A monumental step towards improving connectivity, strengthening bilateral ties and fostering cultural exchange between Trinidad and Tobago and Curaçao, and by extension Aruba, Bonaire, and the Kingdom of the Netherlands, has begun with the commencement of a new direct shipping service. Senator the Hon. Paula Gopee-Scoon, Minister of Trade and Industry, expressed these sentiments while delivering the Keynote Address at the ribbon cutting ceremony to commemorate the first sailing of the Doña Luisa I from T&T to the ABC Islands, held at the Cruise Ship Terminal at the Port of Port of Spain on Friday, September 20.
The Minister said, “The bi-weekly direct route marks a crucial step in linking the region and has significantly reduced the shipping time from a historical two or three-week transit to two days. This reduction in transit time will not only increase the type of goods being transported but also improve Trinidad and Tobago’s shipping solutions to additional territories, including Colombia and the Dominican Republic.”
The majority of the world’s trade is carried by sea, making the shipping industry the central tenet for connecting markets, industries, and consumers worldwide. As such, shipping lines and agencies play a critical role in the global economy enabling the efficient movement of goods.
Shipping company Don Andres N.V. in collaboration with its local partner, Gulf Shipping Ltd., will service the new route. The Minister commended representatives from both companies among others “for … seizing the opportunity and initiating this historical direct service.”
Trade Agreements
The Government of Trinidad and Tobago has been pursuing a multi-pronged approach to expand T&T’s non-energy exports, including the negotiation of market-access trade agreements.
The Minister shared, “Trinidad and Tobago recently concluded the First Round of negotiations for a Partial Scope Trade Agreement between Trinidad and Tobago and Curaçao in July 2024. The Second Round of Negotiations is expected to take place next month, with the aim of finalizing the agreement by early 2025. The Cabinet of Trinidad and Tobago only this week approved T&T’s List of Products to be requested for duty-free entry into Curaçao.”
Curaçao became the sixth Associate Member of the Caribbean Community (CARICOM) on July 30th 2024. The Dutch Caribbean Islands Aruba, Bonaire and Curaçao import approximately US$2.4 Billion from the rest of the world (mainly from North America and Europe) of which only TT$55 million is from Trinidad and Tobago. According to 2023 figures, this consisted mainly of prepared cereals, mattresses, paper products, agricultural chemicals, aerated beverages, wooden furniture and cleaning products.
The Minister said there is significant room for growth and the potential to displace other imported products into Curaçao such as agricultural products, detergents and soaps, jams and jellies, biscuits, condiments, pharmaceuticals, cosmetics, vegetable products, canned foods and construction materials.
In addition, the Minister noted, “The potential for increased trade between our islands goes beyond the trade in goods, extending to services as is demonstrated by the recent acquisition of three pharmaceutical warehousing and distribution companies including Curacao-based Aventa NV, Pharmaceutical Warehousing Incorporated and Aventa Aruba NV by Agostini Limited.
Furthermore, the Minister said, “While we speak of the potential for our locally made goods in Curaçao, we must acknowledge that Curaçao can have their goods and services enter our market. Trinidad and Tobago imports significantly more globally (approximately US9.1 Billion per annum), therein which lies the space for Curaçao’s goods and services to enter Trinidad and Tobago.”
