The Trinidad and Tobago Manufacturers’ Association (TTMA) launched the TTMA/IADB Value Chain Development Project on Monday 17th October, 2011 at the Hyatt Regency Trinidad in Port of Spain.

The Value Chain Project focuses on increasing the competitiveness of small and medium-sized enterprises (SMEs) specifically in the plastic, packaging and printing (PPP) and the food and beverage (F&B) sectors. It is anticipated that upon completion of this three year project the national economy would benefit from a growth in clusters with boosts in productivity, increased competitiveness, strengthened trading relationships, and stimulation in new businesses in the identified sectors.

The TTMA-IADB Value Chain Development project seeks to develop Public/Private Partnerships similar to that which have been referred to in the 2011-2012 National Budget Speech as a core tool for the diversification of the economy. The TTMA recognizes that this value chain project aims to achieve similar mandates as specified in the budget such as

- the diversification of the economy from the energy sector;
- the greening of industry through recycling initiatives;
- the development of initiatives and strategies to support agriculture in conjunction with industry development a means of improving regional food security
- as well as a deepening of linkages between academia and industry.

This three year project aims to address all of these issues specifically through the development of strengthened value chains and clusters.

The launch offered perspectives from Mr. Robert Reid, Regional Specialist in Agribusiness, Inter-American institute for Cooperation on Agriculture (IICA); Mr. Richard Ramsawak, Team Leader Cluster Development Initiatives, Lok Jack Graduate School of Business and Ms Vashtie Dookiesingh, Senior Specialist, Multilateral Investment Fund, Inter American Development Bank as to the role of Value Chains and Clusters for proven increases to productivity and export capacity across the Caribbean and Latin America. Mr. Liaquat Ali Shah, CEO of Caribbean Industrial Research Institute (CARIRI), Project Consultants, highlighted the need for a paradigm shift in mindsets in order for this initiative to be equally as successful. He further explained that Value Chain and Cluster Development can be action vehicles for promoting innovation, competitiveness and sustainable development in the stated industries.

The TTMA/IADB Value Chain Development Project is chaired by Mr. Richard Lewis, Director at the TTMA. The project comprises four main components which will span the three years of the project. Component One will raise awareness of value chain and cluster development and stakeholder engagement which includes two focus group workshops with potential stakeholders to be held in November 2011 to examine relevant case studies and to validate and refine methodologies for developing cluster strategies. It will also entail five business seminars on cluster opportunities in order to gain participation of SMEs in cluster development to be hosted in January and February 2012.

For further information on the TTMA/IADB Value Chain Development Project please contact the TTMA Secretariat via email - .(JavaScript must be enabled to view this email address).