Linkage Q1 2012

Q1 / 2012

AmCham T&T Linkage Q1/2012 1

The AmericAn chAmber of commerce of TrinidAd And TobAgo (AmchAm) represenTs 300 privATe secTor compAnies, 25% mulTinATionAl And 75% nATionAl. AmchAm's member compAnies represenT over 90% of The foreign direcT invesTmenT inTo TrinidAd And TobAgo And AmchAm hAs, in iTs shorT 20-yeAr hisTory, become The de fAcTo preferred poinT of privATe secTor represenTATion for locAl, us And mulTinATionAl compAnies.

2 AmCham T&T Linkage Q1/2012

Welcome to AmCham T&T’s 20th Anniversary Edition of "Linkage"!

2012 is indeed a very special year for AmCham T&T as we celebrate the significant milestone of 20 years of service to the business community and more specifically our US and Associate members. AmCham T&T was the brainchild of the then US Ambassador to Trinidad and Tobago, Mrs. Sally Cowal, who in April 1992 brought together a group of twelve business enterprises to shape the entity that is now The American Chamber of Commerce of Trinidad and Tobago, or AmCham T&T, as we refer to ourselves. Since that time the Chamber has grown significantly and has carved out a space in the business landscape of Trinidad and Tobago. We boast of providing the most inclusive membership experiences of any similar type of organisation and our business networking opportunities are of the highest quality.

This issue of "Linkage" chronicles some of our achievements and acknowledges many of the people who have helped to make AmCham T&T what it is today. However, even as we reminisce, we continue to speak about today’s reality, forecast the future and bring to you our readers insights which will assist you in making more informed business decisions. This is all in keeping with our mission to enhance your competitiveness through the transfer of knowledge and provision of opportunities.

In this regard, AmCham T&T will be hosting a number of Trade Missions in 2012. The fist of these will be a high level incoming trade mission from Florida during the period August 5th—8th 2012. The Lt. Governor of Florida, Mrs. Jennifer Carroll, will lead a 15 company delegation to meet with Trinidad and Tobago businesses in an effort to stimulate trade and investment between our countries. More information will be provided on this initiative in the coming months.

Here’s hoping that this issue becomes a keeper on your bookshelves and coffee tables!

Linkagevolume 1/2012—issn 1814-1242 AmCham Trinidad & Tobago

62 Maraval RoadPort of SpainTrinidad & Tobago, W.I.Tel: (868) 622-4466 / 0340 /628-2508 Fax: (868) 628-9428Email: [email protected]: www.amchamtt.com

Welcome from the EditorDesiree Gobin-Seecharan

CONTENTS

The opinions expressed in the editorial contributions in Linkage may not necessarily be those of AmCham T&T. We welcome any comments you might have! Simply email or fax a “Letter to the Editor” to the AmCham T&T Secretariat—[email protected].

picK up your free copy of linKAge AT ishmAel m. KhAn

booKsTore AT piArco AirporT!

feATure ArTicle: A future for smes in Trinidad and Tobago By Dr. the Honourable Winston Dookeran 4

20 yeArs AmchAm T&Thappy 20th Anniversary American chamber of commerce! By Beatrice Welters 12

Warm memories By Debbie Wirtjes-Lewis 14

dear Amcham members and friends By José Raúl Perales 16

forward ever… backward never By Lisa Chamely-Aqui 18

Amcham T&T's new board of directors 19

best wishes to Amcham T&T By AmCham T&T Members 20

letter to the editor 20

About Amcham T&T 22

Amcham T&T’s hse committee 24

Amcham T&T’s security committee 26

Amcham T&T's Trade & investment committee 28

Amcham T&T's communications committee 30

Amcham T&T's legislative committee 31

Amcham T&T’s membership committee 32

in memory of: Kenneth Ayoung chee 34

memory lane @ Amcham 36

celebrating 20 years of the Amcham citi golfing for life Tournament 38

ThOuGhT LEADErShip:The four domains of people´s lives By Stewart Friedman 40

BuSiNESS:continuous professional developmentBy Janice Learmond Criqui 46

growth and investment in Trinidad and TobagoBy Ronald Ramkissoon, Ph.D. 48

TrADE:Trade developments in caricomBy Larry Placide and Aisha Stewart 50

AmChAm T&T:Viewpoint By Hugh Howard, President of AmCham T&T 8punto de Vista Por Hugh Howard, Presidente de AmCham T&T 10florida inbound and outbound missions 52AmCham T&T's New members 54AmCham T&T on the inside 55AmCham T&T’s Board Of Directors 56We Love reading By Alice Besson 56


by dr. The honourAble WinsTon dooKerAn

Minister of Finance

What we are facing today is a rebalancing of the global economy, a rebalancing between deficit countries and surplus countries, a rebalancing between creditor countries and debtor countries, a rebalancing between strategies that depend on export growth and strategies that now depend on domestic demand. But even before we come to terms with the fact that the crisis has shifted from private sector to the public sector, it is now recognised that the crisis indeed affects the national economies and hence we have seen certain initiatives within recent times that are responding to the national dimension of this crisis.

It is appropriate, therefore, for us to reflect for a brief moment on the underlining new directions of the budget strategy over the last two years.

firsT budgeT sTrATegy: Widening The economic spAce

The first was widening our economic space, geographically, sectorially and from the point of view of human capability. That has been one of the pillars in changing the structures upon which this economy, so narrowly based, is to be changed.

second budgeT sTrATegy: fixing The bAlAnce sheeT

The second has to do with fixing the balance sheet and, more specifically, the public financial balance sheet which was at the risk of falling apart and the third was expanding the capital market. We must move away from the time when we look at our budgets as “What I can get” to a budget which can answer the question, “What I can be”.

That fundamental philosophical change is what we are about to set the new structures to achieve. It is in that context, therefore, that the role of entrepreneurship was put at the front burner so that we can articulate in concrete terms the change in philosophical direction from “What I can get” to “What I can be.” I think it is fair to say that budget exercises have been seen by all as “What I can get from the State” in the past. Our attempt therefore to restructure the expectations of the budget to what I can be is a much more difficult role and is one that will not succumb to short-term political aspirations but to longer-term directional change.

The role of entrepreneurship has become important, more important now than at any time, and it is in that context that we can look at the outcome of some of the measures that have put into place in order to change the structures upon which the economy works.

There is no doubt that our financial balance sheet has now been largely restored to a level of stability. There is no doubt that we have begun to think, although we have not yet seen the investment that is required for expanding the space of these economies across the region, within the country, and in the creation of new sectors. There is no doubt that in the process we have begun to see steps to strengthen the capital market.

Expectations for change have been the political framework within which this Government began this journey for economic transformation, but there is no doubt that such expectations will indeed result in some anticipated pain. The response, therefore, at times, given by commentators of focusing on the pain without focusing on the need for such pain is, in fact, one of the political issues that must be faced as we grapple with the journey of realising the new expectation not only for us but for times ahead of us.

The role of The smePart of that transformation clearly lies with the

small and the medium enterprises for that is one of the major pillars for growth creation in our country. There is no doubt, that the small and medium-sized sector is significant worldwide. Even here in Trinidad and Tobago I am advised that there are about 18,000 SMEs operating in Trinidad and Tobago employing approximately 200,000 persons or close to 35 per cent of the workforce and contributing near to 20 per cent of the gross domestic product. Even throughout new structures, the SME is an important pillar for economic survival and growth in Trinidad and Tobago.

A Future For SMes in trinidAd And tobAgo

one yeAr Ago, The World WAs AT A someWhAT differenT plAce. We Were AT The heighT of much uncerTAinTy, boTh globAlly And locAlly, buT during The course of This yeAr, As We Assemble once more, We Are beginning To see The full depTh of ThAT uncerTAinTy Which We encounTered for some yeArs.

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supporT for smes:1) lending in The bAnKing secTor

What we must now do is to build some new structures that will further support the efforts of the SME as perhaps the single sector that will generate employment in the short term and to do so we have engaged in a policy perspective on five major changes. The first has to do with the banking sector itself and we have argued that the focus of lending in the banking sector should shift, not to rely as heavily as it has done on debt financing of the Government for its profits but on loan financing to the private sector for its sustainability, and to do that we have had discussions with the private sector, with the banking sector and with the Tobago Chamber on the issue of derisking funding arrangements for the revival of the Tobago economy.

supporT for smes:2) recApiTAlisATion of The sTATe enTerprises secTor

The second area is to recapitalise the State Enterprises sector, much of which has become inefficient, much of which has not added value to the country’s economy but remain a call on the public Treasury and to recapitalise that, I did announce in 2011, and further reinforced in the 2012 budget, our desire to move towards a public offerings programme. Public Offerings are not about privatisation. Public Offerings are about the distribution of the wealth of the country. It is about seeking efficiency measures. It is also about building the capital market and sooner rather than later we will hear more on the actual programme that is being developed.

supporT for smes:3) reigniTe cApiTAl mArKeT groWTh

The third area in building new structures is to reignite the capital market and its growth

A fuTure for smes in TrinidAd And TobAgo (conTinued from pAge 4)

for SMEs and you will recollect in the budget we introduced an additional window that will bring SMEs into direct opportunities for raising capital in the public by having what some refer to as a junior market and I hope that the stock exchange will accelerate its efforts to sell the idea as well as to make it happen, and that is part of the programme of recapitalising or reigniting the expansion of the capital market.

supporT for smes:4) refocusing on fiscAl discipline

The fourth area, is the question of refocusing on fiscal discipline. Fiscal discipline at the national level is but a mirror of fiscal discipline at the enterprise level and if we are to try and fix the fiscal discipline at the national level, it can only be sustained by fixing the fiscal discipline at the enterprise level and it is in that context I believe that the rating agency in which we are engaged in trying to build a new momentum and a new awareness is an important factor, and I have no doubt that that time has come where our enterprises must meet the standards of fiscal discipline and such must, in fact, be measured and assessed and used as the basis upon which growth will take place.

supporT for smes:5) creATe A neW dimension of finAncing

The fifth area in changing the structures ahead of us has to do with the creation of a new platform. It is a new dimension to financing. In the past we have been accustomed with public sector financing through its Public Sector Investment Programme, either directly from central government or with central government and state enterprises.

In the past we have depended heavily on private sector financing of investment proposals for themselves and for our country, but we

recognise that the time has come to find a new partnership between private sector and public sector financing and in that we will attempt to find ways and models by which we can share the risk so that the private sector can get the returns and the public sector can reap the dividends on behalf of the people. It is, in Trinidad and Tobago, a somewhat new direction and, as I speak here today, we have professionals who are engaged in working out the modalities of private/public sector financing.

summAry These, therefore, are some of the fundamental

steps that have been taken in order to provide the new structures upon which SME growth can depend; and in so doing we hope that we can begin to address in a systematic way this new issue of financing economic development. In so doing, we must of course build a new confidence that the structures that we are building are structures that are sustainable in the future and structures that are, in fact, going to meet the demands of today’s population. It is therefore important, in designing our investment plans, to ensure that we maintain, if not increase, our employment levels. It is an important national environment but it can only be achieved at the level of the enterprise. Careful thought must now be given to all enterprises in the new structure, to maintaining and increasing employment levels.

In so doing, it is also important to have very deliberate strategies for a more competitive environment, especially in today’s world, and to find ways and means to increase one’s productivity.

We musT build A neW confidence ThAT The sTrucTures ThAT We Are building Are sTrucTures ThAT Are susTAinAble in The fuTure And sTrucTures ThAT Are, in fAcT, going To meeT The demAnds of TodAy’s populATion. iT is Therefore imporTAnT, in designing our invesTmenT plAns, To ensure ThAT We mAinTAin, if noT increAse, our employmenT levels.

A fuTure for smes in TrinidAd And TobAgo (conTinued from pAge 4)


ViEWpoint BY HUGH HOWARD

PRESIDENT OF AMCHAM T&T

Agriculture—A pillar for sustainable development

How will the world satisfy the increasing demand for food by a fast-growing population, which is expected to reach circa 9 billion by the year 2050? The conjoint effect of climate change, emphasis on use of bio-fuels due to the focus on environmentally responsible development etc. has led to food scarcity, food price inflation and nutrition issues.

