For reducing its dependence on oil and natural gas sector, Carribbean island nation Trindad & Tobago is seeking Indian investment in the areas like manufacturing, tourism, financial services and agriculture.
The republic of Trindad and Tobago with a population of about 1.3 million, has urged Indian corporate to use its base as an entry point to Caribbean Community (CARICOM) a regional trade block consisting of 16 countries and Latin America.
?We do have a small mark1et, but through having a base Indian companies can access the entire Caribbean and Latin American region,? Pundit Maniedeo Prasad, Trinidad and Tobago high commissioner to India said.
He said that in addition the CARICOM has established a large number of market access agreements with Latin Americans countries like Cuba, Costa Rica, the Dominican Republic, Venezuela and Colombia.
In the financial sector, the state owned Bank of Baroda has already started its operation since October 2007. According to a Trindad and Tobago trade official, the bank would open three more branches in Caribbean republic soon. Indian private steel major Essar steel has announced $1.8 million investment in island nation.