WORLD TRADE  
ORGANIZATION   
WT/TPR/M/260 
17 April 2012 
 (12-2009) 
Trade Policy Review Body 
7 and 9 March 2012  
 
 
 
TRADE POLICY REVIEW 
 
TRINIDAD AND TOBAGO 
 
Record of the Meeting 
 
Chairperson:  H.E. Mr. Eduardo Muñoz Gómez (Colombia) 
 
 
  Page 
 
I. INTRODUCTORY REMARKS BY THE CHAIRPERSON 3 
II. OPENING STATEMENT BY THE REPRESEN TATIVE OF TRINIDAD AND TOBAGO  5 
III. STATEMENT BY THE DISCUSSANT 8 
IV. STATEMENTS BY MEMBERS 12 
V. REPLIES BY THE REPRESENTATI VE OF TRINIDAD AND TOBAGO 
AND ADDITIONAL COMMENTS 34 
VI. CONCLUDING REMARKS BY THE CHAIRPERSON 40 
 
 
 
Note:   Advance written questions by WTO Memb ers and the replies provided by Trinidad and 
Tobago are reproduced in document WT/TPR/M/ 260/Add.1 and will be available online at:  
http://www.wto.org/english/tr atop_e/tpr_e/tp_rep_e.htm.    WT/TPR/M/260 
 Page 3 
 
 
  I. INTRODUCTORY REMARKS BY THE CHAIRPERSON 
1. The third Trade Policy Review of Trinidad and Tobago was held on 7 and 9 March 2012.  
The Chairperson H.E. Mr. Eduardo Muñoz Gómez (C olombia) welcomed the delegation of Trinidad 
and Tobago headed by the Honourable Stephen Ca diz, Minister of Trade and Industry, and the 
discussant, H.E. Mr. Fook Seng Kwok (Singapore).   
2. The Chairperson recalled the purpose of the Trad e Policy Reviews and the main elements of 
the procedures for the meeting.  The report by Trinidad and Tobago was contained in document 
WT/TPR/G/260 and that of the WTO Secretariat in WT/TPR/S/260. 
3. Questions by the following delegations had been  submitted in writing at least two weeks in 
advance and had been transmitted to the delegation of Trinidad and Tobago:  Brazil;  United States;  
Chile;  Barbados;  Singapore;  Canada;  Costa Ri ca;  Colombia;  Japan;  EU;  and Mexico.  The 
following delegations submitted wr itten questions after the two-weeks deadline:  Argentina; 
Dominican Republic;  Pakistan;  Peru;  and Thailand.    
4. The Chairperson noted that he had considered  the reports prepared for this meeting by 
Trinidad and Tobago and the Secretariat.  Both reports noted that despite the collapse of two 
insurance firms (Colonial Life Insurance Co mpany and British American Insurance Company 
(Trinidad) Limited);  which accounted for over 10%  of GDP; Trinidad and Tobago was able to 
weather the impact of the financial crisis because the country had low public sector debt, adequate 
foreign exchange reserves and fiscal space to manoe uvre at the time of the onset of the crisis.  
However, the financial crisis did impact growth ad versely.  Both reports also noted Trinidad and 
Tobago's dependency on the oil and gas sector an d stressed the need to diversify the economy 
especially in the face of declining oil and gas reserves.   
5. He noted that the authorities had recognised the n eed to diversify and this was one of the core 
issues addressed in the Government's Medium-Term Policy Framework 2011-14;  he also noted that 
Members would like Trinidad and Tobago to provi de details on the measures it intends to take. 
6. He noted that customs procedures had been improved with the adoption of ASYCUDA World 
and they should continue to improve with the introduction of electronic documentation and a single 
electronic window in 2012. Furthermore, Trinidad  and Tobago had also implemented the CARICOM 
single market, which further liberalised trade in the region. 
7. On the other hand, the pace of reform in many areas had been slow.  At the time of the last 
Trade Policy Review of Trinidad and Tobago in 2005, anti-dumping legislation was under review and 
safeguard legislation was being drafted but the new le gislation has still not been enacted.  A review of 
government procurement policy started in 2004 and legislation is before parliament.  Although the 
Copyright (Amendment) Act was passed in 2008, le gislation in other intellectual property related 
areas has yet to be implemented.  He assumed that  many Members wish to know how Trinidad and 
Tobago intends to address these issues. 
8. Overall, this Review provided Members an opportunity to exchange on certain systemic 
issues of interest to all policy makers.  These included: 
 • Legislative change:  hastening the process of enacting legislation in areas such as 
competition policy, intellectual property, government procuremen t and contingency 
measures where legislation was being reviewed at the time of the previous review of 
Trinidad and Tobago in 2005. 
 WT/TPR/M/260 
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• Diversification:  diversifying the economy away from the dependence on the oil and 
gas sector and making it less susceptible to exogenous shocks. 
 
 • Predictability :  making the tariff more predictable as the significant gap between the 
average applied MFN tariff rates and the average bound rates makes the tariff quite 
unpredictable.  Furthermore, the increase  in the number of lines where the applied 
rate exceeds the bound rate is also an area of concern. 
 
 • Agriculture :  agriculture remains a small and d eclining part of the economy despite 
relatively high and increasing levels of support and the government's emphasis on the 
sector as an avenue for diversification. 
  WT/TPR/M/260 
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  II. OPENING STATEMENT BY THE REPRESENTATIVE OF TRINIDAD AND 
TOBAGO 
9. In the closing remarks of the Chairman of our last Trade Policy Review in 2005, it was noted 
that "Trinidad and Tobago has emerged as one of  the most dynamic members in the multilateral 
trading system".  It is our humble belief that si nce then, we have lived up to this international 
vocation. During the period under Review, Trinidad  and Tobago's GDP per capita grew substantially 
from US$12,150 in 2005 to US$16,963 in 2011, as a result of the strong average growth in the real gross domestic product of approximately 3.2% per annum. Admittedly however, the global economic 
and financial crisis in 2009 served to interr upt 15 years of economic growth (1994-2008).  
10. Despite the challenges encountered in 2009, Trinid ad 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 currently a pproximately 36%;  the relationships between 
international reserves and balance of payments rema ins positive; core inflation levels have begun to 
decline; unemployment has remained relatively low averaging 5%; and the projected GDP growth rate 
for 2012 is 1.5%. 
11. It is also noteworthy, that Trinidad and T obago, despite the impact of the global economic 
crisis, has not resorted to any protectionist trade measures and has continued to maintain an open and 
liberalized economy with international trade accounti ng for over 85% of GDP. This is because of our 
commitment to a trade regime that is open, sustai nable and aligned with the principles and objectives 
of the WTO. 
12. Within the context of international trade, ma ny positive developments  have occurred since 
our last review which have b een acknowledged in the Secretaria t's Report namely: Trinidad and 
Tobago continues to fulfil its notification obligati ons under the various WTO Agreements;  the list of 
products subject to surcharges has been trimmed gradually, through both reductions and the phasing 
out of rates; there exist no legal performance requirements for investors and there are no restrictions on repatriation of capital, profits, dividends, interest , distributions or gains on investment; and our 
debt to GDP levels have fallen significantly which is rare for many countries given the sovereign debt 
crises in many parts of the world. 
13. As you may know, the Government of Trinidad and Tobago is a new one with just 21 months 
in Office. One of our main thrusts is that of implementation which includes, inter alia , accelerating 
the pace of legal and institutional reform whic h we are confident will advance our trade policy 
objectives.  
14. Trinidad and Tobago's trade policy objectives are embodied in a new National Development 
Plan: the Medium Term Policy Framework (MTPF)  2011-2014 which outlines measures to strengthen 
and return the economy to a path of sustainabl e growth. Indeed the MTPF recognizes that additional 
reforms are needed to create a more productive , competitive diversified and innovation driven 
economy that will contribute to the a ttainment of prosperity for all.  
15. The MTPF identifies seven interconnected de velopment 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 Trinidad and Tobago's continued prosperity. Trinidad and 
Tobago therefore maintains an open economy with the intention of further integrating into the 
multilateral trading system. The main thrusts of th e MTPF are to:  diversify and deepen the production 
base in order to ensure that in a context of de pleting energy resources, the economy will continue to 
grow and sustain a high standard of living; move the economy up the value chain, improve 
competitiveness and expand investment  both local and foreign; have a secure and safe nation and to 
strengthen the framework, institutions and infr astructure to support human security; expand the WT/TPR/M/260 
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  capacity of our citizens for knowledge accumulation and use, innovation, creativity, and 
entrepreneurial activity;  and reduce socioeconom ic and regional inequaliti es within our borders, 
move people out of poverty and promote social  inclusion through more meaningful economic 
participation. 
16. Within the MTPF, the specific objectives pursuan t to achieving our overarching trade policy 
goal, which is to "to grow and diversify trade an d generate export-led growth" include:  expanding 
market access for Trinidad and Tobago goods and services globally and re gionally;  safeguarding 
sensitive productive  sectors; increasing production a nd export  capacity and competitiveness of high 
value goods and services, particularly in the n on-energy sector;  improving the business and trade-
enabling environment; strengthening the institutiona l framework for trade; mobilizing resources to 
finance needs of the trade and trade-related sector s; deepening regional and hemispheric integration 
and cooperation as a means of increasing leverage when dealing with the international community; 
and mainstreaming trade policy into the wider macroeconomic and development policy-setting. 
17. Based on the above objectives, Trinidad and T obago will continue to pursue its outward 
looking orientation to trade policy in differents fora .  We are a leader and an active Member of the 
CARICOM community and are committed to the r ealization of the CARICOM Single Market and 
Economy (CSME).  It is our belief that, the establishm ent of the CSME is essential to our survival in 
the multilateral arena. The country's participation in trading relations at the various fora is 
underpinned by its membership in CARICOM and th e harmonization of trade policy initiatives at the 
bilateral and multilateral levels.  
18. As part of our strategy of becoming globally competitive, Trinidad and Tobago is seeking to 
establish a commercial, economic and political presence in emerging markets. To this end, a more 
aggressive trade policy is being pursued with Centra l and South America and Asia to complement the 
market space already carved. Initiatives to secure new markets and greater access for our country's 
products and services include the negotiation of Agre ements with Panama, and the engagement with 
other Central American countries such as Guatemala, El Salvador and Honduras. 
19. In the context of Article 24 of GATT, Trin idad and Tobago as part of CARIFORUM has 
entered into a new formal reciprocal tradi ng arrangement with the European Union. The 
CARIFORUM-EU Economic Partne rship Agreement was signed with the European Union by 
Trinidad and Tobago and other CARIFORUM countries, on 15 October 2008 and now forms the basis 
of this arrangement.  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 fre e access to the EU market for originating 
goods. 
20. Trinidad and Tobago remains firmly comm itted to a fair and equitable rules-based 
multilateral trading system that is supportive of th e development pursuits of Members and which it 
considers to be the foundation of its relationship with trading part ners. As a small and vulnerable 
economy (SVE), Trinidad and Tobago recognizes the importance of trade as a development tool and 
therefore looks to the multilateral trading system as an avenue to reduce its vulnerabilities. The WTO 
remains the cornerstone of Trinidad and Tobago's trade policy.   
21. In this regard, we are deeply committed to the negotiating process under the Doha 
Development Round since we recognize that its su ccessful conclusion will bring benefits to all 
members. Trinidad and Tobago continues to particip ate in the discussions in Non-Agriculture Market 
Access (NAMA), agriculture, trade in services, trad e facilitation, Aid for Trade, and implementation 
issues. However, we advocate a pragmatic appro ach involving a work programme that takes due 
cognizance of the unique issues related to SVEs. Th e flexibilities currently in negotiations for SVEs 
must be preserved as our economies pursue that n ecessary space to pursue our development goals.   WT/TPR/M/260 
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  22. Additionally, priority must be given to th e mandate of making special and differential 
treatment more precise and operational in the negotiations. Special and differential treatment 
recognizes the legitimacy of our diverse interests with in the negotiations and allows us to pursue trade 
policies that are supportive of our overall developm ental goals thus ensuring our continued economic, 
growth and development. 
23. Trinidad and Tobago is mindful of the need for rapid advancement in the areas of 
competitiveness, productivity and innovation. In th is regard, in January 2011, the Government 
established the Council for Inno vation and Competitiveness to aid in improving the global 
competitiveness and innovation of Trinidad and Tobago ov er the next ten years.  Our flagship project 
in this regard is the implementation of a Singl e Electronic Window for trade and business facilitation. 
This system is intended to revolutionize the way in which business is undertaken in Trinidad and 
Tobago by building a modern and efficient trade f acilitation architecture. Our single window is built 
after the world acclaimed TradeNet system, and I am sure Ambassador Fook Seng will be pleased to know that it is being developed by  CrimsonLogic of Singapore.   
24. Additionally, we believe that a more focused a pproach to the provision of technical assistance 
will increase our capacity to participate meaningfu lly in the multilateral trading arena. Therefore, 
Trinidad and Tobago supports the mobilization of additional predictable, sustainable and effective 
financing as being central to the Aid for Trade Initiative. For Trinidad and Tobago, AfT resources are critical to improving our diversification, in novation, trade facilitation and international 
competitiveness. In this regard, the Government , in collaboration with the Inter-American 
Development Bank, is currently developing a Na tional Aid for Trade Strategy for Trinidad and 
Tobago which is to be finalized by end- June 20 12 and we have no doubt that it will supported by 
WTO Members.  
25. I have been privileged to present my country's  trade policy regime, which we believe is 
geared toward not only the attainment of economic gr owth and prosperity for all of our citizens, but 
also the advancement of the multilateral trading system.  We acknowledge the urgent need for 
progress in the diversification of the economy and a cceleration of the pace of further trade reforms. 
We have no doubt that we can achieve our objectiv es with the further guidance and support of WTO 
Members.   WT/TPR/M/260 
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  III. STATEMENT BY THE DISCUSSANT  (H.E. MR. FOOK SENG KWOK 
(SINGAPORE)) 
26. At the outset, we need to recognise the st rong resource commitments which smaller WTO 
Members make when undergoing the TPR exercise.  It  is with this respect and appreciation that I 
welcome the team from Port of Spain, and thank them  for their efforts in the preparations, especially 
for coordinating timely responses to the questions submitted. These questions are reflective of the 
significance which Members attach to  Trinidad and Tobago's role in international trade and economy.  
Equally importantly, these questions help us enhan ce transparency and understanding of one another's 
trade policies and practices, and spur improvements for each of us. 
27. It is with these objectives in mind that I will offe r some observations: Firstly, on Trinidad and 
Tobago's economic landscape and its position in global trade, so as to better contextualise its trade 
policies. Secondly, a look at Trinidad and Tobago 's trade policies and practices themselves with a 
view to highlighting both those which have been be neficial to the global trading environment, and 
those where positive steps can be taken to further enha nce trade.   No matter where you look or what 
sources you draw from, Trinidad and Tobago's case is  a fairly textbook one, and the story fairly 
convergent.   
28. As already highlighted, Trinidad and Tobago' s economy is dominated by the oil and gas 
sector, which makes up three quarters of exports. As the leading Caribbean producer of hydrocarbons, 
this sector contributes to half of government reve nue.  About half of th e country's natural gas 
production is converted to liquefied petroleum gas (LNG), making Trinidad and Tobago the fifth largest exporter of LNG in the world.  Indeed, recen t growth has been fuelled by investments in the 
LNG, petrochemicals, and steel se ctors.  Agriculture (at about 0. 4% of GDP) remains a small and 
declining part of the economy. Agricultural production in Trinidad and Tobago is now concentrated in 
a small number of products with chicken meat, sugar cane and fruit making up over 80% of the value 
of production. Trinidad and Tobago's main expor ts are processed products such as beverages, bread, 
cereal and cereal products, and cigarettes.  In servi ces, the sector accounts for over 40% of GDP, with 
financial services, tourism and transport services bein g of particular importance. Trinidad and Tobago 
serves as the region's financial centre, and as a sm all island state, tourism and transport services, 
especially maritime transport, have been identified for growth and development. 
29. In many respects, Trinidad and Tobago does come from a position of strength.  It is a high 
income developing country, with a per capita GDP of US$15,500.  Economic growth has averaged an 
impressive 4% during the period under review, despite the volatility in oil and gas prices. It has the 
largest economy in the CARICOM group and, is th e third most populous member with 1.3 million 
people.  Trinidad and Tobago has also earned a re putation as an excellent investment location for 
international businesses, having worked to remove most forms of investment barriers since 1992.  According to The Heritage Foundation economic freed om index of 2012, Trinidad and Tobago is the 
63
rd freest economy out of 179 ranked.  This also places it at 13 out of 29 countries in the South and 
Central American/Caribbean region.  Its overall sc ore at 64.4 is also higher than the world and 
regional averages. In the World Bank's Ease of Do ing Business Ranking, Trinidad and Tobago places 
68 out of 183 economies in 2012. This is an improvement of eight places over the past year. These are all achievements which must be recognised and celebrated. 
30. However, successful rankings and a high per capita income often mask some very real and 
unique challenges faced by island developing states w ith small population bases.  This is especially so 
when Trinidad and Tobago has embraced the text book prescriptions of pursuing a pro-trade and open 
economy which is, in turn, highly exposed to the ups  and downs of the global marketplace.  Given its 
dependency on hydrocarbon income, the sensitivity of  Trinidad and Tobago's economy to external 
demand could be seen between 2008 and 2011, where oil and gas price fluctuations affected per capita 
GDP by as much as US$6,000.  Trinidad and Tobago was also not shielded during the 2008 global  WT/TPR/M/260 
 Page 9 
 
