THE Trinidad and Tobago Chamber of Industry and Commerce, on behalf of the International Trade Negotiations Unit (ITNU), is inviting local service providers to join our T&T contingent on the first ever Regional Services Trade Mission to the Dominican Republic, a market of almost nine million prospective customers, from October 16 to 20, 2006.

According to a Chamber release:

The Caribbean is predominantly a services economy as this accounts for more than 50 percent of GDP in all of the region’s economies and even more than 90 percent of GDP in some of them.

In T&T the GDP contribution has averaged more than 60 percent over the past five years.

The Dominican Republic was specifically selected as a priority mission because of:

The existence of growing economic ties between Caricom countries and the Dominican Republic.

A free Trade Agreement with market access for services to be negotiated in the current year, and Partnership with the Dominican Republic in the negotiation of an Economic Partnership Agreement with Europe as the Cariforum Group.

The ITNU and its joint partner, the Barbados Coalition of Services Industry (BCSI) main objective is to promote the export interests of the services sector in these two countries.

The project should also contribute to the realisation of the benefits of the Caribbean Single Market and would be a breakthrough in regional private sector co-operation.

The mission is also expected to further liberalise trade between T&T, Barbados and the Dominican Republic, by increasing linkages and market access opportunities.

For T&T, the Mission will specifically concentrate on the area of Professional and Business Services (including Accounting Services, Architectural Services, Consulting Services and Engineering Services), Construction and Related Services, Energy Related Services, Entertainment Services and IT and Communications Services.

Thirty-eight companies have expressed interest in attending the Mission and the ITNU is currently completing the arrangements for participation.

A packed itinerary has been planned for participants including a media breakfast launch; a business conference with the Dominican Republic business community and individual match making meetings with the opportunity to conduct detailed investigations.