WORLD TRADE  
ORGANIZATION  RESTRICTED 
WT/TPR/G/260 
1 February 2012  
 
(12-0621) 
Trade Policy Review Body Original:  English 
   
 
  
 
TRADE POLICY REVIEW 
 
Report by 
 
TRINIDAD AND TOBAGO 
 
  
 
Pursuant to the Agreement Establishi ng the Trade Policy Review Mechanism 
(Annex 3 of the Marrakesh Agreement Establishing the World Trade 
Organization), the policy statement by  Trinidad and Tobago is attached. 
 
 
Note: This report is subject to restricted circ ulation and press embargo until the end of the first 
session of the meeting of the Trade Policy Review Body on Trinidad and Tobago. Trinidad and Tobago WT/TPR/G/260
 Page 3 
 
 
 CONTENTS 
 
 Page 
I.  INTRODUCTION 5 
II.  MEDIUM TERM POLICY FRAMEWORK 5  
III.  MACROECONOMIC DEVELOPMENTS 6  
(i)  Economic growth, Unemployment and Inflation 6  
(ii)  Fiscal Performance 7  
(iii)  Balance of Payments 7  
(iv)  Outlook  8 
IV.  INSTITUTIONAL FRAMEWORK 9  
(i)  Ministry of Trade and Industry 9  
(ii)  Economic Development Board 9  
(iii)  Trade Facilitation and International Competitiveness 9  
V.  TRINIDAD AND TOBAGO’S TRADE RELATIONS WITH THE REST OF THE WORLD 10  
(i)  CARICOM Single Market and Economy (CSME) 10  
(ii)  CARICOM Bilateral Trade Agreements 10  
(iii)  Trinidad and Tobago Bilateral Agreements 11  
(iv)  ACP-EU Cotonou Partnership Agreement 11  
(v)  CARIFORUM-EU Economic Partnership Agreement 11  
(vi)  CARIBCAN 12  
(vii)  Caribbean Basin Initiative (CBI) 12  
VI.  MULTILATERAL FORUM 12  
(i)  World Trade Organization 12  
(ii)  Aid for Trade 12  
VII.  SECTORAL DEVELOPMENTS 13  
(i)  Services Sector 13  
(ii)  Telecommunications 13  
(iii)  Financial Sector 14  
(iv)  Energy Sector 14  
(v)  Agriculture Sector 14  
VIII. CONCLUSION  14 
 Trinidad and Tobago WT/TPR/G/260
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 I. INTRODUCTION 
1. During the period under review (2005-11), Trinidad and Tobago's economy experienced 
mixed fortunes as it was not immune to the contagion effects of the global economic crisis.  However, real GDP growth averaged 3.28 percent annually.  Trinidad and Tobago also continues to be a preferred destination for FDI havin g attracted $US6.7 billion in investment during the period  
2005-10.  Additionally, the country’s interna tional credit rating is at investment grade. 
2. Despite the challenges encountered as a result of the global economic crisis, Trinidad and 
Tobago has been able to retain solid macroeconomic fundamentals as a result of prudent fiscal 
management and low debt to GDP levels.  The overall debt to GDP ratio is approximately 36 percent;  
the relationships between international reserves  and balance of payments remains positive;  core 
inflation levels have begun to decline;  unemployment has remained relatively low averaging 
5 percent;  and the projected GDP growth rate for 2012 is 1.5 percent. 
II. MEDIUM TERM POLICY FRAMEWORK 
3. Measures to strengthen and return the economy to a path of sustainable growth are articulated 
in a new national development plan, the Medium Term Policy Framework 2011-14 (MTPF).  The 
MTPF recognises that additional reforms are needed to create a more productive, competitive, 
diversified and innovation-driven economy that will contribute to the attainment of "Prosperity for 
All". 
4. The MTPF identifies seven (7) interconnected development Pillars to achieve the desired 
economic and social transformation of the country.   Integral to the MTPF is the recognition that 
international trade is fundamental to the coun try's continued prosperity.  Trinidad and Tobago 
therefore maintains an open economy with the intention of further integrating into the multilateral trading system. 
5. The main thrusts of the MTPF are as follows: 
 to diversify and deepen the production base in order to ensure that in a context of 
depleting energy resources, the economy will continue to grow and sustain a high 
standard of living;  
 to move the economy up the value chain, improve competitiveness and expand 
investment both local and foreign;  
 to have a secure and safe nation and to strengthen the framework, institutions and 
infrastructure to support human security; 
 to expand the capacity of our citizens for knowledge accumulation and use, 
innovation, creativity and entrepreneurial activity;  and  
 to reduce socio-economic and regional inequalities within our borders, move people 
out of poverty and promote social inclusion through more meaningful economic 
participation. WT/TPR/G/260 Trade Policy Review
Page 6 
  
