Statement by Prime Minister Kamla Persad-Bissessar on visit of President Maduro
GOVERNMENT OF THE REPUBLIC OF TRINIDAD AND TOBAGO
OFFICE OF THE PRIME MINISTER
STATEMENT BY
THE HONOURABLE KAMLA PERSAD-BISSESSAR, SC, MP
PRIME MINISTER OF THE REPUBLIC OF TRINIDAD & TOBAGO
AT THE
WORKING VISIT OF H.E. NICOLÁS MADURO MOROS, PRESIDENT OF
THE BOLIVARIAN REPUBLIC OF VENEZUELA
NEWS CONFERENCE
DIPLOMATIC CENTRE, St. ANN’S, PORT OF SPAIN
FEBRUARY 24TH, 2015
SALUTATIONS
• His Excellency Nicolás Maduro Moros, President of the
Bolivarian Republic of Venezuela and his wife, First Lady Cilia
Flores
INTRODUCTION
Good afternoon everyone…
I am pleased to address you today, following what has been a
very productive working visit by the President of Venezuela.
Your Excellency, I wish to thank you once again for accepting my
invitation to visit Trinidad and Tobago.
Today, we continued to strengthen the strong bond of friendship
and cooperation between our two countries.
Now, more than ever, we must seek to foster closer ties, enhance
cooperation and deepen integration with our partners in the
region.
Today we discussed several areas of mutual interest such as:
• A Consultative Mechanism for ongoing dialogue
• Energy
• Air Services and Tourism
• Security Cooperation
• Debt owed to Caribbean Airlines Ltd
• Consular Access – we raised the matter of the status of our
nationals presently detained in Venezuela
Trinidad and Tobago’s interest in furthering bilateral cooperation
with Venezuela in energy matters is at its strongest today and, on
the occasion of this important visit, we welcome the finalization
for signature of:
•The Unitisation Agreement for the Exploitation and
Development of Hydrocarbon Reservoirs of the “MANAKIN
– COCUINA FIELD” that extends across the delimitation
line between the Republic of Trinidad and Tobago and the
Bolivarian Republic of Venezuela;
• As well as the Framework Agreement on Energy Sector
Cooperation between the Government of the Republic of
Trinidad and Tobago and the Government of the Bolivarian
Republic of Venezuela.
As Trinidad and Tobago’s Energy Minister pointed out today, this
is the first time in the western hemisphere that there is
the commercialization of cross border reserves and this
has only happened three times in the world before.
So this is a significant achievement for our sister nations.
Your Excellency, I must commend you for your vision, and thank
you for your commitment to moving this process forward.
My Government is focused on responsibly managing Trinidad and
Tobago’s resources, and ensuring the equitable distribution of our
nation’s wealth.
Since taking up office in 2010, my Government has actively
sought to ensure that not only is the energy sector further
developed, but also that efficiency and competitiveness are
improved.
Also, we are focused on ensuring the sustainability of Trinidad
and Tobago’s energy sector for future generations.
I must commend the Ambassadors, Ministers of Energy
and Foreign Affairs of Trinidad and Tobago, along with their
counterparts in Venezuela, for their hard work, patience and
determination in discussing these important agreements and
projects.
I am indeed pleased, as I’m sure you are, Your Excellency, with
the progress that we have made in advancing these initiatives, in
such a short time-frame.
I was also heartened that we were able to resolve the issue of
the outstanding debt owed to Caribbean Airlines and I hope we
can continue to work together to resolve travel issues in a timely
fashion.
Commodity Sharing
Another significant proposal discussed at our meeting today were
viable avenues for commodity trading between our two countries,
as we seek to stimulate our local economies while engaging in
trade with each other.
As you may be aware, Trinidad and Tobago exports a number
of goods to Venezuela, including gasoline, machine parts, air-
conditioners, parts for refrigerators, toilet/facial tissue, and
cement.
Our main imports include crude petroleum, gas oil, jet fuel,
electric conductors, iron ore and bars and rods from Venezuela.
Following our discussions today, we are of the view that a
mechanism for commodity sharing holds significant promise for
both our countries.
The concept of commodity sharing is simple – the Government
of Trinidad and Tobago will purchase goods identified by the
Government of Venezuela from T&T’s manufacturers, such as
tissue paper, gasoline, and parts for machinery, which are needed
These would then be traded for commodities that are needed for
our industries – in particular bitumen and crude oil – which can
be supplied by Venezuela.
This proposal is at an planning stages, and we recognize that a
monitoring mechanism would be key to its success.
In this regard a joint inter-ministerial committee will be set up
to ensure proper accountability and to monitor and evaluate this
proposed system.
We see these measures as having the potential to significantly
benefit both our nations.
For Trinidad and Tobago, this initiative will see the Government
investing in the country’s local manufacturing sector, thereby
further stimulating the industry.
With the expected increase in production, it is envisaged that
manufacturers in turn will look to expand their businesses,
creating much needed jobs for our young people, and stimulating
economic growth.
It is expected that Venezuela’s economy will also be boosted
as a result of this proposed initiative, through the trade of their
commodities in exchange for finished products that the people of
Venezuela need.
CONCLUSION
Today, our countries will make history. Together we will set out
on a course to improve the lives of all our citizens through the
responsible management of our natural resources.
Trinidad and Tobago is pleased to be your host on this occasion,
and while your visit has been a brief one, I do hope that as an
important partner in the region, we will continue to strengthen
our bond through meetings such as this.
I would like to echo His Excellency Maduro when he said that
history is forcing us to be more than neighbours, but good
neighbours.
I look forward to many more years of close cooperation between
my country, and yours.
I thank you.