How to Address the USD and Shipping Line Dilemma
The TTMA is aware of the challenges posed by the inability to obtain adequate amounts of U.S. currency to settle international trade payables. This becomes even more difficult when the business community is required to also pay freight costs in USD. However, solutions exists. On June 29th 2021, the Association partnered with the Shipping Association of Trinidad and Tobago, the Export Import Bank of Trinidad and Tobago and freight forwarder, Ramps Logistics Limited and hosted a session which outlined ways in which companies that pay for their shipping line costs whether in U.S. dollars or otherwise.
Presentations were delivered by the following:
Mr.Hayden Alleyne – President – Shipping Association of T&T
Mr. Navin Dookeran – CEO – EXIM Bank
Mr. Shaun Rampersad – CEO – Ramps Logistics Limited
Ms. Janelle Spencer – Moderator – Member of TTMA’s Infrastructure Committee
How to Effectively Tender for Government Contracts
The Trinidad and Tobago Manufacturers’ Association held a webinar entitled ‘How to Effectively Tender for Government Contracts’ to sensitize members on how to successfully tender, given that the Public Procurement Bill is currently out for public comment. The session was well attended by companies belonging to various industries who were engrossed by the presentations delivered and rich question and answer segment that followed. It was the TTMA’s pleasure to partner and work with The Office of Procurement Regulation and the Trinidad and Tobago Contractors’ Association. One of the key takeaways from the discussion is the creation of the Central Depository, which would be a database from which suppliers will be chosen by the various Government procuring entities. Therefore, the business community, more so suppliers, are encouraged to pre-register with the OPR.
Presenters: Mr. Moonilal Lalchan - Chairman and Procurement Regulator, Mr. Derek Outridge – Registered Quantity Surveyor and Registered Valuer,
Opening and Closing Remarks: Mr. Barry Fakoory – TTMA Director.
Moderated by: Mr. Christian George – Team Lead, TTMA.
Overcoming Logistics Challenges During the COVID-19 Pandemic
The Trinidad and Tobago Manufacturers Association had the pleasure of hosting a webinar entitled ‘Overcoming Logistics Challenges During the COVID-19 Pandemic’. The webinar was well attended by persons involved in supply chain and logistics in their respective companies. Presentations at the session were delivered by the following persons:
- Mr. Peter Patience – Business Development Director – Cargo Consolidators Agency Limited
- Mr. Paul Pantin – Director – Ezone Logistics
- Mr. Marklan Moseley – General Manager of Cargo and New Business – Caribbean Airlines
Opening remarks were provided by Mr. Dale Parson – TTMA Director, Corporate Secretary and Chairperson for our Infrastructure Committee, closing remarks were conveyed by Mr. Christian George – Team Lead of the Ease of Doing Business Unit and the webinar was moderated by Ms. Ilanka Manrique – Research Assistant in the Ease of Doing Business Unit. Participants were delighted to learn about the developments in Sea Freight, Air Freight and Courier Shipments and engaged the panellists in a hearty Question and Answer Segment at the end.
Financial Management in a COVID-19 Environment
The Trinidad and Tobago Manufacturers’ Association successfully hosted a webinar on June 18th 2020 entitled ‘Financial Management in a COVID-19 Environment’. The webinar was well attended by representatives from various small and medium sized businesses within and outside of the membership. Presentations at the session were delivered by Mr. Navin Dookeran (CEO, The Export Import Bank of Trinidad and Tobago), Ms. Sana Ragbir (General Manager – First Citizens Investment Services Limited and TTMA Director) and Ms. Anna Mouttet (Associate Partner, Ernst and Young Services Limited). Opening remarks were delivered by Ms. Tricia Coosal (TTMA Vice President and Advocacy Committee Chairperson) and closing remarks were conveyed by Dr. Mahindra Ramesh Ramdeen (CEO – TTMA).
Participants were enlightened on the following topics:
- Cash Flow Management – cash flow planning, value chain, dual currency management
- VAT Bonds – the application process, internal workings of the VAT bond, implications and ways to make the VAT bond work for you
- The Government proposed SME Loan Facility – qualifying criteria and application process
- Tax Environment Update for the Manufacturing Industry – tax incentives, allowances, duty concessions, quarterly installments and e-tax
Investment Opportunities for SMEs – A Focus on the Domestic Stock Market
On March 10th 2021, the TTMA hosted a webinar titled ‘Investment Opportunities for SMEs – A Focus on the Domestic Stock Market’. The session attracted Finance and Accounting personnel representing small and medium sized enterprises as well as individuals from the financial services sector. These participants were enlightened about the following topics from industry experts, Ms. Eva Mitchell – CEO – T&T Stock Exchange Limited, Mr. Sarodh Ramkhelawan – CIO – Bourse Securities Limited and Ms. Rowan Brathwaite-Persad – Caribbean Legal Executive – The West Indian Tobacco Company Limited:
- The process of getting listed on the T&T Stock Exchange SME Market
- Advantages and risks associated with getting listed
- Guidance on investing in stocks
- A practical example of operating on the stock exchange.