The agricultural sector plays a critical role in food security, poverty reduction and economic growth. In developing countries, it is estimated

that 2.5 billion households derive their livelihood from agricultural production. Trinidad and Tobago is somewhat of an exception to this, in that with the discovery of oil and gas here caused a shift towards trade in goods, manufacturing, professional services, technical services and other activity, all fuelled by revenues from the energy sector. Indeed we have become so dependant on imported food that should there be an interruption in supply for an extended period, starvation could become a reality. We note with concern that our imported food bill in 2009 was TT$4 billion: such level of expenditure must negatively impact our foreign reserves and place fiscal constraints on the delivery of essential services like health, education and infrastructure.

To meet these and related developmental challenges, AmCham T&T strongly advocates that close analytical and urgent consideration be given to the development of agriculture (and agri-business) as a pillar for sustainable development.

Trinidad and Tobago’s natural attributes for development of a vibrant agricultural sector were recognised decades ago when the West Indian Agricultural College was founded in 1921, renamed the Imperial College of Tropical Agriculture (ICTA) in 1923. This institution had a long and distinguished history of providing instruction and conducting research in the production of tropical commodities like sugar, cotton, cocoa, coffee, rubber and citrus, all of which played an important role in the economy of Trinidad and Tobago. ICTA had been recognised as the "Mecca" for research and development of tropical agriculture, to which scholars from all over the Empire came to obtain deeper knowledge and expertise.

We are encouraged by the fact that there seems to be a growing realisation within Government that agriculture is one of the avenues through which we can reduce our dependence on the energy sector and our heavy reliance on food imports. Also that its linkages to other economic drivers like tourism, manufacturing and downstream energy activities can have positive impact on employment generation, foreign exchange earnings, reduction in greenhouse gas emissions, etc. Further evidence of such recognition is exemplified by the continuation of the role of NAMDEVCO of providing a guaranteed market for farmers’ primary produce and Government’s collaboration with Trinidad and Tobago Agri-Business Association (TTABA), an organisation involved in research, development and marketing of specialist agricultural products. Such action should serve to reinforce confidence and create a feeling of stability in the minds of our farmers. We, however, urge Government to take prompt action to decisively deal with other impediments listed below which constitute disincentives to realising the sector’s full potential.

In 2010, a sub-committee of AmCham T&T Trade and Investment Committee developed a report entitled “Strategy and Policy Prescriptions for Moving Agriculture Forward in Trinidad and Tobago: 2010 and Beyond”, which was presented to the Honourable Minister of Food Production, Land and Marine Affairs, Mr. Vasant Bharat, during the first quarter of 2011. This report outlined the key constraints faced by the agriculture sector and made several long and short-term recommendations for propelling the sector toward greater efficiency, output, quality, security, competitiveness and profitability. Some of our key recommendations included:• The need forGovernment to identify and implement the necessary

policies, programmes, projects and incentives which would support private sector investment in agriculture and thereby boost food

security and the other key developmental objectives.• Thedevelopmentandimplementationofinfrastructuredevelopment

programmes supportive of the sector such as roads, drainage, irrigation, flood control, water conservation and water management.

• Government support for extensive research and development intonew and innovative techniques for growing produce, livestock and fish stock as well as value added agro-processing using indigenous raw material.

• Updating of the relevant legislation and policies which currentlyconstrain the agriculture sector dealing with issues such as land tenure, leasing arrangements and praedial larceny.

• Updating and developing the marketing infrastructure available tofarmers and assisting farmers in securing markets for their output as well as providing market intelligence to guide farmers in their choice of product.

• Governmentshouldprovidefarmerswithinformationandincentivesfor them to adopt proven sustainable agricultural practices that serve to safeguard our natural resources, ecosystems and biodiversity but would increase agricultural productivity.We have observed the efforts of the Government to focus on some

of these issues, however, given the decades of neglect it is clear that the task is herculean and will require greater focus, resources, incentives and innovation to achieve success. In this regard, AmCham T&T was pleased to draw Minister Bharat's attention to a model that has been successfully implemented in Mexico, the Small Farmer Sunflower Supply Chain Project. This partial credit guarantee project was designed to support an innovative supply chain model in Mexico, through which the leading snack food producer, Sabritas, a division of Pepsico Mexico, purchased sunflower oil from a network of domestic small producers. The project eliminated pricing volatility and created jobs for the farmers who joined the sunflower supply network while at the same time helped Sabritas to reduce its use of more expensive and unhealthy imported palm oil. The financial institution Agrofinanzas played an important role in facilitating this new supply chain by providing needed working capital loans to the farmers for the purchase of seeds and expansion of their production of sunflower crops. The IDB provided support through a partial credit guarantee of about US $5 million.

Trinidad and Tobago can learn from and indeed adopt this model to supply large markets both locally and abroad. Care, however, must be taken to ensure that the relevant systems, policies and safeguards are in place to ensure that unscrupulous individuals or companies do not take advantage of the vulnerable.

There is also the need to innovate and capitalise on our indigenous raw materials. A case in point is “Trinidad cocoa”, known and sought after internationally for its uniquely high quality and exquisite taste; it is sold to the chocolate houses of Europe and others who turn our raw product into expensive and quality cocoa paste and chocolates, which we in turn use our valuable foreign reserves to import. These technologies are not beyond us. We should be producing this cocoa paste for export; we should be producing our brand of high-end chocolates or encourage these producers to locate in Trinidad and Tobago. What prevents us now?

AmCham T&T is cognizant of the fact that lack of information, policy support, access to markets and the simple yet complex stigma attached to working in agriculture are very real challenges that must be overcome on the road to transforming the agricultural sector and achieving greater food security and increasing agriculture’s contribution to the nation’s gross domestic product. We will continue to bring to the relevant stakeholders innovative ideas and opportunities where we find them as well as do our part to educate the business community and our nation’s youth on the value, contributions and indeed exiting opportunities that are offered by agriculture and agro-processing. Additionally, we can assist our members to connect with and source new markets for their agricultural inputs and outputs through our extensive AmCham linkages throughout the Americas (North, South and Central) and the wider Caribbean. There are 115 accredited AmChams located in over 102 countries of the wold and through them AmCham T&T can assist you with valuable business connections.

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POR HUGH HOWARD

PRESIDENTE DE AMCHAM T&T

Agricultura—un pilar para el desarrollo sostenible

Un reto crítico que enfrenta el mundo es cómo satisfacer la demanda creciente por alimentos para una población mundial creciente que se espera alcance cerca de nueve billones para el año 2050. El efecto conjunto del cambio climático, énfasis

en el uso de bio-combustible debido al enfoque sobre el desarrollo responsable ambiental, etc., ha llevado a una escasez de alimentos, una inflación en el precio de alimentos y asuntos sobre nutrición.

El sector agrícola juega un papel crítico en la seguridad alimentaria, la reducción de la pobreza y el crecimiento de la economía, particularmente en los países en desarrollo donde se estima que 2.5 billones de familias obtienen su sustento de la producción agrícola. Trinidad y Tobago es de alguna manera una excepción a esta tendencia mundial en que con el descubrimiento de petróleo y gas ha habido un cambio hacia la comercialización de bienes, manufactura, servicios profesionales, servicios técnicos, etc. abastecido por ingresos del sector energético. Realmente hemos llegado a ser tan dependientes de la importación de alimentos que si hubiera una interrupción en el abastecimiento por un período prolongado, por cualquier razón, la inanición llegaría a ser una realidad. Notamos con preocupación que nuestra factura por alimentos importados en 2009 fue de TT$4 billones, como tal, el nivel de gastos debe tener un impacto negativo en nuestras reservas extrajeras y pone limitaciones fiscales en la entrega de servicios esenciales como la salud, la educación, la infraestructura, etc. Para hacer frente a estos y relacionados retos de desarrollo AmCham se avoca fuertemente a que se dé una detallada y urgente consideración al desarrollo de la agricultura (y agro-negocios) como un pilar para el desarrollo sostenido.

Los atributos naturales de Trinidad y Tobago para el desarrollo de un vibrante sector agrícola han sido reconocidos desde hace varias décadas cuando se estableció el Imperial College of Tropical Agriculture (Colegio Imperial para la Agricultura Tropical) (ICTA por sus siglas en inglés). Esa institución ha tenido una larga y distinguida historia de producir artículos tropicales como azúcar, algodón, cacao, café, caucho, cítricos, etc. todo lo cual ha jugado un papel importante en el bienestar económico de los entonces dueños de los factores de producción. El ICTA ha sido reconocido como la Meca para la investigación y desarrollo de la agricultura tropical para lo cual los expertos de los países desarrollados en la Commonwealth vinieron para obtener una ventaja competitiva.

Nos anima el hecho que parece haber una concientización creciente dentro del Gobierno de que la agricultura es una de las avenidas a través de las cuales podemos reducir nuestra dependencia sobre el sector energético y nuestra considerable dependencia sobre la importación de alimentos. También que sus vínculos con otros conductores económicos como el turismo, la manufactura y las actividades energéticas secundarias pueden tener un impacto positivo en la generación de empleo, ingresos de divisas, reducción

de las emisiones de gas del efecto de invernadero, etc. Una evidencia adicional de tal reconocimiento se ejemplifica por la continuación del papel de NAMDEVCO de proveer y garantizar mercado para los productos primarios de los agricultores y la colaboración gubernamental con la Asociación de Agro Negocios de Trinidad y Tobago (TTABA por sus siglas en inglés), una organización involucrada en la investigación, desarrollo y mercadeo de productos agrícolas especializados. Tal acción debería servir para reeforzar la confianza y crear unos sentimientos de estabilidad en las mentes de los agricultores. Nosotros, sin embargo, urgimos al Gobierno para que tome pronta acción a fin de tratar decididamente con otros impedimentos listados más adelante que constituyen obstáculos para realizar el potencial total del sector.

En2010, un sub comité de AmCham Comité de Inversión y Comercio de TyT (AmCham T&T Trade and Investment Committee) produjo un informe titulado “Strategy and Policy Prescriptions for Moving Agriculture Forward in Trinidad and Tobago: 2010 and Beyond” (Prescripciones de Estrategia y Política para Mover la Agricultura hacia Adelante en Trinidad y Tobago: 2010 y Más allá) que fue presentado al Honorable Ministro de Producción de Alimentos, Tierra y Asuntos Marinos Sr. Vasant Bharat durante el primer trimestre de 2011. Este informe destacó las limitaciones claves enfrentadas por el sector agrícola e hizo varias recomendaciones a corto y largo plazo para impulsar el sector hacia una mayor eficiencia, productividad, calidad, seguridad, competitividad y ganancia. Algunas de nuestras recomendaciones claves incluyen:• La necesidad del Gobierno de identificar e

implementar las políticas, programas, proyectos e incentivos necesarios que apoyarían la inversión del sector privado en la agricultura y así estimularían la seguridad alimentaria y los otros objetivos de desarrollo claves.

• El desarrollo e implementación de programas dedesarrollo de infraestructura apoyador del sector tales como caminos, drenaje, irrigación, control de inundaciones, conservación de agua y manejo del agua.

• El apoyo del gobierno para llevar a cabo ampliainvestigación y desarrollo en nuevas e innovadoras técnicas para el cultivo de productos agrícolas, ganado y reserva de pescado así como el valor agregado del agro-procesamiento usando materias primas autóctonas.

• Actualizar la legislación y las políticas pertinentesque actualmente limitan al sector agrícola y que tratan con asuntos como la tenencia de la tierra, acuerdos de arrendamiento, latrocinio predial, etc.

• Actualizar y desarrollar la infraestructura demercadeo disponible para los agricultores y apoyar a los agricultores a fin de asegurar mercados para sus productos así como proveerlos de inteligencia de mercadeo para guiarlos en su elección de productos.

• Elgobiernodeberíaproveera losagricultores coninformación e incentivos para adoptar prácticas agrícolas sostenibles probadas que sirvan no sólo de salvaguardas de nuestros recursos naturales, ecosistemas y biodiversidad sino que acrecienten la productividad agrícola. Hemos observado los esfuerzos del Gobierno

en enfocarse sobre algunos de estos asuntos, sin embargo, dada las décadas de negligencia es claro

que esta tarea es enorme y requerirá un mayor enfoque, recursos, incentivos e innovaciones para lograr el éxito. En este aspecto, AmCham T&T tuvo el gusto de atraer la atención del Ministro de Producción de Alimentos, Tierra y Asuntos Marinos a un modelo que ha sido exitosamente implementado en México.

