PM Kamla remarks at the Americas-Africa Business Forum

The Honourable Kamla Persad-Bissessar Prime Minister of the Republic of Trinidad and Tobago has today, Thursday 18^thApril, 2013, delivered remarks at the “America-Africa Business Forum” on ‘America and Africa: The Decade Ahead.”

The Prime Minister highlighted the value of cooperation and the belief on which the forum was founded, stating that “by working together we can strengthen our economies, generate employment, increase productivity and in so doing provide more opportunities for traditionally under-represented groups like women and youth.” Prime Minister also stressed the importance of venturing out into new non-traditional markets in order to create opportunities for the future.

The Prime Minister acknowledged Africa’s role as home to some of the fastest growing economies in the world, where additional natural resources have also been found. Prime Minister drew reference to Trinidad and Tobago’s use of a natural gas endowment to generate power which was later used to build an industrial platform and suggested that similarly, Africa should use their natural gas in such a manner to develop its people and raise their standard of living.

Prime Minister Persad-Bissessar also noted the value of the Americas which continues to overcome many challenges and this year, has a projected growth of 3.6% for Latin America and the Caribbean according to the Inter-American Development Bank. Prime Minister cited global challenges, such as market volatility, which Trinidad and Tobago faces, being the 6^th largest exporter of Liquefied Natural Gas in the world.

The Prime Minister put forward several considerations for stimulating new paths to prosperity in the face of their global challenges. Mrs. Persad-Bissessar, among other things, stressed the need to stimulate and encourage creative thinking and problem solving in schools, work places, government agencies and the private sector. The Prime Minister also noted the importance of diversifying economies and promoting transparency in all transactions, citing Trinidad and Tobago’s status as a candidate for full membership in the Extractive Industries Transparency Initiative.

Mrs. Persad-Bissessar also emphasized the need to work together to strengthen democracies, support communities, promote  peaceful societies and live harmoniously in today’s global village. In light of this, Prime Minister indicated Trinidad and Tobago’s willingness to provide assistance to the newly emerging energy producing countries in Africa, including working with and sharing best practices in areas which Trinidad and Tobago has excelled such as power generation and the commercialization of natural gas.