal subsidiary) as for local companies.  
4.67.   There are two frameworks for the production of crude oil and natural gas: the concessionary 
system and the production -sharing system. The principle of the concessionary licence system is that 
the State transfers its  ownership of resources in the subsurface to a commercial entity, often a 
partnership of companies. The entity obtains exclusive rights to extract crude oil and natural gas in 
a defined area for a limited time. If more than one company is assigned a licenc e to an area, the 
Government provides a joint operating agreement which states each partner's equity share. The 
concessionary system is implemented through the use of exploration and production licences. The 
production -sharing system is implemented through  the use of production -sharing contracts (PSCs). 
Under the PSCs, the Minister of Energy and Energy Industries pays taxes on behalf of the contractors. 
The State retains title to the petroleum, while the contractor carries all the risks and costs in return 
for a share of production. The proportion of production due to the State under a PSC is specified in 
the contract and can vary from year to year depending on the cost of production, output, prices and 
other factors.  
4.3.1.1   Fiscal regime  
4.68.   The only change to tax rat es applied to oil and gas companies over the review period was the 
establishment, in January 2018, of a uniform royalty rate of 12.5% of the value of crude produced 
and natural gas sold, for holders of exploration and production licences and PSCs. Prior to  that, 
royalties were paid at rates stipulated in the holder's licence or contract (royalty rates were either 
stated on a per unit or an ad valorem  basis). The purpose of this measure was to increase 
government revenue.33 
4.69.   Other taxes applicable to the energy sector remain unchanged (Box 4.1). However, 
negotiations between energy companies and the Government are ongoing for a new oil and gas 
fiscal regime, with the intention of providing attractive terms for investment in the sector while 
securing approp riate payment to the Government.34 In this regard, consideration is being given to 
reforming and extending the SPT, as well as reconciling and simplifying tax regimes applicable to 
exploration, production and production -sharing. Additionally, the MOF has re constituted the 
Permanent Petroleum Pricing Committee and has prepared legislation to address concerns about 
transfer pricing, and thus reduce tax leakages arising from profits being moved to other jurisdictions. 
It also envisages appointing a Tax Review C ommittee to make recommendations on capital gains 
tax and the treatment of signature and production bonuses.35 
                                                
31 Legal Notice No. 163 , amending  Regulation 61 of the Petroleum Regulations.  
32 Petroleum Taxes Act. Viewed at: 
http://rgd.legalaffairs.gov.tt/Laws2/Alphabetical_List/lawspdfs/75.04.pdf . 
33 Over the period under review, royalty revenues were as follows: TTD 2,604,019,984 in 2012; 
TTD 1,731,044,257 (2013); 2,389,053,359 (2014); 304,951,980 (2015); 404,502,880 (2016); 1,031,039,910 
(2017); and 1,686,289,142 (2018 year -to-date).  
34 IMF Country Report No. 18/285. Viewed at: http://www.sipotr a.it/wp -
content/uploads/2018/09/Country -Report -No.-18285 -TRINIDAD -AND-TOBAGO.pdf . 
35 Ernst and Young online information. Viewed at: https://www.ey.com/Publication/vwLUAssets/ey -
focus -on-the-trinidad -tobago -budget -2017/%24FILE/ey -focus-on-the-trinidad -tobago -budget -2017.pdf ; 
Speech by Minister of Energy and Energy Industries. Energy Chamber Annual Confer ence Maximizing Value 
Through Collaboration . 22 January 2017. MEEI 2015 -20 Work Plan.  WT/TPR/S/388 • Trinidad and Tobago  
 
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  Box 4.1 Energy -related taxes, 2018  
PPT. Levied at a rate of 50% (35% for deepwater production). Appli es to all oil and gas producers and refinery 
operators, and is applied on net profits from operations. The net profit is derived by deducting from the gross 
income all operating expenses, capital allowances and other allowable deductions. Tax incentives ap ply (Table 
A4.2).  
SPT. Imposed on income generated from crude oil production, net of royalties and over -riding royalties. 
It comes into effect when crude prices go over USD  50/bbl. Rates range from 0% to 65%, and increase as 
the price of crude oil increase s. They also vary for marine and land/deepwater operations, and depend, for 
marine operations, on whether the contract or licence was agreed before or after 1 January 1988. Lower SPT 
rates apply to new field developments. Tax incentives apply (Table A4.2).  
Royalty payments.  12.5% of the value of production. Applies to oil and gas companies, including contractors 
under PSCs.  
Petroleum Production Levy . Applied to producers of crude oil generating more than 3,500 bbl/day, as the 
lower of 4% of income from crud e oil, or their proportionate share of the subsidy. Serves as a partial 
contribution to the consumer fuel subsidy (see below).  
Petroleum impost: Levied on all crude oil and natural gas won and saved by licensees under the Petroleum 
Regulations, at rates de termined by the Minister of Energy and Energy Industries and issued in a Rating Order. 
The impost is calculated to cover the annual expenses of the MEEI.  
Unemployment Levy.  5% of the taxable profits of petroleum companies.  
Source:  WTO Secretariat, based on information provided by the authorities.  
4.70.   Various incentives remain in place for companies operating in the upstream sector, and to 
encourage renewable energy and the use of compressed natural gas (CNG) vehicles ( Table A4.2 ). 
4.3.1.2   Petroleum  
4.71.   The state -owned Pe troleum Company of Trinidad and Tobago (Petrotrin) is involved in 
exploration, production (both on -land and off -shore), refining, marketing and storage activities. 
Exploration and exploitation of oil is undertaken alone and through joint ventures. It has b een the 
owner and operator of the country's only refinery. Due to the decline in oil prices, which fell 
significantly by 2015, lower refinery margins, decreasing production, and various structural and 
governance problems, Petrotrin's financial situation ha s rapidly deteriorated. At the time of the 
previous Review, Petrotrin was reported to have made a loss of TTD 167 million on total revenue of 
TTD 25,942 million (for the year ending 30 September 2010). As at end -September 2018, the 
company was TTD  10.8 billion in debt, and owed the Government over TTD 2 billion net in taxes and 
royalties. Following an announcement in August 2018, a process of restructuring the company was 
initiated; the focus is on exploration and production, and the refinery operations are  being phased 
out. There is a new corporate structure, comprising a holding company, Trinidad Petroleum Holdings 
Limited, and four subsidiaries (Heritage Petroleum Company Limited, Paria Fuel Trading Company 
Limited, Guaracara Refining Company Limited, and  Petrotrin). Exploration and production will be 
conducted through the Heritage Petroleum Company. Terminalling operations will be undertaken by 
the Paria Fuel Trading Company. Guaracara Refining Company is the holder of the refinery operations 
assets. Petr otrin remains the manager of the non -core assets, and holds the debt of the previous 
enterprise. All oil produced is to be exported, and refined products will be imported. According to 
the authorities, Heritage Petroleum will be responsible for around 60% of domestic oil production, 
and Paria Fuel Trading will be responsible for imports of fuels.  
4.72.   The state -owned Lake Asphalt of Trinidad and Tobago (1978) Ltd. mines asphalt from Pitch 
Lake (a naturally -occurring surface deposit of asphalt located at La Brea) . It processes and then 
sells asphalt and other asphalt -related products, domestically and internationally.36 According to the 
authorities, the company operated at a profit during the period 2012 -15, and at a loss in 2016 and 
2017.  
4.73.   The state -owned National Petroleum Marketing Company Ltd (NP) is one of two companies 
licensed for the wholesale marketing of petroleum products in Trinidad and Tobago, and it owns the 
largest gas service station network in the country. The other licensed marketing company is the 
                                                
36 According to the authorities, Lake Asphalt has distributors in China, Germany, the United Kingdom, 
the United States, Nigeria, Japan, Ireland, and Brazil.  WT/TPR/S/388 • Trinidad and Tobago  
 
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  privately -owned United Independent Petroleum Marketing Company Ltd. (UNIPET). According to the 
authorities, NP currently has a 79% market share, and UNIPET, 21%. NP markets petroleum fuels, 
liquefied petroleum gas, CNG, and automotive speciality products t hat are delivered to the company 
by Petrotrin. The company also offers marine bunkering and aviation re -fuelling at its facility.  
4.74.   A petroleum subsidy and levy ha s been in place since the 1970s . According to the authorities, 
these subsidies were initially m eant to cushion the burden of high oil prices on consumers; over 
time, they were seen as a means for the population to benefit from the country's resource wealth 
and ensure low and stable consumer prices.  The subsidy is paid to the two petroleum marketing 
companies (UNIPET and NP), whenever the "reference price" (ex -refinery price + handling charges 
+ excise duties + wholesale margin) exceeds the "controlled consumer price" (retail price set by the 
MEEI) for the five petroleum fuels, petrol, kerosene, auto diesel and LPG.37 The wholesale margins 
and retail prices are fixed through the issuance of Gross Margin Orders under the Petroleum 
Production Levy and Subsidy Act. Since 2015, retail prices of petrol and diesel have been increased, 
as have gross margins fo r certain products.38 The consumer subsidy is partly paid for by a levy on 
producers of crude oil (the Petroleum Production Levy – see Box 4.1) and the remainder is paid by 
the Government. Fluctuations in domestic production and changes in oil prices can ha ve a significant 
impact on the size of the Government's contribution. Over the review period, subsidy claims ranged 
from TTD 0.61 billion to TTD 4.46 billion, with the Government responsible for paying between 65% 
and 86% of the subsidy (Table 4.12).  
Table  4.12 Petroleum subsidy claims, levy payments, government liability, 2012 -18 
FY Subsidy claims  
(TTD billion)  Levy payments  
(TTD billion)  Gov't. liability  
(TTD billion)  Gov't. share  
(%) 
2012 4.46 0.66 3.80 85 
2013 4.44 0.60 3.83 86 
2014 4.13 0.62 3.51 85 
2015 2.12 0.36 1.77 83 
2016 0.61 0.21 0.40 66 
2017 0.81 0.28 0.53 65 
2018 1.06 0.32 0.74 69 
Source:  Data provided by the authorities.  
4.3.1.3   Natural gas  
4.75.   Atlantic LNG, a largely privately -owned company,  produces  LNG and natural gas liquids from 
Trinidad and Tobago's natural gas fields. The liquefaction facility comprises four units (or trains) with 
a total capacity of 12 million tonnes per year of LNG and 30,000 bbl per day of natural gas liquids. 
Each unit/train  is owned by a consortium of companies (Table 4.13).  
4.76.   The LNG produced is exported under contractual arrangements, and the natural gas liquids 
are delivered to Phoenix Park Gas Processors Limited (PPGPL) (see below) for further processing and 
subsequent sal e under differing marketing arrangements. South America, North America and the 
Caribbean are the largest export destinations for LNG (Table 4.14).  
                                                
37 Online info rmation. Viewed at: 
https://sta.uwi.edu/conferences/11/cote/documents/Day%201/Panel%20 4%20 -
%20Energy%20Challenges/What_to_do_with_the_Petroleum_Fuel_Subsidy_Kyren_Greigg.pdf . 
38 The retail price of Super 92 RON has been successively increased, from TTD 2.70/l to TTD  4.97/l, over 
the period October 2015 -October 2018. The retail price of auto diesel was also successively increased, from 
TTD 1.50/l to TTD 3.41/l over the period October 2015 to October 2017. In October 2017, the gross margins 
for Premium Super and Regular Gasoline were increased from 14.5 cents to 19.5 cents, respectively, and th e 
gross margins for domestic kerosene and diesel were increased from 9.5 cents to 14.5 cents, respectively.  WT/TPR/S/388 • Trinidad and Tobago  
 
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  Table 4.13 Atlantic LNG production and ownership structure, 20 18 
Train  Capacity  Shareholders  
1 LNG: 3 million tonnes per year  
Natural gas liquids: 6,000 bbl/day  Shell – 46% 
BP – 34% 
NGC – 10% 
China Investment Corporation – 10% 
2 and 3  LNG: 3.3 million tonnes per year ( per 
train)  
Natural gas liquids: 5,000 -6,000 bbl/day 
(per train)  Shell – 57.5%  
BP – 42.5%  
4 LNG: 5.2 million tonnes per year  
Natural gas liquids: 12,000 bbl/day  Shell – 51.1%  
BP – 37.8%  
NGC – 11.1%  
Source:  Data provided by the MEEI.  
Table 4.14 LNG exports, 2012 -17 
(%) 
Region  2012  2013  2014  2015  2016  2017  
South America  41.4 43.6 43.8 46.1 36.3 33.5 
North America  22.9 14.9 13.3 19.7 17.1 18.7 
Europe  13.1 15.1 15.3 9.1 7.7 8.9 
Asia 10.5 9.6 8.4 4.5 7.6 9.1 
Caribbean  10.0 14.4 12.7 13.5 16.7 17.7 
Middle East  1.8 0 5.8 6.5 13.0 11.7 
Source:  Data provided by the MEEI.  
4.77.   The National Gas Company of Trinidad and Tobago (NGC) continues to have a de facto  
monopoly on the transmission and distribution of natural gas within Trinidad and Tobago. It owns, 
maintains and operates the country's gas transmission and distribution pipeline network, which 
supplies power generation firms, petrochemical plants and a wi de range of light manufacturing and 
commercial enterprises. It continues to be profitable, recording a profit of over TTD 720 billion in 
2016. The NGC's main wholly -owned subsidiaries are the National Energy Corporation of Trinidad 
and Tobago, which is, inter alia , involved in the development of energy -related infrastructure39, and 
NGC CNG Company Ltd., which is mandated to accelerate and expand the use of CNG as a major 
alternative transportation fuel in the country.40 The NGC has a 10% equity stake in Atl antic LNG.  
4.78.   NGC also has an equity stake in PPGPL through its subsidiary Trinidad and Tobago NGL Limited 
(TTNGL). Other shareholders are NGC NGL Company Limited41, and Pan West Engineers and 
Constructors LLC.42 TTNGL divested itself of 47.1% of its equity sha res in PPGPL through two public 
offerings, in 2015 and 2017. Participation in the public offerings was restricted to residents of 
Trinidad and Tobago and certain registered entities. PPGPL undertakes natural gas processing, 
natural gas liquids (NGL) aggreg ation, fractioning, and marketing. The processed natural gas is 
delivered to downstream facilities where it is transferred either to power generators for electricity 
generation or to petrochemical plants for use as feedstock.  
4.79.   With respect to the petrochemi cals sector, Trinidad and Tobago has 11 ammonia plants, 
7 operating methanol plants, and facilities for urea and iron. Additionally, extracted NGLs are also 
fractionated into propane, butane and natural gasoline.  
4.80.   As noted in the previous Review, a variety of models are used to set natural gas prices. For 
LNG, prices are linked to those in major consuming markets internationally. For sales by NGC to 
petrochemicals and power companies, and to industry, producer prices are determined through 
negotiations with the producers with differential pricing depending on the end -use of the gas and 
                                                