El Proyecto Small Farmer Sunflower Supply Chain (Cadena de Abastecimiento Girasol del Pequeño Agricultor): Este proyecto de garantía de crédito parcial fue diseñado para apoyar un modelo de cadena de abastecimiento innovador en México, a través del cual, el líder productor de alimentos de bocadillos, Sabritas, una división de Pepsico Mexico, compró aceite de girasol de una red de pequeños productores domésticos. El proyecto eliminó la volatilidad de precios y creo empleo a las agricultores que se unieron con la red de abastecimiento de Girasol mientras al mismo tiempo ayudaron a Sabritas a reducir el uso de aceite de palma importado, más costoso e insalubre. La institución financiera Agrofinanzas jugó un papel importante en facilitar esta nueva cadena de abastecimiento al proveer los préstamos de capital de trabajo necesarios a los agricultores para la compra de semillas y la expansión de su producción de cultivos de girasol. Mientras el BID proveyó apoyo a través de garantizar un crédito parcial de unos $5 millones de dólares americanos.

Trinidad y Tobago puede aprender de esto y así adoptar este modelo para abastecer los grandes mercados tanto locales como extranjeros. Sin embargo, se debe de tener cuidado de asegurar que los sistemas relevantes, políticas y salvaguardias estén en su sitio a fin de asegurar que individuos o compañías sin escrúpulos no se aprovechen de los vulnerables.

Hay también la necesidad de innovación y capitalización sobre nuestras materias primas autóctonas. Un buen ejemplo es “Trinidad Cocoa” conocida y buscada internacionalmente por su única alta calidad y exquisito sabor; se vende a las compañías de chocolate de Europa y otros, que cambian nuestra materia prima en una costosa pasta de cacao y chocolates de calidad y que luego nosotros usamos nuestras valiosas reservas extranjeras para importar. Estas tecnologías no están más allá de nuestro alcance. Debemos de producir esta pasta de cacao para venderla en el extranjero; deberíamos producir nuestra propia marca prestigiosa de chocolate o animar a estos productores a establecerse en Trinidad y Tobago; ¿Qué nos impide para lograrlo ahora?

AmCham T&T reconoce el hecho de que la falta de información, apoyo político, acceso a mercados y el sencillo pero complejo estigma atribuido a trabajar en agricultura son un reto muy real que debemos de sobrepasar en el camino a transformar el sector agrícola y alcanzar una mayor seguridad alimentaria e incrementar la contribución de la agricultura al producto interior bruto de las naciones. Continuaremos trayendo a los stakeholders relevantes ideas y oportunidades innovadoras de donde las encontremos así como contribuir por nuestra parte a educar a la comunidad de negocios y a nuestra juventud de la nación sobre el valor, contribuciones y verdaderamente oportunidades existentes que ofrece la agricultura y el agro-procesamiento. Además, podemos asistir a nuestros miembros a ponerse en contacto y obtener nuevos mercados para sus insumos y producción agrícola a través de nuestros extensos vínculos AmCham a través de las Américas (Norte, Sur, y Central) y del Caribe más amplio.

puNTOdeVista


It was 20 years ago when the first female U.S. Ambassador to Trinidad and Tobago, Sally Cowall, planted the seed for an American Chamber of Commerce here. The idea was discussed during a businesspersons' breakfast at the Ambassador’s residence in December 1991. When the AmCham Trinidad & tobago was launched a few months later, membership totaled 12 companies. Membership now stands at almost 300.

I am certain Ambassador Cowall would be very proud of what AmCham T&T has become. The Trinidad and Tobago AmCham is now the barometer for U.S. businesses looking to invest or do business in this country. Likewise, AmCham T&T plays a vital role in helping its members stay aware of economic and business trends, and of best practices. In order to advance the business climate of Trinidad and Tobago, AmCham T&T strives to inform both the government and the public of the nation’s state of affairs, and of ways to improve it. From the spark of an idea at a breakfast meeting 20 years ago, AmCham T&T now leads trade delegations to South America and hosts premiere events such as the

annual Health, Safety, Security and Environment Conference and Exposition.

The U.S. Embassy and AmCham T&T over the past 20 years have created a dynamic partnership, strengthened by our common goals in encouraging not only trade and business, but investment in the future of both of our countries through youth outreach. Through the AmCham T&T mentorship and business incubation programmes, members have committed to guiding the young and talented minds of Trinidad and Tobago, and “paying forward” by supporting upstart businesses.

As I have done previously, I would like to congratulate the American Chamber for continuing the Youth Productivity Forum, a great programme to challenge the very young to dream up ways to shape their country in positive and productive ways. Even if not yet polished in presentation and performance, the students who participate in the Forum show tremendous commitment to their nation, and tremendous potential as good citizens and future leaders. This year’s Forum focuses on environmentally responsible solutions for a more productive

HAppy 20tH AnniverSAry AMericAn cHAMber oF coMMerce!

As The uniTed sTATes AmbAssAdor To TrinidAd And TobAgo, i hAve The greAT honour And enormous privilege To personAlly congrATulATe The AmericAn chAmber of commerce of TrinidAd And TobAgo on 20 yeArs of success! AnniversAries for me Are A Time for celebrATion And recogniTion, buT They Are Also A Time for reflecTion.

Trinidad and Tobago, and I have no doubt that one of the students participating in the programme will someday create a solution that will make this country proud!

One need only attend an AmCham T&T committee meeting to understand the passion with which the organisation’s members discuss issues affecting business and life in Trinidad and Tobago today. In my experience of leading people, success goes to those organisations whose leaders motivate their people to unleash their competence, creativity and commitment. It’s exactly this kind of energy and drive that will help propel the AmCham T&T forward another 20 years.

As the Embassy looks ahead, we plan to continue our strategic partnership with the AmCham T&T. Through the years, AmCham T&T has remained a steadfast partner in U.S. economic diplomacy and has retained its vital importance as a voice for U.S. business in Trinidad and Tobago.

Following two decades after Ambassador Sally Cowell, I am proud to be part of the first 20 years of the American Chamber of Commerce of Trinidad and Tobago, and I believe that the next 20 years will only be better!

hAppy 20Th AnniversAry, AmchAm T&T!

beATrice WelTersU.S. Ambassador to Trinidad and Tobago

20 yeArs of AmchAm T&T


it was my task, as the second Executive Director, to further entrench AmCham T&T’s position by setting up workflows and operating systems required for the operation of a successful Chamber of Commerce. Lucky for me, i was in the unique position of being able to lean on the board members for advice and learn from their expertise as we navigated our way towards making the Chamber relevant and visible. Both the board and myself also agreed that and it was important that AmCham T&T not lose the momentum that it was gradually building as it strived to become the recognised authority on American/Trinidad and Tobago business.

And, that’s just what we did! Within a short space of time, AmCham T&T grew from 12 founding members to 275 by the time I left in December 2000. We became a vibrant mix of joint ventures, multi-nationals, American investors and local companies. Maybe because it was new, maybe because it represented distant shores and cross-cultural links, but AmCham T&T was never burdened with the reputation of being ‘an old boy’s club’. Monthly meetings were always well attended and company members sent their brightest to our events, all eager to exchange ideas and gain an insight into new and exciting synergies. AmCham T&T became a forum for networking and for exploring innovative ideas and new strategies to continuously improve the business climate between the United States and Trinidad and Tobago. Very quickly AmCham was

also able to attract an “A” list of local and foreign guest speakers. Members were able to regularly come into contact with key government ministers and visiting dignitaries, including Donald Trump who was the key speaker at one of our most successful events.

To keep up with the accelerated growth, we quickly expanded our capabilities and focused on offering premium trade and investment services to our members. Our standing committees consisted of some of the keenest players in industry, who were able to comment on issues of the day and lobby for meaningful changes. Together with the Secretariat, they developed several events aimed at different sectors of the economy, such as the “Executive Info Session”, which focussed on a specific sector or topic and the “Members’ Showcase”, which allowed members to highlight and promote their brand or service.

One event of which I am extremely proud is the annual Health, Safety, Security and Environment Conference and Exhibition. This started out as the AmCham Safety, Health and Environment Conference in 1996 and was the brainchild of the Environmental Committee. Back then it was the first of its kind and provided an excellent forum for ideas exchange and new technologies. We were also able to get young people involved by hosting a youth forum and school poster competition. I am so pleased to see that this event continues to flourish as a key agenda item.

Of course AmCham T&T became also known for its fun events. In addition to the golf tournament, members really appreciated the opportunity to socialise with each other at the Thanksgiving dinner and 4th July picnic, which was a feat in itself as hard-working members and the Secretariat transformed a deserted span of green in Chaguaramas into a beautifully decorated picnic area for over a thousand people complete with running water, electricity, tents, music and bbq … what an accomplishment! I’ll never forget the delicious hamburgers grilled on site by the Tropical Power team!

Finally, I must say that AmCham T&T could only have made these achievements because it was blessed with having the hardest-working staff who never complained about extra hours or duties, Gina, Danielle, Camela, Makeda, Dane, Juliet, Lawrence and Phyllis. These diligent heroes did not all work at the Secretariat at the same time, but each contributed to making AmCham T&T always live up to the expectations of the community and its members. We were a close-knit team who enjoyed making things happen. In the old days, Lawrence, followed by Dane, stuffed envelopes and did the monthly mailings, Danielle and Juliet coordinated the committees and never tired of preparing handouts for meetings and conferences, Gina handled member relations with efficiency and a smile, Camela and later Makeda kept track of our bills and later Phyllis came and held the office together. Thank you all and thanks to the AmCham T&T directors who served during my tenure … I learned so much from you all!

And so, it is with pride and fond memories that I say hAppY BirThDAY AmCham T&T on your 20th anniversary! I think that with your current team and board of directors, the next 20 years are in good hands!

WArM MeMorieS

by debbie WirTjes-leWisExecutive Director AmCham Trinidad & Tobago 1995—2000

by The Time i TooK up my posT As execuTive direcTor, AmchAm WAs sTill A fledgling orgAnisATion, bArely TWo yeArs old! The founding execuTive direcTor, june mAhArAj, hAd done An excellenT job of geTTing The orgAnisATion off To A running sTArT by securing A commiTTed boArd of direcTors, permAnenT offices And A smAll, buT dedicATed sTAff.



The Association of American Chambers of Commerce in Latin America (AACCLA) salutes the American Chamber of Commerce of Trinidad and Tobago, its leadership and its members, on the twentieth anniversary of its foundation.

Since the creation of AmCham T&T commercial and investment relations between the United States and Trinidad and Tobago—indeed, with the entire Caribbean region—have flourished and evolved. In the last three years alone bilateral trade relations with the region have grown 39%, and have situated the Caribbean as the 14th largest trading partner of the United States, ahead of regions and countries of much larger population and size. Such robust growth is in no small part due to the effort of private sector associations like AmCham, and its member companies.

Nowhere is this relationship more robust than with Trinidad and Tobago, an economy whose strong growth and increasing diversification have made it a pillar of business in the region. While retaining its position as a key energy exporter—it is the largest supplier of liquefied natural gas to the United States—it has also moved into key areas in technology and service clusters, while developing competencies in energy research and innovation. It is this kind of entrepreneurialism that offers the best hope for Trinidad and Tobago’s international competitiveness and success.

AmCham has been at the forefront of this very active commerce and investment agenda. In the twenty years since its creation AmCham has brought together some of the most important companies doing business in Trinidad and Tobago, strengthening ties with U.S. markets while providing a voice in Washington and Port of Spain in support of a more intense and effective economic relationship between the United States and Trinidad and Tobago. AmCham has also been a strong advocate of closer business and economic ties between T&T and its neighbors in South America and Central America, through trade missions, conferences, and even hosting the yearly meeting of the entire AACCLA network in 2008.

As we look forward to the next twenty years, we are proud to celebrate the achievements of our very active and forward looking AmCham colleagues in Trinidad and Tobago. We are certain they will be a key partner in the development of a new direction in U.S.—Caribbean economic relations, and a leader in the economic future of Trinidad and Tobago.

