By Sue-Ann Wayow
FOREIGN exchange and repatriation earnings were just some of the issues addressed recently between the Central Bank of Trinidad and Tobago (CBTT) and the American Chamber of Commerce of Trinidad and Tobago (AMCHAM T&T).
CBTT Governor Larry Howai met with AMCHAM T&T representatives on Tuesday as part of a series of key stakeholder engagements that began one month following Howai’s appointment in June.
The CBTT in a release stated, “The key areas of discussion included the management of and access to foreign exchange, repatriation earnings, the implications of VAT returns, expanding export led growth, public/private partnerships, diversification, and the expansion of fintechs especially as it relates to improving the ease of doing business.”
Howai accompanied by members of the bank’s management team, indicated that the purpose of the meeting was to discuss the circumstances facing the economy and to proactively collaborate on solutions to address the challenges at this time.
The governor acknowledged that AMCHAM T&T played a key role in enhancing business competitiveness, safeguarding investor confidence and promoting sustainable development and as such, they are a major stakeholder with potential to influence positive change.
Howai said, “The Central Bank will continue to deepen its relationship with AMCHAM T&T with a view to finding creative solutions to make ourselves globally competitive.”
He also expressed “confidence in the ability and talent of our people and proven track record in overcoming obstacles noting that strategic engagements such as this one can only redound to the benefit of our country and its citizens.”
AMCHAM T&T expressed appreciation for the strong signal of collaboration through the forum and engaged Howai offering assistance in the economic challenges.
The release stated Howai urged AMCHAM T&T to engage their membership on the challenges being faced to ensure that there was an understanding by them of the issues involved, and the need for them to identify specific export driven initiatives to assist with the diversification of the economy.
Representing AMCHAM T&T were President Anna Henderson President, Nirad Tewarie, Giselle Thompson, James McLetchie, Stuart Franco, Frances Bain-Cumberbatch and Anderson Basdeo.