III. MACROECONOMIC DEVELOPMENTS 
(i) Economic growth, Unemployment and Inflation  
6. During the period under review, GDP per capita  grew substantially from US$12,150 in 2005 
to US$15,359 in 2010.  The growth in per capita income was underpinned by a period of robust real 
GDP growth from 2005-08, which was negatively affected by the effects of the global economic 
crisis thereafter.  Prior to the global economic  crisis, Trinidad and Tobago's annual growth was 
significantly above the global growth rate (See Fig 1).  Trinidad and Tobago's characteristic openness 
to international trade (Trade/GDP ratio stood at 101 percent and 85 percent in 2008 and 2010 
respectively) remains strong. 
 
 
7. As a result of the fast economic growth, the unemployment rate fell from 8.0 percent in 2005 
to a twenty-year record low of 4.6 percent in 2008.  However, due to the effects of economic 
slowdown precipitated by the global economic crisis, the unemployment rate rose to 5.3 percent in 2009 and 5.9 percent in 2010 (See Fig 2).  Nevertheless, the unemployment rate in Trinidad and 
Tobago at the end of 2011 dropped to 5.3 percent in a sign that the economic recovery is well in train.  Trinidad and Tobago WT/TPR/G/260
 Page 7 
 
 
 
 
 
(ii) Fiscal Performance 
8. Trinidad and Tobago's overall fiscal performance wa s mixed over the review period.  In fiscal 
2009, Government posted an overall fiscal deficit for the first time in over a decade as a result of the 
global recession and the fall in commodity prices.  Crucially however, gross public debt as a percentage of GDP is projected to improve from 38.5 percent in fiscal 2010 to 36.3 percent in fiscal 
2011.  Thus, in terms of debt management, these figures represent a marked improvement on the 2004 
levels when overall debt as a proportion of GDP stood at 51 percent.  External debt service was 
TT$2.3 billion in 2010, which accounted for 3. 3 percent of exports and represented a marked 
improvement on the debt service ratio of 5 percent in 2004. 
(iii) Balance of Payments 
9. During the review period, total merchandise  exports increased phenomenally from TT$62.6 
billion (circa US$9.9 billion) in 2005 to TT$116 billion (circa US$18.5 billion) in 2008. The visible trade balance during the corresponding years was valued at TT$26.7 billion (circa US$4.3 billion) and TT$56.8 billion (US$9 billion) respectively.  However, due to the contagion effects of the global economic crisis, exports fell by approximately 50 pe rcent to TT$57.7 billion (c irca US$9 billion) in 
2009, consequently reducing the visible trade balance to TT$13.7 billion (circa US$2.2 billion).  
10. Notwithstanding the volatile international envi ronment, exports rebounded to TT$71.1 billion 
(circa US$11.3 billion) in 2010, resulting in a corr esponding increment in the visible trade balance to 
TT$29.8 billion (circa US$4.7 billion).  This growth was ascribed to favourable demand from 
CARICOM countries and higher prices of local energy products in tandem with substantial reductions 
in imports of capital goods. These developments contributed to a strong current account surplus 
totalling US$3.8 billion at the end of calendar year 2010. WT/TPR/G/260 Trade Policy Review
Page 8 
  