Warmest regards,

José raúl peralesExecutive DirectorAACCLA

deAr AMcHAM MeMberS And FriendS



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ForWArd ever…

bAckWArd never

AmCham T&T’s young life reads as a sequence of spirited chapters—from beginnings rooted in a recovery from deep recession; through an infancy facilitating foreign direct investment; to its adolescence supporting the entrepreneurial manufacturing sector in spreading its wings, and championing the growth of the burgeoning services sector.

AmCham Trinidad & Tobago begins the third decade of its life in daunting circumstances—globally, on the tail of the worst recession in recent history; in a hemispheric trading environment that seems to be in turn stalled or polarised; and locally … well… that’s too much to get into for 500 words—but this audience is already well versed in its intricacies.

However, AmCham T&T is favoured with strategic alliances, networks and leadership that can turn every challenge into an opportunity. AACCLA and the US Chamber in Washington allow access to that nation’s decision-makers. The 23 AmChams throughout Latin America and the Caribbean provide a family base of 20,000

companies in gaining market entry. The United States Embassy in Trinidad and Tobago is a strong ally. AmCham T&T’s mix of multi-national and Trinidad and Tobago member companies bring global best practices to bear on local ingenuity and standards.

AmCham T&T’s Board continues its tradition of well-respected leadership, now in the person of its newest President, Mr. Hugh Howard, who joins a distinguished line of Presidents known for their clarity of vision and focus on delivering results in line with the organisation’s mission.

During my time as Executive Director from 2000 to 2006, I was fortunate to have Hugh as a mentor. Of the many pieces of wisdom that he shared, one that stands out was his counsel to consider each problem in the context of “overarching issues”. At the time, those were the Chamber’s mission areas, as follows:

1. Enhancement of competitiveness

2. Generation of new business and market access for services/goods

3. Influence on policies and legislation

4. Transfer of knowledge

5. Contribution to sustainable development

What an insightful decision-making guide: instead of getting caught up in the latest “bacchanal”, I could step out from the mangrove of individual incidents and personalities, and weigh each situation to suit. Even outside the parameters of AmCham T&T, his lesson has remained with me… when in doubt, “take the higher ground” as an approach to life.

Hugh is supported by a well-rounded, strategic Board of Directors, hard-working committees representing a good cross-section of the membership, and a capable and dedicated Secretariat team.

Going forward, once AmCham T&T leverages its youthful energy and passion, and builds on its track record of excellence by example, then it will continue to positively influence its membership, provide guidance to the wider national community and hold its own as a Caribbean leader in U.S., Latin American and Caribbean circles. Looking forward, this could be the best decade yet.

AlThough This mAnTrA hAs been uTilised mAny Times in cAribbeAn poliTics, iT KepT coming To mind in my reflecTion on The occAsion of AmchAm T&T’s 20Th AnniversAry.

by lisA chAmely-AquiExecutive Director AmCham Trinidad & Tobago 2000 –2006



AmCham T&T held its 19th Annual General

Meeting on 21st March 2012 at which Hugh

Howard, Danny Nasser, Philip Hamel-Smith and

Lily Young were announced as AmCham T&T's

new Executive Board Members. Hugh Howard

AmCham T&T's new President, has been with

the Chamber for the last 15 years serving as the

Front row left to right:

Lara Quentrall-Thomas Director AmCham T&T, Managing Director Regency

Recruitment

Karen Darbasie Director AmCham T&T, Country Treasurer at Citibank

(Trinidad and Tobago) Limited

Caroline Toni Sirju-ramnarine Director AmCham T&T, Head Sustainability and Corporate

Communications, Atlantic LNG

Giselle Thompson Director AmCham T&T, Vice President Communications &

External Affairs

Desiree Gobin Seecharan Executive Director, AmCham T&T

Vice President, director and chair of the Trade and

Investment committee. This meeting which was

aptly entitled ‘Trade Opportunities within Latin

America and the Wider Caribbean’ featured two

prominent and poignant speakers- the Chairman

of the American Chambers of Commerce of

Latin America and the Caribbean (AACCLA) Jose

Orive and the Prime Minister of the Republic

of Trinidad and Tobago The Honourable Kamla

Persad-Bissessar. Each speaker spoke about the

opportunities for T&T and urged the private

sector to be proactive and take advantage of

these opportunities.

AMcHAM t&t's neW boArd oF directorS

Second row left to right:

Frederick Eastwood Director AmCham T&T, Asset Manager, Chevron Trinidad

and Tobago Resourcces

hugh howard President, AmCham T&T, Attorney Hugh Howard and

Associates

raoul John Director AmCham T&T, Managing Partner of KPMG Trinidad

and Tobago

Simon Aqui Immediate Past President, AmCham T&T, General Manager,

IBM

Back row left to right:

Wade hamilton Director, AmCham T&T,VP Technical Services, National Gas

Company

David Wolfe Director AmCham T&T, Deputy Chief of Mission, US

Embassy

Eugene Tiah Director AmCham T&T, President, Phoenix Park Gas

Processors Limited

Daniel G. Nasser Vice President AmCham T&T, Operations Manager, EOG

Resources Trinidad Limited

Not in picture are

u.S. Ambassador Beatrice Wilkinson Welters Honourary Chairman, U.S. Ambassador

Lily Young Treasurer AmCham T&T, Partner, Ernst & Young

Nicholas Galt Director AmCham T&T, Chairman/Managing Director/Founder Trinidad Systems Ltd.

phillip hamel-Smith Secretary AmCham T&T, Managing Partner, M. Hamel-Smith & Co. Ltd



oh, sAy cAn you see by 1992's eArly lighT ... ThAT AmchAm T&T WAs born And The fuTure WAs brighT!Best wishes for a bright future from paria publishing

To The mAnAgemenT And sTAff of The AmericAn chAmber ThAnKing you for All The supporT over The lAsT 20 yeArs And looKing forWArd To AnoTher 20 yeArs of prosperiTy.Damien CarterDppS Company Limited

i Wish AmchAm And pArTiculArly The communicATions commiTTee, congrATulATions on your 20Th AnniversAry. iT hAs been A pleAsure serving you over The yeArs. Giselle Laronde-WestAngostura Limited

ciTi is A founding member of AmchAm And is very proud of iT’s sTrong conTribuTion especiAlly hAving served on boArds pAsT And presenT.Dennis EvansCiti

regency recruiTmenT And resources limiTed is proud To be AssociATed WiTh AmchAm TrinidAd And TobAgo And congrATulATes Them on 20 yeArs of excellenT service To The business communiTy.Lara Quentrall-Thomas mBAChief Executive Officerregency recruitment and resources Limited

The sTAff And mAnAgemenT of cher-mere Would liKe To congrATulATe AmchAm T&T on reAching iTs plATinum AnniversAry And conTinued fuTure success!Dr. Aba Bowles-mortleyThe herbarium Limited (Cher-mere)

We TAKe This opporTuniTy To Wish AmchAm All The besT on iTs 20Th AnniversAry. With best regards,Eric Clarkemanaging DirectorAGEmAr TriNiDAD LTD.,

illuminAT congrATulATes AmchAm on iTs TWenTieTh AnniversAry. We ThAnK you for your supporT over The yeArs And Wish you conTinued success.David Belgraveilluminat (Trinidad & Tobago) Limited

conTinue To climb even As you celebrATe 20 yeArs of successfully delivering service To your members. congrATulATions on your AnniversAry!"deborah samarumanager, public Affairsmethanex Trinidad Limited

The hilTon TrinidAd & conference cenTre Would liKe To congrATulATe AmchAm on Their 20Th AnniversAry. ThAnK you for your AssisTAnce in providing supporT services And promoTing TrAde And invesTmenT beTWeen TrinidAd & TobAgo And The AmericAs. We Wish you conTinued success in The fuTure.

i just wanted to reiterate in writing our brief conversation of the other day, wherein i expressed my enjoyment of this issue of the Linkage which focused on ‘New & Social media’.

i felt that the issue was extremely well put together, as if portrays this current ‘hot’ topic from a variety of angles and authors.

i personally have found it to be highly information and provocative and carry around a copy with me at all times to refer to.

Well Done!

regards

Nicole Blanc

OrBiT Solutions Ltd

beSt WiSHeS to AMcHAM t&t

Letter to tHe editor



The origin of AmchAm TrinidAd And TobAgo (AmchAm T&T) goes bAcK To december 1991, When The ideA WAs rAised AT A u.s. businessmAn’s breAKfAsT AT The residence of The Then u.s. AmbAssAdor, mrs. sAlly coWAl. The ideA WAs enThusiAsTicAlly embrAced And in April 1992, A group represenTATive of 12 business enTerprises held An hisToric meeTing ThAT TooK The firsT posiTive sTeps To form The AmericAn chAmber of commerce of TrinidAd And TobAgo.

Developments came swiftly with setting up of the legal infrastructure, formal application to the President, registration and distribution of the AmCham T & T Articles of Association. In May 1993, the organization was formally accepted as a member of the Association of American Chambers of Commerce of Latin America (AACCLA) and the Chambers of Commerce of the USA (COCUSA). From an initial group of 12 at its formation, AmCham T &T had grown to 90 by January 1994, and now boasts of approximately 300 members to date.

AmCham T&T strives at all times to maximize the value of its services to its members. AmCham T&T has established closer links with other Caribbean AmChams in an attempt to develop a stronger, more dynamic voice between the Caribbean and Washington. We have also established a strong link with the Missions, the US Chamber of Commerce, the US

Chambers of Commerce in the 51 states including Puerto Rico and local Chambers of Commerce.

AmchAm T&T’s visionTo be the preferred private sector business organisation for the

stimulation of free and fair trade and investment within the Americas and the Caribbean.

AmchAm T&T's missionAmCham T&T will add value to our member companies within the

following key focus areas:

1. Enhancement of Competitiveness 2. Generation of new business and market access for services/goods 3. Influence on policies and legislation 4. Transfer of Knowledge 5. Contribution to Sustainable Development

In this context, AmCham Trinidad & Tobago will serve the needs and represent the interests of its members.

Our strong mix of formidable local and international member companies; strong networking links; close association with the U.S. Embassy; alliances with the Association of American Chambers of Commerce in Latin America (AACCLA) and the Chambers of Commerce of the United States of America (COCUSA); all ensure rapid access to what you need to compete effectively both locally and in overseas markets. We can therefore


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secure for members strategic information on doing business in a particular country; as well as set up introductions to the right business organisations or companies in the US and throughout the western hemisphere.

WhAT exAcTly does AmchAm T&T do?AmCham T&T assist persons coming into Trinidad and Tobago on

business by putting them in touch with the right people/organsiations who will assist them in ‘setting up shop’ here. It also means that persons seeking to export or import goods can contact the Secretariat for lists of buyers, distributors and suppliers of particular products that they are seeking. AmCham T&T is a very vibrant business organsiation, working closely with the Government on issues on national and international importance. We work to ensure that the private sector has a voice in trade negotiations and we collaborate with other AmChams in the hemisphere to ensure that trade is free, fair and efficient.

AmchAm T&T orgAnsiATion & sTrucTureAmCham T&T puts its members first, because our members are our

first and foremost priority. The Chamber derives its sustainability on our members’ dues and it is from our members’ needs that we derive our work programme of work and chart our future course. The Board of Directors consists of 16 seats. The officers of the Board are President, Vice President, Corporate Secretary and Treasurer. The Secretariat is responsible for keeping the BOD informed of the plans and programmes of work of the various Committees and guides their progress. It is the liaison between our members, the BOD and the Committees. AmCham T&T currently has seven Committees, they are:

20 yeArs of AmchAm T&T Communications Committee; Health, safety &environmental (H.S.E.) Committee , Legislative Committee, Membership Committee, Programmes and Events Committee, Security Committee and the Trade & Investment Committee

AmchAm T&T orgAnisATionAl sTrucTure

Members


Organisations that invest in hSSE up front enjoy a number of benefits, including but not limited to the avoidance of damages to plant and equipment, injuries and illness to personnel and an improved reputation with employees and stakeholders which often results in improved employee morale, increased productivity and in some instances increased business opportunities. moreover, raising the national hSE standard improves the competitiveness of locally based firms with improvements to trade and the overall economic growth and sustainable development of the country. To that end, AmCham T&T established a Safety, health and Environment (ShE) Committee with the objective to positively influence ShE legislation, foster ShE consciousness and awareness by hosting seminars and environmental projects and to establish effective relationships with key ministries and regulatory agencies.