 
  financial crises.  As already noted, the collapse of two insurance companies in 2008 and the costs to 
the Government of addressing the financial and eco nomic crises were estimated to be over 12% of 
GDP.  
31. Added to price fluctuations, is the very real issue of depleting hydrocarbon reserves. Trinidad 
and Tobago has long recognised the risks that over-relia nce on this sector poses to its economy.  In 
this regard, the government has, and continues to  encourage diversification away from oil and gas 
sector.  Given the external conditions, Trinidad  and Tobago has thus far weathered the events 
admirably, with prudent fiscal management, ach ieving a low unemployment rate, and continually 
bracing itself to deal with external uncertainties. 
32. One important step which it has taken in the righ t direction is the creation of the Heritage and 
Stabilisation Fund (HSF), which was still awaiting establishment during its last TPR.  Formally 
established in 2007, the HSF invests surplus petroleu m revenues, and allows for public expenditure to 
be maintained when global prices of crude oil an d gas fall. Complementing this is Trinidad and 
Tobago's new national development plans under the Medium Term Policy Framework (MPTF) 
2011-2014, issued in October last year.  
33. The MPTF has already been elaborated upon by the Minister, and, I would only observe that 
the seven pillars of the framework demonstrate the forward-looking nature of the Trinidad and 
Tobago government, which is investing in moving its workforce up the value chain and striving to enhance its already very respectable productivity ra tes.  Yet the MPTF also recognises the deep socio-
economic challenges which every government has to f ace in today's environment.  It aims to balance 
out inequalities and promote social inclusiveness in the pursuit of economic growth and expansion.  
34. Another tool which Trinidad and Tobago has employed for economic diversification is trade 
itself. Its outward-looking trade policy is built upon by trade agreements with both developed and 
developing countries. It is a signatory to the CARICOM free trade agreement between 15 Caribbean countries and is also a member of the CARIFO RUM-European Community agreement, which was 
signed in October 2008. Trinidad and Tobago also has preferential trade agreements with Colombia 
and Venezuela, and as mentioned, arrangements are also in the works with Panama – all of which 
could play a key role in the future diversification of Trinidad & Tobago's export base. 
35. In its own report for this TPR, Trinidad a nd Tobago recognises that its good fundamentals are 
not a basis for complacency given the present outlo ok.  It recognises a sluggish economic recovery 
ahead, especially in the European region and the United States which are Trinidad and Tobago's 
principal markets outside of CARICOM.  The previ ously low public sector debt which helped them 
weather the financial storms, has now been projected  by the IMF at nearly 50% of GDP in 2011.  
While this is one indicator which causes concern,  I still see a government which is alert to the 
challenges ahead.  The MPTF itself is a map to navi gate these challenges and diversify the economy, 
and we wish the government of Trinidad and To bago well, as we encourage you to pursue and 
implement these reforms quickly.   
36. I now turn to Trinidad and Tobago's trade po licies. Nearly all tariffs are applied on an 
ad valorem  basis with 27 tariff lines representing 0.4% of all tariff lines, unchanged since the last 
review.  However, the average applied MFN tariff (excluding specific duties) in 2011 was 8.5%, 
down from 9% in 2004, reflecting increased liberaliza tion.  Complementing this, are improvements in 
import procedures. Trinidad and Tobago has impl emented the ASYCUDA World system, allowing 
for electronic submission of forms by importers.  It  is also implementing a Single Electronic Window 
(SEW) to applications for permits, licences, certific ates of origin etc.  These will certainly facilitate 
trade and the conduct of businesses. Time taken for customs clearance, has reduced from a previous 
3- to 5-day clearance to 2-day clearance for sea cargo, and 12-hour clearance for air cargo. WT/TPR/M/260 
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  37. On services and investment, Trinidad and Tobago already has a track record for being 
investment-friendly. National strategies have also  been developed to build a knowledge intensive 
economy, and grow services sectors such as energy, financial services, tourism, creative industry and ICT, so as to provide higher value services.  In  financial services, the government has boosted 
confidence in the sector through regulatory meas ures. Two key pieces of legislation, the Data 
Protection Act (2011) and the Electronic Transactions  Act (2011) were also passed to advance the use 
of ICT. Since its 2005 review, Trinidad and Toba go has also made improvements in the areas of 
intellectual property and competition. Doubtless, these changes would contribute much towards enhancing its attractiveness in the eyes of businesses and investors.  
38. On the other hand, there are also areas for improvement, where practices are still not 
facilitative for trade or businesses.  The MFN applie d tariff rate exceeded the bound rate on 50 lines in 
2011, up from 44 in 2004. There is also a wide difference between average bound rates and applied MFN rates, which gives the authorities scope to increase tariffs. These two issues, along with the 
continuing imposition of surcharges on agricultural products, have been raised by many Members 
who are concerned about the unpredictability created  for traders. Another issue which has surfaced 
pertains to the application of origin criteria for CARICOM members vis-à-vis  other trading partners, 
and whether this has trade distorting effects. 
39. Members have also noted with concern the con tinuing support given to the agriculture sector. 
Despite the incentive programmes and domestic s upport, the performance of the sector has not 
matched the amount of support received.  From th e comments submitted, timely notifications and 
clarity on some of these assistance programmes, such as the Agriculture Incentive Programme and 
tourism incentives, might also help to ease the c oncerns of some members on the nature of these 
programmes.  
40. It has been noted in both the Secretariat and Government reports, and also through Members' 
questions, that the pace of reform in many areas  has been slow.  At the last TPR in 2005, 
anti-dumping legislation was under review and safegua rd legislation was being drafted, but the both 
legislations have still not been enacted.  There is also legislation in other intellectual property related 
areas which has yet to be implemented, as is the case for new investment legislation. Such legislation 
go a fair way towards enhancing investor confidence. IP protection, in particular, needs to be robust 
when pursuing a knowledge-based development whic h builds on the human capital in Trinidad and 
Tobago.  Strong IP enforcement also fosters i ndigenous innovation.  Given Trinidad and Tobago's 
strong desire to diversify its economy, the strength of such legislative and regulatory frameworks has 
a direct relationship with its efforts to attract i nvestment outside of the oil and gas sector.  We 
therefore hope this is one area where priori ty will be placed for the immediate future. 
41. I would also urge that the interactions at this  TPR be used to exchange more information and 
achieve clarity in areas where Trinidad and Tobago h as issued new plans and strategies to diversify its 
economy.  Elaboration, for example, in the cha nges to the investment-related acts, revisions in 
practices and laws relating to the financial services sector, and the strategic plans for the maritime 
industry, would promote a more predictable and transparent business environment for traders and 
interested investors. In particular, Members would also benefit from clarifications over whether measures and procedures in financial services, tele communications, and tourism sectors are applied in 
a non-discriminatory fashion. 
42. There is certainly much more that can be di scussed with respect to Trinidad and Tobago's 
trade policies. I have only given broad highlights to begin the conversation.  Notwithstanding the 
difficulties that Trinidad and Tobago faced during th e global financial crisis, their commitment to the 
WTO and to free trade is evidenced by their open trade policies, the notable contributions of its 
delegation in Geneva to the DDA negotiations, a nd a credible resistance to the temptation of 
protectionist measures.  Here, I would like to enco urage Trinidad and Tobago, to continue in their  WT/TPR/M/260 
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  efforts in trade openness and liberalisation, as its stor y is indeed a successful one with regard to trade-
led development.  I also hope that the feedback  received from members will challenge the Trinidad 
and Tobago delegation to push the pace of implem entation with regard to all the commendable 
initiatives already set in motion. WT/TPR/M/260 
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  IV. STATEMENTS BY MEMBERS 
BRAZIL 
 
43. It is a matter of great satisfaction for Brazil to  participate in the TPR of Trinidad and Tobago, 
as the relations between Brazil and the Caribbean countries have experienced a very marked and 
positive change in momentum over the past few y ears. The already solid ties were deepened and 
strengthened and covered a broade r range of areas. Indeed, the creation of new Embassies, the 
intensification of technical cooperation programs and the increasing of trade flows placed Brazil's commitment to the Caribbean in a substantially higher plateau. 
44. The performance of the Trinidad and Toba go economy emanates quite clearly from the 
Secretariat and the countries reports. Ther e are solid grounds for optimism based on the 
macroeconomic indexes, the reasonably well devel oped infrastructure, the efficient government 
services and the continuous efforts by the Governme nt to better governance. This is a much-needed 
environment to expedite any economic, trade and institutional reforms and to pave the way for 
sustainable growth and development.  
45. We praise the Government of Trinidad and T obago for its persistent efforts to improve 
legislation and to diversify the economy. In the same  vein, the continuation of the efforts to enact a 
legislative and regulatory framework to attract inv estments outside the oil and gas sector; to protect 
producers from unfair trade and competition; and to establish a government procurement policy, are also part of a successful development strategy.  
46. Trade flows between Brazil and Trinidad and Tobago have significantly intensified 
throughout the period under review. Naturally, ther e is still room for much improvement. Exports 
from Trinidad and Tobago to Brazil ar e yet well bellow of their potential. 
47. The bilateral agreement on technical cooperati on between Brazil and Trinidad and Tobago, 
ratified in 2009, provide an institutional framewo rk that strengthens cooperation between our 
countries. Bilateral technical cooperation already in cludes projects in the agriculture sector, with the 
participation of EMBRAPA – the Brazilia n Agency for Agricultural Research.  
48. Brazil stands ready to further enhance its c ooperation with Trinidad and Tobago, as we are 
convinced that strengthening South-South Cooperation is  an important means to enable the sharing of 
technologies and practices developed under si milar social and economic conditions.  
UNITED STATES 
49. The United States values its strong partnership w ith Trinidad and Tobago.  The United States 
is Trinidad and Tobago's largest trading partner.  In 2010, the United States accounted for just under 
half of Trinidad and Tobago's e xports and approximately 29% of Trinidad and Tobago's imports.  
Since 2006, Trinidad and Tobago has been the leading exporter of goods under the Caribbean Basin Initiative (CBI).  The United States imported $2.2 billion under CBI tariff preferences from Trinidad 
and Tobago in 2010, an increase of 43.8% from 2009.  Less than 12% of all U.S. imports from 
Trinidad and Tobago were subject to duty.  The re mainder entered the United States duty-free, either 
through the CBI or because the MFN rate is zero. 
50. As Trinidad and Tobago's largest trading part ner, the United States' commercial relationship 
with that country remains vibrant.  Our total two-way goods trade grew steadily during the second 
half of the last decade, and two-way trade through the first 11 months of 2011 exceeded total trade 
from the previous year.  Through the first 11 mont hs of 2011, U.S. goods exports were $1.8 billion 
and U.S. goods imports were $7.5 billion.  WT/TPR/M/260 
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  51. As both the Report from the Secretariat and the Government of Trinidad and Tobago note, the 
energy sector continues to play a dominant role in the economy.  According to the Secretariat Report, 
the petroleum sector generates approximately one-third of GDP.  The importance of the energy sector is reflected in the composition of exports to the United States.  Imports under CBI tariff preferences 
from Trinidad and Tobago are dominated by petrol eum and methanol and 75% of imports of these 
two goods entered under CBI provisions in 2010. 
52. We welcome the government's efforts to st rengthen and diversify the economy through the 
Medium-Term Policy Framework 2011-14 (MTPF).  A ccording to the government's Report, the 
MTPF recognizes that "international trade is fundament al to the country's continued prosperity", and 
seeks to "further integrat[e] into the multilateral tr ading system".  We look forward to learning more 
about the "additional reforms" envisioned by the government to boost competitiveness, particularly 
through trade.  In this regard, we would be inte rested in efforts by the government to increase 
transparency and predictability, so that trade in goods and services flows smoothly.  We have 
submitted some questions regarding the procedures the government uses to consider, notify, and 
implement changes in tariffs.  The Secretariat's Re port also notes that for 50 tariff lines, the applied 
rate currently exceeds the bound rates.  The majority  of these items are the same as those that were 
presented at the last Trade Policy Review.  Similarl y, the Secretariat Report points out that while all 
duties are bound in ad valorem  terms, the government applies specific duties to 27 tariff lines (mainly 
alcoholic beverages) which could lead to the a pplied duty exceeding the bound rate.  We would ask 
for information regarding when Trinidad and Tobago will bring all rates to within their bound rates. 
53. One of the key ways to enhance competitiveness is  to adequately and effectively protect and 
enforce intellectual property.  In this regard, we hope to hear from the delegation about Trinidad and 
Tobago's efforts to pass and fully implement IPR-re lated legislation, especially with respect to 
remuneration to songwriters for performances of their works.  
54. The Secretariat Report describes the efforts by the Government of Trinidad and Tobago to 
expand the tourism sector through the 2010 National Tourism Policy.  Trinidad and Tobago has much 
to offer visitors, such as the country's warm hospitality and its vibrant culture, both of which 
contribute to the tourism industry.  In this rega rd, we encourage Trinidad and Tobago to consider 
policies that keep its hotels and resorts attractiv e to visitors, such as ensuring that high quality 
agricultural products and processed foods are available at a reasonable price.  Unfortunately, there have been reports that Trinidad and Tobago intends to raise the tariffs on poultry, for example.  In 
light of the importance of the tourism sector to Tr inidad and Tobago's devel opment and the harm to 
tourism development that the current lack of tour ist facilities, such as restaurants and hotels can do, 
we wonder why Trinidad and Tobago would raise the co st to its consumers, both local and visitors, of 
popular food items. 
55. In closing, the United States will continue to work with Trinidad and Tobago and the other 
CARICOM members to strengthen and deepen our rela tionship.  We look forward to our work with 
all of our trading partners to strengthen the global economy and the WTO, allowing trade and 
investment opportunities to expand, and further e nhancing opportunities for Trinidad and Tobago to 
broaden its exports and its export markets. 
CHILE 
56. In this review of the trade policy of Trinidad and Tobago, the first thing to be highlighted is 
the human and technical effort needed to undertake this  exercise.  We are well aware of this;  we are a 
small economy that also has limited resources. 
57. 
On this occasion, we have noted with satisf action the relatively low level of unemployment, 
despite the effects of the international economic cr isis.  In fact, only 6% of the labour force is WT/TPR/M/260 
Page 14  
 