39 The company also plays a part in the development and management of industrial estates, port and 
marine facilities and services in natural gas -based development.  
40 It is responsible for installing the network of CNG stations and implementing government incentives.  
41 NGC NGL is owned by NGC (80% equity share) and NEL (20% equity share).  NEL is owned by the 
Government of Trinidad and Tobago (66% equity  share) and NGC (17% equity share).  
42 Pan West Engineers and Constructors LLC was purchased by an investment consortium in 2014. One 
of the three investors is NEL.  WT/TPR/S/388 • Trinidad and Tobago  
 
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  the product being produced. For petrochemicals, NGC shares the market price risk by allowing the 
gas feedstock to fluctuate with the price of the commodity produced.43 The price  of CNG at the pump 
is set by the Minister of Energy and Energy Industries via the price of CNG Orders. The most recent 
Order was issued i n 2014, fixing the price at 100 cents per litre of gasoline equivalent (lge).44 The 
authorities reported that the intri nsic subsidy on CNG varies between 10 cents and 30 cents per lge, 
and calculated the total subsidy cost for the period 2010 -18 as just over TTD 5 million.  
4.3.1.4   Electricity  
4.81.   Almost all of the electricity on the islands of Trinidad and Tobago is generated from gas-fired 
power stations. The Trinidad and Tobago Electricity Commission (T&TEC) is responsible for the 
transmission, distribution and sale of electricity. Power producers sell electricity to T&TEC under 
long-term power sales agreements negotiated between the supplier and T&TEC, and must conform 
to RIC guidelines. There are six power stations in Trinidad and Tobago: three of these are fully state -
owned, and the State has a majority share (51%) in a company (PowerGen) which operates two 
further power station s. One power station is entirely privately -owned.45 There are no foreign equity 
restrictions on the ownership of power plants.  
4.82.   As at the time of the previous Review, electricity prices are determined by the RIC. Electricity 
prices have not changed since 200 9, and vary depending on whether the consumer is a residential, 
commercial or industrial user: residential users pay between TTD 0.26 and TTD  0.37 per kWh; 
commercial users pay between TTD 0.415 and TTD  0.61 per kWh; and industrial users pay between 
TTD 0. 145 and TTD 0.218 per kWh plus a monthly demand charge ranging from TTD 37 to TTD 50 
per kVA.46 As noted  in Section 3.3. 5, T&TEC receives a subsidy of around TTD  750 million per year, 
due to arrears to the NGC for natural gas.  Given the fiscal drain this re presents, it has been 
suggested that raising utility tariffs (including but not limited to electricity) should be guided by a 
rate-determination exercise.47 This is being undertaken by the RIC in a three -phased approach; the 
first two phases have been compl eted (phase 1: framework and approach, and phase 2: review of 
the quality of service standards for the electricity transmission and distribution sector). The third 
phase is ongoing (phase 3: draft determination of rates and miscellaneous charges).  
4.83.   Since De cember 2016, to assist the poorest households, the Government subsidizes the first 
TTD 100 of electricity charges for persons whose monthly electricity bill is TTD 400 or less.48 
4.4  Manufacturing  
4.84.   Manufacturing accounted for 15.7% of GDP  in 2017 , and 11% of emp loyment (when the 
petroleum and gas sector is included) . The ma in subsectors include:  petroleum and chemical 
products (about 9% of GDP); and food, beverages and tobacco products (about 5% of GDP) 
(Table  4.15).  Growth rates in the sector have been volatile in recent years.  
4.85.   The m ain export products  in 2017 were chemical products (29.3% of total merchandise 
exports), prepared foodstuffs (9.6%), and base metals (6.6%). In the same year, the main import 
items were machinery and electrical equipment (17.6% of tot al merchandise imports), other 
manufactured products (13.9%), vehicles and transport equipment (11.5%), chemical products 
(7.3%), and prepared foodstuffs and beverages (6.8%) (Chart 1.1).  The authorities indicated that 
the main export markets include Jamai ca and other CARICOM countries, and the United States.  
                                                
43 WTO document WT/TPR/S/260/Rev.1, 2 May 2012.  
44 Price of Compressed Natural Gas Order (LN29 4/2014).  
45 T&TEC owns the Scarborough Power Station (the only power station in Tobago) and the Cove Power 
Station. It has a 51% equity share in PowerGen, which operates two power stations at Penal and Point Lisas. 
The State now fully owns the Union Estate Power Stat ion, having purchased 40% of its joint venture partner's 
shares in 2013. Trinity Power Limited is the only fully privately -owned power station. MEEI online information. 
Viewed at: http://ww w.energy.gov.tt/resources/electric -power/ . 
46 TTEC online information. Viewed at: https://ttec.co.tt/default/tariffs -2. 
47 IMF Country Report No. 18/285. Viewed at: http://www.sipotra.it/wp -
content/uploads/2018/09/Country -Report -No.-18285 -TRINIDAD -AND-TOBAGO.pdf . 
48 Ernst and Young online information. Viewed at: https://www.ey.com/Publication/vwLUAssets/ey -
focus -on-the-trinidad -tobago -budget -2017/%24FILE/ey -focus-on-the-trinidad -tobago -budget -2017.pdf . WT/TPR/S/388 • Trinidad and Tobago  
 
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  Table 4.15 Main indicators of the manufacturing sector, 2012 -17 
 
2012  2013  2014  2015  2016  2017a 
GDP by economic activity (as a share of current GDP at purchaser price)  
Manufacturing  19.5 15.4 16.0 15.1 17.1 15.7 
Food, beverages and tobacco products  3.2 3.3 3.4 4.8 5.1 4.8 
Textiles, clothing, leather, wood, paper  and printing  1.0 0.8 0.6 0.6 0.6 0.5 
Petroleum and chemical products  14.0 9.8 10.6 8.4 10 8.9 
Other manufactured products  1.4 1.6 1.5 1.3 1.5 1.4 
GDP by economic activity (real growth rate based on constant 2012 prices)  
Manufacturing  -0.8 0.9 -3.3 0.9 -3.4 -2.6 
Food, beverages and tobacco products  6.0 -1.1 -2.8 2.6 9.7 12.0 
Textiles, clothing, leather, wood, paper and printing  10.4 -3.1 -5.9 -9.6 -6.6 -1.6 
Petroleum and chemical products  -4.7 1.6 -3.9 1.9 -4.5 -0.1 
Other manufactured products  30.2 1.4 3.2 -6.6 -20.7 -4.3 
a Provisional data.  
Source:  Central Bank; MOF; IMF Article IV consultation; IMF International Financial Statistics; and data 
provided by the authorities.  
4.86.   In 2017, Trinidad and Tobago's m ain import sources for manufactured products were the  
United States and China.  The average applied MFN tariff on WTO non -agriculture products was 7.3% 
in 2018, up from 6.8% in 2011 (Table 3.1). In 2018, tariff rates ranged from zero to 67.5%; 3,508 
lines were duty free, corresponding to 65.4% of all manufacture tariff lines or 54.1%  of all tariff 
lines, and the highest tariff rate (67.5%) applied to two tariff lines: 87032490 (other motor cars, 
with cylinder capacity >3,499 cc) , and 87033390 (taxis and other motor cars, diesel/semi -diesel, 
with cylinder capacity >3,499 cc) . 
4.87.   Trinidad and Tobago applies no tariff quotas. I mport and export prohibition and licensing 
requirements  on manufacturing products  are detailed in Section 3.1. In 2014, an anti -dumping 
investigation was initiated concerning the alleged dumping of aluminium extrusions  originating from 
China (Section 3.1.5).  
4.88.   The Government provides incentives to the manufacturing sector (Table  4.16). In May 2018, 
the Forex Facility was launched, with an initial capitalization of USD 100 million, to secure foreign 
exchange for manufactur ers who export (Sections 3.2 .5 and 3.3 .1.2). To benefit from it, applicants 
must be established or existing SME manufacturers under certain conditions. All funds obtained from 
exporting through the Facility must be repatriated.49  
4.89.   The 2018 Budget Statement proposed more incentives to the manufacturing sector, notably 
the re -introduction of export allowances for manufacturers. The authorities indicated that this 
proposal has not been implemented. In addition, the 2018 Budget proposed to set up a garment 
produ ction facility for the fashion industry as part of the incentives allocated to the creative sector.  
The authorities stated that access to incentives has not been easy, in practice.  
Table 4.16 Investment incent ives for the manufacturing sector  
Sector and incentive 
programmes  Description  
Fiscal incentives  
 
Fiscal Incentives Act, 
Chapter 85:01  Exemption from customs duties for the construction of an approved project;  
Exemption from VAT;  
Exemption from income tax on dividends or other distributions, other than 
interest, out -of-profits or gains derived from the manufacturing of the 
approved product during the tax holiday period  
Import duty concessions  Exemption from customs duties on raw materials, machinery and eq uipment 
and, in some cases, packaging materials, based upon the provisions of the 
Third Schedule of the Customs Act, Chapter 78:01 (as amended)  
Approved small company 
status  Approved small company status is a designation granted to a limited liability 
company, allowing it to benefit from tax relief for a period of five years  
Free Trade Zones  Free zone activities (Section 3.2). Sales to the customs territory are treated as 
extra-regional imports  
                                                
49 EXIMBANK online information. Viewed at: http://www.eximbanktt.com/index.html . WT/TPR/S/388 • Trinidad and Tobago  
 
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  Sector and incentive 
programmes  Description  
Allowances to the 
manufacturing sector  Where a person carrying on a trade incurs capital expenditure on the provision 
of machinery or plant for the purposes of that trade, there shall be made to 
him, for the year of assessment in the basis period for which the expenditure is 
incurred, an allowa nce equal to 90% of the expenditure incurred in the 
provision of machinery and plant for the purposes of that trade  
Source:  MOF, Major Investment Incentives in Trinidad and Tobago . Viewed at: 
http://www.finance.gov.tt/wp -content/uploads/2017/08/MOF -Investment -Incentives -in-Trinidad -
and-Tobago -web.pdf . 
4.5  Services  
4.90.   The services sector accounted for 59.6% of GDP in 201750, up from 46% in 2010, and employ s 
nearly  70% of the total workforce in the economy (2010  figures ). Trinidad and Tobago has a trade 
deficit in services; d uring the period under review , the export  value was less than half of the import 
value (Chart  4.9). In terms of export value, the main services subsectors were: travel (in particular 
personal travel), transport (in particular air transport), insurance, and t echnical trade -related and 
other business services  (Table 1.4 ). In terms of import value, the main services subsector s were: 
technical trade -related and other business services , transport (in particular sea transport), and 
insurance (in particular reinsurance).  
4.91.   Trinidad and Tobago made sector -specific GATS commitme nts with respect to 8 of the 
12 sectors , as per the WTO classification  in the Uruguay Round . Most commitments are specific to 
certain subsectors.  Trinidad and Tobago listed exemptions to MFN treatment under maritime 
transport for cargo reservations under the UN Code of Conduct on Liner Conferenc es, and for all 
sectors for bilateral investment promotion and protection treaties, for an unlimited period .51 Trinidad 
and Tobago did not make any notifications under GATS Articles III:3 or III:4 (Section  2.3.1).  
Chart 4.9 Total services exports and imports, 2012 -17 
(USD million)  
 
a Provisional data.  
Source:  Central Bank . 
                                                
50 This share excludes electricity, gas, water, and construction services.  
51 WTO document GATS/SC/86, 15 April 19 94. 
05001,0001,5002,0002,5003,0003,500
2012 2013 2014 2015 2016 2017a
Total services exports Total services importsChart 4.[Services trade] Total services exports and imports, 2012 -17
(USD million)
Source: Central Bank of Trinidad and Tobago.WT/TPR/S/388 • Trinidad and Tobago  
 
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  4.5.1   Financial services  
4.92.   The financial services sector remains stable despite recessions in the past few years. Banks 
are well -capitalized and profitable, and credit quality remains relatively high. The  non-performing 
loan (NPL) ratio, one of the lowest in the region, has been declining since 2011. However, according 
to the IMF report, late -2017 and early -2018 data indicate some weakening in asse t quality, with the 
NPL ratio rising for real estate and credit cards, and with a discernible increase in the overall level 
of past -due loans for 30 -89 days.52 The insurance sector has remained resilient despite large claims 
from the 2017 hurricanes in the region (Section 4.5.1.2).  
4.93.   The financial services sector contributed approximately 7.7% of GDP in 2017  (Table 1.1), and 
accounted for 10% of the work force.53 It comprises commercial banks, non -bank financial 
institutions, insurance companies, the Trinidad and Tobago Stock Exchange, the U nit Trust 
Corporation, the H ome Mortgage Bank, and the Deposit Insurance Corporation  (Table 4.17) . 
According to the Central Bank Annual Report, the asset base54 of the financial system showed little 
growth  in 2017, ending at j ust over TTD 300 billion. The banking, insurance and pension sectors 
accounted for about 80% of financial system assets, while seven institutions collectively accounted 
for about half of the assets (four banks, two large insurers, and the Unit Trust Corpor ation).55 
Table 4.17 The financial system, June 2018  
 Number of institutions (branches a) Total assets  
(TTD mn.) 
Central Bank  1 66,249  
Commercial banks 8 (122)  136,695  
Finance companies and merchant banks 10 (46) 6,837  
Trust and mortgage finance companies  6 (6) 1,734  
Thrift institutions ( building societies)  2 (2) 136 
Development banks 2 (10)  4,931  
Unit Trust Corporation  1 (19)b 21,424  
Credit unions  129c 13,703c 
National Insurance Board  1 (15d) 27,994  
Insurance companiese 34  49,385  
Deposit Insurance Corporation  1 3,253  
Home Mortgage Bank  1 (2) 2,834  
Venture capital companies  .. .. 
Trinidad and Tobago Stock Exchange  1 80f 
EXIMBANK  1 495 
.. Not available.  
a Number of branches as at November 2018.  
b Includes nine investment centres and ten authorized agents.  
c As at 2015.  
d Includes one collection centre.  
e Refers to all insurance companies (active and inactive) - life, non -life and composite.  
f As at 2017.  
Source:  Central Bank.  
4.5.1.1   Banking  
4.94.   The banking sector includes both the licensed commercial banks and non -bank financial 
institutions, both of which are regulated by the Central Bank i n accordance with the Financial 
                                                
52 IMF (2018), 2018 Article IV Consultation – Trinidad and Tobago . Viewed at: 
https://www.imf.org/en/Publications/CR/Issues/2018/09/25/Trinidad -and-Tobago -2018-Article -IV-
Consultation -Press -Release -and-Staff-Report -46267 . 
53 InvesTT online information. Viewed at: http://www.investt.co.tt/industries -and-
opportunities/financial -services/ . 
54 This includes the assets of the Colonial Life Insurance Company Limited (CLICO) and the British 
American Insurance Company (Trinidad) Limited (BAT), but excludes Central Bank assets.  
55 Central Bank (2018), Annual Report 2017 . Viewed at: https://www.central -
bank.org.tt/sites/default/files/reports/CBTT%202017%20Annual%20Report_final.pdf . The four banks are: the 
Republic Bank, the First Citizens  Bank, the Scotia Bank Trinidad and Tobago, and the RBC Royal Bank 
(Trinidad  and Tobago) Limited. The two insurance companies are: Guardian Life, and Sagicor.  WT/TPR/S/388 • Trinidad and Tobago  
 