Now the Health, Safety and Environment (H.S.E.) Committee; by way of participation in

AMcHAM t&t’S HSe coMMittee—FroM SHe coMpLiAnce to HSSe exceLLence

the consultative process or providing comments, this group has been actively involved in the development of environmental and health and safety legislation such as the National Environmental Policy the Certificate of Environmental Clearance Rules, the Occupational Safety and Health (OSH) Act, the development of a National Oil Spill Response Plan, the Air Pollution Rules, the Green Fund and most recently the Climate Change Policy and the Draft Waste Management Rules.

A number of seminars and meetings of relevance to HSE have been hosted over the years and have featured presentations and updates from past ministers of the environment, ministers of labour, executive management of the Environmental Management Authority and the Occupational Safety and Health Agency and Authority to name a few. Major projects have included the National Environmental Youth Forum which included essay writing and poster competitions, of which the winning submissions are displayed in the AmCham T&T Secretariat, and the Annual Health, Safety, Security and

Environment (HSSE) Conference and Exhibition. In its 15 years of existence the Conference and Exhibition continues to grow from strength to strength and is now one of the chamber’s flagship events. It is the only event of its nature and scope on HSSE, bringing together over 300 professionals, local and international speakers, students and vendors. The Conference and Exhibition has consistently delivered on its promise to share best practice information, improve HSSE awareness and promote the implementation of HSSE Excellence. In 2011 the theme for the Conference was “The Paradigm Shift—Advancing a Culture of HSSE Excellence”, indeed indicative of growth from its theme in 2000 “S.H.E. Management in Action: Our Next Steps”. The most recent project which dovetails the Annual HSSE Conference and Exhibition is that of the Excellence in HSE Awards Scheme. Launched in 2009, this event is yet another initiative intended to promote HSE best practice by introducing an element of healthy competition amongst peers. Using a management systems approach to HSE, the event seeks to reward Excellence in HSE, by sector and size of company as well as Most Improved Performance and Outstanding Project. Within its short two year history the event is now endorsed by the

AmchAm T&T hAs long recognised The imporTAnce of promoTing The AdopTion of hsse besT prAcTice AmongsT iTs membership. The rATionAle is ThAT hsse excellence mAKes good business sense.



Ministry of Labour and Small and Micro—Enterprise Development with the intention to take on a national scope in 2012.

Outside of projects and events, the committee continues to share information with its membership as well as the wider AmCham T&T membership on HSE issues of organisational and national importance via e-mail, the AmCham T&T website and Linkage magazine.

Disaster Preparedness, Business Continuity and Road Safety have also gained the attention of the committee resulting in awareness and mitigation exercises with the private sector and the provision of equipment to the Couva, Tabaquite, Talparo region through the assistance of the Pan American Development Foundation. In 2012 the committee hopes to continue in this vein and launch its Schools Vulnerability Reduction Programmme. With respect to Road Safety, AmCham T&T has also actively encouraged its members to express commitment to internal road safety programmes through the launching of the Road Safety Policy and provision of monthly Defensive Driving courses at the secretariat. Previous initiatives have included a road safety signage project, sale of posters to promote road safety awareness and an aggressive lobby to implement the use of the breathalyzer to detect drivers under the influence of alcohol in 2009. Moreover, AmCham T&T members are reminded of its road safety

policy at all meetings and events and most recently voluntary breathalyzer testing is provided at social and networking events.

These initiatives have been coordinated and executed by a team of HSE professionals representing a range of member companies. Attendance which is often in excess of 20 members is believed to be due not only of the commitment of the membership to HSE but also due in part to its accommodating practice of rotating venues to the convenience of its members. Through the dedication of the individual members to improving HSE at both the company and country level, the committee has been able to establish excellent working relationships with several key stakeholders which is now manifested in AmCham T&T’s representation on a number of national working groups such as various specification committees of the Trinidad & Tobago Bureau of Standards, the planning committee of the Occupational Safety and Health Authority’s National Safety Week and the Ministry of Housing and the Environment’s climate change focal points to name a few. In 2012 and beyond the HSE Committee will continue to chart the path towards HSSE Excellence in current and new projects through strengthening existing relationships and developing new ones with key stakeholders and improving the committee’s visibility.

These iniTiATives hAve been coordinATed And execuTed by A TeAm of hse professionAls represenTing A rAnge of member compAnies. ATTendAnce Which is ofTen in excess of 20 members is believed To be due noT only of The commiTmenT of The membership To hse buT Also due in pArT To iTs AccommodATing prAcTice of roTATing venues To The convenience of iTs members.



AMcHAM t&t’S Security coMMitteeresponding To emerging securiTy ThreATs in A chAnging environmenT

in this context, AmCham T&T’s Security Committee was established to provide a dynamic exchange of information to assist members on how best to protect their organisation’s assets. This is accomplished in partnership with a number of key stakeholders such as the relevant governmental security and law enforcement agencies, security consultants and experts and of course member companies with first hand best practice experience to share.

The overall objective is that by improving the level of resilience to security risks at the organisational level; the level of national public safety will also improve. Security when seen as an investment and not a cost to the organisation can meaningfully reduce operational risk, improve business performance and create a facilitative business environment, thereby fostering competiveness within the national business community in line with AmCham T&T’s mission and vision. There is also a strong recognition that threats to personal security can not be separated from organisational threats. Personal attacks on

an organisation’s employees whether at home or at work; inevitably affect their ability to perform on the job.

Over the years the committee has responded to a number of changing and emerging threats, including potential acts of terrorism to U.S. business interests, kidnapping, home invasions, car—jacking, work—place violence, fraud and cyber—crime as well as the threat created by the lack of carefully managed services delivered by contracted security providers. The latter of which the committee intends to formally address via the launch of a project to provide members with best practice guidelines and templates in this area. Additional projects have included the aforementioned report on the Financial Impact of Crime to the Business Community and contributions to ”The 44 point Crime Plan” in 2005, a detailed plan outlining a number of changes required by the police service, judiciary and security legislation to fight crime in Trinidad & Tobago. Recognizing that crime is an issue of national importance, both of these initiatives

were carried out in collaboration with additional national business organisations.

Drawing on the expertise available on the committee which ranges from security management professionals in the energy, financial and hotel industries, the group has provided comments on a number of security related legislation such as the Anti—Kidnapping Bill (2003); Anti—Terrorism Bill (2006); Anti—Gang Legislation and Bail Amendment Bill (2010) and proposed for 2012 is the provision of comments on the Private Securities Bill.

In keeping with the mandate to promote the timely and dynamic exchange of information a number of meetings and seminars have been hosted for the benefit of the wider AmCham T&T membership on issues such as:

• “ImplicationsforCrimeandSecurityduringan Economic Downturn” by Robert Tatum (2009)

• “CableVandalismandHowitAffectsYou—Working Towards a Solution” in partnership with TSTT Security and Risk Department (2008)

• “Towards Crime Fighting Initiatives—TheTransformation of the Trinidad & Tobago Police Service” by Professor Stefen Mastrofski (2007)

The committee has additional responsibility for the development and execution of the

iT is no doubT ThAT crime AffecTs All of us And conTinues To be The mosT pressing issue fAcing our nATionAl communiTy. in A reporT To The minisTer of nATionAl securiTy And The commissioner of police in jAnuAry of 2011, iT WAs noTed ThAT over The period 2000—2009 crime hAs hAd A significAnT finAnciAl impAcT on The business communiTy of TrinidAd & TobAgo.



security module at AmCham T&T’s Annual Health, Safety, Security and Environment (HSSE) Conference and Exhibition. The event which is the chamber’s flagship event is attended by more than 300 professionals in the HSSE fields and is the only event nationally of its scope. The Conference has featured a number of local and international speakers on emerging security trends and practices. Likewise the Exhibition features a number of vendors showcasing the latest security technologies. The committee also continues to provide security advisories to the benefit of the AmCham T&T membership which are circulated through the secretariat via e-mail or the AmCham T&T website. In recent times these have focused on events such as the recent limited National State of Emergency (2011) and the Summit of the Americas Conference (2008). Security bulletins are provided on emerging threats as required, for example, during times of increased criminal activity such as the Christmas and Carnival Seasons. The Linkage magazine is another avenue utilised by the committee to

share information with the wider membership in the form of articles on topics such as:

• “SecurityManagementSystems”(2007)

• “Employee Screening and Best PracticeHiring Procedures” (2006)

• “PreventingWork—placeViolence”(2010)

The security committee has also had the opportunity to meet one on one with heads of security and law enforcement agencies such as:

• Senator the Honourable Martin Joseph,Minister of National Security (2007)

• BrigadierPeterJoseph,HeadoftheSpecialAnti Crime Unit (2007)

• Acting Superintendent of Police WayneBoyd, Head of the Anti Kidnapping Squad (2007)

• CommissionerofPoliceTrevorPaul(2009)

• Assistant Commissioner of Police—SouthFitzroy Fredericks (2011)

• Curtis Belford, Secretary of the PrivateSecurity Network Commission (2012) and others

Finally, to ensure greater communication of best practices amongst members; a technical presentation on a security related topic is delivered by a member at each committee meeting.

It is clear that members of the security committee have benefited tremendously from continued engagement and communication with a range of relevant stakeholders. As the committee continues to respond to a number of emerging security threats, the focus has now shifted to the need to build organisational resilience, a holistic approach to risk management that is initiated, championed and accounted for at the executive level. The committee plans to continue its engagement with stakeholders so as to ensure that the activities are informed and in line with the national agenda and better communicate its accomplishments with the membership and the wider national community.

iT is cleAr ThAT members of The securiTy commiTTee hAve benefiTed Tremendously from conTinued engAgemenT And communicATion WiTh A rAnge of relevAnT sTAKeholders. As The commiTTee conTinues To respond To A number of emerging securiTy ThreATs, The focus hAs noW shifTed To The need To build orgAnisATionAl resilience, A holisTic ApproAch To risK mAnAgemenT ThAT is iniTiATed, chAmpioned And AccounTed for AT The execuTive level.



The committee operates under two main tenets:

1. Educating members This critical tenet is one that the T&I committee

holds steadfast, as the committee believes that unless AmCham T&T members and the wider Trinidad and Tobago business community understand local, regional and international issues they would not be able to take advantage of the opportunities, nor minimise the threats of globalisation. In this regard, the committee commenced hosting an annual Globalisation Conference from 2001, which has consistently encouraged thinking outside the box and healthy discussions amongst all groups in society. Fifth and sixth Form students have always been invited to attend and actively participate in the Conference, so as to ensure that our young people can not only interact with business and government leaders, but that they are exposed to issues important to Trinidad and Tobago’s development.

At the end of the 10th Conference the committee, re-evaluated its position and recognised that Governance was now the most critical issue facing Trinidad and Tobago and not Globalisation. As such the committee rebranded the Conference and successfully hosted two Governance Conferences. We look forward to hosting the 12th Conference in November this year.

• The Trade & Investment committee alsosubmits each quarter a relevant trade article to Linkage magazine to educate the membership

2. increasing competitiveness & strengthening trading relationships

AmCham T&T believes that public private sector partnerships and cooperation are essential to improving business competitiveness. As such the Trade & Investment Committee has:

• Forged stronger working ties withthe Ministry of Trade and Industry and representatives sit on the Ministry’s Technical Coordinating Committee (TCC) which feeds into the country’s negotiating position.

• The committee also believes that it isimportant that private sector organisations work together, as their memberships overlap and the objective of sustainable growth for Trinidad and Tobago is key to all. Representatives from the T&I committee sit on the Standing Committee on Trade and Related Agreements which is a committee that all major Chambers and other important groups attend and discuss business issues. The minutes of this committee are sent to the Minister of Trade and Industry.

• AmCham T&T supported the InternationalTrade Negotiations Unit (ITNU) which hones

issues surrounding negotiations in the service sector. The ITNU is a collaborative effort of Private sector business organisation and is led by one of the country’s top negotiators, Larry Placide, who also sit on the T&I committee.

• TheT&Icommittee representativesalsosaton the Business Labour & Advisory Council Committee (BLAC)—which before it was discontinued, discussed amongst other things the movement of labour amongst CARICOM states.

• The committee also solicits feedback fromits membership on important issues which is fed into AmCham T&T’s recommendations to the Minister of Finance for the National Budget. The committee also hosts a Post Budget meeting where Government and other private sector representatives discuss the implications of the Government’s initiatives on business and the economy of T&T.