  unemployed.  This is no small achievement, partic ularly in light of the current global economic 
situation. 
58. The second element is the development strategy 's export-oriented approach.  Although the 
legal regime applicable to foreign investment is  open, there are various restrictions on foreign 
ownership of real estate, in the form of licences.  This issue is therefore pending. 
59. Likewise, we draw attention to the role played by Trinidad and Tobago in the global energy 
market.  The market for liquefied natural gas is in a phase of rapid expansion and development, so 
up-to-date and effective regulations are needed.  We are certain that this is the case in Trinidad and 
Tobago. 
BARBADOS 
60. My delegation wishes to commend the Gove rnment of Trinidad and Tobago on its 
commendable economic performance in the face of a persistent global economic downturn.  The accomplishments can be attributed to the implemen tation of its macroeconomic policies and effective 
decision-making. We commend the attainment of eco nomic growth of 4% per annum over the period 
reviewed.  Though much lower, than in previous years, in these recessionary times, it is no mean 
achievement. In addition the country has been able to  maintain balance of pa yment surpluses even in 
the context of an adverse global economic climate.  
61. As a neighbouring Caribbean island and a sister  CARICOM member, Barb ados, together with 
our sub-regional counterparts in CARICOM have embarked on achieving economic integration, 
harmonization and interdependence through th e CARICOM Single Market and Economy and 
therefore share several common development goals. 
62. We applaud the country's efforts in taking steps to reduce its dependence on oil as set out in 
its Government's medium term policy framework.  We commend the commercial policy for oil and 
gas and the goal of developing additional products from processing and production of petrochemicals. 
63. The loss in preferential market access in traditional markets coupled with the effects of the 
volatility of energy prices have made it necessary fo r countries like Trinidad and Tobago to diversify 
away from dependence on a few subsectors. As a resu lt, Trinidad and Tobago has refocused its trade 
policy at becoming globally competitive and expanding their market share beyond their traditional trading partners.  They are actively involved in negotiating Bilateral Invest ment Treaties and Regional 
Trade Agreements with a number of countries acro ss the world.  They have earmarked new and 
emerging economies in Central and South America a nd Asia with which to become engaged in new 
commercial, economic and political relationships.  My delegation notes the early successes of 
Trinidad and Tobago at increasing trade with the EU within the context of the Caribbean Forum 
(CARIFORUM) – EU, Economic Partnership Agreement.   
64.  We also note the policy emphasis on innovation and entrepreneurship and the planned 
implementation of a national innovation policy, a na tional service industries strategy and an Industrial 
policy. These initiatives reflect Government's aim to  establish and promote an environment conducive 
to economic growth and development.  
65. In the area of transportation, Trinidad and T obago has decades of experience in the national 
airline business - despite occasional challenges. We note the current focus on developing the area of 
maritime transport and the identification of the merchant marine industry as a high growth sector. 
66. My delegation therefore looks forward to the launch of the new inter-island ferry out of 
Trinidad and Tobago.  This, coupled with the im plementation of more modern customs procedures  WT/TPR/M/260 
 Page 15 
 
 
  and automation, should assist with facilitating tr ade as well as reducing shipping time and costs for 
regional exports and inputs fo r domestic production processes. 
67. We commend the improvements made in th e financial regulatory framework, including 
greater oversight of the insurance sector. We are plea sed that the amendments to the Insurance Act in 
2009 allowed the monetary authority to take correctiv e action. We expect that this will also permit 
resolution of lingering financial difficulties rela ted to some areas of the insurance sector.  
68. Trinidad and Tobago's TPR has demonstrated that it has formulated trade policies and 
national development policies in accordance with it s developmental needs.  Such measures should 
enable it to successfully pursue its economic reform  and development objectives.  We also applaud 
the twin island state for resisting the need to employ protectionist measures during the recessionary 
period.  We trust that its commitment to the pr inciples of multilateralism, openness and transparency 
will bear fruit as it seeks to integr ate itself more fully into the multila teral trading system. In closing I 
would like to congratulate Trinidad and Tobago  on the effective management of their economy 
through a very difficult period of global recession an d wish them a successful conclusion to their third 
trade policy review. 
CANADA 
69. Canada and Trinidad and Tobago have a l ong standing relationship which has expanded 
significantly in the 50 years since formal diplomatic  relations were established.  During this period, 
the complexity of our trade and investment relati onship has also evolved to reflect changes in the 
multilateral trading environment.  Like many members of the WTO, Trinidad and Tobago was 
adversely affected by the global economic downturn of  recent years which saw a significant fall in oil 
revenues. 
70. Fortunately, except for a temporary drop in 2009, when bilateral merchandise trade with 
Canada slipped 6% below 2008 leve ls, our two countries have enjoye d a strong and growing bilateral 
trading and investment relationship.  As an illu stration, between 2008 a nd 2011 two-way merchandise 
trade increased by 19% from a total of just over CAN$614.9 million in 2008 to just over 
CAN$731.3 million in 2011. As well, the stock of Canadian investment in Trinidad and Tobago has 
grown significantly since the last WTO review fro m CAN$146 million in 2005 to CAN$1.2 billion in 
2010. We are hopeful that this re lationship will deepen as both count ries continue to cooperate and 
share expertise in many areas including oil and g as, education, health and information and 
communication technologies (ICT). 
71. The Secretariat Report highlights a number of pos itive developments rela ted to Trinidad and 
Tobago's efforts to make its economy more competiti ve, such as openness to foreign investment and 
progress in creating a more Ainvestment-friendly" business environm ent.  Canada applauds these 
efforts and notes the constructive use that has b een made of the "Foreign Investment Protection 
Agreement" which has been in place between our two countries since 1996. 
72. Canada commends Trinidad and Tobago for its efforts to modernize the trade facilitation 
infrastructure of the country. The proposed introduction of the single electronic window in 2012 should contribute significantly to trade and business facilitation, particularly in regard to the 
application of business licences and import/export perm its. As well, the installation of the ASYCUDA 
World customs management system, when integrated with the single window, should contribute to streamlining customs procedures. 
73.
 Canada congratulates Trinidad and Tobago on  launching the 2012-2014 Medium-Term Policy 
Framework so as to continue analysing issues rela ted to improved competitiveness, diversification 
from dependence on the petroleum and gas sector, and identification of suitable tools for achieving WT/TPR/M/260 
Page 16  
 
  this.  Canada also welcomes the signature of a one-year agreement between Trinidad and Tobago and 
the United Nations Development Programme on the de velopment of a corporate social responsibility 
policy.  We are convinced that the implementation of  such a policy will help to  reinforce the business 
environment and the level of transparency in all sectors of industry. 
74. Canada notes that an important commitment was made in 2006 with a view to implementing 
the CARICOM Single Market and that several regional institutions have since been set up in order to 
carry out this project.  In this connection, thr ough its regional aid policy, Canada is supporting the 
implementation of a trade and competitiveness programme up to 2013 to assist the Caribbean region in participating in global trade liberalization through support for the CARICOM single market and 
economy and the Office of Trade Negotiations. 
75. Canada is pleased to continue its efforts to negotiate a comp rehensive trade agreement with 
CARICOM and is looking forward to a successful  conclusion of these negotiations, which include 
services, investment and trade in goods.  Canada views a potential Trade Agreement with CARICOM 
as a way to strengthen Canada's commercial ties w ith longstanding regional partners that would 
contribute to the shared goal of facilitating deve lopment through economic integration within the 
Western Hemisphere. Canada appreciates the leader ship role Trinidad and Tobago has taken in 
advancing negotiations towards a comprehensive trad e agreement, including related provisions on 
labour and environment, and hopes that an agreement can be conc luded expeditiously. 
76. Canada was also pleased to receive an extensi on to the end of 2013 of the WTO waiver for 
our Commonwealth Caribbean tariff preference pr ogram (known as CARIBCAN), of which Trinidad 
and Tobago is a beneficiary. Over this year a nd next, Canada hopes that sufficient progress will be 
achieved through multilateral negotiatio ns at the WTO and through bila teral trade negotiations such 
that the importance of preferential market access sc hemes, such as CARIBCAN, will be lessened.  
77. Canada also notes with interest, Trinidad and T obago's strong leadership and participation in 
promoting the Aid for Trade agenda in partic ular its collaboration with the Inter-American 
Development Bank in developing a "N ational Aid for Trade Strategy" to be finalized in 2012.  Canada 
recognizes the importance of building trade capacity in policy formulation, of creating effective 
institutions and of improving infrastructure a nd has supported a number of regional initiatives 
including contributions to the In ter-American Development Bank - Aid for Trade Strategic Fund to 
2014.  This fund was instituted in 2009 to help countries in the Americas benefit from liberalized 
trade and increased market access by using grant resources to overcome supply-side constraints. In conclusion, Canada would like to reiterate our support for Trinidad and Tobago's efforts toward 
market liberalization, strengthening the instituti onal environment and economic  diversification.   
COSTA RICA 
78. Costa Rica is participating with interest in th is Trade Policy Review of Trinidad and Tobago, 
which is the main destination for our exports  to CARICOM countries, as well as Costa Rica's 
foremost supplier in the region.  The two c ountries have had a free trade agreement since 
November 2005, which has helped to intensify these trade relations. 
79. In relation to this review, we should like to hi ghlight certain aspects of Trinidad and Tobago's 
trade policy.  First of all, we welcome the G overnment's objective, underlined in the 2012-2014 
Medium-Term Policy Framework, of maintaining an  open economy so as to become more closely 
integrated into the multilateral trading system a nd the recognition of the essential role played by 
international trade for the country's prosperity.  We  believe that observance of these principles will 
provide a solid foundation for continued diversifi cation of Trinidad and Tobago's economy, improve 
its competitiveness and lessen its dependence on the traditional petroleum and gas sectors.  WT/TPR/M/260 
 Page 17 
 
 
  80. We welcome the recovery in the economy afte r Trinidad and Tobago experienced a downturn 
caused by the global economic crisis and we are confid ent that this trend will continue and intensify in 
years to come.  We should like, inter alia , to underline the efforts make in various trade-related areas 
such as the improvement in customs procedures an d trade facilitation measures, and we encourage 
Trinidad and Tobago to pursue these reforms. 
81. Costa Rica submitted a series of questions to Tr inidad and Tobago for the purposes of this 
review, and we appreciate the attention they have r eceived and the replies provided.  In particular, we 
are interested to know about the measures taken by the Government to remedy the situation described 
in the Secretariat report that the tariff applicab le to a group of tariff lines has exceeded the bound 
rates.  We should also like to receive further details concerning Trinidad and Tobago's plans in 
relation to the import surcharges applied to certa in agricultural products since 1990 intended to 
provide temporary protection during the transition to tariffication of the trade regime but which 
remained in place after the process had been completed. 
COLOMBIA 
 82. The Secretariat report indicates that the economic problems that occurred in 2009 did not 
spare Trinidad and Tobago, after several years of outstanding economic performance.  The islands' 
economy is based to a large extent on its foreign tr ade, especially, its exports of petroleum and gas 
which, according to the report, account for over 80 % of the GDP.  The satisfactory performance of 
this sector encouraged high rates of growth bo th in GDP and per capita GDP during the period 
2005-2008, together with a drop in the une mployment rate, which fell to below 4%. 
83. Nevertheless, fluctuations in petroleum prices caused a 40% reduction in global trade for half 
its exports, with the consequentia l effects on the economy's growth, em ployment and per capita GDP.  
The performance of the mining and energy sector still plays a key role in the country's economic performance.  Although the Government is making efforts to diversify the economy, this sector's 
share of exports is increasing and in 2010 amounted to close to 80% of all exports. 
84. Accordingly, as the Secretariat report shows, one important element for the economy's 
recovery and future performance is the identificati on of strategic sectors with the potential to be 
internationally competitive, for which the Govern ment is carrying out various reforms aimed at 
developing new export sectors and generating higher value added goods and services, on the basis of 
quality, value and innovation.  Devel opment of the services sector appears to be particularly important 
for these efforts, bearing in mind that it employs 70% of the labour force and provides 46% of GDP. 
85. Another key element highlighted in the report is  the challenge of diversifying the principal 
export markets (over 90% of exports currently go to the United States and European markets).  
Consequently, development of its trade policy, tight ening its links with markets in Asia, Central and 
South America, is a step in the right direction th at will not only help to diversify markets but could 
allow the development of production chains to act  as a catalyst for other sectors of the economy. 
86. Lastly, we wish to draw particular attention to the fact that, despite the recent economic 
problems, Trinidad and Tobago has set an exam ple by refraining from imposing protectionist 
measures.  On the contrary, it has focused efforts both on diversifying its economy and on 
implementing trade facilitation measures, convinced that  the way out of these difficulties is closer and 
more diversified integration into the global economy .  The challenge for Trinidad and Tobago appears 
to be not simply a return to dynamic economic grow th such as that during the pre-crisis years but 
rather to diversify its economy so as to lessen fu ture vulnerability stemming from the strong focus on 
the mining and energy sector and to generate stable  and sustainable conditions for the years to come. WT/TPR/M/260 
Page 18  
 