- 106 - 
 
  Institutions Act (FIA), 2008.  Foreign financial institutions are allowed to conduct bus iness in the 
country through licensed subsidiaries.56 To obtain a licence, a foreign financial institution must, 
inter alia, appoint a resident of Trinidad and Tobago as its principal representative, and be subject 
to regulation and supervision in its home jurisdiction that is satisfactory to th e Central Bank  of 
Trinidad and Tobago . The foreign financial institution must maintain similar capital adequacy 
requirements as a licensed domestic financial institution , or a larger amount that the Central Bank 
may s pecify . 
4.95.   In 2018, there were eight commercial banks, of which two  were local, and the rest were 
foreign invested. As at September 2018, the two local banks ha d a market share of 55.5%, compared 
with 52.3% in 2011. In 2018, commercial banks had  TTD 139  billion in assets , which was about 
90% of GDP. 
4.96.   The banking sector has remained relatively stable, with high capital buffers and improved 
credit quality of loan portfolios. Profitability, as measured by return on equity (ROE), went up from 
15.8% in 2013 to  19.0% in 2017, while return on assets went up from 2.5% to 2.9% during the 
same period (Table 4.18).57 Commercial banks' profits came mainly from interest margins, while the 
non-bank sector derives a large share of profits from fees instead of interest inc ome, as it engages 
in trustee business, asset management, and merchant banking.  From 2012 to 2017, the i nterest 
rate spread  (i.e. the spread between average lending and deposit rates ) fell slightly from 8.2% to 
7.6% .58 
Table 4.18 Banking sector financial soundness indicators, 2013 -17 
(%) 
  2013  2014  2015  2016  2017  
Capital adequacy       
Regulatory capital -to-risk-weighted assets  25.0 24.6 24.1 23.8 23.4 
Regulatory Tier I capital -to-risk-weighted assets  23.7 24.3 25.0 23.0 23.1 
Regulatory capital -to-total assets  13.3 12.5 12.6 12.5 12.9 
Net open position in foreign exchange –to-capital  13.9 6.6 9.7 13.8 16.9 
Asset quality       
NPLs-to-gross loans  4.3 4.4 3.7 3.2 3.0 
NPLs (net of provisions) -to-capital  7.0 7.3 6.3 6.3 5.9 
Earnings and profitability       
Return on assets  2.5 2.0 2.9 2.9 2.9 
Return on equity  15.8 12.9 18.2 19.9 19.0 
Interest margin -to-gross income  58.9 55.7 57.8 62.0 64.8 
Non-interest income -to-gross income  41.1 44.3 42.2 38.0 35.2 
Non-interest expense s-to-gross income  62.3 67.6 61.8 60.0 58.2 
Liquidity       
Liquid assets -to-total assets  26.8 25.0 23.1 21.8 19.7 
Liquid assets -to-total short -term liabilities  35.7 32.5 30.6 27.8 25.3 
Customer deposits -to-total (non -interbank) loans 178.3  174.3  159.8  164.6  154.7  
Foreign currency liabilities –to-total liabilities  26.0 23.8 25.4 26 26.4 
Source:  Central Bank (2018), Financial Stability Report 2017.  Viewed at: https://www.central -
bank.org.tt/sites/default/files/reports/FSR_2017_Final.pdf . 
4.97.   Gross assets of the banking sector declined by 1.5% in 2017.59 Liquid funds remained  at 
healthy levels, although the ratio of liquid assets to total assets fell from 26.8% in 2013 to 19.7% 
in 2017. According to the Central Bank, this is probably due to banks using liquid assets to meet 
large withdrawals from government -related entities. T he Central Bank's Financial Stability Report 
indicated that these withdrawals might be the consequence of the Government's fiscal consolidation 
                                                
56 The authorities stated that, in practice, the Central Bank prefers foreign financial instituti ons to 
conduct business through licensed subsidiaries than branches. In practice, foreign bank branches are not 
allowed to conduct business in the country.  
57 Central Bank (2018), Financial Stability Report 2017 . Viewed at: https://www.central -
bank.org.tt/sites/default/files/reports/FSR_2017_Final.pdf . 
58 IMF (2018), 2018 Article IV Consultation – Trinidad and Tobago , Table 5.  
59 Central Bank (2018), Financial Stabi lity Report 2017 . Viewed at: https://www.central -
bank.org.tt/sites/default/files/reports/FSR_2017_Final.pdf . WT/TPR/S/388 • Trinidad and Tobago  
 
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  efforts and, hence, the lower subventions to certain public bodies.60 The asset composition of the 
banking sector  has recently remained relatively unchanged, with loans and investment accounting 
for 48% and 24% of total banking sector assets, respectively.61 More than a quarter (27%) of total 
loans and investments in 2017 were to the Government and state -owned entitie s. 
4.98.   Commercial banks remain well -capitalized: the r egulatory capital -to-risk-weighted assets 
ratio (CAR) under Basel I has remained above 23% (against a prudential requirement of 8%), and 
the regulatory Tier 1 capital -to-risk-weighted  assets ratio has also remained over 23% (against a 
prudential requirement of 4%). Currently, the Central Bank is preparing the implementation of the 
Basel II standards to improve the risk sensitivity of capital requirements. In this regard, the it 
conducted a second quantitativ e impact study in 2017 to determine the impact of the new rules on 
individual banks, and on the banking system as a whole. The results showed that all licensees met 
the proposed minimum capital requirements, as the banking sector CARs exceeded 20% on avera ge. 
Phase 2 of the Basel II implementation is to commence in early 2019.  
4.99.   The Central Bank has the sole right to issue notes and coins in Trinidad and Tobago, and such 
notes and coins are legal tender in the country. It has not issued any digital currency. According to 
its Financial Stability Report, the Central Bank has adopted an accommodative stance on digital 
currencies, and does not prohibit cryptocurrencies. The Central Bank's 2016 -20 Strategic Plan 
contains strategic objectives, such as the developmen t of an e -money policy, a virtual currency 
policy, and a Payment System Act. Financial institutions (licensees and insurers) must obtain 
approval from the Central Bank before launching any new or materially different product or service. 
The Central Bank ad vises financial institutions to exercise robust due diligence to protect customer 
information, ensure adequate cybersecurity, and mitigate money laundering/terrorism financing 
risks. It also participates actively in regional committees, such as the Caribbe an Fintech Working 
Group, and the Centre for Latin American Monetary Studies Fintech Forum, to develop the regulatory 
framework on digital currencies.62 
4.5.1.2   Insurance  
4.100.   In 2017, there were 34 companies providing insurance services in Trinidad and Tobago, of 
which  31 were active ; of these, 7 provide d life insurance business exclusively, 17 provide d general 
insurance exclusively, and 7 provide d composite (both life and general) insurance. Four of the 
insurance companies were foreign invested. The insurance sector  has remained resilient despite 
large claims from the 2017 hurricanes.63 
4.101.   The life insurance sector, which accounted for 81 % of the industry's assets , continued its 
positive trend (Table 4.19). The assets of life insurance firms reached TTD 25.6 billion in December 
2017, up from TTD 15 billion in 2010. Two regional players collectively represent 60.7% of the 
sector's assets and 64.9% of the annual premium income. Gross annual premium income has been 
growing steadily, from TTD 3.5 billion at end -2013 to TTD 4 .5 billion at end -2017. Profitability, as 
measured by ROE, reached 13.8% in 2017, while the investment yield continued to recover.  
4.102.   The non -life insurance sector was affected negatively by the catastrophic hurricane in the 
Caribbean region in 2017, with the  loss ratio rising from 45.0% in 2013 to 55.0% in 2017, and the 
ROE declining from 20.0% to 3.6% during the same period. Reinsurance protected the sector against 
further decline. Liquidity in the sector remained solid despite increased claims. Total assets  of non -
life insurance firms went up from TTD 4.0 billion in 2010 to TTD 6.2 billion in 2017, although the 
increase in 2017 was transient as the assets were temporarily inflated by funds advanced from 
reinsurers for payments of claims caused by the hurrica ne.64 Annual gross premium income declined 
from TTD 3.9  billion in 2015 to TTD 3.5 billion in 2017. In terms of annual gross premiums, one third 
                                                
60 Central Bank (2018), Financial Stability Report 20 17. Viewed at: https://www.central -
bank.org.tt/sites/default/files/reports/FSR_2017_Final.pdf . 
61 Central Bank (2018), Financial Stability Report 2017 . Viewed at: https://www.central -
bank.org.tt/sites/default/files/reports/FSR_2017_Final.pdf . 
62 Central Bank (2018), Financial Stability Report 2017 . Viewed at: https://www.central -
bank.org.tt/sites/default/files/reports/FSR_2017_Final.pdf . 
63 IMF (2018), 2018 Article IV Consultation – Trinidad and Tobago . 
64 Central Bank (2 018), Financial Stability Report 2017 . Viewed at: https://www.central -
bank.org.tt/sites/default/files/reports/FSR_2017_Final.pdf . WT/TPR/S/388 • Trinidad and Tobago  
 
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  of the market was controlled by one institution .65 Among the insurance business activities, motor 
and property in surance accounted for 39.5% and 43.1% of gross premiums written, respectively.  
Table 4.19 Life and non -life insurance sectors' financial soundness indicators, 2013 -17 
(%) 
  2013  2014  2015  2016  2017  
Life insurance sector  
Capital adequacy       
Capital –to-total assets  21.2 21.3 20.7 20.3 21.5 
Capital –to-technical reserves  28.6 29.5 28.6 27.7 29.8 
Asset quality       
(Real estate + unquoted equities + debtors) –to-total assets  10.5 7.4 7.8 8.0 8.6 
Earnings and profitability       
Expense ratio  35.1 33.6 33.1 28.9 31.0 
Investment yield = investment income –to-investment assets  5.1 4.8 4.5 4.7 4.7 
ROE 15.1 10.6 11.3 15.4 13.8 
Liquidity       
Liquid assets –to–current liabilities  32.6 34.2 37.7 27.4 25.0 
Non-life insurance sector  
Asset quality       
(Real estate + unquoted equities + debtors) –to–total assets  13.5 13.8 16.4 17.9 18.5 
Debtors –to–(gross premiums + reinsurance recoveries)  11.2 11.0 14.1 16.0 11.4 
Reinsurance and actuarial issues       
Risk retention ratio: net premiums written –to–total gross 
premiums  43.0 42.5 43.0 45.8 45.2 
Net technical reserves –to–average of net claims paid in the last 
three years  168.3  171.1  176.1  168.2  161.2  
Earnings and profitability       
Combined ratio       
  Expense ratio: expense –to–net premiums  51.1 51.4 52.2 55.5 57.6 
  Loss ratio: net claims –to–net earned premiums  45.3 44.3 48.6 47.2 55.1 
Investment income –to–net premium  10.3 5.8 5.8 6.1 6.7 
ROE = pre -tax profits –to–shareholders' funds  20.0 14.2 10.1 12.7 3.6 
Return on assets  8.9 6.4 4.8 5.8 1.6 
Liquidity       
Liquid assets –to–current liabilities  60.5 61.2 58.9 49.3 48.8 
Source:  Central Bank (2018), Financial Stability Report 2017 . Viewed at: https://www.central -
bank.org.tt/sites/default/files/reports/FSR_2017_Final.pdf . 
4.103.   The insurance sector is regulated by the Central Bank in accordance with the Insurance Act, 
1980. A new Insurance Act was passed in the Lower House in February 2018 and in the Senate in 
May 2018, and was assented to in June 2018. Once the accompanying regulations are finalized, the 
Insurance Act, 2018 is to come into force on a date to be proclaimed by the President.  
4.104.   This Act will give the Central Bank the power to more effecti vely supervise and regulate the 
sector, and protect the interests of policy holders. Compared to the 1980 Act, the new Act includes 
provisions to promote financial soundness by requiring adequate capital buffers to cater for 
unanticipated losses; current l egislation requires TTD 3 million in capital, irrespective of business 
size. The new Act requires both long -term and general insurers to hold a minimum stated capital of 
TTD 15 million. Companies that are registered to conduct both long -term and general in surance 
business at the commencement of the Act will be required to hold a minimum stated capital of TTD 
22.5 million. Furthermore, the new Act requires all insurers to hold adequate capital in accordance 
with the Act and the regulations thereunder, i.e. a  minimum net Tier 1 ratio of 105% and a regulatory 
capital ratio of 150%.  
4.105.   The 2018 Act will also address risks posed by financial or mixed conglomerates, and 
harmonize with the Financial Institutions Act by : 
                                                
65 Central Bank (2018), Financia l Stability Report 2017 , pg. 22. Viewed at: https://www.central -
bank.org.tt/sites/default/files/reports/FSR_2017_Final.pdf . WT/TPR/S/388 • Trinidad and Tobago  
 
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  a. requiring the Central Bank to  approve significan t shareholders, controlling shareholders, 
and acquirers, on "fit and proper" grounds;66  
b. requiring mixed/complex groups to establish a financial holding company (FHC) to 
separate financial entities from non -financial entities, and to protect insurers from g roup 
risk and contagion;  
c. placing limits on related party transactions;  
d. requiring that transfers and amalgamations of insurance business, mergers and 
acquisitions be first approved by the Central Bank;  
e. overseeing external subsidiaries; and  
f. providing for ade quate capital at the level of financial holding companies in addition to 
that of the insurance subsidiary.  
4.106.   All insurance companies must maintain a statutory fund , with assets equivalent to their 
Trinidad and Toba go policyholders' liabilities and reserves. Investments in Trinidad and Tobago 
assets must be at least 80% of their Trinidad and Tobago dollar liabilities.  For purposes of investment 
of assets in the statutory fund, assets originating in CARICOM countr ies are treated as assets in 
Trinidad and Tobago . Life and automobile insurers are required to have st atutory funds to support 
policyholders' liability. All foreign firms providing life insurance, all non -life insurers whether  foreign 
or domestic, and the association of underwriters must maintain statut ory deposits.  Domestic firms 
providing life insurance are not required to maintain statutory deposits . All insurers are required to 
have adequate reinsurance . Insurance products of all insurer s must be approved by the regulator.  
4.107.   If approved by the Central Bank, cross -ownership of financial institutions is permitted. A 
financial entity (such as a bank, a non -bank or insurance company) or a significant/controlling 
shareholder of a financial entity may become an "acquirer " of a licensee with the permission of the 
Central Bank or the Minister of Finance, as applicable. If a bank/non -bank seeks to acquire 10% or 
more of the shares of an insurance company registered under the Insurance Act, it must first seek 
the approval of the Central Bank. However, it cannot ac quire any part/share of an insurance 
company if the:  
a. aggregate value of all the bank/ non-bank's shareho lding is greater than 100% of its capital 
base; or  
b. shareholding is greater than 25% of the bank/non -bank's capital base.  
4.108.   Foreign firms may conduct insura nce business in Trinidad and Tobago if they are locally 
incorporated or appoint a local resident as their principal representative. This requirement does not 
apply to companies from other CARICOM countries. Foreign firms are required to deposit 
TTD 250,000  with the Central Bank to be able to carry out long -term insurance business in the 
country. Local residents may purchase insurance products abroad, and there is no restriction on 
foreign firms advertising insurance products to residents in Trinidad and Tob ago. 
4.109.   Following the collapse of the CL Financial Group and its subsidiaries, CLICO and BAT in 
200967, a resolution plan was announced in 2015. The plan involved phased payments to CLICO's 
policyholders and creditors from the monetization of CLICO's assets. I n 2016, special directions were 
issued to facilitate an earlier settlement of liabilities to unconnected "third party" short -term 
investment product holders and mutual fund holders, including the Government. In May 2017, CLICO 
                                                