• In2008and2010,Thecommitteeprovidedcomments to the Ministry of Trade and Industry on its Trade Policy as well as its Investment Policy, and have made presentations to stakeholders on areas the Policies should cover to attract more Foreign Direct Investment (FDI) amongst other things.

• The committee was also instrumentalin getting the Government to save the windfall from the oil and gas sector via the establishment of a Heritage and Stabilisation Fund.

• In 2010, a sub-committee of AmChamT&T’s Trade & Investment Committee

trAde & inveStMent coMMittee

AmchAm T&T’s TrAde & invesTmenT (T&i) commiTTee is one of The mosT vibrAnT And inTellecTuAlly sTimulATing commiTTees of AmchAm T&T. The T&i commiTTee is chArged WiTh The responsibiliTy of execuTing AmchAm T&T’s mission of fAciliTATing free And fAir TrAde And invesTmenT beTWeen TrinidAd And TobAgo And The AmericAs.



developed a report entitled “Strategy and Policy Prescriptions for Moving Agriculture Forward in Trinidad and Tobago: 2010 and Beyond” which was presented to the Honourable Minister of Food Production, Land and Marine Affairs Vasant Bharat during the first quarter of 2011. This report outlined the key constraints faced by the agriculture sector and made several long and short-term recommendations for propelling the sector toward greater efficiency, output, quality, security, competitiveness and profitability.

• In 2011, the committee along with thelegislative committee commented on the JCC version of the procurement legislation and this was forwarded to the Joint Select Committee.

Trade missions

AmCham T&T through its Trade & Investment committee embarked on 3 trade missions:

In 2008, a mission to El Salvador, Costa Rica and Panama- AmCham T&T in collaboration with the Trinidad and Tobago Chamber of Commerce, the ITNU, the Business Development Company and the Ministry of Trade and Industry took 11 firms to El Salvador, Costa Rica and Panama.

In 2011 AmCham T&T embarked on another mission to Colombia where the AmCham was able to facilitate the development of excellent links between businesses in Trinidad and Tobago and businesses in Central and South America.

In 2012, the committee will be intensifying its efforts to create business opportunities for AmCham members and would be embarking on three trade missions: the first would be an incoming mission from Florida where Lt. Governor of Florida Jennifer Carroll (who incidentally is a T&T native) will be leading 15 US companies to Trinidad. Companies who would like to purchase products from the US should contact Melissa Pierre, Trade and Communications Officer at [email protected] to register.

AmCham T&T will also host an outgoing trade mission to two cities in Florida, Doral and Hollywood from 08th October to the 12th October 2012. AmCham T&T will be collaborating with the Florida Foreign Trade Association.

Other work

In the last few years the Trade & Investment committee has also expanded its focus and it boasts of two additional sub-committees:

National Youth productivity Forum (NYpF) The NYPF, an initiative of the AmCham T&T

T&I Committee, actively engages the young people of Trinidad and Tobago in understanding global issues and being part of the solutions by, inter alia, employing the art of critical thinking, innovation and research. This unique initiative of AmCham T&T shows students, primarily Forms five and six, the interconnectivity among the major stakeholders in society—business, government, labour and civil society. The NYPF highlights that not only do the answers not reside with any one group, but also that no one group is responsible for the problems of Trinidad and Tobago. The Forum goes further in that students are also required to examine and discuss effective means of implementing the solutions identified.

Business incubator The Business Incubator an initiative of the T&I committee aims to make a tangible contribution to the growth of the country’s small and micro enterprise sector and to support entrepreneurship and innovation by focusing on value business propositions outside the oil and gas sector. The Business Incubator programme’s approach to mentorship is to match entrepreneurs with several AmCham members as mentors in various areas of expertise.



Website

The committee re-launched the AmCham T&T website twice, once in 2002 and then again in 2007. The website can now allow companies to securely sign in and update their company information. Further the website encourages members to advertise and with two columns—one from the US ambassador and the other from the AmCham T&T Executive Director, AmCham T&T’s website has become the primary ‘Go TO’ when doing business. The website remains in upgrade mode and the Committee will be continuously revising the website to ensure that it continues to contain valuable information for doing business.

Business Guide

The committee is also responsible for publishing AmCham T&T’s Business Guide. The Business Guide has gone through an evolutionary process, however this biennial publication, has consistently provided a wealth of knowledge for

coMMunicAtionS coMMittee

both current and potential investors and features important facts and statistics about the Trinidad and Tobago economy and its investment climate, as well as information on tax incentives, trade regulations, bi-lateral and multilateral trade agreements and other data that both local and foreign businesses will find useful. The most current edition 2012/2013 is in the process of being distributed to all our member companies both locally and overseas. It is also circulated to Non-AmCham members—local individuals and businesses, visiting trade and investment missions, and key trade, tourism and business organisations. Additional copies can be obtained from the Secretariat at US$50

Linkage

The highpoint and staple of the committee’s work is AmCham T&T’s quarterly trade magazine Linkage. This magazine has evolved over the last twenty years from a newsletter to an established magazine, producing 5,000 copies each quarter

and whose e-copy is sent to over 3,000 email addresses locally, regionally and internationally. Linkage contains very interesting articles and has been able to attract articles from top Government and business leaders.

pre Arrival handbook

This book was first produced in 1991 and is now being redone by the committee. The pre Arrival Handbook is a comprehensive guide to living in Trinidad and Tobago. It is specially written for the first time visitor to Trinidad & Tobago and tries to answer some of their most immediate questions and concerns about re-locating to a Caribbean island

monthly meetings

Each year the committee puts forward one monthly meeting on a topic of importance to the membership. They have gotten speakers to address information technology issues, leadership and most recently, the committee has embarked on a three part series on Social Media, within which they would have speakers explore the intricacies of this medium of communication.

The communicATions commiTTee conTinues To TrAnsform And build The AmchAm brAnd As The preferred privATe secTor business AssociATion.



LegiSLAtive coMMittee

The Legislative Committee provides support to the AmCham T&T’s lobbying efforts by providing valuable input on proposed and existing legislation. The committee provides summaries of recent legislation and communicates their business implications to the wider AmCham membership.

in 2003, the Legislative Committee provided input on a number of pieces of legislation that related to Criminal Law. Through this committee’s efforts, AmCham T&T submitted positions to the ministry of the Attorney General on the Anti-Kidnapping Bill, published in Q2 / 2003 of this magazine. in the same year, the committee also made submissions on the Draft Terrorism Bill 2003 and worked with the health, Safety and Environment (hSE) Committee to provide a position on the Occupational Safety and health Bill 2003.

The Legislative Committee participated in the public consultation on the establishment of the Caribbean Court of Justice and hosted monthly seminars for AmCham T&T members to educate them on Foreign Corrupt practices and other related legislation over the years. The committee also updated AmCham T&T’s by-laws, which were ratified by the membership in April 2003. The Legislative Committee also initiated the communication of Government tenders through AmCham T&T and these tenders are now faxed to the relevant companies as well as posted on the AmCham website.

in 2008, the committee held a monthly seminar meeting to highlight the Caribbean Court of Justice.

The Legislative Committee in 2011 worked very closely with the Trade and investment Committee to review the proposed procurement Legislation and present the AmCham T&T position to the parliament’s Joint Select Committee on procurement.

The committee also presented the minister of Justice with ten initiatives they believe would improve the Trinidad and Tobago’s justice system.

The Legislative Committee has consistently provided value added articles to the Linkage magazine over the years namely:

• ‘KNOW YOUR BOUNDARIES’: An article on ambushmarketing and the sunset legislation around the Cricket World Cup

• A three-part series on ‘Amendments to the Proceeds ofCrime Act and The Financial Obligations regulations’.

• AnanalysisoftheIndustrialCOURTFIRSTRULINGUNDEROShA.

This committee, which is made up mostly of lawyers, welcomes membership feedback on initiatives as well as on pieces of legislation which affect them.



AmCham T&T has seven committees and perhaps the most silent of these committees is the Membership Committee who quietly works in the background vetting all applications of companies who wish to join AmCham T&T.

The Membership Committee was the very first committee to be formed in AmCham T&T, being born out of the need to have an entity separate and apart from the then board of directors to recruit and approve new members to the Chamber.

This committee consists of individuals from various member companies who volunteer their time to meet once a month to recommend new member applicants for approval to our board of directors. They seem to know everyone and have their finger on the pulse of the business community of Trinidad and Tobago. They are our ambassadors who actively market and recruit new members to the AmCham T&T family.

AMcHAM t&t’S MeMberSHip coMMittee – tHe AMbASSAdorS oF AMcHAM t&t.

As An AmchAm T&T member compAny, We All KnoW ThAT When We joined, in some cAses A very long Time Ago, We compleTed An ApplicATion form, We goT TWo compAnies To propose And second The ApplicATion, Then We senT iT inTo The AmchAm T&T secreTAriAT folloWing Which, We Were noTified ThAT We Were Approved And Then We received An invoice.

Over the years, we have seen the growth of AmCham T&T from a humble start of 13 founding members to our now proud 290 members. Our founding members were American Life and General Insurance Company (Trinidad & Tobago) Limited (ALGICO), BP Trinidad and Tobago LLC (formerly AMOCO Trinidad Oil Company), Citibank (Trinidad & Tobago) Limited, Colgate Palmolive, Fedex Corporation, IBM World Trade Corporation, Johnson & Johnson (Trinidad) Limited, Kellog Pan American Corporation, Nu-Iron Unlimited (formerly Nucor Iron Carbide Inc.), PCS Nitrogen Trinidad Limited, Phoenix Park Gas Processors Limited and United Airlines.

AmCham T&T has a wide cross-section of companies in the membership, ranging from individual consultants to conglomerates. We have businesses in sectors such as academic & educational, accountancy, professional advisory, advertising, media & television, broadcasting, communications; travel & tourism, banking

& finance, chemicals & pharmaceuticals, constructio & engineering, environmental, energy, distribution wholesale & retail trade; it & software, manufacturing, transport, custom brokers, air couriers, shipping & freight forwarders and utilities. Member companies are based not only in Trinidad and Tobago, but also in the United States and Panama. We are pleased to say that whilst we have had to say goodbye to individuals from existing members, we were delighted to welcome them back to the fold as new AmCham T&T members.

The Membership Committee works closely with another AmCham T&T committee, Programmes and Events, to host the annual AmCham T&T New Members Welcome Reception. This event stemmed from the need to ensure that new members were oriented about AmCham T&T and its committees It also provides an intimate ‘one on one’ networking opportunity for new member executives to interact with AmCham T&T’s board members and committee chairpersons. Each new member company is also given the opportunity to highlight their company to the AmCham T&T board of directors, committee members and AmCham T&T staff in attendance—an excellent way to gain knowledge about organisations

Getting to know the new members. From left: Jason ramsingh, plant Solutions Ltd.; Brian Franco, Third party inspection Ltd.; peter Charles, Jian Enterprises Ltd; Karen Lequay-Charles, Jian Enterprises Ltd. meeting then AmCham T&T president, Simon Aqui; in the background Andres Lezama, Damus AltairStrickland Turnaround Services unlimited; Chris Clement & paul Navarro, Third party inspection Limited; and Aneal Deonarinesingh, plant Solutions Ltd.

paul Navarro presenting on his company Third party inspection Limited.



in the business community of Trinidad and Tobago.

At each Welcome Reception, we come up wtih new and innovative ways to facilitate the networking process between our new members and our existing AmCham T&T representatives. New members of 2010 will never forget the ‘I Spy’ game in Jaffa Restaurant at the Oval, where they were required to locate, amongst other items, a "cosquelle" ring, horizontally striped socks and purple-varnished toe nails—all cleverly hidden on various AmCham T&T board of directors, committee chairpersons and staff members.

Likewise, our 2011 new members were encouraged to ‘chat’ and ‘get to know’ everyone in Scotiabank’s Hospitality Suite for our ‘Human Bingo’ game. The prize at the end of the tunnel was a bottle of wine for those who possessed the skills required to make their way through the crowd to collect the name of someone who ‘Played Carnival in Harts this year’, ‘Does NOT own a Blackberry’, ‘Has read all of the Harry Potter books’ and ‘Supports Manchester United’. For our 2012 new members, this will give you all something to look forward to!