  87. We note from the Secretariat report that there has been some notable progress in the trade 
liberalization strategy, even though we consider that  there is still room for improvement.  Concerning 
tariffs, of particular note is the reduction in the av erage MFN tariff applied, which fell from 9 to 8.5%.  
In any event, we note that, for agricultural products, protection is much stronger than for industrial 
products, with the applied average rising from 17. 1 to 17.5%, whereas for industrial goods it has 
fallen from 7.6% to 6.8%. 
88. It would likewise be advisable to revise the tariff structure to make it simpler, eliminate the 
dispersion found within categories of products, an d remedy the negative effective protection in 
industries such as the food industry.  This in turn  could prove positive in attracting capital to boost 
these industries. 
89. Notable progress has been made in trade fac ilitation, including implementation of procedures 
for the electronic transmission of information, with 80% of ASYCUDA complete and 75% of importers being able to send information directly .  The introduction of the single window in 2012 will 
also help to lessen the time taken to process information. 
90. It is important to continue working to st reamline procedures and lessen the time taken for 
both exports and imports, which, according to the Wo rld Bank, may be up to five days for customs 
authorizations and technical controls.  According to  the Secretariat report, export procedures could be 
speeded up because the time required is long (14 days). 
91. With regard to trade relations between Colo mbia and Trinidad and Tobago, as the report 
shows, there has been a Partial Scope Agreemen t between Colombia and CARICOM members since 
1994, under which we grant tariff preferences to CARICOM countries for 1,128 subheadings and in 
turn receive preferences from Trinidad and Tobago, Jamaica, Barbados and Guyana for 
1,074 subheadings.  The preference for the products negotiated is currently 100%.  It has long been 
Colombia's desire to tighten its trade links with  CARICOM members and be able to further develop 
and expand this Agreement. 
92. Our bilateral trade has generally increased and h as multiplied fivefold over the past five years, 
albeit with ups and downs.  In 2011, Colombia 's sales to Trinidad and Tobago amounted to 
US$1,001 million, a 317% increase compared to 2 010 (US$240 million).  The trend in our imports 
was similar, and they amounted to US$561 m illion in 2011, a 59% increase compared to 2010 
(US$353 million). 
93. Although these figures are indicative of highly dynamic trade, it is also true that most of it is 
in the form of trade in petroleum and its by-produc ts.  We have before us a daunting challenge to 
succeed in diversifying sales on both sides, whic h today consist mainly of petroleum (89%) and 
petroleum oils (6%) on our side. 
94. With regard to investment, there is also cons iderable room for development.  Colombia's 
flows of investment in the region have been increasi ng sharply and it is in our interest to explore ways 
of strengthening flows between the two countries, which in recent years have been non-existent.  
We believe that there is also cons iderable potential for development in  the area of tourism as the flow 
of tourists, which had been increasing, has stagnated over the past two years.  In 2011, 1,175 tourists 
from Trinidad and Tobago visited Colombia, and 1, 382 Colombians went to Trinidad and Tobago. 
95. We consider that during the review period Tr inidad and Tobago has been a model of the 
serious way in which a small economy can meet its WTO commitments.  We appreciate the way in which, as a member of the global community of nations, it has sought to become more closely 
integrated into the global economy, to tighten its  links with other countries and to increase its 
presence on international markets, while at the same  time taking an active part in the discussions  WT/TPR/M/260 
 Page 19 
 
 
  within the WTO, providing elements that enable the needs of the smallest economies to be properly 
taken into account in the Doha Round negotiations.  Co lombia reiterates in this forum its interest in 
being a partner and ally of the Government of Tr inidad and Tobago in its efforts to modernize and 
diversify its economy and also to play a more  important role in global trade flows. 
JAPAN 
96. I would like to start with Trinidad and Tobago' s macroeconomic environment and policies. As 
pointed out by previous speakers, one of the ma jor challenges to Trinidad and Tobago's economy is 
the tremendous reliance on the oil and gas industry in its GDP (over one-third), government revenues 
(about half) and export revenues (over 80%). Japan agrees with the Secretariat's Report's view that 
this structure makes the economy vulnerable to  international commodity price changes.  
97. As stated by Minister Cadiz at the begining of this meeting, the Government of Trinidad and 
Tobago duly recognises this challenge and is employing necessary policies through the new 
"Medium-Term Policy Framework 2011-14 (MTPF)" and the establishment of the Heritage and 
Stabilization Fund in 2007. Japan considers that these are policies in the right direction. 
98. Regarding trade and trade-related policies, we have four comments.  Firstly, according to the 
Secretariat Report, the applied MFN rate exceeded the bound rate on 50 lines in 2011. Japan urges 
Trinidad and Tobago to take neces sary measures to rectify the situation, as it replied in the written 
replies circulated today.  
99. Secondly, Japan welcomes efforts by the govern ment to simplify and make efficient custom 
procedures, such as the implementation of ASYC UDA and subsequent amendment of the Customs 
Act, which enabled the electronic submission of  documents. This has resulted in commendable 
improvement in customs processing time. Japan expects that further implementation of ASYCUDA and a single electronic window project scheduled in 2012 will produce further positive trade facilitation effects.  
100. Thirdly, we have learned that the Government  of Trinidad and Tobago provides a number of 
fiscal incentives, including a VAT ex emption, for natural gas vehicles. Although I understand that the 
promotion of the Compressed Natural Gas is the ma jor policy objective behind this measure, in order 
to promote environmentally-friendly vehicles and ac hieve sustainable development, Japan encourages 
Trinidad and Tobago to consider expanding such fiscal incentives to other environmentally-friendly 
vehicles, such as hybrid or electric vehicles, as well. 
101. Fourthly, Japan believes that the establis hment of the CARICOM Single Market and 
Economy scheduled to occur by 2015 would contribute to the integration of the region into the 
multilateral trade system. Japan therefore encourages Trinidad and Tobago to continue harmonization 
of its economic, trade and investment policies,  while ensuring its international commitments. 
102. In the area of sectoral policies, we have one  comment on financial services.  Japan positively 
notes reforms implemented in the banking services sector, such as strengthening the regulation and 
supervision by the Central Bank and easing market entry conditions for foreign banks.  On the other 
hand, in the insurance services sector, according to th e Secretariat's Report, although some legislative 
changes were introduced in 2009 following the collap se of two major insurance companies, there still 
remains further room for improving protection of policy holders. Japan hopes that the government will swiftly enact the new Insurance Bill and encour ages it to take further steps to address some 
deficiencies recognised by the authorities.  In conc lusion, Japan would like to reiterate its hope that 
Trinidad and Tobago will further facilitate trade and investment and enhance consumer benefits in a 
sustainable manner. WT/TPR/M/260 
Page 20  
 
  EUROPEAN UNION 
103. This is the third Trade Policy Review of Tr inidad and Tobago. As the country's second 
biggest trade partner, the EU is pleased to partic ipate in it. Since the last review in 2005, trade 
between Trinidad and Tobago and the EU has grow n on average by 3.5% annually, and in 2010 it 
amounted to over €2 billion. The basis for our tr ade relations is the CARIFORUM–EU Economic 
Partnership Agreement or EPA, which has been pr ovisionally applied since December 2008. The EPA 
covers not just goods, services, and investment, but al so important trade-related issues such as public 
procurement, competition, innovation and intelle ctual property, and environmental and labour 
standards. 
104. The agreement brings a range of benefits to  Trinidad and Tobago. It gives Trinbagonian 
businesses and entrepreneurs duty-free, quota-free access to the EU market. It also supports efforts 
already underway to boost trade within the Caribbean  region. Trinidad and Tobago is a keen supporter 
of CARICOM/the Caribbean Community. It has pl ayed a leading role in supporting CARICOM's 
economic integration, including work to estab lish a Single Market. We believe the EPA will 
contribute to these efforts. We therefore urge Trinid ad and Tobago to make its initial tariff cuts due 
under the EPA as soon as possible, and to ratify the agreement. 
105. The EPA also comes with a package of trade -related development assistance. Indeed, the EU 
has contributed to Trinidad and Tobago's devel opment since the era of the Lomé Convention. 
Trinidad and Tobago currently benefits in two ways: from a region-wide cooperation programme for 
the Caribbean as a whole, and from support tailored sp ecifically to the country's needs. This country-
specific support has two main strands. The first is  a €16 million programme to help the government 
implement its Medium-Term Policy Framework. Th is is a national development programme which 
runs from 2011 to 2014. Our support focuses on th e programme's initiatives to promote economic 
growth, job creation, competitiveness and innovation.  The second strand of our support concerns the 
government's agricultural strategy. We have a llocated €75 million between 2007 and 2013 to help 
Trinidad and Tobago attain its goal of increasi ng local food production. In addition, the EU is 
financing the provision of training and technical know -how for businesses in the agriculture, tourism, 
and oil and gas sectors.   
106. Trinidad and Tobago has experienced outstandi ng economic growth over the last decade. 
However, like many other countries, the country was also affected by the global financial and 
economic crisis of 2009. According to the findings of the recent IMF mission, the slowdown that began with the global financial crisis has been mo re profound and has lasted longer than anticipated. 
The economy is estimated to have contracted by 1.3% in 2011, after recording no growth in 2010 and 
a significant decline in 2009.  
107. We therefore commend Trinidad and Tobago for not resorting to any protectionist measures 
despite the downturn. We also not e with satisfaction that the ec onomy of Trinidad and Tobago has 
recently shown signs of recovery, with growth  recovery projected to  continue in 2012. 
108. Trinidad and Tobago has addressed these recen t challenges in its Medium-Term Policy 
Framework. This new national de velopment plan interlinks different socioeconomic policies and 
recognises the need to finalise reforms in order to achi eve its goal of prosperity for all. As Trinidad 
and Tobago depends on external trade, it has to develop new exports for new markets. So we 
particularly welcome the fact that trade forms an inte gral part of this plan, with policies to diversify 
the country's economic base and exports and reduce the current dominance of the energy sector.  We 
also welcome positive developments in services sect or. These have included steady growth of services 
in the share of Trinidad and Tobago's overall GDP since 2005, and liberalisation of financial services 
as regards commercial banking.   WT/TPR/M/260 
 Page 21 
 
 
  109. In the last TPR, WTO Members, including th e EU, encouraged Trinidad and Tobago to 
continue its reforms already underway in many areas, such as customs, investment, government 
procurement, and intellectual property rights. We are heartened that the country has continued its 
efforts in streamlining its customs regime. Fo r example, in December 2010 it adopted ASYCUDA 
World. And later this year it plans to introdu ce electronic documentation and a single electronic 
window. These Trinidad and Tobago's efforts to facilita te trade and make bett er use of information 
technology could be complemented by concluding trade facilitation negotiations at the WTO as soon 
as possible.  
110. Since the last Review, we have seen mostly  encouraging developments in Trinidad and 
Tobago. But our discussion today also allows us to  suggest areas where further improvements would 
benefit both the country itself and its trade partners.  
111. The reports state that a number of legal a nd institutional reforms initiated during the last 
review have not yet been enacted. So we encour age Trinidad and Tobago to redouble its efforts to 
pursue these reforms, by promptly enacting and im plementing the necessary legislation. We also 
encourage Trinidad and Tobago to develop and impl ement comprehensive national strategies, such as 
a National Service Industries Strategy. These would certainly help to develop the economy more 
quickly. Clearly chosen strategic goals and swif tly implemented legislation will provide businesses 
with a solid framework for their investments, whic h would in turn contribute to the economy's growth 
and diversification. This is precisely why the goa l of Enabling Competitive Business is an important 
part of the EU's development coope ration with Trinidad and Tobago. 
112. We also welcome the 0.5% decrease in Trinid ad and Tobago's average applied MFN tariff 
since the last review. But we note that the number of tariff lines which exceed bound rates has 
increased. As such we would urge Trinidad an d Tobago to consider measures to address this. 
Similarly, as the WTO Secretariat's report states, we are concerned about Trinidad and Tobago's discriminatory application of excise duties on importe d and locally-produced spirit drinks, particularly 
on rum. We urge Trinidad and Tobago to comply with its WTO commitments and to provide national 
treatment to all products. 
113. During the last TPR, some Members expressed c oncern about certain aspects of the country's 
SPS and TBT regimes. Competing and conflicting standards may create technical barriers to trade. In 
our advance written questions for today's TPR, we rai sed our concerns about some recent restrictions 
on imports of beef, pork and/or poultry from the EU. We hope to study replies by Trinidad and 
Tobago in detail.  
114. As regards standards in general, the EU appr eciates Trinidad and Tobago's efforts to comply 
with WTO requirements on standardisation. The country is a member of the International Standardization Organisation and an affiliate member of the International Electrotechnical 
Commission (IEC), and it is adopting international standards as national standards where appropriate 
and applicable. The EU encourages Trinidad and To bago to adopt internati onal standards as national 
standards to a greater extent. This w ill help boost its international trade. 
115. In conclusion, let me just reiterate that the EU has a close, long-standing relationship with 
Trinidad and Tobago, which we value greatly. We  acknowledge the country for the progress it has 
made since the last review on several fronts. And we encourage it to continue with its domestic, 
regional and multilateral efforts to facilitate trade,  increase inward investment, and grow its economy 
in a sustainable way. The EU rema ins confident that at Trinidad and Tobago's next TPR, we will see 
further progress. WT/TPR/M/260 
Page 22  
 
