European Union

PORT-OF-SPAIN, 20th March 2012 (MTI):  The Ministry of Trade and Industry (MTI), along with the Ministry of Labour, Small and Micro Enterprise Development (MLSMED) and the Ministry of Planning and the Economy (MPE) partner with the European Union (EU) to launch the EU support for the Government’s “Enabling Competitive Business” Strategy, on Monday 26th March, 1:00pm, at the Hilton Trinidad & Conference Centre.

MTI and MLSMED have collaborated with the private sector, as well as other relevant government agencies and representatives from the academic world, to develop a strategy for Enabling Competitive Business. The Strategy covers the period 2011 to 2014 and offers a framework for addressing the key challenges that hinder the ability of Trinidad and Tobago’s businesses and by extension the economy to compete globally. The strategy therefore aims at engendering an environment conducive to the creation and growth of competitive businesses, as part of the effort to diversify Trinidad and Tobago’s economy.

The implementation of the Enabling Competitive Business Strategy is supported by the European Union with a grant of €16.34 million (approximately TT$145 million). The European Union’s funding is released against achieving established targets. These targets were proposed by the Government drawing from its own strategic planning process, and approved by the European Union. The Enabling Competitive Business strategy is a starting point, a framework within which results can be measured and monitored.

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For further information, contact:

Corporate Communications Assistant
Ministry of Trade & Industry
Level 16, Nicholas Tower  ●  63-65 Independence Square  ●  Port of Spain.
Tel: (868) 623-2931 x. 2126  ●  Fax: (868) 627-0002
Email: Morris-AlleyneZ@gov.tt  ●  Website: www.tradeind.gov.tt