With the passage of time, the Membership Committee has proudly seen the growth of the

AmCham T&T membership to what it is today. They have seen many committee members and chairpersons pass through the halls of the secretariat, and it is with a heavy heart that they fondly remember one of their own who passed this year. Mr. Kenneth Ayoung Chee, former chairman and committee member, will always be remembered for his service to the business community, his pleasant company, his unwavering support of AmCham T&T and above all his integirty and business acumen.

reshma Bissessar of Syntegra Change Architects and hugh howard, then AmCham T&T Vice president.

Joe Brown presenting on his company JKp investments Limited.

michael mohammed, itzawrap Trinidad Company Ltd., finds that "cosquelle ring" on the hand of Communications Committee chairperson Adonna Da Costa-headley of AmpLE.

Ahhh… there are the purple toenails on p&E Committee member, Frances Waller of the u.S. Embassy port of Spain.



“I knew Ken upon joining AmCham T&T since its inception. Ken’s words and advice to me in every aspect was against the background of the highest integrity and honesty. He was a person of impeccable character”.

Membership Committee Member Prakash Bhaggan, Executive Chairman, Insurance Brokers West Indies Limited

“Ken was a Joy to work with, very meticulous in his approach but always accommodating to allow recourse to all potential new members. His opinion was greatly appreciated and respected; from his tenure in banking, he had a vast knowledge of the business community of Trinidad and Tobago that made his contributions valuable. He will be greatly missed”.

Membership Committee Member David Ramsaran, Senior Manager, Business Products, Illuminat (Trinidad & Tobago) Limited

“I am so sad that we have lost Ken. I shall sorely miss sitting beside or across the table from him and listening and learning from his balanced and knowledgeable contributions. We could always depend on his excellent memory for recalling past events and his sound reasoning when difficult decisions had to be made. He served AmCham T&T well and was a true friend to us all. Rest well, Ken”.

Membership Committee Member Penelope Persaud, Director, ECS Real Estate

“Ken was a gentleman of impeccable character. He was a fount of knowledge and there was much that one could have learnt from him. Through his expertise and sound judgement, he often guided our committee through difficult decisions with comprehensive explanations always ensuring that our final decisions were sound. He was a constant supporter and champion of AmCham T&T and his presence will certainly be missed”.

Melissa Marchong, Member Services & Events Officer, AmCham T&T

kennetH Ayoung cHee

“Ken was a person who provided us with much insight into the business community. His wealth of knowledge and experience made him an individual we could rely and call upon to be obejctive in all situatiuons. He was a constant in AmCham T&T and it was very rare for Ken not to be at a committee meeting or at an AmCham T&T event. Thoughts of Ken will linger in our memories”.

Desiree Gobin-Seecharan, Executive Director, AmCham T&T

“Ken was a gentle soul, a gentleman. I still remember his smile as he greeted us at meetings. He knew everyone by name and was always ready for a chat. From across the ocean I send my condolences to his friends and family and say—remember the joy, remember the good times”.

Debbie Wirtjes-Lewis, Past Executive Director, AmCham T&T

> 26 jAnuAry 2012

Ken AT The neW members recepTion in 2010


Ken AT The AmbAssAdor's recepTion in 2004



Ken AT The AmbAssAdor's recepTion 2011

“We knew Ken from his banking days at Republic Bank Limited where he provided us with sound financial advice. Upon his retirement from Republic Bank Limited, Ken became part of the Century Eslon Limited family where he continued to provide us with strong financial and business advice always ensuring that good governance practices were in place”.

David Williams, Former Director, Century Eslon Limited

"The 'epitome of the social butterfly', was just one of the qualities to best describe Ken, as he was affectionately called, by those who worked closely with him.

I worked with Ken Ayoung Chee for approximately three years prior to his retirement from the Bank. I served as one of the Corporate Managers at the time, while Ken was Director of the Bank’s Corporate Division.

Ken, who joined the Bank on January 16, 1956, was a no-nonsense individual, one who had the ability to make one feel at ease nonetheless. He had a great relationship with all the corporate customers and it was clear that his personality endeared him to them.

Ken was known to mix business with pleasure, and could be seen at all social events marketing business for the Bank. He will be remembered

by me, as a gentleman who displayed a lot of confidence in me, since I had no corporate credit experience, but he channeled a lot of responsibilities in my direction.

I appreciated the challenge and the confidence displayed and this spurred me on to improve myself technically. I remembered his appraisals were not the ones that you would want to hear, but on reflection, you knew that they were fair.

I am confident that Ken left a lasting impression on all of the Bank’s corporate customers and the staff that worked with him. One of his final acts prior to retiring was to steer Republic’s Corporate Division through the merger process with the Bank of Commerce’s Corporate Operations.

Having spent 30 years of his life in the Bank’s employ before retiring on January 16, 1996, Ken and I kept in touch and as such, I am aware that he continued to share his knowledge and experience with a number of companies.

He will be missed by all."

Nigel Baptiste, Executive Director, Republic Bank Limited


Ken AT The cAlypso compeTiTion in 2010



MeMory LAne @ AMcHAM



For instance, if you ask raoul John, managing partner of KpmG and AmCham T&T Director, he will say that his fondest memory is winning the first AmCham Citi Linkage Golf Tournament in 1992, while AmCham T&T's first Executive Director June maharaj recalls that “The idea for the golf tournament came from a similar event from AmCham Jamaica."

"At the beginning and for the first two years, Suzette Farah, Nisha Lau, Jean de Meillac, Jean Mouttet and I were the main organisers for the golf tournament," shee adds. "We had incredible success and a lot of fun.” This tournament originated from the need to create an event where AmCham T&T members could interact and network in a sociable and relaxed environment.

tHe AMcHAM citi LinkAge goLFing For LiFe tournAMent

mAny of our members mAy be Wondering: WhAT’s The big deAl AbouT AmchAm T&T’s golf TournAmenT?AfTer All, There Are so mAny oTher chAriTy golf TournAmenTs on The TrinidAd And TobAgo golfing cAlendAr. Well, for mAny, This golf TournAmenT held quiTe A feW nosTAlgic momenTs over The lAsT TWenTy yeArs.

The ciTi in The TournAmenTDennis Evans, Country Corporate Officer

of Citibank (Trinidad & Tobago) Limited and former AmCham T&T President, stepped up to partner with AmCham T&T on this venture and hence the "Citi" in the AmCham Citi Linkage Golf Tournament. Citibank (Trinidad & Tobago) Limited has been the Platinum Sponsor of this golf tournament for the past 20 years, and AmCham T&T extends heartfelt gratitude for the organisation's continued support to this tournament.

The linKAge in The TournAmenTClyde Alleyne, former AmCham T&T President

and former General Manager of IBM World Trade Corporation, explained that there were various ideas that were discussed by the organising

committee at the time and they came up with the idea of the "linkage" element, whereby players who may not have scored well in the tournament would be randomly "linked" with players with high scores. Their combined scores gave the randomly selected teams an opportunity to win some fabulous prizes. This feature is unique to our golf tournament and many of AmCham T&T’s regular golfers will tell you that this is something that they looked forward to, as they knew that even if they did not finish in the top five, they still had a chance to take home a great prize.

Prior to IBM’s computerisation of AmCham T&T’s golf scoring system the tournament used Fedex Corporation’s ‘Courier Scoring System’. The Fedex couriers were the tournament runners on the day, collecting and delivering the scorecards and manually calculating the results of the tournament—thank you Fedex! The IBM team developed a programme to calculate all of the scores for the tournament, including the linkage feature, and have continued to lend their support to us up until today. Thank you, Clyde Alleyne and IBM’s Catherine de Montbrun, who scores the tournament each year.

AmCham T&T staff and programmes and Events Committee members at our 2009 AmCham Citi Linkage Golf Tournament

2009 AmCham Citi Linkage Golf Champions Kenrick & marc Jagroop—Team Baroid Trinidad Services.



golfing for lifeAmCham T&T has always supported various

charities over the years, with part proceeds from the tournament being donated to the Junior Golf Association of Trinidad and Tobago, to the Foundation for the Enhancement and Enrichment of Life (FEEL) and to Servol. It was in 2010, at one of the Programmes & Events Committee meetings, that the concept of "Golfing for Life" was formed, and it was decided that AmCham T&T would dedicate its tournament to organisations that give assistance to persons with autism. After much research and with some assistance from United Way, AmCham T&T selected the Autistic Society of Trinidad and Tobago and The Life Centre as the two charities who would benefit from the AmCham T&T Golfing for Life Tournament.

What is Autism?

There are over 400 known cases of autism in Trinidad and Tobago, and many persons with autism are often left undiagnosed.

Autism is a developmental brain disorder that typically appears during the first three years of life. It affects brain areas controlling language, social interaction and abstract thought. Children and adults with autism typically have deficiencies in verbal and non-verbal communication, and social interactions. (Source: United Cerebral Palsy—www.ucp.org)

We have discovered that the general population of Trinidad and Tobago knows very little about autism and often shun persons with autism and their families. As we are not educated enough about autism, it is very easy to judge and jump to conclusions about something that we do not understand. As several children are often left undiagnosed, parents encounter challenges

when it is time for their children to enter the education system, teachers punish children who may be ‘acting out’ as they are not trained to identify or are unable to recognise the signs of autism. As many families may be below the poverty line diagnosis of autism is often left up to health care professionals in clinics who again may not recognise or may not be adequately trained to identify the first signs of autism.

What are the first signs of Autism?

In the present age of the internet, there are several avenues for us to access information about autism although the most reliable source should be from your health care provider. Should one however, wish to be au courant with the ‘red flags’ of autism here they are:

1. impairment in Social interaction:

• Lackofappropriateeyegaze• Lackofwarm,joyfulexpressions• Lackofsharinginterestorenjoyment• Lackofresponsetoname

2. impairment in Communication:

• Lackofshowinggestures• Lack of coordination of nonverbal

communication• Unusual prosody (little variation in

pitch, odd intonation, irregular rhythm, unusual voice quality)

3. repetitive Behaviours & restricted interests:

• Repetitivemovementswithobjects• Repetitive movements or posturing of

body, arms, hands, or fingers(Source: First Signs—www.firstsigns.org)

Should your child display any of the above signs you should contact your health care provider immediately for an evaluation.

In Trinidad and Tobago there is very little social welfare support available to autistic families and the Autistic Society of Trinidad & Tobago which consists solely of family members of children with autism therefore came together to form the society to be a support group for other families. They provide each other with counselling and training for families regarding the care and education of autistic children. This society relies solely on donations in order to continue their education and counselling efforts to ensure that persons with autism would be able to exist in our society.

The Life Centre is a school which provides specialist care and education for children with special needs, mainly autism. Most of the students attending are from families that are unable to meet the school fees and therefore funding is had through fund raising efforts and generous citizens. As children with autism require personal attention the school has to restrict the number of students they can accommodate per teacher.

Last year, AmCham T&T was able to support each of the above mentioned charities thanks to the generous support of the organisations who participated in our tournament. This year’s tournament is scheduled for Sunday, 3rd June, 2012 at St. Andrew’s Golf Course and we invite you and your organisation to come on board and partner with AmCham T&T for this year’s tournament so that we may continue to assist our above mentioned charities and build awareness of autism in Trinidad and Tobago.

Ambassador Beatrice Wilkinson Welters, u.S. Ambassador to Trinidad & Tobago, and michael Arneaud at the AmCham Citi Linkage Golf Tournament 2010.

2010 AmCham T&T president Simon Aqui with Douglas Subero from Team Atlantic LNG Company of Trinidad and Tobago, 2010 AmCham Citi Linkage Golf Tournament Champion.

presentation ceremony for donations from the AmCham Citi Golfing for Life Tournament 2011, from left Suzy de Verteuil, Life Centre, 2011 AmCham T&T Vice president hugh howard, 2011 AmCham T&T president Simon Aqui, mona Lezama, Autistic Society of Trinidad & Tobago and AmCham T&T Executive Director Desiree Gobin Seecharan.



tHe Four doMAinS oF peopLe´S LiveS

T h o u g h T L e a d e r s h i p

by sTeWArT friedmAn

Stewart Friedman While people in the business community hear a lot about the importance of work/life balance, it's often unclear exactly what that phrase means or how one achieves it. Stewart Friedman, founding director of Wharton's Leadership Program and the Work/Life Integration Project, thinks he has an answer. In his book, titled Total Leadership: Be a Better Leader, Have a Richer Life, Friedman describes the four domains of people's lives—work, home, community and self—and what individuals can do to integrate these domains and improve their leadership skills at any stage in their careers. He talked with Knowledge@Wharton about the ideas and research that went into this book. An edited version of the conversation follows.