11. Therefore, notwithstanding the volatile inter national environment experienced over the past 
three years, Trinidad and Tobago's balance of paym ent position has remained robust.  Moreover, 
strong export performance in 2010 resulted in a rebounding of the  overall balance of payments 
position, occasioning a surplus of US$418.4 million from a deficit of US$712.6 in 2009 ( Fig. 3).  In 
addition, in 2010, Government made two deposit s totalling US$477.3 million in the country’s 
Heritage and Stabilisation Fund (HSF).  This pushed the total deposits to the HSF to US$2.89 billion 
in fiscal 2011.  During the same period, gross official reserves reached US$9.0 billion, which 
represents 13.1 months import cover. 
 
 
(iv) Outlook  
12. Trinidad and Tobago's future economic outlook should be viewed in the context of the global 
environment, which has emerged from a severe economic crisis and is facing a sluggish recovery.  
New shocks in the European region and weak performance of the US economy, which are Trinidad and Tobago's principle markets outside of CARICO M, present a challenging outlook.  However, 
despite uncertainty in the global environment, Trinidad and Tobago's economy remains on a sound footing to reverse the negative growth rates experienced over the past three years (2009-11).  Government is consolidating measures to ensure that fiscal deficit and external debt burdens of the country remain well below international benchmarks.  A strong balance of payments position currently being experienced, coupled with a healthy stock of gross official reserves and sovereign 
funds, constitute some of the ingredients for fiscal stability on which strong growth will be anchored.  
Government has also intensified efforts to transfo rm the economy from its current strong dependence 
on the oil and gas sector to a diversified, knowledge intensive one and has projected a growth rate of 1.5 percent in 2012 for the economy. Trinidad and Tobago WT/TPR/G/260
 Page 9 
 