66 "Fit and proper" grounds include: i n the case of an individual, criteria in respect of good character and 
probity, competence, soundness of judgement for fulfilling the responsibilities of that position, diligence, and 
whether the interests of policyholders or potential policyholders of the  registrant or financial holding company 
are, or are likely to be, threatened in any way by the individual holding that position; and,  in the case of a 
company, whether the company is guilty of an offence, the company's financial resources, and whether the  
company has conducted its business in a prudent manner. Viewed at: 
http://www.ttparliament.org/legislations/a2018 -04g.pdf . The Central Bank may also issue Guidelines under the 
Insuranc e Act, 2018 concerning fitness and propriety . 
67 WTO document, WT/TPR/S/260/Rev.1.  WT/TPR/S/388 • Trinidad and Tobago  
 
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  and the Government agreed the  transfer of CLICO's 100% shareholdings in Occidental Investments 
Limited (OIL) and Oceanic Properties Limited (OPL) to the state enterprise, Golden Grove –Buccoo 
Limited, on the basis of an independent valuation, and thus reducing CLICO's liability to the 
Government.68 
4.5.1.3   Securities  
4.110.   When measured by overall market capitalization and levels of trading activity, the securities 
market in Trinidad and Tobago remains one of the largest in the region . The securities market 
comprises three major product types: equities, collective investment schemes (CIS s), and fixed 
income instruments. The equity market has been growing, with 39 companies listed on its Stock 
Exchange in 2017 (up from 32 in 2010). The total value of these securities, as measured by m arket 
capital ization, reached TTD 129 billion by end -2017, much higher than the TTD 77.8 billion in 2010.  
4.111.   The sector's regulator, t he Trinidad and Tobago Securities and Exchange Commission 
(TTSEC) , was originally established in 1997 pursuant to the Securities Industry Act, 1995 (SIA). The 
SIA was repealed and replaced by the Securities Act , 2012 (SA 2012) on  31 December 2012. 
Securities that are distributed in Trinidad and Tobago,  as well as the companies that issue those 
securities , are required to be registered (unles s exempted from registration under the SA 2012) with 
the TTSEC. In addition, certain securities market actors , such as issuers, broker -dealers, investment 
advisers, underwriters, registered representatives and self -regulatory organizations, are required to  
be registered with the TTSEC.  
4.112.   The TTSEC is an independent regulatory body.  It has the power to, inter alia :  
a. formulate principles for the guidance of the securities industry;  
b. make recommend ations to the  Minister of Finance  to create by-laws for the local  securities 
industry;  
c. review and approve change of control transactions (such as take -overs, mergers, and 
amalgamations);  
d. conduct inspections of market participants; and  
e. take enforcement action where there is non -compliance with the securities 
legislation /regulations.  
4.113.   To foster the growth and development of the securities market, the TTSEC has been making 
efforts to develop and revise (through the Minister of Finance) the legislation and regulations related 
to the securities market. In 2018, the TTSEC amen ded its Repurchase Agreement Guidelines and its 
Anti-Money Laundering/Combatting the Financing of Terrorism Guidelines. It is currently working on 
amending and/or developing:  
a. the Market Conduct Guidelines;  
b. the Collective Investment Scheme By -Laws;  
c. the Take -Over By -Laws;  
d. the Shelf Registration Policies and Guidelines;  
e. the De -registration Guidelines; and  
f. the FINTECH Agenda.  
                                                
68 Central Bank, 2018, Annual Report 2017 . Viewed at: https://www.central -bank.org.tt/sites/default/ 
files/reports/CBTT%202017%20Annual%20Report_final.pdf . WT/TPR/S/388 • Trinidad and Tobago  
 
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  4.5.2   Telecommunications and broadcasting  
4.5.2.1   Structure  
4.114.   The revenues collected from the telecommunications and broadcasting sectors contributed 
3.4% to GDP in 2017. The sector comprises mobile telephony, fixed -line telephony, Internet, and 
broadcasting.69 The Government has an indirect equity stake in a major telecommunications 
operator, the Telecommunications Services of Trinidad and Tobago Limited (TSTT), as it is the 
majority stakeholder of National Enterprises Limited which owns 51% of TSTT. The Govern ment also 
fully owns the following broadcasting operators: Caribbean New Media Group Limited (which 
operates three radio stations and one television station); Parliament of the Republic of Trinidad and 
Tobago (which operates one radio station and one telev ision station); and Government Information 
Services Limited (which operates one television station). Ownership changes over the review period 
included: (a) the acquisition of the Colombus International Inc. telecommunications company by 
Cable and Wireless Communications, PLC (CW) in 201570; (b) the acquisition by One Caribbean 
Media (a free -to-air broadcasting company) of GreenDot Limited (an Internet and subscription TV 
company) in 2016; and (c) the acquisition in 2017 by TSTT of Massey Communications Limit ed (now 
branded as Amplia Communications), which provides fixed line, Internet and subscription TV 
services.  
4.5.2.2   Mobile telephony  
4.115.   Mobile telephony is one of the telecommunications sector's main segments, accounting for 
30.2% of the sector's revenue in 2017. Mo bile telephone subscriptions increased from 2 million in 
2010 (a penetration rate of over 143%), to 2.03 million in 2017 (a penetration rate of 150%). The 
sector continues to comprise two operators: TSTT and Digicel Trinidad Limited. Data on the market 
share of these operators was not available. In 2017, Trinidad and Tobago was ranked 8th in the 
America's region for mobile cellular prices , based on the International Telecommunication Union's 
(ITU) mobile cellular price basket (calculations based on percenta ge of GNI per capita) , and had the 
second lowest mobile cellular prices in the Caribbean.71 
4.5.2.3   Fixed -line telephony  
4.116.   The fixed -voice market accounted for 13.4% of the sector's revenue in 2017. The number 
of subscribers was 318,800 (a penetration rate of 23.5%) in 2017, up from 293,000 in 2010 (a 
penetration rate of 22%). There were six service providers in the fixed -line market at end -2017: 
TSTT (the incumbent), Colombus Communications Trinidad Limited, Lisa Communications Limited, 
Digicel (Trinidad and Tobago) Limited, Prism Services (Trinidad) Limited , and Amplia 
Communications Limited. Market share data was not available. Since 2012, there have been three 
new entrants to the fixed -line market. As explained by the authorities, the relatively high number of 
fixed-line operators and the dynamism of this subsector are related to the bundling together of 
concessions for Internet and voice services. In 2010, TSTT was designated as a dominant player in 
this market segment. Additionally, there are six active operators in the international switched 
telecommunications market (five of which  offered networks and services , and one of which offered 
networks only); this market generated 6.2% of total telecommunications revenues. A price floor for 
income international terminati on rates implemented in 2010 was amended in 2013 with revised 
pricing rules. In 2017, Trinidad and Tobago was ranked 5th in the Americas region by the ITU for 
fixed-voice prices , and had the second lowest such prices in the Caribbean.  
4.5.2.4   Internet  
4.117.   Internet ser vices accounted for 30.4% of the sector's total revenues in 2017; it has become 
the top revenue -earner in the industry, overtaking mobile telephony. At end -2017, fixed Internet 
penetration reached 24.2% (compared with 17.4% in 2013), while mobile Internet penetration 
                                                
69 Almost all data in the subsections on the structure of the telecommunications sector have been taken 
from the TATT Annual Market Report 2017. Viewed at:  https://tatt.org.tt/ReportsStatistics.asp x. 
70 As a condition to obtaining approval for this acquisition, CW was required to divest itself of its 49% 
equity interest in TSTT; however, no company has  purchased this equity share yet. Online information. Viewed 
at: http://www.guardian.co.tt/business/cable -and-wireless -completes -acquisition -columbus -
6.2.362543.c957eee5e2 .  
71 ITU ICT Price Basket . Viewed at: https://www.itu.int/net4/ITU -D/ipb/#ipbrank -tab. WT/TPR/S/388 • Trinidad and Tobago  
 
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  reached 52% in 2017 (compared to 33.9% in 2013). There were 11 active fixed -line Internet service 
providers , and both mobile operators provide mobile Internet access.  
4.5.2.5   Broadcasting  
4.118.   The broadcasting sector is made up of: pay television, free-to-air radio and television, and 
television broadcasting services via cable. Pay TV accounted for 13.5% of the telecommunication 
sector's revenues in 2017; free -to-air TV, 1.5% ; and free -to-air radio, 2.9%. The subscription TV 
market is the main driver in the broadcasting segment, with 13 service providers in operati on. The 
number of pay TV subscriptions increased from 209,300 in 2013 to 246,800 in 2017. This translates 
to a household penetration rate of just over 18%. At end -2017, there were 37 providers of fr ee-to-
air radio , and 6 providers of free -to-air TV. Additionally, 9 concessionaires provided TV broadcasting 
via cable.  
4.5.2.6   Policy, legislative and regulatory framework  
4.119.   The policy direction for the telecommunications sector is contained in the draft National I CT 
Plan 2017 -21, approved in August 2018. Its vision is to see empowered people, competitive 
businesses and transformational government through ICT and , at the same time , to support Vision 
2030 ( Section  2). The five strategic thrusts of the Plan are: (a)  improving connectivity (advancing 
the deployment of the ICT infrastructure to support securely connected people, businesses and 
government); (b) increasing human capacity (enhancing digital literacy and developing skills to 
enable productivity and innovatio n); (c) enhancing public service delivery (ensuring the use of ICT 
to transform the delivery of public goods and services , and achieve institutional strength and 
capacity); (d) fostering economic development (creating an environment for eBusiness and ICT 
sector advancement); and (e) advancing environment and societal benefits (managing the use of 
ICT to minimize environmental impact and to tackle the most pressing social challenges facing the 
country). The Plan lists several targets to be achieved by 2021, which relate to increasing ICT's 
share in GDP; achieving higher levels of broadband access and employment creation; attaining 
higher rankings in regional and international indicators; and improving eGovernment  services.72 As 
noted by the authorities, implementation will be in stages. For the 2018 -19 period, initiatives to be 
advanced include: completion of the N ational ICT Implementation Plan 2018 -22; upgrad ing of the 
Government Backbone Infrastructure (GovNeTT NG); advancement of cloud computing with a "cloud 
policy" expected to be taken to Cabinet for approval in early 2019; development of ICT standards; 
increased connectivity through the expansion of the TT WiFi initiative; and development of a 
government onli ne payment solution.  
4.120.   The main law governing the telecommunications sector is the Telecommunications Act, 
2001, amended in 2004.73 The Act, and certain regulations74, are undergoing amendments to be in 
compliance with its commitments under the CARIFORUM -EU Ec onomic Partnership Agreement 
(Section 2) as well as to give Telecommunications Authority of Trinidad and Tobago (TATT) greater 
regulatory powers, including in the area of competition. The TATT continues to administer the Act, 
and is the regulatory authorit y for the sector.75 Under the Act, operation of a public 
telecommunications or broadcasting service requires a concession from the TATT, while the use of 
spectrum requires a licence. No distinction is made between foreign and domestically -owned service 
providers when granting concessions and licences.  
4.121.   Since 2012, new regulations have been issued in the areas of universal service and 
accounting separation. Mandatory number portability was also introduced.  
                                                
72 Fastforward II: Trinidad and Tobago's draft National ICT Pla n 2017 -21. Viewed at: 
http://www.news.gov.tt/sites/default/files/Draft%20NICT%20Plan%202017 -2021.pdf . 
73 Telecommunications Act, as amended. Viewed at: 
https://tatt.org.tt/Portals/0/ConsultativeDocuments/Telecommunications%20Act.pdf . 
74 The Telecommunications Fees Methodology and the Authorization Framework for the 
Telecommunications and Broadcasting Sectors of Trinidad and Tobago are being revised.  TATT online 
information. Viewed at: 
https://tatt.org.tt/DesktopModules/Bring2mind/DMX/Download.aspx?Command=Core_Download&EntryId=110
3&PortalId=0&TabId=222 . 
75 The TATT's responsibilities are delineated in the Secretariat Report of the previous Review. WTO 
document WT/TPR/S/260/Rev.1, 2 May 2012 . WT/TPR/S/388 • Trinidad and Tobago  
 
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  4.122.   With respect to universal service, the TATT's mandate to develop a universal service 
requirement is contained in the Telecommunications Act (Section 28). To fulfil this mandate, the 
TATT published a Universal Service Framework in 2012  as a consultative document to inform the 
development of regulations in this  area.76 The Universal Service Regulations were subsequently 
issued in 2015.77 Under the Regulations, the TATT is responsible for administering a Universal 
Service Fund (USF), which is financed through contributions based on operators' gross annual 
revenues,  at a rate of 0.5% for domestic telecommunications services or operation of domestic 
telecommunications network facilities, and at a rate of 1% for international telecommunications 
services or operation of international telecommunications network facilitie s. Disbursement of the 
Fund is made to "mandatory" and "contractual" universal service initiatives, which are selected and 
monitored by the newly -established Universal Service Committee. Revisions to these Regulations 
are being undertaken. The TATT is curr ently pursuing three universal service initiatives to be funded 
through the USF: the National "Free" WiFi Initative; the provision of assistive devices for persons 
with disabilities initiative; and infrastructure rollout initiatives within communities of T rinidad and 
Tobago  
4.123.   In 2015, the TATT issued the Telecommunications (Accounting Separation) Regulations 
which require that concessionaires providing two or more services submit to the TATT separate 
accounts at the end of each financial year.78 The purpose o f this measure is to ensure that there are 
no anti -competitive cross -subsidies between the services provided by the concessionaire, and that 
anti-competitive pricing is not taking place.79 
4.124.   Mandatory number portability was set for launch in late 2016 by the TATT.80 While mobile 
number portability has been successfully undertaken by operators, fixed number portability 
continues to be held up, due to challenges with the dominant operator.  
4.125.   There have been no changes to rules on interconnection since 2012, which a re contained in 
the Telecommunications (Interconnection) Regulations; these are described in detail in the previous 
Review. Revisions to the Regulations are pending finalization. The TATT is required to publish 
providers' interconnection agreements, althou gh commercially sensitive information is excluded.81 
Over the review period, there have been two interconnection disputes . 
4.126.   The Telecommunications (Access to Facilities) Regulations, 2006, as amended in 2009, 
concern concessionaires' rights to each other's n etworks on a non -discriminatory basis. They 
remained unchanged over the review period; however, proposed revisions are being finalized.82 
4.127.   The Telecommunications Tender Rules, 2004 detail the bidding procedures for licences for 
frequency and spectrum bands. These are described in the previous Review.  
4.128.   With respect to other regulatory developments, Telecommunications (Consumer) (Quality of 
Service) Regulations and Telecommunications (Submission of Information) Regulations have been 
drafted.  
4.129.   The TATT is mandated  to set, review and approve prices in cases where, inter alia , there is 
only one service provider, or if a provider has a dominant market position, or if the operator of a 
public telecommunication service cross -subsidizes another telecommunication service,  or if the TATT 
detects anti -competitive behaviour. The TATT's 2009 Price Regulation Framework remains in place; 
it defines relevant telecommunications markets, the methodology for assessing whether there is 
                                                
