By Sue-Ann Wayow
ONE of the biggest markets Trinidad and Tobago should be looking to do with trade with is Ghana in Africa.
Minister of Trade, Investment and Tourism Satyakama “Kama” Maharaj said this country was too small and will soon run out of people to sell to.
Speaking to the media following his swearing-in ceremony on Wednesday, Maharaj said, “Our problem is we are a small country. I didn’t start Sacha in a fashion hub—New York or Paris or LA or Milan—in a little country. And when you grow, you soon run out of markets. You soon run out of people to sell to. We (T&T) have to expand. We’re not in a big country, right? So opening markets, and I think one of the biggest markets we have to explore is Africa.”
He said, “They want to do business with us and we should be focused. West Africa is 470 million people. Republic Bank has 42 branches in Ghana and a base over there. But it takes two days to get to Ghana. But a big airbus can go in eight hours, straight across.
“If you cannot visit, you cannot do business. So we have to open that market and negotiate. They have a similar agreement, same body like over there. I don’t know their name, but we should be forging a duty-free agreement with them. And we’ll have to open factories all over the place to manufacture for that market.”
He also mentioned briefly, the 10 per cent tariff imposed by United States President Donald Trump.
Maharaj said, “There’s always opportunity in any macroeconomic situation like this. Right? There are opportunities that could be exploited. We are looking at it … One thing we never do, we could get knocked down but failure is not getting knocked down.”
Diversifying the economy beyond oil and gas would be one of his priorities.
In a subsequent message posted out on his Facebook page, Maharaj said he was humbled and honoured to accept the role as a government minister in Prime Minister Kamla Persad-Bissessar’s cabinet.
He also thanked everyone who supported him saying the best way to give back to country was to lead with integrity, vision and action.
“This is a responsibility, I do not take lightly. It represents the culmination of more than 45 years of hands-on experience building, learning and leading. As the founder of Sacha Cosmetics, I’ve had the privilege of transforming a simple idea into a world-class brand.
From developing inclusive products like our Amazon best seller Buttercup Powder to navigating global exports, ecommerce and international supply chains, every challenge has been a lesson. I now bring those lessons into national service,” he stated.
As minister, he said his focus will be to:
· Diversify the economy beyond oil and gas
· Expand trade and exports
· Strengthen local manufacturing
· Drive investment and innovation
· Position tourism as a pillar of economic growth