 
 IV. INSTITUTIONAL FRAMEWORK  
(i) Ministry of Trade and Industry 
13. The Ministry of Trade and Industry (MTI) has the responsibility among other things, for 
formulating Trade Policy and negotiating and implem enting trade agreements.  These functions are 
executed with the active participation of the private sect  and the wider civil society.  This institutional 
structure allows for the participatio n of elements of civil society in the policy making as well as the 
negotiations of trade agreements.  This is do ne via the Cabinet appointed Technical Coordinating 
Committee (TCC) which is supported by Sub-Commit tees on agriculture, non-agriculture market 
access, services, investment, government procur ement and Dispute Settlement and Institutional 
issues.  The Sub-Committees provide advice to th e TCC on the specific subject areas.  A Standing 
Advisory Committee on Trade and Trade-Related Ma tters chaired by the TTMA also provides advice 
to the Minister of Trade and Industry.  It's membersh ip includes major private sector entities and other 
areas of civil society actors such as academia and the labour movement.  The Trinidad and Tobago Coalition of Services Industries (TTC SI) an umbrella body of services associates was also established 
under the leadership of the Ministry of Trade and  Industry to achieve closer co-ordination in the 
development of the services sector and the integrat ion of their interests on  services trade matters. 
14. Recently, there has been an added emphasis on implementation of trade agreements. In this 
regard, the Ministry of Trade and Industry has established the Trade Implementation Unit (TIU) 
which became operational in October 2011.  The ma in objective of the TIU is to ensure that the 
opportunities and benefits available under negoti ated trade agreements are fully exploited by existing 
manufacturing, service exporters, entrepreneurs and the general public.  The TIU also ensures that 
Trinidad and Tobago fulfils its obligations under the various trade agreements, including the CARIFORUM-EC Economic Partnership Agreement. 
(ii) Economic Development Board 
15. The Economic Development Board is one of th e institutions identified by the Government of 
the Republic of Trinidad and Tobago (GoRTT) to execute the activities outlined in the "Enabling 
Competitive Business Strategy" which is intended to contribute to the diversification of the economy 
away from oil and gas focusing on the priorities of the non-energy sector.  The Board is comprised of 
a multi-disciplinary group of stakeholders from the private sector, academia and the government.  
(iii) Trade Facilitation and Internat ional Competitiveness  
16. The GoRTT has placed a special emphasis on increasing the country's international ranking in 
competitiveness and productivity.  In this regard, in January 2011, the Government established the 
Council for Innovation and Competitiveness to aid in improving the global competitiveness and innovation of Trinidad and Tobago over the next ten (10) years.  The Council,  which is comprised of 
various stakeholders from the private sector, is charg ed with (i) the mandate of developing the criteria 
to evaluate the competitiveness of existing business es;  (ii) monitoring, measuring and evaluating 
project and programme performance and outcomes wi thin existing businesses;  (iii) coordinating 
policy prescriptions to optimize the benefits to in vestment;  and (iv) implementing diagnostic studies 
of the existing business environment and proposing changes for improvement.  Over the next two 
years (2012-13) the Council has been given the task of ensuring the expansion of exports;  improving 
the country's competitiveness ranking;  encouraging new investments by existing competitive WT/TPR/G/260 Trade Policy Review