76 Universal Service Framework . Viewed at: 
https://tatt.org.tt/Portals/0/ConsultativeDocuments/Universality%20Framework/Universal%20Service%20Fra
mework%20June%202012.pdf . 
77 Legal Notice No. 63 of 2015, The Telecommunications (Universal Service) Regulations, 2015 . Viewed 
at: https://tatt.org.tt/UniversalService.aspx . 
78 Legal Notice 64 of 2015, The Telecommunications (Accounting Separation) Regulations, 2015 . 
79 TATT. Accounting Separation Guidelines for the Telecommunications Sector . Viewed at:  
https://tatt.org.tt/Portals/0/Documents/Accounting%20separation%20guidelines%20February%202012.pdf . 
80 TATT Final Determination #2016:01 for the Implementation of Number Portability in Trinidad and 
Tobago pursuant to Section 25(2)(j) of the Telecommunications Act.  
81 Interconnection agreements in force are available on the TATT website. Viewed at 
https://tatt.org.tt/Announcements.aspx  (announcement dated 15 February 2017).  
82 Draft Telecommunications (Access to Facilities) Regulations . Viewed at: 
https://tatt.org.tt/ConsultativeDocs/Table of ConsultativeDocuments.aspx . WT/TPR/S/388 • Trinidad and Tobago  
 
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  dominance or exclusivity of supply within those markets, and the imposition of price regulation if so 
justified. The Framework also details the different forms of price regulation and notification of price 
changes, the prevention of unfair cross -subsidies, anti -competitive pricing, and the treatment of 
new service offerings.  
4.5.3   Transport  
4.130.   In 2017, the transport and storage sector accounted for 4.8% of GDP (up from 3.7% in 
2012). With respect to policy directions for the transport sector, Vision 2030 (Section 2) contains, 
as a key theme, "Improving Productiv ity through Quality Infrastructure and Transportation". Its 
goals are to have a safe and operationally efficient transport system, and an inter -connected, well 
maintained transport infrastructure. It, inter alia , envisages the development of a National 
Transportation Plan, improvement of public transport service management systems, including 
through the use of advanced transport IT applications; improved Port Authority efficiency; 
modernized and expanded port and airport infrastructure; and enhanced transpo rt services within 
Trinidad and Tobago.83 
4.5.3.1   Maritime transport  
4.5.3.1.1   Shipping  
4.131.   The main law governing shipping is the Shipping Act (Chap. 50.10), last amended in 2007. 
Amendments to the Shipping Act have been drafted. While the sector continues to be regulated by 
the Maritime Services Division of the Ministry of Works and Transport, consideration is being given 
to establishing a Maritime Authority as a statutory body with greater autonomy; it is expected that 
this would increase the efficiency and effectiveness of th e sector's operations and functions.84 A 
Standing Committee for the Development of the Maritime Sector was established in 2016, and is 
charged with overseeing the sector's development; it comprises representatives from government 
ministries and key industry  players. So far, its recommendations have led to more simplified 
documentary requirements and an increase in the allowable stay of foreign yachts, in order to attract 
more yachts to the island. The Marine Industry Development Committee no longer exists.  
4.132.   The condition for ships to be locally -registered remain unchanged; ships must be owned by 
nationals of Trinidad and Tobago or other CARICOM member States, or by foreigners engaged in 
bareboat charters or in joint venture shipping arrangements with Trinidad and Tobago nationals. 
Trinidad and Tobago does not have a national shipping line.  
4.133.   The authorities estimated that around 90% of maritime cabotage is conducted by the private 
sector. In order for a foreign vessel to perform cabotage services, a droghers cer tificate must be 
obtained to confirm the safety of the vessel; this is presented to the Customs and Excise Division 
which has the authority to issue the required licence to navigate. According to the authorities, 
maritime cabotage provided by state -owned b odies includes the transport by some energy sector 
bodies, as well as the operation of the Inter -Island Ferry Service between Trinidad and Tobago. The 
latter is operated by the Trinidad and Tobago Inter Island Transportation Company Limited (TTIT), 
a strat egic business unit of the state -owned Port Authority of Trinidad and Tobago (PATT) (see 
below). The Inter -Island Ferry Service is the only ferry service operating between the two islands; 
it has been running at a loss for several years, and has been heavil y subsidized. In 2018, its revenue 
was just over TTD 52.5 million, and expenditure just over TTD 329.8 billion. Over the review period, 
there was a significant decrease in passenger movements by maritime transport within the country; 
from 1,023,961 in 2012  to 505,254 in 2017. Data was not available on the size of the cabotage 
market for transportation of merchandise goods.  
4.134.   The cruise industry is regulated by the PATT. This has been a growth industry, with an 
increase in cruise passenger arrivals from 17 ,745 in 2012 to 32,159 in 2017.  
                                                
83 Vision 2030. Viewed at: https://www.planning.gov.tt/sites/default/files/Vision%202030 -
%20The%20National%20Development%20Strategy%20of%20Trinidad%20and%20Tobago%202016 -
2030.pdf . 
84 Government online information. Viewed at: http://www.news.gov.tt/content/ministry -works -and-
transport -establish -maritime -authority#.W -6hB-QUmUk . WT/TPR/S/388 • Trinidad and Tobago  
 
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  4.135.   In 2017, the MTI released a Yachting Policy, as part of efforts to develop the maritime 
services sector, increase employment, and generate foreign exchange earnings. This was developed 
against the background of a fluctuating downward trend in the yachting industry, attributed by the 
authorities to: global factors such as declining economies; the construction of better infrastructure 
in other parts of the Caribbean; and Trinidad and Tobago's onerous immigration and customs 
procedures. The Policy notes Trinidad and Tobago's strategic geographic location below the hurricane 
belt, giving it an advantage in the provision of storage and yacht repair and maintenance services. 
The Policy contains various recommendations in the areas of  product development; changes to the 
legal and regulatory framework; and human resource and environmental and social development.85 
According to the authorities, an implementation plan is being executed.  
4.136.   With respect to incentives available to the maritime sector, locally registered firms engaged 
in ship building and ship repair may import machinery, equipment and materials duty free. Firms in 
the sector may also benefit from free zone status (Section 3.2.4.2); currently, one transhipment 
firm is operating u nder this regime. As indicated by the authorities, the cruise and yachting industries 
may qualify as a "tourism project" and be eligible for benefits under the Tourism Development Act 
(Section 4.5.4).  
4.137.   Trinidad and Tobago does not maintain an open maritime registry. It is a member of the 
International Maritime Organization (IMO) and has ratified several of its conventions. It is also a 
signatory to the United Nations Code of Conduct on Liner Conferences Convention. It has not entered 
into any new maritime -related conventions or treaties since 2012.  
4.5.3.1.2   Ports  
4.138.   There have been no changes to the legislation governing ports in Trinidad and Tobago since 
2012: the Harbours Act and the Port Authority Act.  
4.139.   The Customs and Excise Division of the MOF has responsibility fo r overseeing the 
establishment of new ports. Transportation policy and formulation is the responsibility of the Ministry 
of Works and Transport. Trinidad and Tobago has three major seas ports: Port of Port of Spain and 
Point Lisas Port in Trinidad, and Por t of Scarborough in Tobago (see below). There are 27 other port 
facilities, which are overseen by the PATT. According to the authorities, foreign investment in ports 
is not restricted, as long as the normal permissions have been obtained. A cooperation agr eement 
was signed between Trinidad and Tobago and a Chinese company in 2018 to create a drydocking 
facility at La Brea; it will provide inspection, ship repairs and maintenance for vessels crossing the 
West Atlantic.86 Additionally, a proposal has been made  to build a port at Toco in the north -east of 
the country, with supporting road infrastructure, which would support cabotage services between 
Trinidad and Tobago.  
4.140.   The port of Port of Spain is the country's largest port, and handles all major dry cargoes, 
container and general cargo, and break bulk cargo. In 2018, it handled 267,752 TEUs, down from 
381,232 TEUs in 2013. Around 33% of containerized and 27% of non -containerized cargo arriving 
at this Port is transhipped. In 2018, it recorded 20.5 container mov es per hour.  
4.141.   Point Lisas Port is a multi -purpose port. It has specialized installations for loading industrial 
cargo, and infrastructure for the handling of containers and general cargo. Over the period 2012 -18, 
it handled  an average of around 186,000 TEUs  of containerized cargo per year, and an average of 
304,503 tonnes of general cargo. In 2018, it recorded 26 container moves per hour.  
4.142.   Scarborough Port is mainly used for inter -island passenger and cargo transport, and 
international cruise ships. Cargo han dled at this port averaged just over 4,000 TEUs per year over 
the period 2014 -18. 
4.143.   The Port of Spain and the Port of Scarborough are managed by the PATT, a statutory body 
under the responsibility of the Ministry of Works and Transport. A unit within the PAT T, the Port of 
Spain Infrastructure Company (POSINCO), acts as landowner and lease operator of the PATT. 
Another unit, the Port of Port of Spain (PPOS) manages container and cargo -handling operations. 
                                                
85 MTI Yachting Policy. Viewed at: https://tradeind.gov.tt/yachting -policy -trinidad -tobago . 
86 Trinidad and Tobago Guardian online information. La Brea docking facility creating 5,000 jobs , 7 
September 2018. Viewed at: www.guardian.co.tt . WT/TPR/S/388 • Trinidad and Tobago  
 
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  The PATT had operated at a loss for several years until  2018 when it posted a profit; the Government 
has been providing funding for the repayment of loans as well as certain projects.87 Apparently, 
measures taken to restore the PATT to profitability included a reduction in overtime expenditure, 
and increased re venue through a growth in market share. Point Lisas Port is managed by the Point 
Lisas Port Development Company (PLIPDECO); it is a public company which is 51% owned by the 
Government, and 49% owned by private shareholders.88 It operated at a profit over th e review 
period. Trinidad and Tobago has no restrictions on foreign suppliers of auxiliary port services; 
however, information was not available on whether foreign suppliers are present in the market, in 
practice.  
4.144.   Apparently, there have been some efficienc y gains through: the purchase of new container 
scanning equipment; the upgrade of customs software to ASYCUDA World; the 2013 amendments 
to the Customs Act requiring the provision of advance cargo information, thus enabling advance 
import document processi ng and risk assessment  (Section 3.1.1); a change in the terminal operating 
system software at Port of Spain and Point Lisas; and the implementation of a new vessel traffic 
management system  at Point Lisas . Additionally, in 2016, a new e -maritime function w ent live on 
TTBizLink, which allows for the e -processing of vessel arrivals and departures at the major ports. 
However, vessel and cargo management challenges at the Port of Port of Spain still persist, and 
include: channel restrictions which limit the siz e of vessels that can be accommodated at ports; lack 
of funds for the upgrade/replacement of poor/deteriorating infrastructure; administrative challenges 
generated by stakeholders and customs, resulting in congestion due to excessive dwell time of cargo; 
lack of equipment to deal with certain types of cargo; and unproductive working practices built into 
industrial agreements.89 
4.5.3.2   Air transport  
4.145.   Policy formulation and implementation for the airline sector is the responsibility of the 
Ministry of Works and Transp ort. The Trinidad and Tobago Civil Aviation Authority (TTCAA) is the 
regulator for the industry. The Civil Aviation Act, last amended in 2003, and the Airports Authority 
Act, last amended in 2007, are the main laws governing the sector.  
4.146.   Under the Civil Avi ation Act, the TTCAA is, inter alia,  responsible for: regulating civil aviation 
operations in the territory, as well as the operation of maintenance organizations in respect of aircraft 
on the Trinidad and Tobago register; issuing, renewing and amending ci vil aviation licences and 
collecting the respective fees; and providing a system of air traffic services. The Authority is also 
responsible for aviation safety and security, and for maintaining a national aircraft register. Under 
the Civil Aviation (Tender s Committee) Rules, 2004, TTCAA contracts cannot be awarded to non -
residents, foreign companies or partnerships without prior written approval from the Minister. As 
noted in the previous Review, apparently this is for monitoring purposes.90 
4.147.   In 2017, there w ere 1,938,204 international passenger movements to and from Trinidad and 
Tobago by air transport , and 958,836 domestic passenger movements. In the same year, just over 
10.5 million  kg of exports merchandise goods were transported through this mode , and just over 
14.5 million  kg of imports.  
4.148.   There are four nationally -registered air operators; Caribbean Airlines, which is also the 
national carrier which provides international passenger and cargo services to destinations in the 
Caribbean and North and South Ame rica, and three helicopter operators. Information was not 
available regarding the Government's equity stake in these operators. It appears that Caribbe an 
Airlines reaches a government subsidy (Section 3.3.5).  
4.149.   Under the CARICOM Multilateral Air Services Agr eement, CARICOM -designated air carriers 
can offer all types of air services within CARICOM. The Agreement also establishes guidelines on 
competition, fares and security. Trinidad has 20 bilateral air services agreements (ASAs), the most 
                                                
87 As reported by the authorities, the PATT posted a loss of over TTD 12.7 million in 2017, followed by a 
profit of just over TTD 8.7 million in 2018.  
88 PLIPDECO  online information. Viewed at: http://www.plipdeco.com/main/index.php?page=corporate -
overview . 
89 Joint Select Committee inquiry into the administration and operations of the PATT. Viewed at: 
http://www.ttparliament.org/reports/p10 -s5-J-20150313 -JSC2-r19-PATT.pdf . 
90 WTO document WT/TPR/S/260/Rev.1, 2 May 2012.  WT/TPR/S/388 • Trinidad and Tobago  
 
