Central Bank, TTMA hold talks on boosting manufacturing, export capacity

The Central Bank of Trinidad and Tobago met with the Trinidad and Tobago Manufacturers Association (TTMA) today, in discussions aimed at strengthening the manufacturing sector and supporting national economic growth, the Central Bank said in a media statement.

The meeting formed part of the Central Bank’s wider strategy to promote inclusive dialogue with key economic stakeholders. Governor Larry Howai said the forum was “a critical source of information” on the sector’s operations, challenges, and potential solutions.

TTMA President Dale Parson highlighted the sector’s role as the country’s second-largest employer and reiterated the Association’s target of doubling manufacturing exports within five years. While commending the EximBank’s foreign exchange facility for its transparency and effectiveness, Parson noted the need for greater forex access to help manufacturers purchase raw materials and meet contractual obligations.

The TTMA also called for expanded support for small and medium-sized enterprises (SMEs) that are currently ineligible for the EximBank facility, as well as a review of the essential trade items list, tariffs on non-essential goods, and the introduction of an intra-regional payments system.

Governor Howai pledged to relay the feedback to relevant ministries, review proposals, and explore possible policy adjustments, stressing that manufacturing is “central to the country’s diversification efforts” and requires collaborative action between the Bank, TTMA, and other stakeholders.

Also present were the Central Bank’s Deputy Governor and management team, alongside TTMA representatives Emil Ramkissoon, Barry Fakoory, and Dr. Mahindra Ramdeen.