  MEXICO 
116. First of all, I would like to refer to the va rious economic challenges faced by Trinidad and 
Tobago.  The most important is to lessen its marked dependence on petroleum and gas, sectors which as a whole account for three quarters of its exports and half of government re venue.  This dependence 
also means that the economy is susceptible to fluctu ations in international prices for these inputs.  
Moreover, the decline in reserves of these forms of energy should encourage policies to develop the 
downstream phases of petroleum and gas processing. 
117. Like many economies in Latin America and the Caribbean, Trinidad and Tobago has felt the 
effects of the global financial crisis.  This cau sed an increase in its fiscal deficit between 2009 and 
2010 following the bailout of two subsidiaries of an insurance company.  Nevertheless, because of its 
low level of public debt and its in ternational reserves, Trinidad and Tobago was able to face up to the 
impact of the global economic crisis without any seri ous problems.  We also note with satisfaction the 
amendment of its Insurance Law in order to stre ngthen regulations on information and capitalization 
in this sector.  We also commend Trinidad and To bago on having withstood the international crisis 
without taking protectionist trade measures. 
118. Another important challenge facing Trinidad a nd Tobago is to move ahead with the process 
of regulatory reform in various areas.  Legi slation on anti-dumping, safeguards, government 
procurement, intellectual property and investment ne ed to be adopted.  Regarding the latter, although 
Trinidad and Tobago does not impose restrictions on investment, the lack of a legislative and 
regulatory framework could discourag e foreign investment in sectors other than gas and petroleum. 
119. At the sectoral level, there are also considerab le challenges in its agricultural sector, which is 
in continual decline despite th e subsidies and guaranteed pri ces it receives.  The uncertainty 
concerning land tenure is one of the elements lim iting productivity in this sector and needs to be 
addressed. 
120. The services sector only accounts for 40% of GDP, but generates 70% of jobs.  Although the 
flow of tourists has decreased as a result of the global economic downturn, the tourism sector could 
become one way of achieving diversification of the economy.  Increasing exports of services, which 
declined by some 30% between 2005 and 2010, s hould become an essential component of domestic 
policy. 
121. As regards tariff policy, the report indicates th at Trinidad and Tobago applies an MFN tariff 
of 20.2% to agricultural products, one of the highest in the world (143
rd out of 176 countries for which 
data on applied tariffs are availa ble).  For industrial goods, the MFN applied tariff is 6%, while the 
bound rate is 51.4%, so there is considerable "leeway"  in the tariff system that could be eliminated.  
Although Trinidad and Tobago is a small and vulnerable economy, the "leeway" existing does not 
help to boost exporting industries because of the in security it creates for the purchase of inputs.  There 
are discrepancies in tariff information depending on the source consulted ( World Tariff Profiles 2011 , 
the Secretariat report, or the Integrated Database).   We should like to know  why different statistics 
have been generated. 
122. We welcome the measures taken to facilitate tr ade by introducing an electronic system for 
submitting documents, which has reduced the time  taken for customs clearance from three to 
five days down to two days for goods entering by sea and 12 hours for those coming by air.  We also commend the efforts made to make the single window project operational this year.  WT/TPR/M/260 
 Page 23 
 
 
  DOMINICAN REPUBLIC 
 
123. Trinidad and Tobago is one of the small and vulnerable economies in the Caribbean, with a 
foreign trade openness index of 85%  and exports that are highly dependent on the production of 
petroleum and its by-products and natural gas, whic h account for three quarters of exports and half of 
government revenue.  Concerning Trinidad and Toba go's macroeconomic performance, we note that 
the economy's rate of growth was above the global  rate between 2005 and 2008, but because of the 
global crisis, the 50% drop in the value of expor ts brought per capita GDP down by 30% in 2009.  In 
2010 and 2011, the economy still felt the effects of  the crisis, with negative rates of growth. 
124. On the other hand, Trinidad and Tobago show ed far-sightedness during the growth phase by 
creating the Heritage Stabilisation Fund, which is financed by the estimat ed surplus revenue from 
petroleum exported and which has proved a stabilizing element, offsetting to some extent the negative 
impact of the crisis.  The authorities maintained a fiscal surplus for a decad e up to 2009, when they 
had to deal with the bankruptcy of two large insu rance companies, which, combined with the global 
financial crisis, meant that fiscal resources corres ponding to 12% of GDP had to be utilized.  Even 
with this high fiscal expenditure, the authorities' sound macroeconomic manage ment enabled Trinidad 
and Tobago to maintain a satisfactory level of in ternational reserves equiva lent to 14 months of 
imports and a low level of external debt servi cing equivalent to 3.3% of total exports.  
The effectiveness of this policy can also be seen in the commendably large decrease in the public debt 
from 51% of GDP in 2004 to 36.3% in 2011, a lower rate of unemployment of only 5.3%, and single-digit inflation, except for 2008 and 2010, in  which it rose slightly above 10% because of higher 
global prices for imported foodstuffs. 
125. The macroeconomic economy is, however, facing tw o serious challenges in the medium term.  
The first is to diversify exports because of dec lining energy reserves, which will also require a 
competitive exchange rate in the short term.  Th e second is to contain and lower the high non-energy 
public deficit, which represents 20%  of GDP.  Two objectives which we are certain will be pursued in 
the Medium-Term Policy Framewor k developed and implemented by the authorities for the period 
2011-2014. 
126. The Secretariat report also shows that important reforms are still pending.  These include 
legislation on anti-dumping and safeguards, legisl ation on government procurement, the Copyright 
Act, which has been approved but not yet implemen ted, and the new legislation on investment, which 
has not yet been enacted.  We urge the authoriti es to speed up these reforms and enact and implement 
the new legislation because a clear and well-define d legal framework, added to  Trinidad and Tobago's 
excellent external indicators, gives investors secu rity and predictability, thereby increasing flows of 
foreign investment and production and trade. 
127. With regard to customs procedures, we welc ome their improvement, which should continue 
with the introduction of electronic documentation and the single electronic window in 2012.  
We commend Trinidad and Tobago on having sto od by its commitment to open trade without 
imposing restrictive measures during the crisis.  We  note with satisfaction the reduction in applied 
MFN tariffs to an average of 8.5%.  The Secretar iat report, however, states that there are 50 tariff 
lines for which the applied rates exceed the bound ra tes.  There are also heavy surcharges, for 
example, the 75% on icing sugar.  In our view, such  situations need to be remedied because they upset 
the flow of trade and violate the commitments made in this Organization. 
128.
 Trinidad and Tobago is an important tradi ng partner for the Dominican Republic, as a 
signatory to the Free-Trade Agre ement between the Dominican Republic and CARICOM, and to the 
Association Agreement (EPA) between CARIFORUM and the European Community.  We also have 
close technical collaboration as members of the AC P Group and the Small and Vulnerable Economies 
grouping.  Trade between the two countries, however , shows a deficit in favour of Trinidad and WT/TPR/M/260 
Page 24  
 
  Tobago, and in 2010 it amounted to US$453 million.   Among the main products imported by the 
Dominican Republic from Trinidad and Tobago we may mention:  natural gas, propane gas, iron and 
steel rods, and mineral and chemical fertilizer.  The main products exported to Trinidad and Tobago 
include polyester, preparations for soups and broths , and steel reinforcing bars.  We hope that our 
trade relations will become even cl oser over time and that the trade balance will improve in favour of 
the Dominican Republic's exports as well, because our country can be an excellent and reliable 
regional supplier of food products to  Trinidad and Tobago's population. 
PAKISTAN 
129. The period under Review had dramatic effect s on the economy of Trinidad and Tobago.  
Before 2009, Trinidad's economic performance was quite remarkable;  the growth rate was much 
above the global growth rate.  The unemployment ra te fell from 8% in 2005 to a record low of 4.6% 
in 2008.  However in 2009-10 it again went up to 5.9%  but the declining trend in 2011 is an indication 
that the economy recovery process is on track.  They have not resorted to any protectionist measure 
which is commendable. 
130. Trinidad's openness to international trade remain s strong;  there is an improvement in their 
debt to GDP ratio in 2011 (36.3%) as compared to 2010 (38.5%).  The outlook for 2012 has to be seen 
in the backdrop of the global economic situati on, shocks in the European region and weak 
performance of the U.S. economy will have its to ll on Trinidad and Tobago as well because these are 
two primary markets outside CARICOM.  The macr o indicators and a strong balance of payment 
position will steer them through this period and it  seems that the country is on a steady path to 
recovery. 
131. The Government is using information and comm unication technology to build a modern trade 
facilitation infrastructure as a part of its policy to improve its competitiven ess and "doing business" 
environment in 2012.  A National Innovation System is also being established as part of the National 
Planning Framework to ensure contribution of indigenous knowledge and focus on R&D. 
132. Some of the challenges faced by the country are diversification; investment in alternative and 
renewable energy;  investment in human resour ce and creation of knowledge based economy;  
services sector is identified as the driving force for future development.  A conscious move through a 
government led policy towards a technology driven , knowledge based innovative economy seems to 
be the right path and I wish them success in their endeavours. 
PERU 
133. Peru shares with Trinidad and Tobago the comm itment to a fair and equitable rules-based 
multilateral trading system that is supportive of Members' development objectives.  Our two countries 
are also firmly committed to the negotiating process under the Doha Development Round as we recognize that its successful conclusion will bring benefits to all Members. 
134. We welcome the fact that the Government of Trinidad and Tobago, like Peru, is making the 
best possible practical use of information and communications technology to create a modern trade 
facilitation infrastructure in the country, including the single electronic window or the single foreign 
trade window, as we know it.  This will allow sizeab le reductions to be made in terms of time, 
documentation and, ultimately, costs, and will e nhance the competitiveness of its foreign trade 
because of its positive horizontal effect. 
135. Our delegation took this opportunity to submit questions from Peru's National Supervisory 
Authority for Customs and Tax Administration concerning Trinidad and Tobago's Customs 
Administration's use of the reasonable doubt mechanism - provided in Decision 6.1 of the  WT/TPR/M/260 
 Page 25 
 
 
  WTO Customs Valuation Committee - and of a risk ma nagement system to establish the percentage of 
imports subject to physical inspection. 
INDIA 
136. We are encouraged by the consistent and unw avering commitment of the government of 
Trinidad and Tobago to integrate into the multilate ral trading system and maintain an open trading 
regime. We welcome the various initiatives taken by the government in this regard while enhancing 
the economy's growth and competitiveness. We are happy to note that Trinidad & Tobago has not 
resorted to any protectionist trade measures despite the economic crisis and has in fact been able to 
successfully overcome the crisis. Growth has resu med again in 2010 with the economy projected to 
grow at 1.5% in 2011; GPD per capital is expected to reach US$ 20,300 in 2011.  
137. As mentioned in the Secretariat Report, the heavy dependence of Trinidad and Tobago's 
economy on oil and gas, which accounts for three qua rters of its exports, has made it particularly 
sensitive to global price fluctuations. Fall in oil & commodity prices following the 2008 global 
financial crisis led to a significant drop in GDP as well as per capita income. In this backdrop, we 
welcome the policy of the Government of Trinidad  and Tobago to encourage diversification away 
from dependence on the oil and gas sector for sustai ned growth & development of the economy which 
forms an important component of the medium te rm policy framework 2011-14 (MTPF) adopted by 
the government.  
138. We commend Trinidad and Tobago for its open and liberal FDI regime encouraging 
investment in all sectors. The tariff structure of Tr inidad and Tobago is simple and aligned with the 
common external tariff of CARICOM where 100% of its tariff lines are bound and the average 
applied MFN tariff is at 8.5%. We appreciate the steps taken by the Government of Trinidad and 
Tobago to streamline its customs procedures by introducing electronic documentation and a single 
electronic window for facilitating trade and cutting transaction costs.   
139. In terms of sectoral development, it is a matter of concern that agriculture remains a small and 
declining part of the economy despite high level of support and emphasis on the sector. We encourage 
the government in its efforts towards the developmen t of a modern productive agricultural sector that 
is internationally competitive and that generates su stainable income and ensures food security for the 
nation by enhancing production and improving land management. We also encourage the 
government's policy of diversification in the services sector, which accounts for over 46% of GDP and 70% of employment, by promoting high growth tourism and transport services.  
140. On the bilateral front, India's ties with Trinidad  and Tobago are rooted in history and marked 
by decades of friendship and close cooperation. Peop le of Indian origin c onstitute over 40% of the 
country's population forming an integral part of the economic, political and social fabric of the 
country, and represent an important facet of our bila teral relationship. Bilateral trade between India 
and Trinidad and Tobago amounted to US$140 milli on in 2010-11, comprising exports from India 
worth US$60 million and imports from Trinidad and Tobago worth US$80 million. During 2011-12, 
bilateral trade is projected to cross US$200 million.  This of course, is well below the potential. 
141. Several agreements, including a general Trade Ag reement, a Bilateral Investment Promotion 
Agreement, and a Double Taxation Avoidance Agre ement, have provided the foundation for the 
continuing commercial cooperation. A Joint Commission has been set up which met in 
November 2011 to review bilateral economic coope ration. The Prime Minister of Trinidad and 
Tobago paid a State visit to India in January this  year, accompanied by a large business delegation to 
boost trade and economic ties between the two count ries and explore potential areas of cooperation. 
Several Indian companies have shown interest in sourcing oil and gas as well as in making upstream 
and downstream investments in the sector.  WT/TPR/M/260 
Page 26  
 
  142. Technical assistance for capacity building is an important component of our collaboration. 
The number of annual scholarships to Trinidad and Tobago nationals for short term training 
programmes in India has been increased to 50. Indian experts have been deputed in the past to provide 
assistance in the fields of agriculture, small industr ies and IT development.  The outlook for future 
cooperation shows considerable poten tial and we look forward to working with Trinidad and Tobago 
for a diversified and robust growth in  our trade and commercial relations.   
143. We support the aspirations of Trinidad and To bago as a small and vulnerable economy within 
the WTO and agree that successful  conclusion of the Doha Round would bring benefits to all 
Members especially the SVEs.   
CHINA 
144. China and Trinidad and Tobago have been enjoyi ng close and friendly relations ever since the 
establishment of diplomatic ties in the 1970s. In recent years, economic and trade cooperation has 
been developing fast and smoothly. According to  the Chinese customs, bilateral trade in 2011 
amounted to US$627 million, representing an increase of 57% year-on-year. The export of Trinidad 
and Tobago grew by 214.8% so as to reach US$340 m illion, making it able to sit on the surplus side 
for the first time. Commercial presence including inv estment and labor contract cooperation of China 
in Trinidad and Tobago is also on the rise. The Chinese government will continue to encourage 
enterprises with strength and credit to undertake investment and other kinds of cooperation in 
Trinidad and Tobago. Meanwhile, China will keep  providing economic and technical assistance to 
Trinidad and Tobago within its capacity. 
145. China and Trinidad and Tobago also enjoy good cooperation under va rious multilateral and 
regional frameworks. In the WTO DDA negotiations , our two countries share common positions on 
many issues, especially on special and differential treatment for developing countries. In the regional 
front, the two countries have close links under the China-Caribbean Economic and Trade Cooperation 
Forum. In September 2011, Trinidad and Tobago  and China co-hosted the Third China-Caribbean 
Economic and Trade Cooperation Forum in Port of Spain. In fact, Minister Cadiz and my Minister 
co-chaired the forum. On that occasion, Vice Pr emier Wang Qishan of China announced new policy 
measures in six areas for the coming three years to  deepen friendly cooperation between China and 
the Caribbean countries, including finance and inv estment; capacity building; environment protection 
and new energies; culture, education and health; tr ade and tourism; and agriculture and fisheries. 
Specific examples are: China will provide US$1 b illion in loans of preferential nature to the 
Caribbean countries in support of local economic development.  
146. The China Development Bank will set aside US$1 billion to be used as special commercial 
loans for infrastructural development. China w ill make a donation of US$1 million to the CARICOM 
Development Fund. China will provide no less than  2500 training opportunities for the Caribbean 
countries and 30 opportunities with master's degrees for Caribbean professionals to study in China. 
China stands ready to help Caribbean countries bui ld small-scale new energy projects such as those 
with solar power. China will build friendship school s for Caribbean countries. China will support the 
Caribbean countries in increasing exports to Chin a and diversifying its export mix. China will 
continue to send agricultural experts to Caribb ean countries and run agricultural and fisheries 
demonstration projects. Now relevant agencies of China are pushing for the implementation of these 
measures. We are confident they will furthe r enhance China-Caribbean economic and trade 
cooperation. 
147. Now I would like to briefly comment on the Trin idadian economic and trade regime. Trinidad 
and Tobago is a small, open developing economy w ith enviable high per capita income. The biggest 
challenge for economies of this kind is to overco me the susceptibility to external shocks. The only 
advice we could give our Trinidadian friends is to keep the reform momentum combined with  WT/TPR/M/260 
 Page 27 
 