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  liberal of which ar e those with Canada and the United States. Since 2012, a new ASA entered into 
force with India, and a revised ASA entered into force with Canada. Additionally, Trinidad and Tobago 
has MOUs with a number of countries. Non -CARICOM airlines are subject to cab otage restrictions 
for both cargo and passenger transportation.  
4.150.   There are two international airports, the Piarco International Airport in Trinidad and the ANR 
Robinson International Airport in Tobago. In 2018, there were 15 international airlines operatin g out 
of Piarco and 5 operating out of ANR Robinson.91 Both airports are owned and managed by the 
government -controlled Airports Authority of Trinidad and Tobago. As noted in the previous Review, 
airports may only be built and owned by the Government and op erated by the Airports Authority. 
The latter issues tenders for ground handling and auxiliary services locally, regionally and 
internationally; there are foreign providers present in the market.  Construction of a new terminal 
and associated works is forese en at ANR Robinson International Airport (Section 3.3.5).  
4.151.   A departure tax  of TTD 100  is levied on all persons over five years old departing from Trinidad 
and Tobago's airports to a foreign country.  
4.5.4   Tourism  
4.152.   In 2017, the tourism sector accounted for 2.8% of GDP, and for 3.7% of total employment. 
However, the indirect contribution of tourism to the economy is estimated at 7.7%  of GDP. In 2017, 
there were 394,650 visitor arrivals; the largest source market was the United States, which 
accounted for 43% of arriv als, followed by: the Caribbean (19.8%); Canada (13.3%); and the United 
Kingdom (8%). The main purpose for tourist arrivals was to visit friends and family; thereafter, 
reasons included leisure/beach vacations, and for business/attending conventions.92 
4.153.   There have been no changes, since 2012, to the law governing the tourism sector, the 
Tourism Development Act (Chap. 87:22). The Ministry of Tourism remains responsible for tourist 
policy formulation. The Tourism, Culture and Transportation Division of the Toba go House of 
Assembly is charged with establishing, standardizing and sustaining the island's tourism product.  
4.154.   In 2017, the Tourism Development Company was dissolved, and two new bodies were 
established: (a) the Tourism Trinidad Destination Management Compa ny Limited (Tourism Trinidad 
Limited),  whose mandate is to develop and market Trinidad's tourism offerings; and (b) the Tobago 
Marketing and Product Development Company (Tobago Tourism Agency), which is responsible for 
developing and marketing Tobago's tou rism offerings as well as undertaking product development 
and research. It is foreseen that a Trinidad and Tobago Regulatory and Licensing Authority (TTRLA) 
will be established to develop and enforce regulations, standards and quality control; generate tax  
revenues; and provide guidelines on training and skills development.  
4.155.   Trinidad and Tobago's 2010 National Tourism Policy (NTP), in place at the time of the 
previous Review, remains the key document guiding the development of the sector.93 However, this 
will be revised in 2019 to reflect changes in the global environment impacting the local tourism 
sector, such as the use of social media and new information technology platforms, as well as to align 
it with Vision 2030 (Section 2) and the United  Nations Sustai nable Development Goals 2030. It is 
envisaged that the revised NTP will be followed by the development of a comprehensive Tourism 
Master Plan in 2020, which will guide the sustainable growth and development of the tourism sector 
until 2030.94 
4.156.   In 2016, a Sta nding Committee for the Strategic and Sustainable Development of Tourism 
in Trinidad was established, which, following research and consultations with stakeholders, issued a 
Tourism Road Map, 2016 -20 for Trinidad, which offers guidance in developing plans for marketing 
and product development, and frames strategies and programmes for the sustainable development 
of the tourism sector. It suggests that Trinidad's unique selling point should be business tourism 
                                                
91 Airports Authority online information. Viewed at: 
http://www.tntairports.com/NEW/the_airports.html#internationl . 
92 Information provided by the authorities.  
93 National Tourism Policy. Viewed at: https://www.ema.co.tt/images/Files/ policies/tourism_policy.pdf . 
94 As reported by the authorities, a consultant will be engaged to develop the Tourism Master Plan; and, 
in preparation, the Ministry of Tourism has compl eted consultations on various sub -policies (on ecotourism, 
sport tourism and community -based tourism) which will be used as inputs into the Plan's development.  WT/TPR/S/388 • Trinidad and Tobago  
 
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  with a focus on the meetings, incentives, confere nces and exhibitions (MICE) industry, with 
supporting niches being event tourism and eco -tourism.  
4.157.   According to the authorities, to address challenges facing the tourism sector, there is a need 
for: increased investment, improved infrastructure, increased d estination promotion, more airlift; 
better linkages with other sectors, improved safety and security; and greater buy -in from the public 
regarding the sector's potential.  
4.158.   The only tax applicable directly to the tourism sector is the Room Tax, which is appl ied at 
the rate of 10% of the proceeds of letting the room. Over the period 2012 -16, annual income 
generated from this Tax has ranged from just over TTD 46 million to just over TTD 64 million.  
4.159.   Incentives for investment in the tourism sector are covered under the Tourism Development 
Act, 2000, as amended in 2006. Under the Act, incentives for approved tourism projects include a 
seven -year tax exemption for the gains or profits from an approved tourism project, and a tax 
exemption for gains or profits deri ved from the initial sale of a villa or condominium or a site that is 
part of an integrated resort development which is an approved tourism project. Any dividends from 
an approved tourism project made to non -residents are exempt from tax. Additionally, app roved 
tourism projects may also be granted accelerated depreciation on equipment and capital allowances 
on approved capital expenditure. Importers of vehicles to be used in the tourism transportation 
industry are eligible to apply for a preferential custom s duty rate of 10%, with 0% motor vehicle 
tax. As from 2018, a maximum engine size has been stipulated.  
4.160.   Imports of building materials and articles of tourism equipment used in a tourism project 
are granted customs and excise duty exemptions; for purchases made locally, companies are 
permitted duty drawbacks for building materials and articles of "tourism equipment" that were not 
already duty free (the  VAT is still payable). To be eligible for the incentives, any accommodation 
project must have a minimum of ten guestrooms; approval depends on the amount of capital 
invested, the financial risk assumed, the contribution made or likely to be made to the sustainable 
development of the tourism industry, and the achievement of national tourism objectives.  
4.161.   The follo wing tourism incentives are reserved solely for Trinidad and Tobago and CARICOM 
nationals: accommodation facilities with fewer than 21 rooms, transport services, ground tour 
operations or destination management companies, and dive operations.95 Foreigners a re eligible to 
apply for all other fiscal incentives.  
4.162.   Over the period 2012 -17, revenue foregone from these incentives has ranged from 
TTD 5.8 million to TTD 26.0 million (Table 4.20). According to the authorities, there are plans to 
review the suite of inc entives offered in the tourism sector, to see what adjustments can be made 
to provide the most favourable conditions for investment. This is in light of the Government's 
commitment to diversify the economy and boost revenue from tourism, particularly in th e wake of 
shocks to the energy sector (Sections 1 and 4.3).  
Table 4.20 Revenue foregone from tourism -related fiscal incentives, 2012 -17 
(TTD million ) 
 2012  2013  2014  2015  2016  2017  
Tourism vehicle projects  2.8 2.0 2.7 5.1 2.6 0.9 
Tourism accommodation projects  2.7 14.8 9.3 0.5 3.7 4.7 
Tourism ancillary projects  0.3 0.3 1.8 20.4 2.6 14.3 
Total revenue foregone  5.8 17.1 13.8 26.0 8.9 19.9 
Source:  Information provided by the Investments Facilitation and Monitoring Unit, Ministry of Tourism . 
4.163.   Since FY2009/10, reimbursable grants for certain upgrade works to accommodation facilities 
have been available through the Trinidad and Tobago Tourism Accommodation Upgrade Project; this 
initiative is scheduled to run until September 2020. Since December 2017, when thresholds were 
increased for the period 2018 -20, it involves the reimbursement of up to 40% -50% of capital spent 
                                                
95 Tourism Development Act, Section 9.  WT/TPR/S/388 • Trinidad and Tobago  
 
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  on upgrades per room, up to a limit of TTD 150,000 per room, for properties of one to five roo ms, 
and TTD 1.5 million for properties with six to 150 rooms.96 
4.164.   Additionally, in 2012, a Government Loan Guarantee Programme (GLG) was implemented, 
with a view to supporting PPPs with internationally -branded hotels, to expand the quality of the room 
stock in Trinidad and Tobago.97 This involved the establishment of the Tobago Tourism Development 
Fund as a corporate body and fully state -owned enterprise, administered by EXIMBANK. It had an 
initial capital injection of TTD 60 million in 2012 -13, with no furthe r capital contributions thereafter. 
The Fund provides resources for (a) debt restructuring for tourism and tourism -related business; 
and (b)  the upgrade and maintenance of hotels with less than 50 rooms, and ancillary businesses. 
The Fund issues letters of  undertaking to the four financial institutions, who set their own interest 
rates for borrowers. The letters of undertaking are up to a maximum of TTD 10 million for each 
borrower, with up to 50% of the outstanding principal and interest balance on existin g loan facilities 
and 100% of new loan facilities. Effective December 2017, the Government approved an interest 
rate subsidy of 5% (up from 2%), and extended the loan term from 7 to 15 years.  
 
                                                
96 Trinidad and Tobago Tourism Accommodation Upgrade Projec t online information. Viewed at: 
http://www.tourism.gov.tt/Resources/Incentives/Tourism -Accommodation -Upgrade -Project -TAUP. Information 
updated by the  authorities due to threshold changes implemented in December 2017.  
97 As noted by the authorities, the Fund was established to assist the affected tourism industry of 
Tobago, where poor occupancy rates, coupled with the global economic downturn, made loan financing for 
tourism or tourism -related projects much more difficult. Property owners/operators were facing severe 
challenges in meeting their loan service payments.  WT/TPR/S/388 • Trinidad and Tobago  
 
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  5  APPENDIX TABLES  
Table A1. 1 Merchandise exports by HS sections and main chapters, 2012 -17 
(USD million and %)  
Description  2012  2013  2014  2015  2016  2017  
Total exports  12,864  18,661  14,520  10,748  7,633  9,148    
(% of total exports)  
1 - Live animals; animal products  0.2 0.1 0.1 0.2 0.3 0.3  
03. Fish and crustaceans, molluscs and other aquatic 
invertebrates  0.1 0.1 0.1 0.1 0.2 0.2 
2 - Vegetable products  0.1 0.1 0.1 0.2 0.3 0.2 
3 - Animal or vegetable fats and  oils; prepared edible 
fats 0.1 0.1 0.1 0.1 0.1 0.1 
4 - Prepared foodstuffs; beverages, spirits and vinegar; 
tobacco  2.7 1.8 2.3 3.3 4.5 9.6 
 
22. Beverages, spirits and vinegar  1.1 0.7 1.0 1.4 1.5 7.1  
19. Preparations of cereals, flour, starch or milk  0.5 0.4 0.5 0.7 1.0 0.9  
21. Miscellaneous edible preparations  0.2 0.1 0.2 0.2 0.6 0.5  
24. Tobacco and manufactured tobacco substitutes  0.5 0.3 0.3 0.4 0.5 0.4  
20. Preparations of vegetables, fruit, nuts or other 
parts of plants  0.3 0.2 0.2 0.3 0.4 0.3 
5 - Mineral products  56.0 61.3 56.8 47.2 36.4 45.5  
27. Mineral fuels, mineral oils and products of their 
distillation  51.1 59.6 55.7 44.4 33.2 45.1 
 
25. Salt; sulphur; earths and stone; plastering 
materials, lime and cement  0.2 0.1 0.7 0.3 0.3 0.3 
 
26. Ores, slag and ash  4.7 1.6 0.4 2.6 2.9 0.1 
6 - Products of the chemical or allied industries  24.6 21.4 27.2 31.6 42.3 29.3  
29. Organic chemicals  7.3 6.0 11.0 11.0 8.9 13.7  
28. Inorganic chemicals; organic or inorganic 
compounds of precious metals  14.0 13.8 12.7 15.3 22.1 11.1 
 
31. Fertili zers 2.6 1.3 3.1 4.6 10.4 3.8 
7 - Plastics and articles thereof; rubber and articles 
thereof  0.3 0.3 0.3 0.4 0.6 0.5 
 
39. Plastics and articles thereof  0.3 0.3 0.3 0.4 0.6 0.5 
8 - Raw hides and skins, leather, furskins and articles 
thereof; travel goods, handbags; articles of animal gut  0.0 0.0 0.0 0.0 0.0 0.0 
9 - Wood and articles of wood; wood charcoal; cork and 
articles of cork  0.0 0.0 0.0 0.0 0.1 0.0 
10 - Pulp of wood or of other fibrous cellulosic material; 
paper and paperboard and articles thereof  0.6 0.4 0.5 0.6 1.3 0.8 
 
48. Paper and paperboard; articles of paper pulp, of 
paper or of paperboard  0.5 0.4 0.4 0.6 1.2 0.7 
 
49. Printed books, newspapers, pictures and other 
products of the  printing industry  0.1 0.1 0.1 0.1 0.1 0.1 
11 - Textiles and textile articles  0.1 0.1 0.1 0.1 0.1 0.1 
12 - Footwear, headgear, umbrellas; prepared feathers 
and articles; artificial flowers  0.0 0.0 0.0 0.0 0.0 0.0 
13 - Articles of stone, plaster, cement,  etc.; ceramic 
products; glass and glassware  0.1 0.1 0.1 0.1 0.2 0.2 
 
70. Glass and glassware  0.1 0.1 0.1 0.1 0.2 0.1 
14 - Natural or cultured pearls, precious or semi -
precious stones, precious metals  0.0 0.0 0.0 0.1 0.0 0.0 
15 - Base metals and articles of base metal  4.3 9.6 8.2 5.9 4.4 6.6  
72. Iron and steel  3.9 9.3 7.9 5.4 3.8 6.2  
73. Articles of iron or steel  0.3 0.2 0.2 0.4 0.4 0.2  
82. Tools, implements, cutlery, spoons and forks, of 
base metal  0.0 0.0 0.0 0.0 0.1 0.1 
16 - Machinery and mechanical appliances; electrical 
equipment; television image and sound recorders  2.6 0.9 1.0 1.4 2.4 2.0 
 
84. Nuclear reactors, boilers, machinery and 
mechanical appliances  2.3 0.7 0.8 1.1 2.1 1.7 
 
85. Electrical machinery and equipment; sound 
recorders and reproducers  0.3 0.2 0.2 0.2 0.3 0.3 
17 - Vehicles, aircraft, vessels and associated transport 
equipment  7.9 3.7 2.5 8.3 6.5 4.1 
 
89. Ships, boats and floating structures  7.2 3.3 2.2 6.5 5.5 3.3  
88. Aircraft, spacecraft, and parts thereof  0.6 0.4 0.3 1.7 0.8 0.6 WT/TPR/S/388 • Trinidad and Tobago  
 
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  Description  2012  2013  2014  2015  2016  2017  
18 - Optical, photographic, precision, medical or surgical 
instruments; clocks and watche s; musical instruments  0.2 0.0 0.4 0.2 0.3 0.3 
 
