{"id":15010,"date":"2021-10-08T06:39:18","date_gmt":"2021-10-08T10:39:18","guid":{"rendered":"https:\/\/gottbs.com\/?p=15010"},"modified":"2021-10-08T06:39:18","modified_gmt":"2021-10-08T10:39:18","slug":"new-project-to-boost-tts-competitiveness-in-the-global-marketplace","status":"publish","type":"post","link":"https:\/\/gottbs.com\/2021\/10\/08\/new-project-to-boost-tts-competitiveness-in-the-global-marketplace\/","title":{"rendered":"New Project to Boost T&T`s Competitiveness in the Global Marketplace"},"content":{"rendered":"

October 7, 2021, BRIDGETOWN, Barbados <\/strong>\u2013 Trinidad and Tobago\u2019s Ministry of Trade and Industry (MTI), through the Trinidad and Tobago Bureau of Standards (TTBS) has launched a project focused on building a Quality Culture in the country. The initiative is being facilitated with support from the European Union (EU) and the Caribbean Development Bank (CDB) and will see both organisations engaging a wide cross section of industry with the aim of improving the quality of goods and services being produced and exported.<\/p>\n

The Building a Quality Culture in Trinidad and Tobago \u2013 Implementation of the National Quality Policy (NQP) Project<\/strong> will support a series of activities contributing to the overall competitiveness of goods and services produced for export. It\u2019s focused on food and beverage manufacturing, business, professional and Information Communication Technology services, agriculture and agro-processing.\u00a0 The project will provide a wide range of improvements such as increasing public awareness and understanding of the National Quality Policy as well as creating deeper consumer understanding of quality concepts and an appreciation for the importance of quality in their daily lives.<\/p>\n

CDB\u2019s Director of Projects Daniel Best<\/strong> indicated that \u201cthe project envisions an environment where citizens understand and demand goods and services of the highest standard with a business sector producing what these informed consumers demand. The trickle-down effect of this paradigm is a shift in the country\u2019s capacity to produce commodities exceeding international standards\u2026 this resulting increased quality will better position Trinidad and Tobago\u2019s goods and services in the global marketplace.\u201d<\/em><\/p>\n

Trinidad and Tobago\u2019s Minister of Trade and Industry, Senator the Honourable Paula Gopee-Scoon<\/strong> who honed in on the manufacturing sector indicated that \u201cmanufacturers, in particular, will be encouraged to improve the quality of their goods to become more competitive resulting in increased demand, increased revenue and export earnings. Global purchasers require products and services that meet rigorous and advanced standards of quality to ensure that such products and services integrate flawlessly with others in the supply chain\u2026 successful implementation \u2026 will \u2026 allow manufacturers and service suppliers to attach themselves to global value chains as they become versed in global best practices.\u201d<\/em><\/p>\n

Emphasising this advantage, EU Ambassador to Trinidad and Tobago, Ambassador Peter Cavendish, <\/strong>suggested, \u201cIt is expected that with the execution of this EURO143,000 project there will be enhanced awareness amongst the public of the importance of quality management standards and principles.\u201d <\/em>He noted this enhanced national awareness could lead to a reduction in the technical barriers to trade, lower costs to trade internationally, increase the competitiveness of local goods and services in the international market, and contribute to the sustainable economic development of Trinidad and Tobago.<\/p>\n

Dr Ramesh Ramdeen,<\/strong> TTMA\u2019s Chief Executive Officer<\/strong> expressed optimism with the project and its proposed outcomes as this would contribute to the sustainability of the manufacturing sector and an increase in the quality and quantity of raw materials for production. The country\u2019s manufacturing sector is currently comprised of a high concentration of SMEs, account for over 50,000 employees and contribute to 9% of the country\u2019s GDP.<\/p>\n

Mr Desmond John<\/strong>, Director Development Cooperation, CARIFORUM Directorate<\/strong> situated the project in the wider regional trade and economic integration landscape. He noted, \u201cThe objective of the Caribbean regional development agenda is to strengthen Caribbean economies and advance towards the integration of our economies into the world economy. Integral to achieving this objective is strengthening our regional integration and development processes, particularly the CARICOM Single Market and Economy\u201d he stated. <\/em><\/p>\n