 
  diversification efforts. For our part, the rest of us  should try to listen to and address the appeals of 
small and vulnerable economies effectively.  
JAMAICA 
148. The relations between Jamaica and Trinidad and Tobago, is based on decades of solid 
historic, economic, social and cultural ties.  The sco pe and depth of our rela tions have reached new 
levels within the context of our shared deve lopment vision under the CARICOM Single Market and 
Economy (CSME) which will realize the establis hment of a single seamless economic space and 
economic environment within which businesses and labour will operate.  Trinidad and Tobago is 
Jamaica's main market in the CSME both in th e areas of goods and services and our relationship in 
this and other spheres continues to expand. 
149. Both the Secretariat and Government Reports put into sharp focus the challenges faced by 
Trinidad and Tobago, as with most other small, vulnerable economies, in seeking to achieve 
sustainable economic growth and development.  As  the largest economy in the Caribbean, Trinidad 
and Tobago experienced 15 consecutive years of  real GDP growth.  However, the economy was 
profoundly affected by the global financial and economic crises and suffe red reversals in major 
economic indicators, including a decline in GDP growth, an increase in inflation and unemployment 
and a fall out in the financial sector.  We wish to congratulate Trinidad and Tobago for having 
weathered the storm reasonably well compared to other small developing countries given the 
government's careful macroeconomic management in  the context of its commitment to attaining 
developed country status by 2020. 
150. Trinidad and Tobago's economic profile reflects th e inherent constraints and characteristics of 
small size.  The energy sector is the mainstay of the economy accounting for over three quarter of 
exports and over half of governme nt revenue.  GDP growth is linked to global oil prices leading to a 
high concentration of risk which c ould have serious consequences for sustainable growth.  In a clear 
display of a strong sense of pragmatism, Trinidad  and Tobago implemented the Medium Term Policy 
Framework 2011-2014 (MTPF) with a view to acceler ating the diversification of the country's 
economic base by increasing the contribution of the non-energy sector.  Under the MTPF and other 
related policy frameworks to be developed, the author ities have identified clear strategic targets to be 
achieved, such as the further development of specifi c sectors to transform the country into one of the 
thriving knowledge-based business and transport hubs  in the region.  In pursuance of these goals, 
Trinidad and Tobago has an open and progressive investment regime;  has concentrated on the 
development of critical infrastructural services and has introduced certain measures, such as 
ASYCUDA World, to improve the business envi ronment and reduce business transactions costs. 
151. Trinidad and Tobago maintains a very modern a nd outward-oriented approach to trade policy.  
Consequently, trade continues to play an important role in the country's economic development.  This 
is evident in the trade to GDP ratio which was 101% in 2008 but fell to over 85% in 2010 due to the 
recession.  Regional trade arrangements such as the CSME and the CARICOM bilateral trade 
agreements are vital cornerstones of the country's  trade policy.  Trinidad and Tobago remains an 
advocate for open regionalism and has played an im portant role in the advancement of the CSME 
where policies of trade liberalization and openness have  been important parts of the regional effort to 
integrate gradually and effectively into the wider regional and global trading systems. 
152. At the multilateral level, Trinidad and Tobago remains committed to a rules-based 
multilateral trading system and plays an active ro le in all aspects of the WTO work programme, 
including in the DDA negotiations.  Trinidad and Tobago also particip ates actively in the work on Aid 
for Trade.  They are currently finalizing a National Aid for Trade Strategy and are also involved in 
work on a CARICOM regional strategy on Aid for Trade. WT/TPR/M/260 
Page 28  
 
  SEPARATE CUSTOMS TERRITORY OF TAIWAN, PENGHU, KINMEN AND MATSU 
153. It is evident that, since the last  trade policy review, substantial efforts have been made by the 
government of Trinidad and Tobago to improve its trade regime, through policies designed to 
introduce further liberalization into the economy. We are pleased to note that these efforts appear to 
have resulted in a more outward-oriented approach to trade and greater conformity with WTO rules.  
In the period under review, the globa l economic climate has changed dramatically, due in great part to 
the financial crisis, and has negatively affected pr ospects for economic growth.  Like most countries, 
Trinidad and Tobago is still struggling with the consequences, but it is encouraging to see that 
positive GDP growth is predicted for 2012, projected at +1.5%.  
154. Considering the challenges faced by Trinidad and Tobago as a small, resource-based 
economy, we heartily applaud its continued efforts at trade-opening. We are also extremely impressed 
by the new national development plan launche d by the government – the Medium Term Policy 
Framework (MTPF) as it is called - aimed at dive rsifying the economy and reducing its dependency 
on the energy sector.  
155. Equally, we are pleased to note the services sect or accounted for 46% of GDP and for 70% of 
employment. It shows the benefits of Services liberal isation and in this regard, we are looking to work 
with the Trinidad and Tobago for further di scussion in any further Services negotiation. 
156. As far as economic ties between the two of us ar e concerned, the total value of two-way trade 
in 2011 amounted to only US$88 million. Therefor e, we look forward to closer trade and economic 
cooperation with Trinidad and Tobago in the futu re, which we hope will come through continued 
dialogue, both bilateral and multilateral.  
DOMINICA ON BEHALF OF THE OECS 
157. The first sentence of the Secretariat Report declares that Trinidad and Tobago is a high 
income developing country.  This leads me to  recall a well-known phrase which says that it is all 
relative.  Within the 15 member grouping that is the CARICOM, Trinidad and Tobago is considered 
and seen at least by us in the OECS as the big brother in the South.  In fact we have an official 
designation in the group which places Trinidad an d Tobago among the more developed countries as 
opposed to the less developed countries of CARICOM.  This certainly plays out in the dynamics of 
our internal interactions and discussions within the Group which I will certainly not get into here. 
158. However, within the much broader context of the multilateral trading system and the WTO, 
the fact remains that Trinidad and Tobago like all of CARICOM Member States and many others of this Organisation is a small island developing stat e and a small vulnerable economy.  Hence, despite 
its advantages and benefits which flow from its natural endowments the country does face to a greater 
or lesser extent the same and well known structural  challenges, limitations and weaknesses that flow 
from being a small island economy. 
159. The period under Review was a very tumu ltuous one for the global economy and as both 
Reports clearly indicate, Trinidad and Tobago wa s not immune from the turbulence, the negative 
effects of which were felt both nationally and regionally.  However, both Reports indicate that the 
macroeconomic performance of the country was on the whole positive though mixed and somewhat 
volatile.  The ability to weather the storms, eruptions  and quakes of the last four years has emanated 
from prudent policy decisions that have taken fu ll advantage of its natural resource endowments 
leading to strong and solid fundamentals. 
160. Moving forward, however, there is recognition of  the challenges and threats that lie ahead.  
Externally, the outlook for the global economy rema ins uncertain as aftershocks, rumbles and gusts  WT/TPR/M/260 
 Page 29 
 
 
  persist in various locations.  Internally, both Reports  point out that the energy sector, specifically oil 
and gas continue to dominate the economy while production declines and the reserves to production ratio is low.  The immediate and major challenge  of diversifying the economy is therefore on the 
forefront of the government as the Report states.  He re it would seem that the need to diversify the 
economy is a challenge which most if not all small isla nd economies face.  Whether as a result of 
resource endowments or historical antecedents the need to move away from mono-crop, mono-
resource or mono-service based economies to a broader based economy is one which the OECS can certainly appreciate. 
161. In light of that we therefore commend the Government of Trinidad and Tobago for the steps 
that they have taken in that direction beginning  with the formulation and articulation of its new 
national development plan, the Medi um Term Policy Framework.  Also  notable is the development of 
an integrated national export strategy and an aid fo r trade strategy.  The need for further reform to 
achieve the country's stated goals are recognised.  The Secretariat Report notes that the pace of reform 
in many areas has been slow though there has been some progress.  We can only encourage Trinidad 
and Tobago to continue its reform  initiatives and declare that we  fully understand the capacity 
challenges which small economies fa ce in their reform efforts. 
162. In terms of trade policy formulation and im plementation including the stated goals and 
objectives and institutional framework, there is much to be learned from Trinidad and Tobago by us 
the smaller economies.  We have taken particular note of and commend Trinidad and Tobago for its 
consultative process of trade policy formulation within its tripartite institutional framework.  It is an 
approach the countries of the OECS at various levels are seeking to emulate. 
163. From both Reports it is evident that like most  if not all small isla nd developing economies, 
the trade and investment regime of Trinidad a nd Tobago is by necessity largely open and outward 
looking.  For small islands to develop they have to  trade;  they need investment, largely foreign 
investment, to help drive that process.  Trin idad and Tobago is known within CARICOM to be 
aggressive and on the vanguard in the pursuit of markets for its exports and in forging bilateral and 
regional arrangements and agreements  with its neighbours near and far.   As a small island vulnerable 
economy in an ever connected and integrated worl d the benefits of further and deeper regional 
integration is recognised and articulated in both Reports.  Trinidad and Tobago's steadfast 
commitment to CARICOM and the CARICOM Singl e Market and Economy (CSME) is therefore 
critical and also very important to the OECS Member States. 
164. On the sectoral policies and developments, the theme of diversification towards a knowledge 
based and innovative economy continues.  The services sector particularly energy services, finance, 
tourism, creative industries and ICT are being target ed.  The particular challenges of developing the 
agriculture sector have been highlighted by both Reports and would certainly be a concern from a 
food security perspective as well as within the broader context of econom ic diversification. 
165. In conclusion, the Secretariat and Government Reports point to several areas where Trinidad 
and Tobago must be commended and which other developing countries can emulate.  Certainly, there 
is work to be done;  and while the indicators situ ate the country in a very advantageous position there 
are still challenges and vulnerabilities as a consequence of size. 
EL SALVADOR 
166. We should like to start by congratulating the Government of Trinidad and Tobago on the 
economic performance achieved since the previous Tr ade Policy Review in 2005;  we should also like 
to emphasize that Trinidad and Tobago has continued to play an active part in the multilateral trading 
system, maintaining an open and liberal trade policy without resorting to protectionist trade measures, 
even at a time of global economic and financial crisis. WT/TPR/M/260 
Page 30  
 
  167. Like my country, as a small and vulnerable economy with limited supply capacity, Trinidad 
and Tobago recognizes the importance of trade as a t ool for development and, therefore, considers 
that the multilateral trading system can help to l essen its vulnerability.  We therefore urge Trinidad 
and Tobago to continue its active participation in  the various initiatives promoted by the Small and 
Vulnerable Economies grouping designed to ensure th e effective integration of our countries into the 
global economy. 
168. We note with satisfaction the implementa tion of the 2011-2014 Medium-Term Policy 
Framework (MTPF), which recognizes that further refo rms are needed to create a more productive, 
competitive and diversified economy, driven by innova tion that will lead to "Prosperity for all".  
We also congratulate the Government on th e trade facilitation measures adopted with the 
implementation of ASYCUDA and the single electronic window. 
169. We note that, despite the efforts made in r ecent years, Trinidad and Tobago's exportable 
supply capacity is still limited, mainly consisting of exports of petroleum, gas and sugar.  
We therefore urge the Government to pursue its  plans to diversify its economy and expand the 
number of exportable products. 
170. Likewise, we believe it is important to co mplete the internal procedures required to 
implement the legislation on investment, on intellect ual property and on safeguards, mechanisms that 
will give foreign investors and exporters greater legal security. 
171. For countries such as Trinidad and Tobago, the mobilization of new predictable, sustainable 
and effective financial resources is a key element in  strengthening trade capacity so the Aid-for-Trade 
initiative is an essential tool for such countries. 
172. In this connection, we congratulate the Government of Trinidad and Tobago on working 
towards the development of a National Aid-for-Trade  Strategy, in cooperation with the IADB, as we 
believe that this will greatly help in maki ng international coopera tion more effective. 
BOLIVARIAN REPUBLIC OF VENEZUELA 
 173. Even more than the ties that bind us as neighbouring countries, for both the Bolivarian 
Republic of Venezuela and Trinidad and Tobago petroleum and gas have traditionally been the 
predominant sectors of our economies.  As a result, bo th countries have been su sceptible to changes in 
oil and gas prices and, within the review peri od, to the fall in prices following the 2008 global 
financial crisis, which had a ne gative impact on both economies. 
174. Trinidad and Tobago's economy has not been i mmune from, and continues to be vulnerable 
to, external upheavals such  as the current global economic and financ ial crisis which, as we have read 
in the reports, has had an impact on the growth of this island State.  We acknowledge the major efforts 
made by Trinidad and Tobago during the review peri od with a view to encouraging diversification of 
the economy and lessening to a large extent its dependence on the petroleum and gas sectors. 
175. In the case of Trinidad and Tobago, we note with  satisfaction the fact that its short- and 
medium-term diversification programme has given a large place to strategic intervention, especially 
for social infrastructure projects and action that has a major impact on the community, inter alia , 
boosting the creation of jobs.  This will undoubtedly  help the economy to recover and lay down the 
bases for sustainable economic and social growth. 
176. In relation to energy, we note with interest the way in which energy policy has been adapted 
to current domestic and international challenges, ag ainst a negative background of declining levels of 
reserves and, as a response, the encouragemen t of downstream processing of oil and gas and  WT/TPR/M/260 
 Page 31 
 
 
  petrochemicals.  We also acknowledge the valiant efforts made to involve the population in the 
development of the current energy policy and give  it local content, particularly through public 
consultation in early 2011, which has encouraged  and facilitated domestic participation in the 
petroleum and gas industry at various levels. 
177. At the bilateral level, our two countries not only share a common space in the Caribbean but 
also face similar challenges of economic diversification as the two economies are highly dependent on 
petroleum and gas.  It should be noted that, in  2010, the two countries signed an agreement on the 
joint exploitation of the gas reserves located on our common maritime borders. 
178. At the trade level, our bilateral relations ar e mainly governed by Partial Scope Agreement 
No. 20, signed within the LAIA framework, with the aim of boosting trade between the two countries 
by granting tariff preferences and lifting or reducing non-tariff restrictions. 
179. The Bolivarian Republic of Venezuela, as an observer at CARICOM and also aware of the 
need to speed up the integrati on process in Latin America and the Caribbean in order to make the 
region more internationally competitive and facilitate  its inclusive development, has tightened its 
trade links by means of a bilateral agreement with Trinidad and Tobago, endorsed under this 
subregional regime. 
180. Both countries also belong to an important s ubregional forum, namely, the Association of 
Caribbean States.  In the AC S Special Committee on Trade Development and External Economic 
Relations, we have worked together to foster coope ration and integration and to build and consolidate 
an enhanced economic space for trade and investment  in the Greater Caribbean .  This space has also 
served for the promotion of understanding and the conv ergence of positions in areas of mutual interest 
within the major negotiation processes like the WT O and the current Doha Development Agenda. 
181. In connection with the Doha Round and as the two countries face similar challenges in 
relation to domestic agriculture, more particularly with regard to food security and rural development, 
Trinidad and Tobago and the Bolivarian Republic of  Venezuela have worked together under the 
umbrella of the G-33.  We also congratulate Trinidad and Tobago on its commitment to the 
multilateral trading system. 
NIGERIA 
182. Trinidad and Tobago is a high income devel oping country with a GDP per capita of over 
US$15,500.  It has the largest economy in the CARICOM group, with a population of about 1.3 million, and it is the third most populous country.  Trade is very important to the economy, with the value of imports and exports of goo ds equivalent to about 78% of GDP. 
183. The economy is dominated by oil and gas, whic h account for three quarters of exports and 
half of government revenue.  Therefore, the economy is sensitive to changes in oil and gas prices, and 
the fall in prices following the 2008 global financial crises led to a drop in GDP per capita from nearly 
US$21,000 in 2008 to US$15,000 in 2 009 before growth resumed in 2010.  The financial crises also 
hastened the collapse of an insu rance company, the CL Financial Group, which had two subsidiaries 
based in Trinidad and Tobago.  The government bail out of the two subsidiaries is expected to cost 
over 10% of GDP and resulted in relatively large fiscal deficits in 2009 and 2010.  Trinidad and 
Tobago has been able to weather these events because it has low pub lic-sector debt, adequate foreign 
exchange reserves and, up to 2009, it had been running large fiscal surpluses. 
184. Nigeria is pleased to note that the Government  is encouraging diversification away from 
dependence on the oil and gas sector.  Declini ng oil production and the low reserves-to-production 
ratio for both oil and gas make this policy essential and it is a central thrust of the Medium Term WT/TPR/M/260 
Page 32  
 