90. Optical, photographic, cinematographic, 
measuring, precision, medical or surgical instruments 
and apparatus  0.1 0.0 0.4 0.2 0.3 0.3 
19 - Arms an d ammunition  0.0 0.0 0.0 0.0 0.0 0.0 
20 - Miscellaneous manufactured articles  0.2 0.1 0.1 0.2 0.2 0.2 
21 - Works of art, collectors' pieces and antiques  0.0 0.0 0.0 0.0 0.0 0.0 
Others  0.0 0.0 0.1 0.1 0.0 0.0 
Source:  WTO Secretariat estimates, based on data provided by the authorities.  
  WT/TPR/S/388 • Trinidad and Tobago  
 
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  Table A1. 2 Merchandise imports by HS sections and main HS chapters, 2012 –17 
(USD million and %)  
Description  2012  2013  2014  2015  2016  2017  
Total  11,608  12,590  11,251  9,243  8,052  6,901    
(% of total imports)  
1 - Live animals; animal products  1.9 2.0 2.4 2.7 2.7 3.5  
04. Dairy produce; birds' eggs; natural honey; e dible 
products of animal origin  0.9 1.0 1.2 1.3 1.3 1.8 
 
02. Meat  and edible meat offal  0.7 0.7 0.8 1.0 1.0 1.3  
03. Fish and crustaceans, molluscs and other aquatic 
invertebrates  0.2 0.3 0.3 0.4 0.3 0.4 
2 - Vegetable products  2.1 1.9 2.1 2.4 2.6 3.0  
10. Cereals  0.9 0.8 0.8 0.8 0.9 1.0  
07. Edible vegetables and certain roots and tubers  0.4 0.4 0.5 0.6 0.7 0.8  
08. Edible fruit and nuts;  peel of citrus fruit or melons  0.3 0.3 0.3 0.4 0.4 0.5  
11. Products of the milling industry; malt;  starches; 
inulin; wheat gluten  0.2 0.2 0.2 0.2 0.2 0.3 
3 - Animal or vegetable fats and oils; prepared edible fats  0.6 0.5 0.5 0.6 0.6 0.8 
4 - Prepared foodstuffs; beverage s, spirits and vinegar; 
tobacco  4.2 4.1 4.7 6.0 6.3 6.8 
 
21. M iscellaneous edible preparations  0.7 0.7 0.8 1.0 1.1 1.2  
22. Beverages, spirits and vinegar  0.7 0.7 0.9 1.2 1.1 1.1  
20. Preparations of vegetables, fruit , nuts or other 
parts of plants  0.6 0.6 0.7 0.8 0.9 1.0 
 
19. Preparations of  cereals, flour, starch or milk  0.5 0.5 0.7 0.8 0.9 1.0 
5 - Mineral products  45.5 54.0 47.2 31.6 28.4 28.5  
27. Mineral fuels, mineral oils and products of their 
distillation  41.8 51.0 43.4 28.5 25.4 23.7 
 
26. Ores, slag and ash  3.3 2.7 3.4 2.7 2.7 4.5 
6 - Products of the chemical or allied industries  5.1 4.5 4.9 6.1 6.7 7.3  
30. Pharmaceutical products  1.2 1.2 1.3 1.6 1.7 2.1  
38. Miscellaneous chemical products  1.7 1.2 1.2 1.5 1.8 1.7  
33. Essential oils and resinoids; perfumery, cosmetic or 
toilet preparations  0.6 0.6 0.7 0.9 1.0 1.1 
7 - Plastics and articles thereof; rubber and articles 
thereof  2.5 2.5 2.8 3.4 3.5 3.9 
 
39. Plastics and articles thereof  1.9 1.8 2.2 2.7 2.8 3.1 
8 - Raw hides and skins, leather, furskins and articles 
thereof; travel goods, handbags; articles of animal gut  0.1 0.1 0.1 0.1 0.1 0.1 
9 - Wood and articles of wood; wood charcoal; cork and 
articles of cork  0.5 0.5 0.6 0.7 0.6 0.7 
 
44. Wood and articles of wood; wood charcoal  0.5 0.5 0.6 0.7 0.6 0.7 
10 - Pulp of wood or of other fibrous cellulosic material; 
paper and paperboard and articles thereof  1.8 1.6 1.8 2.0 1.9 2.1 
 
48. Paper and paperboard; articles of paper pulp, of 
paper or of paperboard  1.2 1.2 1.3 1.5 1.4 1.5 
11 - Textiles and textile articles  0.9 0.9 1.0 1.4 1.4 1.5  
62. Articles of apparel and clothing access ories, not 
knitted or crocheted  0.2 0.2 0.3 0.4 0.4 0.4 
 
63. Other made up textile articles  0.2 0.2 0.2 0.3 0.3 0.3 
12 - Footwear, headgear, umbrellas; prepared feathers 
and articles; artificial flowers  0.3 0.3 0.3 0.4 0.4 0.4 
13 - Articles of stone, plaster, cement, etc.; ceramic 
products; glass and glassware  0.7 0.7 0.8 1.0 1.0 0.9 
14 - Natural or cultured pearls, precious or semi -precious 
stones, precious metals  0.1 0.1 0.1 0.1 0.1 0.1 
15 - Base metals and articles of base metal  4.3 4.5 5.6 6.8 6.0 7.2  
73. Articles of  iron or steel  2.0 2.2 2.8 3.3 3.1 3.7  
72. Iron and steel  1.1 1.2 1.6 1.8 1.5 1.9  
76. Aluminium and articles thereof  0.4 0.3 0.4 0.5 0.5 0.5 
16 - Machinery and mechanical appliances; electrical 
equipment; television image and sound recorders  11.7 11.7 12.6 18.7 17.7 17.6 
 
84. Nuclear reactors, boilers, mach inery and 
mechanical appliances  8.2 8.7 8.8 12.5 13.1 12.3 
 
85. Electrical machinery and equipment; sound 
recorders and reproducers  3.4 3.1 3.9 6.2 4.7 5.2 
17 - Vehicles, aircraft, vessels and associated transport 
equipment  15.3 7.4 9.8 12.3 16.1 11.5 WT/TPR/S/388 • Trinidad and Tobago  
 
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  Description  2012  2013  2014  2015  2016  2017   
87. Vehicles other than railway or tramway rolling -
stock, parts and accessories  4.0 4.6 5.6 7.1 6.5 6.9 
 
89. Ships , boats and floating structures  9.8 2.3 3.1 3.6 8.7 3.3  
88. Aircraft , spacecraft, and parts thereof  1.5 0.4 0.9 1.5 0.8 1.2 
18 - Optical, photographic, precision, medical or surgical 
instruments; clocks and watche s; musical instruments  1.2 1.1 1.2 1.8 1.5 1.6 
 
90. Optical, photographic, cinematographic, 
measuring, precision, medical or sur gical instruments 
and apparatus  1.2 1.1 1.2 1.8 1.5 1.6 
19 - Arms an d ammunition  0.0 0.0 0.0 0.1 0.0 0.0 
20 - Miscellaneous manufactured articles  1.1 1.5 1.2 1.7 2.2 2.5  
94. Furniture; bedding, mattresses, mattress supports, 
cushions and similar stuffed furnishings  0.8 1.2 0.8 1.1 1.4 1.5 
21 - Works of art, collectors' pieces and antiques  0.0 0.0 0.0 0.0 0.0 0.0 
Others  0.1 0.1 0.1 0.1 0.1 0.1 
Source:  WTO Secretariat estimates, based on data provided by the authorities.  
  WT/TPR/S/388 • Trinidad and Tobago  
 
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  Table A1. 3 Merchandise exports by trading partner, 2012 -17 
(USD million and %)  
Description  2012  2013  2014  2015  2016  2017  
Total exports  12,864  18,661  14,520  10,748  7,633  9,148   
(% of exports)  
Americas  78.5 84.3 82.6 80.0 77.2 78.4 
United States  47.9 41.8 45.0 41.7 41.5 38.7 
Other America  30.6 42.5 37.5 38.3 35.6 39.7 
Saint Martin  0.2 0.5 0.3 0.2 0.1 6.5 
Chile 1.6 2.2 3.0 3.6 5.7 3.6 
Jamaica  3.9 4.5 3.9 3.0 3.0 3.5 
Guyana  1.8 1.9 2.3 2.1 2.4 3.4 
Barbados  2.4 3.1 2.5 1.8 1.5 2.3 
Brazil  1.9 3.7 4.8 2.3 4.7 2.0 
Netherlands Antilles  0.2 0.7 0.8 0.0 0.2 1.7 
Colombia  1.9 5.1 3.0 4.0 2.2 1.6 
Suriname  2.3 2.1 1.2 1.4 1.1 1.5 
Argentina  4.9 4.1 3.4 6.7 2.8 1.3 
Mexico  0.9 0.4 1.4 1.1 1.3 1.1 
Canada  0.7 1.0 1.0 1.1 0.8 1.1 
Dominican Republic  1.1 1.6 1.3 1.4 1.1 1.1 
Europe  11.7 11.3 11.0 13.9 11.7 12.2 
EU-28 11.5 10.9 9.5 11.2 11.3 11.2 
Netherlands  4.0 3.6 2.2 1.6 3.2 2.5 
Spain  2.2 3.0 3.7 2.9 0.7 1.8 
France  0.9 0.6 0.7 1.9 1.5 1.7 
Belgium  0.3 0.6 0.7 1.3 1.3 1.5 
United Kingdom  2.2 2.3 1.3 1.9 1.4 1.3 
EFTA 0.1 0.4 1.3 2.4 0.3 0.6 
Switzerland  0.1 0.4 0.1 0.6 0.2 0.3 
Norway  0.0 0.0 1.2 1.8 0.0 0.3 
Other Europe  0.0 0.0 0.3 0.3 0.1 0.4 
Commonwealth of independent states (CIS)  0.0 0.0 0.0 0.0 0.0 0.0 
Africa  1.4 1.7 2.6 1.4 1.4 3.8 
Morocco  0.0 0.0 0.2 0.2 0.4 1.4 
Senegal  0.0 0.0 0.0 0.3 0.4 0.8 
Liberia  0.8 1.0 0.6 0.3 0.2 0.5 
Togo 0.0 0.0 0.1 0.2 0.0 0.4 
Ghana  0.0 0.1 0.2 0.2 0.0 0.2 
Middle East  4.2 0.2 0.9 0.6 1.7 0.7 
Israel  2.8 0.0 0.0 0.0 0.0 0.3 
United  Arab Emirates  1.4 0.1 0.8 0.4 0.9 0.2 
Jordan  0.0 0.0 0.0 0.0 0.8 0.1 
Asia 3.2 1.9 2.3 3.5 7.8 4.3 
China  0.1 0.1 0.4 0.9 0.7 1.3 
Japan  0.1 0.2 0.7 0.2 0.2 0.0 
Other Asia  2.9 1.6 1.1 2.4 6.9 3.0 
Korea, Republic of  0.3 0.4 0.3 1.2 1.3 2.0 
Chinese Taipei  0.0 0.1 0.1 0.2 0.4 0.4 
Singapore  0.0 0.7 0.4 0.4 3.9 0.2 
Hong Kong, China  0.0 0.1 0.1 0.1 0.1 0.2 
India 0.1 0.0 0.0 0.1 0.8 0.1 
Australia  0.0 0.0 0.0 0.0 0.0 0.1 
Other  1.1 0.6 0.7 0.6 0.2 0.5 
Memorandum:        
CARICOM  13.5 16.6 13.7 11.1 11.5 14.6 
Source:  WTO Secretariat estimates, based on data provided by the authorities.  WT/TPR/S/388 • Trinidad and Tobago  
 
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  Table A1. 4 Merchandise imports by trading partner, 2012 -17 
(USD million and %)  
Description  2012  2013  2014  2015  2016  2017  
Total imports  11,608  12,590  11,251  9,243  8,052  6,901   
(% of imports)  
Americas  56.6 51.5 44.6 49.0 45.5 48.9 
United States  30.9 21.8 21.8 32.1 31.5 26.1 
Other America  25.7 29.7 22.8 16.9 14.0 22.8 
Brazil  4.9 3.1 5.1 3.3 4.6 7.9 
Colombia  12.7 19.8 9.9 5.3 1.2 4.8 
Canada  2.0 1.8 2.1 2.4 2.4 3.4 
Mexico  1.3 1.2 1.1 1.5 1.7 2.0 
Costa Rica  0.4 0.4 0.4 0.6 0.6 0.7 
Barbados  0.8 0.7 0.8 0.4 0.4 0.5 
Guyana  0.5 0.3 0.3 0.4 0.4 0.5 
Dominican Republic  0.3 0.3 0.4 0.4 0.3 0.4 
Guatemala  0.3 0.3 0.2 0.3 0.3 0.3 
Chile 0.2 0.2 0.2 0.2 0.3 0.3 
Jamaica  0.1 0.1 0.2 0.2 0.2 0.3 
Panama  1.0 0.1 0.2 0.3 0.3 0.3 
Peru 0.1 0.1 0.2 0.2 0.2 0.2 
Argentina  0.2 0.1 0.1 0.1 0.1 0.2 
Uruguay  0.1 0.1 0.1 0.1 0.2 0.2 
Europe  12.2 9.8 11.4 16.5 17.3 13.7 
EU-28 9.4 9.2 10.5 10.5 14.0 11.9 
Germany  1.6 1.6 1.9 2.2 2.2 2.5 
United Kingdom  1.8 2.4 2.7 2.8 2.6 2.3 
Italy 1.3 1.4 0.8 1.7 1.5 2.1 
France  1.3 1.1 0.5 0.7 0.8 1.0 
Netherlands  1.5 0.4 0.5 0.8 1.9 0.8 
EFTA 2.4 0.3 0.4 5.6 2.9 0.9 
Norway  2.3 0.0 0.2 4.9 2.7 0.6 
Other Europe  0.3 0.4 0.5 0.5 0.5 0.9 
Turkey  0.3 0.4 0.5 0.5 0.5 0.9 
Commonwealth of independent states (CIS)  6.9 11.0 9.8 5.0 11.7 7.4 
Russian Federation  6.9 11.0 9.8 4.9 11.7 7.4 
Africa  11.5 15.8 20.6 12.5 8.6 7.6 
Gabon  10.6 15.2 20.0 12.2 8.3 5.8 
Libya 0.0 0.0 0.0 0.0 0.0 0.5 
Democratic Republic of the Congo  0.0 0.0 0.0 0.0 0.0 0.5 
Congo  0.0 0.0 0.0 0.0 0.0 0.5 
Middle East  0.2 0.2 0.1 0.4 0.2 0.2 
United Arab Emirates  0.0 0.1 0.1 0.1 0.1 0.1 
Israel  0.1 0.1 0.0 0.3 0.1 0.0 
Asia 12.7 11.8 13.4 16.6 16.7 22.2 
China  4.7 4.4 5.6 7.1 7.4 9.0 
Japan  2.0 2.2 2.3 2.9 2.5 3.6 
Other Asia  5.9 5.1 5.5 6.6 6.9 9.6 
Singapore  0.1 0.1 0.1 0.2 0.1 1.9 
Korea, Republic of  0.9 0.9 1.1 1.3 1.4 1.9 
Thailand  0.9 1.0 1.5 1.8 1.7 1.6 
India 2.4 1.5 0.9 1.2 1.0 1.4 
New Zealand  0.4 0.4 0.4 0.4 0.5 0.7 
Malaysia  0.3 0.3 0.3 0.4 0.9 0.4 
Chinese Taipei  0.4 0.3 0.3 0.4 0.3 0.4 WT/TPR/S/388 • Trinidad and Tobago  
 