The TTBS Executive Director. Mr Derek Luk Pat, <\/strong>stated that the two-year project would augur well for the entrenchment of and prioritising of high quality and standards in all spheres of industry. The Project activities include a sensitisation and awareness campaign for targeted groups and the general population, a quality intelligence and training and capacity building programme for technical staff and stakeholders to support the implementation of Trinidad and Tobago\u2019s National Quality Policy. The NQP was also formulated with funding from the EU with CDBs support. The Policy outlines a framework and road map for the country to improve its trading environment to position businesses to be capable of competing on quality thereby increasing overall competitiveness.<\/p>\n

The Standby Facility is a EUR8.75 million resource managed by CDB, which offers opportunities to 15 Caribbean economies to grow trade, deepen integration and economic involvement; and impact competitiveness, market access, and exports by implementing targeted projects in thematic areas.<\/p>\n

###<\/p>\n

About the Caribbean Development Bank<\/strong><\/p>\n

The Caribbean Development Bank is a regional financial institution established in 1970 for the purpose of contributing to the harmonious economic growth and development of its Borrowing Member Countries (BMCs). In addition to the 19 BMCs, CDB\u2019s membership includes four regional, non-borrowing members (Brazil, Colombia, Mexico and Venezuela) and five non-regional, non-borrowing members (Canada, China, Germany, Italy, and the United Kingdom). CDB\u2019s total assets as at December 31, 2020 stood at US$3.64 billion (bn). These include US$2.12 bn of Ordinary Capital Resources and US$1.52 bn of Special Funds Resources. The Bank is rated Aa1 Stable by Moody\u2019s, AA+ Stable by Standard & Poor\u2019s and AA+ Negative by Fitch Ratings. Read more at caribank.org<\/a><\/span>.<\/p>\n

Contact<\/strong>:
\nCassie Ann James
\nCommunications Officer
\nMobile: (246) 262-3982
\nEmail: jamesca@caribank.org<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

October 7, 2021, BRIDGETOWN, Barbados \u2013 Trinidad and Tobago\u2019s Ministry of Trade and Industry (MTI), through the Trinidad and Tobago Bureau of Standards (TTBS) has launched a project focused on building a Quality Culture in the country. The initiative is being facilitated with support from the European Union (EU) and the Caribbean Development Bank (CDB) and will see both organisations engaging a wide cross section of industry with the aim of improving the quality of goods and services being produced and exported. The Building a Quality Culture in Trinidad and Tobago \u2013 Implementation of the National Quality Policy (NQP) Project will support a series of activities contributing to the overall competitiveness of goods and services produced for export. It\u2019s focused on food and beverage manufacturing, business, professional and Information Communication Technology services, agriculture and agro-processing.\u00a0 The project will provide a wide range of improvements such as increasing public awareness and understanding of the National Quality Policy as well as creating deeper consumer understanding of quality concepts and an appreciation for the importance of quality in their daily lives. CDB\u2019s Director of Projects Daniel Best indicated that \u201cthe project envisions an environment where citizens understand and demand goods and services of the highest standard with a business sector producing what these informed consumers demand. The trickle-down effect of this paradigm is a shift in the country\u2019s capacity to produce commodities exceeding international standards\u2026 this resulting increased quality will better position Trinidad and Tobago\u2019s goods and services in the global marketplace.\u201d Trinidad […]<\/p>\n","protected":false},"author":1,"featured_media":15011,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[75],"tags":[],"_links":{"self":[{"href":"https:\/\/gottbs.com\/wp-json\/wp\/v2\/posts\/15010"}],"collection":[{"href":"https:\/\/gottbs.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gottbs.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gottbs.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gottbs.com\/wp-json\/wp\/v2\/comments?post=15010"}],"version-history":[{"count":1,"href":"https:\/\/gottbs.com\/wp-json\/wp\/v2\/posts\/15010\/revisions"}],"predecessor-version":[{"id":15012,"href":"https:\/\/gottbs.com\/wp-json\/wp\/v2\/posts\/15010\/revisions\/15012"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gottbs.com\/wp-json\/wp\/v2\/media\/15011"}],"wp:attachment":[{"href":"https:\/\/gottbs.com\/wp-json\/wp\/v2\/media?parent=15010"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gottbs.com\/wp-json\/wp\/v2\/categories?post=15010"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gottbs.com\/wp-json\/wp\/v2\/tags?post=15010"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}