Caracas, June 27th 2016 (Venezuelanalysis.com) - Trinidad and Tobago’s Ministry of Trade announced that it has begun the shipment of food and other goods to its South American neighbor.
Minister of Trade and Industry Paula Gopee-Scoon officially released details of the trade agreement at the Execution of Bilateral Commercial Agreements between Trinidad and Tobago’s local manufacturers and Corporación Venezolana de Comercia Exterior (CORPOVEX) in Port of Spain last Tuesday.
Gopee-Scoon announced that 12 products from Trinidad and Tobago will be exported over a three month period to Venezuela. In total, Venezuela is expected to receive 600 tons of food from its Caribbean neighbor. Among food products, Trinidad and Tobago will export: ketchup, mayonnaise, flour, white rice, margarine, chicken, powdered milk and spaghetti, Gopee-Scoon listed.
“The total value for food items alone, once all shipments can be made, is approximately US$ 24 million and 12.6 tonnes in weight. Other items to be exported include bath and laundry soaps and toilet paper worth over US$ 2.5million. Therefore, the total value of this initial arrangement is estimated at US$ 26.9million,” she explained.
Minister Gopee-Scoon also celebrated the cooperation highlighting that “our history has been a long, cherished and valued one and we are pleased for the deepening of these links to the benefit of the people of both our beloved countries.”
Products will be shipped to three major northeastern cities: Cumana, Carupano and Guiria. Just last month, over 400 people were arrested for ransacking over 100 businesses in Cumana. The Venezuelan government will transport the goods across the country and they will be sold at subsidized prices.
“Today we begin the first provision plan under cooperation and commercial exchange that will allow Venezuela to receive goods and raw materials from Trinidad as well as export [our] national productos,” expressed Venezuelan Finance Minister Marco Torres.
Torres was accompanied by Minister of Industry and Commerce Miguel Pérez Abad, Minister of Fishing Ángel Belisario and governor of Sucre Luis Acuña.
VEMCO Limited, Trinidad Parboil Limited/Old Mac Agro Supplies Limited, Arawak and Company Limited, John Dickinson and Co. (W.I) Limited, National Canners Limited, National Flour Mills, Coconut Growers Association Limited and Nutrimix Feeds Limited are among the Trinidadian businesses exporting their goods to Venezuela.
President Nicolás Maduro visited the island nation last month to finalize what have been referred to as “historic” trade deals in energy, security and commerce.