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companies to sustain their competitiveness or de velop new ventures; and increasing awareness with 
regard to competitiveness. 
17. The Government of Trinidad and Tobago is also utilising the best practise use of Information 
and Communications Technology (ICT) to build a mo dern trade facilitation infrastructure in the 
country.  Specifically, through the Ministry of Trade and Industry, it is implementing the Single Electronic Window (SEW) for Trade and Business Fa cilitation which is tailored after Singapore's 
TradeNet System.  The system will allow companies and individuals who wish to apply for import/export permits and licences, certificates  of origin, work permits, register a 
business/incorporate a company or conduct any ot her trade/business related activity to submit e-
applications through one single electronic interface.  When fully implemented in 2012, this initiative will revolutionise the way business is conducted in  Trinidad and Tobago and will lead to substantial 
improvements in the country's "doing business' and global competitiveness rankings.  Government, through the Customs and Excise Division, is also in the process of rolling out the ASYCUDA World 
customs management System, which will come into effect in 2012.  This System will be integrated 
with the Single Electronic Window. 
V. TRINIDAD AND TOBAGO'S TRADE RELATIONS WITH THE REST OF THE 
 WORLD 
18. Trinidad and Tobago considers trade to be a significant driver of economic diversification 
and therefore during the review period continued an outward looking approach to trade policy and 
built upon a number of trade agreements involving both developed and developing countries.  The 
involvement in these Agreements has been in coordination with other members of the Caribbean 
Community (CARICOM) and CARI FORUM (CARICOM countries and the Dominican Republic).  
In this regard, Trinidad and Tobago continues to actively participate in the growth and development of the trading bloc of CARICOM def ined by the broad spectrum of disciplines related to the trade in 
goods and services.  In general, Trinidad & Tobago's participation in trading relations at the various 
trade fora has been circumscribed by its membersh ip in the CARICOM grouping in terms of 
harmonization of positions.  Speci fically, Trinidad and Tobago's direct interests have been centred on 
securing expanded market access for domestic exporte rs of goods and services, simplifying the rules 
which govern such access to make it meaningful, increasing inflows of foreign direct investment, and 
overcoming supply side constraints. 
(i) CARICOM Single Market and Economy (CSME) 
19. As a member of the Caribbean Community, Trinidad and Tobago is committed to the 
realization of the CARICOM Single Market and E conomy (CSME).  The goal of this arrangement 
involves the removal of constraints and restrictions  to permit the free movement of labour, goods, 
services and capital and the right of establishment throughout the Community.  The Single Market 
became operational in January 2006.  There is need  however to complete the establishment of all 
institutional and legal arrangemen ts.  With respect to the implementation of the Single Economy, 
Heads of Government have decided to first consolidate the gains of the Single Market before proceeding to certain elements of the Single Econo my such as the creation of a single currency.   
(ii) CARICOM Bilateral Trade Agreements 
20. As a member of CARICOM, Trinidad and Toba go has entered into trade agreements with 
Latin American countries such as the Dominican Republic, Costa Rica, Venezuela, Colombia and Trinidad and Tobago WT/TPR/G/260
 Page 11 
 