  Policy Framework 2011-14 (MTPF), which was issu ed in October 2011.  The policy focuses on the 
promotion of an environment for growth a nd competitiveness on a foundation of macroeconomic 
stability, strengthening the functioning of the lega l system, providing stable government, promoting 
savings and investment, making strategic interventi ons with public-sector spending (especially in 
social infrastructure projects), and high impact in terventions in communities and job creation.  Can 
the delegation of Trinidad and Tobago describe the steps it has taken to implement the Medium Term 
Policy Framework on 2011-2014? 
185. The Secretariat Report indicates that at the time  of the last Trade Policy Review of Trinidad 
and Tobago in 2005, various laws were either bei ng reviewed or drafted a nd have now been passed 
into law.  However, these laws are yet to be impl emented.  Nigeria would like to know the efforts that 
the Government of Trinidad and Tobago is maki ng to ensure that the laws are implemented. 
186. At the bilateral level, Nigeria has long-standi ng relationship with Trin idad and Tobago dating 
back to 1962 when full diplomatic relations was established.  The bilatera l relations have been 
characterized by cooperation and trust between the le aders of the two countries, and set to continue to 
grow through the desire of our two countries to forge ahead in addressing the important issues that 
would make the world a better place to live.  The b ilateral relations generally cover the establishment 
of significant agreements between the two countries, including the Agreement on Economic, Scientific and Technical Cooperation;  the Agreem ent on Cultural and Educational Cooperation;  and 
the Nigeria-Trinidad and Tobago Joint Commission. 
187. Nigeria is happy to note that the two countri es are cooperating to improve cultural carnivals.  
The synergy started with the participation of Trin idad and Tobago in the 2011 Abuja carnival and the 
presentation of a steel band, a symbol of Trinid ad and Tobago's popular annual carnival to the 
Government of Nigeria.  This was followed with th e participation of the Nigerian Government in the 
2012 Trinidad and Tobago International Carnival Festiv al.  It is Nigeria's hope that our participation 
would help our country learn the techniques and st rategies that have made the Trinidad and Tobago 
Carnival a billion dollar venture. 
188. In conclusion, Nigeria considers Trinidad and Tobago as an important developing country 
Member of the WTO and ACP Group, and looks forw ard to further collaboration in the ongoing DDA 
negotiations.  My delegation would like to use opport unity to acknowledge the Trinidad and Tobago's 
contribution through the effective and productive Ch airmanship of the Negotiating Group on Rules by 
Ambassador Francis and the Vice-Chairmanship of  t h e  M C 8 .   I n  t h i s  c o n t e x t ,  w e  w i s h  t o  
acknowledge the constructive and pro active engagement of the delegation of Trinidad and Tobago in 
Geneva.    
ARGENTINA 
189. We welcome the recovery in per capita GDP in  Trinidad and Tobago recorded in 2010 and 
2011, following the sharp decline in 2009 as a result of the international financ ial and economic crisis 
that began at the end of 2007. 
190. With regard to bilateral trade between our count ries, there has been an exponential increase in 
Argentine imports of products from Trinidad and Tobago, which rose from US$13 million to 
US$1.2 billion in 2011.  Without prejudice to th e outstanding performance shown by these figures, we 
consider that there is still considerable potentia l for growth of bilateral trade because of the 
non-competitive – and indeed in some cases compleme ntary - nature of the main components of this 
trade, together with the growth in GDP in both economies in recent years.  WT/TPR/M/260 
 Page 33 
 
 
  191. As to exports from Argentina to Trinidad and Tobago, these mainly consist of food products 
such as dairy produce, soya bean and peanut oil, inter alia , while our imports from Trinidad and 
Tobago are almost exclusively liquefied  natural gas and its by-products. 
192. In this connection, like many other developing countries, Trinidad and Tobago is facing the 
challenge posed by the concentration of its exports  on just a few products, in its case from the energy 
sector, which means that the economy's performance is  susceptible to changes in petroleum and gas 
prices.  We therefore welcome the efforts being ma de by the Government to diversify its economy. WT/TPR/M/260 
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  V. REPLIES BY THE REPRESENTATIVE OF TRINIDAD AND TOBAGO AND 
ADDITIONAL COMMENTS 
193. During the course of the opening session, Trinidad and Tobago discerned some common 
themes which we believe Members will like us to elaborate on. Additionally, I will take the 
opportunity to briefly respond to some other specific issues which were raise by the distinguished 
Members.  
194. It is particularly heartening that almost a ll of the Members referred favourably to the 
Government of Trinidad and Tobago's Medium Te rm Policy Framework.  The Medium Term Policy 
Framework (2011-2014) embracing the theme "Innovati on and Lasting Prosperity" outlines the plans 
and perspectives of the Government of Trinidad  and Tobago. The framework is guided by seven 
interconnected pillars as follows:  Pillar I – Pe ople Centred Development;  Pillar II – Poverty 
Eradication and Social Justice;  Pillar III -  Nationa l and Personal Security;  Pillar IV – Information 
and Telecommunication Technologies aimed at underp inning the creation of a modern competitive 
economy; Pillar V – A more Diversified Know ledge Intensive Economy which addresses building 
international competitiveness, stimulating new ar eas of economic growth and moving up the value 
chain;  Pillar VI – Good Governance which treats wi th institutional responsiveness;  and Pillar VII – 
Foreign Policy which treats with the strategic positioning of Trinidad and Tobago at the regional, hemispheric and global levels. 
195. These seven pillars define the broad strategic approach of the GOTT to achieving sustainable 
growth and human development.  It must be indicat ed that the policy envir onment is geared towards 
achieving economic and social transformation and st riking a balance between the "soft" and "hard" 
issues. 
196. Trinidad and Tobago has traditionally benefitted from a number of preferential trade 
agreements with such partners as the USA, the EU and Canada. Trinidad and Tobago appreciates its 
trading relationships with such countries and continu es to work with its partners in the Caribbean to 
bring these trade agreements into the fold of the standard WTO requirements. In this regard, the 
notification of the CARIFORUM/European Communit y Agreement, of which Trinidad and Tobago is 
a key signatory, represents one step in this dir ection. Currently, as part of the CARICOM region, 
Trinidad and Tobago is negotiating a Trade and Development Agreement to replace the CARIBCAN 
arrangement with Canada where the waiver is sche duled to expire in 2013. This Agreement will be 
subsequently notified when completed. Trinidad  and Tobago's commitment to the CARICOM Single 
Market Economy will remain unchanged.  Further, there is growing interest in emerging markets 
including the BRIC countries and those in Latin America.  
197. We note the concern over the policy space which ex ists in Trinidad and Tobago's agricultural 
tariffs in terms of its applied and bound rates. In this regard, Trinidad and Tobago looks forward to 
making its commitments in this area in the c ontext of the completion of the Doha Round. 
198. Trinidad and Tobago was one of the first o il producers when commercial oil production 
occurred in 1908. Since then, we have been blessed with the enormous wealth which this sector has 
provided and equally challenged in our  efforts to develop other sectors. However, let me assure you, 
that the further diversification of the economy is a pr iority for the Government. Some of the strategies 
we are pursuing include:  the promotion of opportunities downstream of the energy sector which will include the linking of the energy sector and the manufacturing sector (for example from Natural Gas to Melamine into plastics, etc.); expansion into  energy services exports;  the targeting of the non-
energy sectors for development: printing and packaging; food and beverage; fashion, maritime 
industry; music and entertainment; film; and yach ting;  development of sector niches that offer 
opportunities to create value and develop businesses that  have strong long term growth prospects (for  WT/TPR/M/260 
 Page 35 
 
 
  example creative industries, renewable energy produ cts, ICT and tourism); and operationalization of a 
National Innovation System for Trinidad and Tobago. 
199. We note the observation of the Secretariat and Members on the pace of implementation and 
we recognize that this area requires significant wo rk. However, since our last review we have 
managed to make significant advancements in many  areas including:  ICT: we have enacted new laws 
in respect of facilitating electronic commerce and data  protection;  Financial Services: we have passed 
a new Financial Institutions Act wh ich will strengthen further the supervision of that sector; and 
Stabilization Fund: we have passed legislation to protect the uses and access to our Sovereign Wealth 
Fund through the Heritage and Stabilization Fund  Act of 2007 which now stands in excess of 
US$4 billion. 
200. We are also committed to completing reforms in  the following areas in the shortest possible 
time period:  Government Procurement: the new Administration came to office promising better 
stewardship of Trinidad and Tobago's wealth. In th is regard with three months of taking office, it 
established a Joint Select Committee of Parliament to  review two bills aimed at reforming this area 
based on the principles of efficiency, transparen cy and value for money. We are committed to 
enacting a new procurement law by the end of 2012.   Investment protection: Trinidad and Tobago's 
Foreign Investment Act  (FIA) ensures that there are no legal performance requirements for investors 
and there are no restrictions on repatriation of capita l, profits, dividends, interest, distributions or 
gains on investment. We currently offer national treatment for foreign investment. However, we 
intend to go even further to protect investments by  updating this existing piece of legislation.    
201. The Government of Trinidad and Tobago's overa rching goal for the agricultural sector is to 
enhance food security and rural development. In th e context of increasing food prices and food price 
volatility and the challenges of climate change, our obj ective is to grow locally and make available to 
our citizens nutritious and affordable food in su fficient quantities to ensure our food and nutrition 
security. 
202. We envisage that this approach will result in:  a reduction in our food import bill which now 
stands at US$600 million for a small country of 1. 3 million people; further reduction in inflation 
which at present, is being driven by increasing f ood prices. In fact, on a year-on-year basis, food 
prices rose by 14% in January 2012; creation of sustainable long term productive employment. 
Interestingly, the energy sector which accounts fo r approximately 45% of our GDP accounts only for 
3.2% of our labour force. However, the agriculture sector which accounts for 0.6% of our GDP accounts for approximately the same percentage of th e labour force (3.5%) as the energy sector;  and 
contribution to the diversification of the economy. 
203. In the short to medium term, the government in tends to focus on the development of priority 
commodities in the six major food groups including staples, vegetables, legumes, fruits, livestock and 
aquaculture. In this regard, in order to achieve th e key goals for the sector an enabling environment is 
being provided to encourage increased production a nd productivity. The framework for this enabling 
environment includes:  Policy:  a Revised Sector Policy and Medium Term Action Plan for 
Agriculture;  Legislation:  Trinidad and Tobago will be updating legislation which includes:  Land 
Adjudication Act of 1994, and Land Acquisition (Ame ndment Bill);  Infrastructural Development 
Programme: provision of increased agricultural acce ss roads;  water management and flood control 
infrastructure;  and fisheries infrastructure. 
204. Other programmes that are planned to deal with  the constraints that have plagued the sector 
include: a land distribution programme for increase d production of the targeted commodities;  the 
Agricultural Labour Programme to deal with the pe rennial problem of a shortage of labour to the 
sector; the Young Professionals in Agriculture Deve lopment and Mentoring Programme to encourage WT/TPR/M/260 
Page 36  
 
  youth involvement in the sector; improved technolog y with a focus on research and development and 
innovation; and restructuring of the Agricultural Development Bank. 
205. Trinidad and Tobago operates a very liberal trad ing regime. At present, over 61% of our tariff 
lines are in fact duty-free and the average applied in dustrial tariff rate in 2011 was 8.5% (a reduction 
from 9% in 2004). We nevertheless acknowledge that  there are areas of concern to some Members, 
namely, the few cases where our a pplied rates are higher than the boun d rates. This apparent anomaly 
is related to the country's obligations as a memb er of CARICOM and the application of a CET. 
Nevertheless, we undertake to begin a review process with the aim of remedying this situation by the 
end of 2012, taking into consideration our obligations both under the WTO and CARICOM. 
206. Trinidad and Tobago has progressively redu ced and/or removed a significant number of 
import surcharges over the review period. Currently, charges remain on four items only, namely, icing 
sugar, beet sugar, other flavoured  sugar, and fatty livers of geese and ducks. We are already working 
to treat with the remainder of these tariff lines.  
207. Trinidad and Tobago's IPR legislation is cred ited with providing TRI PS-plus protection in 
many areas and we have continued to upgrade same in order to ensure consistency with the TRIPS 
Agreement.  Since our previous Trade Policy Re view in 2005, Trinidad and Tobago has updated the 
Copyright Act via the Copyright (Amendment) Act (April 2008), and acceded to the WIPO Performances and Phonograms Treaty and Copy right Treaty (November 2008).  The Copyright 
(Amendment) Act, among other things, facilitates enforcement by simplifying the process of filing 
charges. Trinidad and Tobago also intends to accede to the Madrid Agreement and The Hague 
Agreement for the International Registration of Indu strial Designs.  There is also a Trademark Bill, 
2012 before the Chief Parliamentary Counsel which is being finalised. Additionally, amendments to 
the Patents Act of 1996 and the Industrial Designs Act of 1996 will be made. 
208. In relation to the imposition of tariffs on poultry,  several points need to be noted. Firstly, 
Trinidad and Tobago is self-sufficient in the pr oduction of poultry for its domestic needs only. 
Secondly, the domestic poultry industry provides employment to a significant portion of the labour force (approximately 3.2%), and finally, it is accepted that on a per capita basis the country has one of 
the world's highest consumption of poultry. In this light, the government is highly cognizant of the 
importance of the domestic poultry industry and any actions undertaken will be carefully reviewed in 
the context of our domestic requirements and our WTO obligations.  
DISCUSSANT 
209. Trinidad and Tobago has done many things correctly and done them well.  That has been 
acknowledged by the amount of goodwill, complemented  with the fact that the honesty with which 
and the constructive spirit both the Minister and th e delegation from Port of Spain have responded to 
some of the concerns raised.  It is very commendable as it puts us all in the right place where we 
really want to work with you to make things be tter and to help you succeed and build on the existing 
successes you have.   
210. The major takeaway that we can  see from the discussion is th e tremendous amount of support 
for the effort to diversify the economy away from hydrocarbon.  The oil and gas industry was a very nice start up funding, but the fact that they recognise that there is going to have to be a diversification 
there has to be a sustainable economy after that is  already a big step.  The recognition as well as a big 
plan of action has already been devised and put in place.     
211. I note that what exists in Trinidad and Tobago is  a set of very strong values, pushing this urge 
to diversify the economy.  There is trade openness, th ere is a proven track record of trade facilitation, 
and there has been some success in trade-led developm ent and there is a strong desire to continue  WT/TPR/M/260 
 Page 37 
 