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  Description  2012  2013  2014  2015  2016  2017  
Other  0.0 0.0 0.0 0.0 0.0 0.0 
Memorandum:        
CARICOM  1.9 1.5 1.7 1.7 1.5 1.7 
Source:  WTO Secretariat estimates, based on data provided by the authorities.  
  WT/TPR/S/388 • Trinidad and Tobago  
 
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  Table A2. 1 General constitutional and legal framework   
Constitution  The Constitution of the Republic of Trinidad and Tobago Act (Act 4 of 1976), last 
amended in 2007.  
Executive branch 
of the Government  
 Executive authority lies with the President who is Head of State, but is exercised by the 
Prime Minister and the Cabinet.  
The President is elected for a five -year term by the Electoral College (Senate and House 
of Representatives).  
Legislative branch  
 The bicameral Parliament consists of the Senate and the House of Representatives.  
The Senate (31 members) is appointed for a five -year term by the President.  
The House of Representatives (41 members) is elected by popular vote, for a five -year 
term.  
Judicia l branch  
 The judiciary is independent and is headed by a Chief Justice. It comprises a Supreme 
Court (made up of a High Court and an Appeals Court) and district courts (Magistracy). 
There is also an Industrial Court; and a Tax Appeals Board.  
Legislative process  
 Bills must be passed by both the House of Representatives and the Senate, and 
assented to by the President, to become law. Once assented to, bills are published as 
Acts of Parliament in the Trinidad and Tobago Gazette ( http://www.news.gov.tt ). 
International treaties and agreements must be incorporated into domestic law before 
they become legally binding in Trinidad and Tobago.  
 
Source:  WTO document WT/TPR/S/260/Rev.1, 2 May 2012; and the Constitution of the Republic of Trinidad 
and Tobago Act. Viewed at: http://rgd.legalaffairs.gov.tt/Laws2/Alphabetical_List/lawspdfs/1.01.pdf . 
  WT/TPR/S/388 • Trinidad and Tobago  
 
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  Table A3. 1 Origin restrictions under the Animals (Importation) Control Regulations   
  
Horses  Argentina, Australia, Canada, Commonwealth Caribbean Territories, France, Germany, 
United Kingdom, Martinique, New Zealand, Northern Ireland, Puerto Rico, Re public of 
Ireland, United States of America.  
 
Cattle, sheep, 
goats  Anguilla, Antigua, Barbados, Canada, United Kingdom, Grenada, Jamaica, Northern 
Ireland, Republic of Ireland, St. Kitts and Nevis, St. Lucia, St. Vincent, United States of 
America.  
 
Pigs Anguilla, Antigua, Barbados, Canada, United Kingdom, Grenada, Jamaica, Northern 
Ireland, Republic of Ireland, St. Kitts and Nevis, St. Lucia, St. Vincent, United States of 
America.  
 
Poultry and 
poultry carcases  Anguilla, Antigua, Australia, Barbados, Beli ze, Canada, Denmark, Dominica, France, 
United Kingdom, Grenada, Guyana, Israel, Jamaica, Montserrat, Netherlands, New 
Zealand, Northern Ireland, St. Kitts and Nevis, St. Lucia, St. Vincent, Sweden, United 
Kingdom, United States of America.  
 
Carcases of 
cattle, pigs, sheep 
and goats  Argentina, Australia, Belgium, Brazil, Canada, Chile, Commonwealth Caribbean 
Territories, Costa Rica, Croatia, Czech Republic, Denmark, Finland, France, Germany, 
United Kingdom, Honduras, Hungary, Iceland, Italy, Japan, Mexico , Netherlands, New 
Zealand, Nicaragua, Northern Ireland, Poland, Republic of Ireland, Romania, San 
Marino, Spain, Sweden, United Kingdom, United States of America, Uruguay.  
 
Beef Belize, Costa Rica, Nicaragua, Panama, Uruguay.  
 
Fodder and litter  Australi a, Canada, United Kingdom, Republic of Ireland, United States of America.  
Source:  Animals (Importation) Control Regulations, Schedules Three to Nine.  
  WT/TPR/S/388 • Trinidad and Tobago  
 
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  Table A4. 1 Major investment incentives to the agriculture sector  
(% of cost  and TTD)  
Programme  % of 
cost Maximum  
Vehicles    
New wheel tractor  20 50,000  
Used/refurbished wheel tractor  20 25,000  
New 4wd pickup/light goods vehicle or panel van  20 40,000  
Used 4wd pickup/light goods vehicle or panel van  20 30,000  
New 2wd pickup/light goods vehicle or panel van  20 25,000  
Used 2wd pickup/light goods vehicle or panel van  20 20,000  
New truck (max 5 tonnes)  20 60,000  
Used truck (max 5 tonnes)  20 40,000  
Combine harvester  20 200,000  
All-terrain vehicle  25 10,000  
Insulation for pickup/light goods vehicle  25 6,000  
Insulation and refrigeration of light goods vehicle  25 20,000  
Insulation and refrigeration of trucks  25 30,000  
Water for agriculture    
Cost to build pond  75 24,000  
Cost of establishing ponds, wells and dams  25 30,000  
Water pump 1.5 h.p. and over  50 20,000  
Cost of irrigation equipment/watering systems  50 40,000  
Land preparation/improvement    
Ploughing/rotovating/banking per ha 25 500 
Cost of clearing new lands per ha 25 2,000  
Machinery and equipment    
Trailers  50 4,000  
All machinery and equipment  50 50,000  
Soil amelioration    
Agriculture limestone per ha 50 1,500  
Soil conservation (establishment)    
Contour drains per 30 m  100 150 
Storm drains per 30 m  100 175 
Contour banking and contour ridging per ha 100 1,000  
Contour barriers per 30 m  100 75 
Terrace outlets per 30 m  100 120 
Check dams  50 200 
Protected agriculture systems    
Fully enclosed shade houses per m2 50 250 
Partially -enclosed shade houses per m2 50 100 
Security    
Security systems  50 30,000  
Fencing farmland and pastures  50 25,000  
Waste management    
Cost of establishment of biodigesters  100 10,000  
Integrated pest management    
Environmentally -friendly chemicals  50 3,000  
Approved materials including bio -agents  50 3,000  
Post-harvest and marketing    
Post-harvest facilities establishment  40 10,000  
Packaging material  50 4,000  
Post-harvest equipment  50 30,000  
New chill facility  30 30,000  
Upgrade of HACCP facilities  40 40,000  
Agro -processing    
Agro-processing facilities refurbishment  50 20,000  
Agro-processing facilities establishment  50 50,000  
Packaging material cost per year  50 15,000  
HACCP upgrade  40 40,000  WT/TPR/S/388 • Trinidad and Tobago  
 
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  Programme  % of 
cost Maximum  
New farmers (youth in agriculture)    
Start-up costs  50 30,000  
Product -specific support    
Crops    
Citrus establishment per ha 100 6,000  
Citrus rehabilitation per ha 100 4,000  
Cocoa/coffee establishment per ha 100 6,000  
Cocoa/coffee rehabilitation per ha 100 4,000  
Cocoa fermentaries establishment  10 10,000  
Coconut establishment per ha 100 6,000  
Coconut rehabilitation per ha 100 4,000  
Livestock    
Cattle/ buffalo    
Pasture/fodder bank establishment  50 6,000  
Housing, infrastructure and waste disposal  50 30,000  
Milking system and/or bulk tank cooler  50 50,000  
Goat s and sheep    
Pasture/fodder bank establishment  50 6,000  
Housing infrastructure and waste disposal  50 30,000  
Imported semen and embryos per year  50 20,000  
Imported breeding stock per animal  100 2,500  
Pigs   
Housing, infrastructure and waste disposal  50 30,000  
Imported stock per animal  100 2,500  
Poultry    
Housing and infrastructure  30 75,000  
Rabbits    
Rabbitr y establishment and construction  50 15,000  
Slaughtering facilit y establishment and operation  50 24,000  
Source:  MOF, Major Investment Incentives in Trinidad and Tobago . Viewed at: 
http://www.finance.gov.tt/wp -content/uploads/2017/08/MOF -Investment -Incen tives-in-Trinidad -
and-Tobago -web.pdf . 
  WT/TPR/S/388 • Trinidad and Tobago  
 
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  Table A4. 2 Energy sector tax incentives, 2018  
Incentive  
(applicable tax)  Description  Act 
INCENTIVES IN THE UPSTREAM SECTOR  
Exploration 
allowance  
(PPT)  Year 1 – 100% (no uplifts allowed for deep water or deep horizon)  Petroleum 
Taxes Act  
Deepwater  
(PPT)  1. Exploration:  
(a) capitalized as 140% of expense (capital expenditure incurred in 
respect of drilling of exploration wells in deep horizon are granted 
capital allowances on the exploration expenditure calculated by 
reference to 140% of such expenditure, subject to certa in conditions) 
(NB Cannot qualify for 100% write -off in year 1)  
(b) PPT Tax rate reduced to 35%  
2. PPT Rate: water depth reduced to 400m (for tax purposes).  
 Petroleum 
Taxes Act  
Exploration Incentive 
(Deep Horizon)  
(PPT)  Capitalized as 140% of expense.  
Conditions apply: Land True Vertical Depth (TVD) >8,000ft. Marine 
TVD >12,000 ft. (NB: Cannot qualify for 100% write -off in year 1).  
 Petroleum 
Taxes Act  
Workovers/Qualifying 
side-tracks  
(PPT)  Intangible: 100%  
Tangible: 100% (an allowance of 100% of the  total costs of work -
overs and qualifying side -tracks in the year incurred).  
 Petroleum 
Taxes Act  
Heavy oil allowance  
(PPT)  Year 1 – 60%; Years 2 -6 – 18% (Results in uplift of 50%)  
100% in year hole plugged and abandoned. Applicable to all dry 
holes.  
 Petroleum 
Taxes Act  
Plant and Machinery 
(Tangible)  
 Initial allowance – 50% of development costs.  
Year 2 – 30% 
Year 3 – 20%.  Income Tax 
(in Aid of 
Industry) 
Act 
 
Mines, oil wells, etc. 
(Intangible)  
 Initial allowance – 50% of development costs.  
Year 2 – 30% 
Year 3 – 20%.  Income Tax 
(in Aid of 
Industry) 
Act 
 
Sustainability 
Incentive  
(SPT)  20% discount on rate of SPT applicable to mature marine and small 
marine oilfields.  Petroleum 
Taxes Act  
Investment Tax 
Credit  
(SPT)  Allows companies to claim 20% of t he expenditure on development 
activity for mature fields and enhanced oil recovery projects as credit 
against their SPT liability.  
 Petroleum 
Taxes Act  
New Field 
Development  
(SPT)  A special SPT rate of 25% was approved for new field developments 
at prices  above USD 50/bbl up to USD 90/bbl. Thereafter, for prices 
above USD 90/bbl and up to USD 200/bbl, the SPT formula as 
currently exists applies.  
 Petroleum 
Taxes Act  
RENEWABLE ENERGY INCENTIVES  
Import duty 
exemptions  
(customs duties)  Import duty exemption s are granted for "machinery, equipment 
materials and parts for the manufacture or assembly or solar water 
heaters".  
 Finance Act 
2010 
Zero-rated VAT  
(VAT)  Zero-rated VAT granted for complete solar water heaters, solar PV 
systems and wind turbines.  Value 
Added Tax 
Act 
 
Tax credit for solar 
water heaters  
(income tax)  Tax credit for solar water heaters. Individuals purchasing solar water 
heating equipment for household use, are entitled to a tax credit of 
25% of the cost of the solar water heating equipment, up to a 
maximum of TTD 10,000 (maximum tax credit of TTD 2,500).  
 Income Tax 
Act 
150% wear and tear 
allowance  
(tax allowances)  150% wear and tear allowance of the expenditure incurred on: (a) 
the acquisition of plant, machinery, parts and mater ials for use in the 
manufacture of solar water heaters; or (b) the acquisition of: wind 
turbines and supporting equipment; solar PV systems and supporting 
equipment; or solar water heaters.  Finance Act  WT/TPR/S/388 • Trinidad and Tobago  
 
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  Incentive  
(applicable tax)  Description  Act 
Customs and Excise 
Duty Exemptions  
(customs and excis e 
duties)  Several items are allowed for importation free of customs and excise 
duties, as long as they are not manufactured in the desired quantities 
and quality in Trinidad and Tobago. The list of items includes 
environmentally -friendly and/or energy -saving devices such as solar 
panels, and heating equipment.  
 Trinidad 
and Tobago 
Tourism Act  
CNG INCENTIVES FOR MOTOR VEHICLES  
Fiscal incentives for 
import of CNG 
vehicles  
(customs duties, 
MVT and VAT)  1. Motor Vehicle Tax (MVT) and VAT removed on imported new and 
used (less than 4 years old) Original Equipment Manufacturer (OEM) 
natural gas vehicles.  
2. Removal of customs duty on components for the retrofit of vehicles 
to use CNG  
3. Removal of customs duty and VAT on CNG systems.  
 Motor 
Vehicle Tax 
Act and 
Value 
Added Tax 
Act 
Fiscal incentives for 
conversion to CNG 
vehicles  
(corporation tax)  1. For individuals – 25% tax credit for conversion cost, up to a limit of 
TTD 2,500 per vehicle.  
2. For businesses – capital uplift of 130% for wear and tear allowance.  
3. For installers – capital uplift of 130% for wear and tear allowance 
on the cost of the plant, machinery and equipment needed to provide 
CNG installations.  
 Corporation 
Tax Act  
Fiscal incentives for 
electric and hybrid 
electric vehicles  
(MVT, VAT and 
customs duty)  MVT, VAT and customs duty removed on imported and used (less than 
4 years old) electric vehicles.  
MVT, VAT and customs duty removed on imported and used (less than 
2 years old) hybrid vehicles.  Motor 
Vehicle Tax 
Act 
Value 
Added Tax 
Act 
Source:  MOF online information. Viewed at: http://www.finance.gov.tt/wp -content/uploads/2017/08/MOF -
Investment -Incentives -in-Trinidad-and-Tobago -web.pdf . 
__________