Kamla: Economic benefits for TT
PRIME Minister Kamla Persad-Bissessar yesterday identified economic benefits as one of the core reasons behind Government’s decision to establish an embassy in Panama.
Addressing the formal opening of the embassy in Panama City, prior to her departure from the Central American nation, the Prime Minister said the “strong commercial relationship between Trinidad and Tobago and Panama” and “benefits to trade that will come with the expansion of the Panama Canal” are two reasons why the embassy was established.
Noting that TT and Panama have had bilateral relations for the last 21 years, Persad-Bissessar recalled that Panama was also the first Central American nation to establish a resident embassy in Port-of-Spain in 1995. “This is one of the reasons why today is a momentous occasion, as we in Trinidad and Tobago will become the first English-speaking Caricom country to establish a resident mission in Panama City,” she explained.
Noting that the TT Partial Scope Agreement Bill was passed last month in both Houses of Parliament and assented to by the President on April 1, Persad-Bissessar said, “This agreement will support economic relations between both countries through the expansion of trade in goods.
She said the agreement will boost trade in areas such as construction services; energy services; port services and information, communication and telecommunication.
Stating that TT and Panama signed a Memorandum of Understanding on Energy Sector Cooperation in March 2012, Persad-Bissessar said this agreement expired on March 12 and “consideration is being given to renewing the agreement given its significance to TT as a net exporter of energy, and to Panama as a net importer.” …READ MORE