 
 Cuba.  The agreements with the Dominican Republic  and Costa Rica are Free Trade Agreements with 
built-in agendas towards the completion of outst anding disciplines.  The CARICOM/Venezuela Trade 
and Investment Agreement is currently a one-way preferential agreement, and the remaining 
reciprocal agreements (with Colombia and Cuba) are limited in scope.  Bilateral trade agreements are 
considered by Trinidad and Tobago to be an effective avenue through which domestic firms can 
develop in preparation for participation in the wider multilateral system.  
(iii) Trinidad and Tobago Bilateral Agreements 
21. Trinidad and Tobago has also recently negotiated a Partial Scope Agreement with Panama 
and is preparing to engage other Latin American countries such as Guatemala, El Salvador and 
Honduras.  These agreements are seen as stepping stones to the wider integration of the Caribbean 
and Central  American economies and the facilitation of t he participation of these Members into the 
global economy in the longer term. 
(iv) ACP-EU Cotonou Partnership Agreement 
22. In terms of the relationship with the European Union, the 2000 Cotonou Partnership 
Agreement between the African, Caribbean and Pacific Group of States (ACP) and the European 
Union (EU) was reviewed and amended in 2005 and 2010.  The Agreement, which covers the period 
leading up to 2020, now focuses on development support.   
(v) CARIFORUM-EU Economic Partnership Agreement 
23. In keeping with the provisions of Article 37 of the 2000 Cotonou Partnership Agreement, 
Trinidad and Tobago, as a member of the CARIFO RUM Region of the ACP Group, participated in 
the negotiation of new formal trading arrangements with the European Union.  These negotiations 
were completed and a CARIFORUM EU Economic Partnership Agreement (EPA) was signed with 
the European Union by Trinidad and Tobago and other CARIFORUM Countries, on 15 October 2008.  The trade provisions of the Cotonou Partnership Agreement have therefore been replaced by the EPA.  The agreement is a permanent arrangement which provides exporters of nearly 
all CARIFORUM products with duty free and quota free access to the EU market for originating 
goods.  The Agreement is being provisionally applied by Trinidad and Tobago since 2008.  It has been notified to the WTO under GATT Article XXIV. 
24. The objectives of the EPA are: 
 Contributing to the reduction and eventual eradication of poverty; 
 Promoting regional integration and economic cooperation; 
 Promoting the gradual integration of CARI FORUM States into the world economy; 
 Improving the capacity of CARIFORUM States in trade policy and trade related 
issues; 
 Supporting conditions for increasing inves tment and private sector initiative and 
enhancing supply capacity;  and 
 Competitiveness and economic growth of CARIFORUM States. WT/TPR/G/260 Trade Policy Review
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(vi) CARIBCAN 
25. Trinidad and Tobago continues to be a beneficiary of the 1986 Caribbean/Canada Trade 
Agreement (CARIBCAN) which provides non-recipr ocal duty free access to the Canadian market for 
a range of goods from participating CARICOM countr ies.  The WTO General Council, at the request 
of Canada, has recently extended the MFN waiver for CARIBCAN to 2013.  Trinidad and Tobago 
and other CARICOM partners are now involved in the negotiation of a reciprocal trade and 
development agreement with Canada.  It is pr ojected that this Agreement, consistent with 
Article XXIV of the GATT, will be concluded before the expiration of the WTO waiver. 
(vii) Caribbean Basin Initiative (CBI) 
26. The Caribbean Basin Initiative (CBI) comprises the Caribbean Basin Economic Recovery Act 
(CBERA) and the Caribbean Basin Trade Partnersh ip Act (CBTPA).  Trinidad and Tobago has been a 
major beneficiary of this regime during the review  period.  In fact, Trinidad and Tobago became the 
leading exporter to the United States under the CBI since 2006.1  In 2010 Trinidad and Tobago 
exported US$2.2 billion to the US under CBI tariff preferences.   The CBTPA was recently extended 
until 30 September 2020, through the HELP Act (May 2010).  In addition, t he WTO General Council 
approved a further MFN waiver for the CBERA up to 2014.  
VI. MULTILATERAL FORUM 
(i) World Trade Organization 
27. Trinidad and Tobago remains firmly committed to a fair and equitable rules-based 
multilateral trading system that is supportive of  the development pursuits of Members and which it 
considers to be the foundation of its relationship with trading partners.  As a small and vulnerable 
economy (SVE) with supply-side capacity constraints, Trinidad and Tobago recognises the 
importance of trade as a development tool and therefor e looks to the multilateral trading system as an 
avenue to reduce its vulnerabilities. 
28. Trinidad and Tobago is deeply committed to the negotiating process under the Doha 
Development Round since it recognizes that its s uccessful conclusion will bring benefits to all 
members.  However, we advocate a pragmatic approach involving a Work programme that takes due 
cognizance of the unique issues related to SVEs. 
29. Trinidad and Tobago has consistently implemented the WTO Agreements and continues to 
fulfil its transparency obligations via the WTO no tifications and trade policy review processes.  
(ii) Aid for Trade 
30. Trinidad and Tobago supports the mobilization of additional predictable, sustainable and 
effective financing as being central to the Aid for Trade (AfT) Initiative.  For Trinidad and Tobago, 
AfT resources are seen as a short to medium term input into building supply capacity to make use of negotiated market access.  In this regard, the Go RTT, in collaboration with the Inter-American 
Development Bank (IADB), is currently developing a National Aid for Trade (AfT) Strategy which is 
to be finalized by the end of March 2012. 
                                                      