 
  along this path.  And this holds a very robust and strong model for many developing countries at the 
WTO. 
212. Many of the questions raised which were answ ered very kindly, pertained to improving the 
trading relationship, to put the institutional capac ities and legislation of Trinidad and Tobago on a 
stronger footing to grow trade to improve its trad ing relationship understanding in the world.  There 
was an urge to strengthen regulation of the insura nce sector to protect citizens and policy holders;  
there was a concern expressed about real state owne rship and the clarity on property and land rights, 
and that can help in attracting foreign investors,  including in the agricultural sector which we 
recognise it is very challenging in terms of providing both employment as well as food security; clearer Government Procurement procedures to pr otect both national and in ternational suppliers;  
better IP protection to spur innovation and creativ ity; better investment regulations as well as clarity 
in agricultural policies.  
213. To take a step back, I think we have really r ecognise that what the Minister characterised two 
days ago as a 21 month old Government, committed to  accelerating the pace of legal and institutional 
reform. Any policy takes about 7 years from plan ning to bearing fruit. We can see therefore the 
challenge that exists in terms of the political dime nsion in terms of the Government needing to lead as 
well as to deliver on the ground something that will sa tisfy not just the population as well as investors 
and other stakeholders that have a key role in the economy.  I think that we can all take a great 
confidence is that an excellent roadmap ex ists in the medium term policy framework. 
214. I also see the concerns that Members have rai sed about tariffs lines, especially about tariff 
rates.  In the same light, as we are looking at an important area of growth for Trinidad and Tobago in 
terms of international trade, naturally all the trad ing partners would want greater clarity and would 
want to know better how we can im prove this relationship.  The clarification on how the impact of the 
domestic tariff lines with those of CARICOM has been  very useful, and we are encouraged that there 
are consultations going on to address this.  
215. Before I conclude I would like to touch upon two more points.  One is the human capital 
aspect which will be a challenge as Trinidad and Tobago tries to diversify its economy.  From 
Singapore's experience it has always been a long-te rm challenge, and one that never goes away, to 
invest in education, in improving the work force in providing the talent and the human capital in the 
various industries you have.  With 100% youth liter acy rate Trinidad and Tobago is very well placed, 
with an excellent schooling system and an educa tion framework which takes free education all the 
way.  These are very rare achievements at a global level. 
216. Related to this, there was some mentioned relate d to Aid for Trade.  Trinidad and Tobago is 
working on both a national strategy as well as a re gional strategy with its CARICOM partners.  The 
ability to contextualize both your own national d esires along with the regional objectives, especially 
when the region is targeting economic integrati on is a very important one.  For Singapore and 
ASEAN we have had much experience in this field,  we see very many similar things being done and 
we are very encouraged by that.  Some of our co lleagues mentioned resources that were available, our 
colleague from China highlighted the very generous gifts to IADB as well as the availability of loans, 
our colleague from Canada mentioned their support tr ough the IADB also.  So resources exist, it is 
now at the level of the various national and regiona l strategies to produce an integrated way with 
which to improve the economy and the objectives that  the Government has for its own future.     
UNITED STATES 
217. We would like to offer some follow-up questions .  Let me start by addressing the issue of 
tariffs.  In response to question 8 regarding the significant difference between Trinidad and Tobago's 
bound rates and applied rates for some agricultural products, Trinidad and Tobago stated that it is WT/TPR/M/260 
Page 38  
 
  looking into the matter.  However, we would appr eciate some additional information regarding what 
steps, specifically, Trinidad and Toba go is taking on this issue.   
218. It has been six years since the last revision of the CARICOM CET in 2006.  A report by the 
World Bank and the OAE that was co-produced wi th the governments of the CARIFORUM States 
dated April 2009 states "Even today, the CET cont ains a number of loopholes and some countries 
have yet to apply it fully. There is wide dispersi on in the range of actual tariffs implemented by 
CARICOM members on imports from non-members.  Th is reflects the large number of exemptions 
from the CET that CARICOM members can use.  Av erage tariffs range from 7.2% in Jamaica to 
30.7% in the Bahamas.  Maximum tariffs are ev en more dispersed, ranging from 40% to 400%."  
Furthermore, a simple search of the CARICOM Secretariat website reveals a number of cases of 
suspensions of the CET made by CARICOM over the years.    
219. Would Trinidad and Tobago please elaborate on the manner in which it is pursuing the matter 
of your applied tariffs exceeding WTO bound rates, especially in light of the fact that six years have passed since the last revision of the CET, of th e record of CARICOM country deviation from the 
CET, and of the history of CARICOM modifications of the CET in other cases?    
220. Trinidad and Tobago indicates that "the reso lution must be addressed within CARICOM."  
What steps has Trinidad and Tobago taken to a ddress this matter of applied rates exceeding bound 
rates in the CARICOM context?  Have other CARICOM countries raised objections to a fellow 
CARICOM member's request to apply a tariff rate  in accordance with its WTO obligations?  And 
finally, in light of Trinidad and Tobago's WTO obligations, when will the government bring its 
applied rates in line with its bound rates?  
221. Also in response to question 9 regarding the increased tariffs and concerns about high food 
prices, Trinidad and Tobago stated that it does not e xpect that a change in the applied tariff will result 
in higher food prices.  Please explain how charging a higher tariff on a food product would not lead to a higher price for the consumer?  
222. Turning to intellectual properties, the Unite d States appreciates the response regarding 
criminal and civil copyright litigation in Trinidad  and Tobago.  Our question 20 was directed at 
learning more about the status of a particular civil case (COTT vs Columbus Communications Case), 
where the High Court of Justice rejected the argument that the company was not required to obtain a public performance license from the collecting societ y.  Please provide additional information on the 
timing and procedures involving appellate review of this case.     
223. Finally, we thank Trinidad and Tobago for the response given to U.S. question 19 on IPR. As 
a follow-up to this question, can Trinidad and Tobago confirm that a ground for refusing protection 
and/or registration of a geographical indication is th at the GI is likely to cause confusion with a prior 
established trademark? 
224. We will provide these questions in writing, a nd we have additional questions on customs 
valuation specifically the reference value datab ase, standards, development process and additional 
questions on IPR. 
EUROPEAN UNION 
225. In our follow-up questions, the EU would like to  refer to Trinidad and Tobago's reply on its 
tariff for spirit drinks, and kindly ask Trinidad an d Tobago to elaborate further on its applied and 
bound tariffs. Secondly, we ask for Trinidad and To bago's intentions as regards ratifying remaining 
two ILO priority conventions.  WT/TPR/M/260 
 Page 39 
 
 
  226. Our additional question requires some further information with respect to Trinidad and 
Tobago's free-trade zone and in particular regardi ng the incentives in the free-zone. We will submit 
these questions in writing to the WTO Secretaria t and hope Trinidad and Tobago will provide its 
replies within one month after the meeting, according to rules of TPRs.   
227. The EU welcomes the progress Trinidad and Tobago  has made since the last Review in 2005 
on several fronts in enhancing its economy, and integrating itself into the world economy. We can 
thus only encourage Trinidad and Tobago to con tinue with its domestic, regional and multilateral 
efforts to facilitate trade, increase investment , and grow its economy in a sustainable way. 
228. Promptly enacting and implementing the necessary legislation remains also essential. I would 
briefly like to come back to the CARIFORUM- EU Economic Partnership Agreement and encourage 
Trinidad and Tobago to make its initial tariff cuts  due under the EPA as soon as possible, and to ratify 
the Agreement. We would also like to invite Trinid ad and Tobago to address our concerns about some 
recent restrictions on imports of beef, pork and/or poultry from the EU Member States.  WT/TPR/M/260 
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  VI. CONCLUDING REMARKS BY THE CHAIRPERSON 
229. The third Trade Policy Review of Trinidad a nd Tobago has given us a better understanding of 
trade and economic developments in the country over the past six years and helped us to measure the 
challenges it faces in further developing its econo my.  Our candid discussion has been greatly helped 
by the full and open participation of the Trinidad a nd Tobago delegation, led by the Minister of Trade 
and Industry, the Honourable Stephen Cadiz, and by  the insightful remarks made by the discussant, 
H.E. Mr. Fook Seng Kwok of Singapore, as well as the questions and statements from numerous delegations and the replies from Trinidad and Tobago. 
230. Members appreciated the active participation of Trinidad and Tobago in the WTO, the 
constructive part it has been playing in the DDA negotiations, and the importa nt role of Minister 
Cadiz as vice-Chairman of the 8th Ministerial Conference in December last year. 
231. In this Trade Policy Review, Members comme nded Trinidad and Tobago on its prudent 
macroeconomic policies that enabled it to weather the global economic crisis and the collapse of two 
insurance companies without resorting to protectioni st measures.  They also appreciated the steps it 
had taken to improve the trading environment, particularly in customs procedures through the 
implementation of ASYCUDA World and they noted that the introduction of the single electronic 
window would also help to facilitate trade.   
232. Trinidad and Tobago was also commended fo r the establishment of the Heritage and 
Stabilization Fund as a way to reduce its exposure to fl uctuations in oil and gas prices.  However, the 
economy still depends on production and exports of oil, gas and relate d products for a limited number 
of markets.  Therefore, it is exposed to price s hocks and downturns in its export markets.  With 
limited reserves of oil and gas, the need for divers ification is clear.  Several Members suggested that 
some sectors, such as creative industries, informa tion technologies and maritime services, were good 
candidates for diversification.  Furthermore, some delegations stressed the development and 
implementation of comprehensive national strategies  and the importance of trade in development as 
recognised in the National Development Plan :  the Medium Term Policy Framework. 
233. The numerous statements, questions and replies voiced in the course of this Review have 
highlighted the fact that Trinidad and Tobago is an open economy and trade is essential to its 
development.  They also noted that there are a nu mber of areas where reforms could be beneficial to 
Trinidad and Tobago by improving conditions for tr ade and investment.  Among the areas noted by 
Members were: 
 Legal and institutional reform:   Many Members noted that several pieces of 
legislation were at various stages of deve lopment and that some of them had already 
been in the process of being prepared at the time of the last Review in 2005.  Several 
delegations suggested that introducing or updating legislation in areas like intellectual 
property, competition policy, continge ncy measures, investment policy and 
government procurement would provide a more conducive economic and investment 
environment thereby making the country more competitive.  I would like to recognize 
here some of the comments made by Minister Cadiz this morning in the sense that 
these legal and institutional reforms are bei ng reviewed by the Government and that 
steps have already been taken in impor tant areas such as information and 
communication technology, financial services and the Stabilization Fund;  
 Diversification:   Members recognized Trinidad and Tobago's efforts at diversifying 
the economy away from the oil and gas sector and they appreciated the Government's 
efforts, particularly through the Medium Term Policy Framework.  Once again, we 
thank Minister Cadiz for going into the details of the seven pillars that make up the  WT/TPR/M/260 
 Page 41 
 
 
  Medium Term Policy Framework as he did this morning.  It should also be noted that 
diversification is not only in sectoral terms – that is away from oil and gas; it can also be geographical, so that Trinidad and T obago could expand its e xport markets and be 
less exposed to downturns in only one or two markets; 
 
 Tariff predictability :  Many delegations welcomed the reduction in the average 
applied MFN tariff during the review period, but several also noted the significant gap between the applied MFN tariffs and the bound rates and urged Trinidad and 
Tobago to make its tariffs more predictable.   In that regard, we note the Minister's 
comments to the effect that Trinidad and Tobago will make its contribution in the context of the Doha Round negotiations.  Members also expressed concern that the 
number of lines for which the applied MFN tariff exceeded the bound rate had 
increased during the period under review a nd asked Trinidad and Tobago to rectify 
this and, we note the Minister's comments to the effect that his Government is in the 
process of reviewing the situation.  A dditionally, a number of Members expressed 
concern about import surcharges and the di scriminatory application of excise duties 
on rum compared with imported spirits; 
 
 Agriculture:   Several delegations noted Agriculture 's small and declining role in the 
economy despite relatively high and increasing levels of support and the Government's emphasis on the sector as an av enue for diversification.  We benefited 
from the Minister's comments on the Government's long-term policy regarding agriculture with the view to increasi ng production and food security improving 
nutrition, and I would like to add my ow n personal emphasis on the importance of 
productivity in that equation. 
 234. Trinidad and Tobago is a high income country – but it is also a small island developing state 
with a small vulnerable economy.  Although oil and gas are the basis for its wealth, dependence on 
this sector also represents its greatest challenge a nd how it manages diversification of its economy and 
trade will decide its further development.  At th e same time it has many advantages, such as an 
efficient public administration, a high standard of education, access to North, Central and South American markets – and it is a popular tourist des tination, made attractive by features such as its 
world renowned Carnival.  Therefore, I am confid ent that, with the implementation of the right 
policies and programmes, Trinidad and Tobago can reduce its dependence on oil and gas and continue 
to develop and raise living standards. 
235. In conclusion, this Review has confirmed the important role played by Trinidad and Tobago 
in the multilateral trading system and the benefits of maintaining  an open economy.  Once again, I 
thank the delegation of Trinidad and Tobago led by Minister Stephen Cadiz, the discussant and 
Members for contributing to an informative and in teresting review.  I also wish to express my 
appreciation to the delegation of Trinidad and Tobago for its oral and written responses during the 
meeting.  We look forward to receiving any outstanding responses within the coming month. 
 
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