1 9th Report to Congress on the Operation of the Caribbean Basin Economic Recovery Act, prepared 
by the Office of the US Trade Representative, December 31, 2011.  Trinidad and Tobago WT/TPR/G/260
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 31. As part of the Caribbean Community, Trinidad and Tobago is also an active participant to the 
Regional AFT Strategy being developed by CARICOM.   It is envisaged that there will be 
complementarity between the goals of the regional and national AfT Strategies.  Trinidad and Tobago 
recognizes the importance of engaging in active participation in the Global as well as the Regional 
Review on Aid for Trade and makes every effort to participate in these meetings.  Trinidad and 
Tobago also supports entrusting the WTO Secretariat with the role of monitoring and mobilizing additional Aid for Trade resources. 
VII. SECTORAL DEVELOPMENTS 
32. Sectoral developments are being propelled by Government's stated efforts to achieve 
economic diversification in the understanding that the country's energy resources are finite.  The 
thrust towards a knowledge-based and innovative economy represents a shift away from dependence 
on hydrocarbon resources to a commitment to the development of human capital. 
(i) Services Sector 
33. The services sector has maintained a signif icant share of GDP and employment with an 
estimated 45.9 percent share of GDP and some 84.1 percent of employment being accounted for by 
the sector in 2010.  Government aims to advance the process of the country's economic 
transformation through building a competitive ec onomy that is technology-driven, innovative, 
knowledge-based and globally connected.  In this con text, the basis for this will be the acquisition, 
exploitation, creation and strategic deployment of know ledge and skills in the services sector so as to 
ensure the provision of services of higher value.   Areas that are being targeted include Energy 
services, financial services, tourism services, Creative Industry services and ICT services. 
34. One of the pillars of the National Planning Fram ework is, in fact, the creation of a diversified 
and knowledge intensive economy.  In this regard,  focus will be given to the contribution of 
indigenous knowledge and heightened emphasis on research and development.  Key among the 
initiatives in this area will be the est ablishment of a National Innovation System. 
35. In addition, a National Services Industry Strategy is to be devised and will guide the 
development of the various sub-sectors in a co-ordin ated manner.  The Policy will be the result of an 
in-depth consultative exercise, inclusive of a sta tistical survey of the sector, which will provide a 
roadmap for the development of the Services Sector.  A key element of the Policy will be the expansion of market access for services and it will  also address critical national development needs of 
the sector. 
36. The specific objectives of the Policy include:  the determination of services-related goals, 
targets and priorities of the economy;  offering so me measure of predictability to investors of the 
national services environment;  defining the role of the public and private sectors in services 
activities, and identifying a mechanism for the m eaningful participation of  private enterprise;  
providing policy direction in the external negotiation of trade in services;  and providing a basis for 
legislative and institutional interventions. 
(ii) Telecommunications 
37. The liberalization of the sector has proceeded and continues to be governed by the following 
objectives:  competition to ensure a healthy, fair and competitive environment is sustained;  and the WT/TPR/G/260 Trade Policy Review
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development of frameworks, plans, programmes and proj ects to ensure the achievement of the social 
and economic objectives of liberalization such as un iversal service, affordable and competitive prices 
and the availability of multiple service providers in the various markets.  Government is 
implementing the Broadband Strategy for Trinidad an d Tobago to facilitate the provision of reliable, 
affordable, high-speed Internet services to all citizens.  In addition, in 2011 Government passed two 
key pieces of legislation to advance the use of ICTs in Trinidad and Tobago.  These are the Data Protection Act (2011), which seeks to protect the privacy of personal and private information of 
individuals which is entered in electronic format;  and the Electronic Transactions Act (2011), which 
gives legal effect to electronic documents, records and signatures. 
(iii) Financial Sector 
38. Government is currently in the process of building renewed confidence in the financial sector 
through proposed measures of a regulatory nature.  These include expanded deposit insurance 
coverage as well as additional powers for th e Central Bank of Trinidad and Tobago through 
amendments to the Central Bank Act.   
(iv) Energy Sector 
39. Traditionally, Trinidad and Tobago's operations in the energy sector have taken the form of 
oil and gas exploration and production, exploitatio n of asphalt deposits and the production of 
methanol.  While oil and gas exploration and production continues to be the main stay of the sector, the Government of the Republic of Trinidad and Tobago has taken an interest in pursuing new investments in the down- stream energy sector as well as in alternative and renewable energy.  
40. During the period under review, there was a thrust by the Government to develop the down-
stream gas-based industries, expanding into the pr oduction of urea, methanol and ammonia.  The 
Government has also embarked on the development of a Sustainable Energy Policy which is aimed at 
maximising the efficient production and use of fossil fuels. 
(v) Agriculture Sector 
41. Government's policy focus in this sector is geared toward the development of a modern 
productive agricultural sector that is internationally  competitive and that generates sustainable income 
levels for producers and ensures food security for the nation.  Some of the strategic initiatives which will be implemented in the medium term and aim ed at revitalizing the sector include:  increased 
agricultural production, distribu tion and access; development of a water resources management 
strategy;  improvement in land management and tenu re of farmers;  expansion of source markets for 
imports; encouragement of youth participation in the agricultural sector;  higher  levels of productivity 
for locally produced goods and the consumption of healthy, locally produced food; and the creation of linkages between the agriculture and other productive sectors. 
VIII.  CONCLUSION 
42. Since its last Review, Trinidad and Tobago has continued its active involvement in the 
multilateral trading system.  Our commitment to free and fair trade is evidenced by the fact that 
despite the global financial crisis the Government of Trinidad and Tobago maintained an open and liberalized trade policy and did not resort to any protectionist trade measures.  We have also 
continued to fulfil our obligations under the various WTO Agreements.  Trinidad and Tobago WT/TPR/G/260
 Page 15 
 
 
 43. In the future, our trade policy will continue to be aimed at deepening the integration of the 
economy into the global economy so as to achieve the economic and social transformation of the 
country. 
 
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