To sTArT ouT, cAn you give us A brief descripTion of The Theme of ToTAl leAdership?

The basic idea is that you can integrate the different parts of your life in ways that you probably didn't think about before you went through the steps that I take you through in this book, which is my Wharton course brought to life in the form of a book.

The big idea is that it's possible to create value for the different parts—for work, home, community and your private self, the domain of mind, body and spirit—in ways that you probably didn't think about before. It doesn't have to be a trade-off. Most people operate in a world of thinking about sacrifice as a necessity, that you have to give up something in one part of your life in order to achieve success in another part. That's probably always going to be true to some extent.

What I've discovered in developing this course, refining it over time and doing research on its impact, is that those trade-offs are not as

necessary as we often think. And what it takes to get past that trade-off/balance mentality is leadership. So the book takes you through the process of developing the leadership capacity you need to integrate the different parts of your life to perform better in all of them.

do you hAve A sense of hoW mAny people Aren'T sATisfied WiTh Their lives The WAy They Are run noW? is There A need for This neW looK AT hoW To inTegrATe These four AspecTs of your life?

I think the aspiration to live a full and meaningful life, and to be successful in life, has been around since the dawn of time. What's interesting in what I've observed over the last two decades... is that certain things have changed that make this a more pressing issue today than it was say, 20 years ago.

liKe WhAT?The digital revolution is certainly one. The

24x7x365 opportunity to be engaged in work-related activity has made life a lot more stressful for many people. And the way you create and maintain useful, meaningful boundaries between the different parts of your life, the different roles that you play, has become a really pressing issue because most of us grew up without the technologies that now are ubiquitous.

The psychological and social skills required to use these tools are ones that we never learned as kids. So we are having to develop these

skills in order to keep up with the technological advances that have promised liberation, but that for too many people have resulted in slavery. How you break out of that is a part of what we have to learn.

WhAT AbouT The fAcT ThAT compAnies Are so globAl These dAys, And so much Time is TAKen up jusT in TrAvel, Which cAn be, noT jusT Time consuming, buT exhAusTing?

One of the ways in which people experiment to better integrate the different parts of their lives to perform better in all of them is to reduce travel and use new technology to better manage the demands of their time and location.

So while for many people living in a global economic marketplace causes greater strain because of the assumption that you must be in many different places on earth to get work done, the good news about the digital revolution is that maybe you don't actually have to be there to get done most of what you need to get done.

I think it cuts both ways. A part of the opportunity here and the learning that's required is that we use these communication tools available to us now more intelligently. That requires some experimentation--and learning how to use them in a way that works for you and for the important people in your life, including those people at work and in your family.

hoW To inTegrATe WorK, home, communiTy And self

“mosT people operATe in A World of ThinKing AbouT sAcrifice As A necessiTy, ThAT you hAve To give up someThing in one pArT of your life in order To Achieve success in AnoTher pArT.“

continued on page 42


There hAve been A loT of ArTicles, speeches And probAbly even booKs on WorK/life bAlAnce, including The need To be involved noT jusT in WorK And in your fAmily life, buT in The

communiTy And in personAl projecTs ThAT give you A loT of sATisfAcTion. hoW is This booK differenT from everyThing ThAT's ouT There?

There's a lot of talk about work/life balance for some of the reasons we just described. People are feeling stress; they're not able to devote the time and attention they need to the things that matter most to them.

There's a couple of ways in which I think this approach is different. First, it starts with the notion that you can find ways of creating value, improving performance in all four domains—what I call a four-way win: work, home, community and self—by making intelligent choices about how you use your time and attention that don't necessarily require a trade-off.

With most of the work/life balance approaches, the conversation that is current comes from the point of view of the employee making demands on his or her employer for more freedom and more available time to do things outside of work. And that's the wrong approach.

What leaders do when they try to create change, when they aim to make sustainable change that lasts, is enlist the people around them in whatever it is they're trying to get done that's new by having those people see the benefits for them.

So in the total leadership approach, what you do is first spend some time on what I call "being real." What's most important to you? You write about that. You think about your core values, your vision of the kind of leader you want to become, the world you want to create and the legacy you want to leave. Talk about that with others to get clearer about what really matters to you.

The second piece is what I call "being whole." There you identify the performance expectations of the most important people in your life at work, at home and in the community. You list the most four or five most important people or groups. What do they expect of you? What do you expect of them?

Then you talk to those people. You prepare for, and engage in, what I call "stakeholder dialogs." Imagine having these conversations over a concentrated period of time with the most important people. This is the peak anxiety point in this process because everyone is like, "Do I really have to talk to these people about this stuff?"

In nine out of ten occasions, what happens is that people come through that process with really new insights about how all the pieces fit together and what other people actually expect of them, because most

“WhAT leAders do When They Try To creATe chAnge, When They Aim To mAKe susTAinAble chAnge ThAT lAsTs, is enlisT The people Around Them in WhATever iT is They're Trying To geT done ThAT's neW by hAving Those people see The benefiTs for Them.“

business professionals probably have the following problem: What they believe others expect of them is actually greater than what those people really expect of them. You discover that gap when you have a good conversation.

What's the implication of that, of getting a clearer and realistic picture of what other people expect of you? And if it's true—and believe me, it is true—that people expect less of you than you think, you can then reallocate your time and attention more intelligently. That's what people do in the experiments, which is the third phase, the "innovative," where people take on small steps intended to produce a four-way win.

Now, to finally answer your question about what's different here in the leadership piece: When you engage in these stakeholder dialogs, you find out a lot more about what other people are interested in, what their real interests are in terms of what they need from you and what you need from them.

On the basis of knowing more about what's really important to you and what's really important to them, you can then design smart experiments that really do satisfy their interests. That makes it much more likely that when you create an experiment to produce value for them and for you, that it actually does. And it's entirely customised to you.

The last point I'll make about the work/life balance movement and its failure is the problem of "one size fits all"-ism, which is a not uncommon problem in many HR areas where, for the sake of equality, there's a standard policy that is implemented in a way that's universally applicable—[even though] everyone's life is different and everyone needs different things in terms of how to integrate the different pieces. It's got to be customised.

So this approach is built on your assessment of what matters, who the most important people are in your life and the experiments that fit your situation.

This process cleArly cAn'T be done in A vAcuum. There's A loT of inTerAcTion WiTh oThers, geTTing feedbAcK, giving feedbAcK, eTc. correcT?

It's leadership.

continued on page 44

The WorK/life bAlAnce movemenT And iTs fAilure is The problem of "one size fiTs All"-ism, Which is A noT uncommon problem in mAny hr AreAs Where, for The sAKe of equAliTy, There's A sTAndArd policy ThAT is implemenTed in A WAy ThAT's universAlly ApplicAble—[even Though] everyone's life is differenT

T h o u g h T L e a d e r s h i p ( C o n T i n u e d f r o m p a g e 4 0 )


WhAT's in This for The business communiTy in Terms of increAsed producTiviTy or increAsed profiTAbiliTy?

It's all about improved performance in all domains. We have done research on hundreds of people going through this process to look at the impact in terms of individual performance at work, at home and in the community, as well as [the impact on] spiritual development, and emotional and physical health.

What we find is that satisfaction in all four domains improves, particularly in the self domain, and I can explain more about why that is. But, at the same time, performance goes up, not as much as satisfaction goes up, but performance also goes up in all four areas.

This comes as a result of people doing these experiments and devoting a little bit less time, in terms of hours per week, to their work. Let me repeat that. People are spending less time working, but they're performing better and they're more satisfied across the board. Now, why is that? Again, it's because they're using their time and attention more intelligently. They're doing more of the things that matter to them and to the people around them.

So, the results are positive from a business point of view. You get better energy, better focus and greater productivity.

We have some other numbers to report: financial outcomes, cost savings and productivity improvements, as well.

hoW imporTAnT is iT, or is iT imporTAnT, To hAve menTors or heroes in your life in This process? do you hAve people Whom you recommend? do you suggesT ThAT people cAn perform beTTer if They idenTify people They Admire And Would liKe To be liKe? or is ThAT noT pArT of This process?

It is. One of the first exercises that I ask people to do in the "be real" section, the opening, is [figure out] what's important. There are a lot of different ways of getting at that issue of what you really care about. One of the most effective ways is to write about somebody you admire and say what it is you admire about them.

Many people write about family members, but some will choose historical figures or just friends. It's a useful foil for just contemplating your own values. But you also identify the issue of mentorship.

On my way over here, I was reading an email on my Blackberry from somebody who had gone to a workshop that I did at the U.S. Olympic Committee at Olympic University back in the fall. She wrote to me and said, "As a result of doing your exercise, I identified mentors in each different domain. I'd never actually done that before and I just wanted to tell you—this is now five or six months later—that it changed my life."

To think about and to cultivate important relationships in each domain was really important to this person, and it is for many. It becomes an important point of focus in their work in this programme.

WhAT's The mAin reAson ThAT people give for noT WAnTing To underTAKe This process, becAuse iT is, As you've described iT, Time consuming And A liTTle risKy? you hAve To involve oTher people Who mAy or mAy noT be As inTeresTed in doing This As you Are.

Right.

so, WhAT's The pushbAcK you geT from people Who sAy, "iT's noT for me?”

Well, it isn't for everyone. And there are shorter versions of it. I'll be doing a talk at a company tomorrow where it will be 300 people in an hour and a half. It's very different than a four-month enterprise of meeting regularly and doing all this work outside the sessions.

The big pushback is that some people just don't want to look inside and spend the time thinking about what really matters to them and how they're actually living. Either they're just not ready because they're not mature enough, or they haven't thought about it enough.

WhAT's The mAin TAKe AWAy ThAT you WAnT people To geT from your booK?

The main idea—and the reason I'm so enthusiastic about what I've observed as a result of people undertaking this enterprise, this practice if you will --is a greater sense of control and freedom living in ways that are consistent with what you're passionate about, what you really care about.

I find that when people do that, when they take even a small step that's under their control, that's intentional and that's in a direction that they choose, they feel better about their lives and about the people they're affecting with their actions on a daily basis. That's just very gratifying to see.

The reason I'm excited about it is that it's possible for just about anybody to do that if they are willing to make the small investment that's required.

T h o u g h T L e a d e r s h i p ( C o n T i n u e d f r o m p a g e 4 2 )

WhAT We find is ThAT sATisfAcTion in All four domAins improves, pArTiculArly in The self domAin, And i cAn explAin more AbouT Why ThAT is. buT, AT The sAme Time, performAnce goes up, noT As much As sATisfAcTion goes up, buT performAnce Also goes up in All four AreAs.

AmchAm T&T is The exclusive officiAl cArrier of The ThoughT leAdership series for TrinidAd And TobAgo, A series of inTervieWs WiTh World-renoWned ThinKers And leAders in business.

LET US DO YOUR TAXES

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continuouS proFeSSionAL deveLopMent

What is the process?

CpD isn't a fixed process, but there are certain basic processes that you should be aware of. Fundamentally, it's a question of setting yourself objectives for development and then charting your progress towards achieving them. it's about where you want to be, and how you plan to get there. One approach is based on outcomes and results, rather than 'time spent' or 'things done'.

is it time consuming?

Yes, it is. You have to capture useful experiences and assess the practical benefits of what you have learned. There is one decisive question that you should ask yourself when evaluating every piece of learning: what can you do now that you couldn’t do before? Similarly, when you record your CPD, it’s the value of the activity that counts. It’s not what you did, but how you can use what you learned.

Why should i keep a CpD record?

As a professional, you have a responsibility to keep your skills and knowledge up to date. CPD

helps you turn that accountability into a positive opportunity to identify and achieve your own career objectives.

At least once a year, it is recommended that you review your learning over the previous 12 months, and set your development objectives for the coming year. Reflecting on the past and planning for the future in this way makes your development more methodical and easier to

measure. This is a particularly useful exercise prior to your annual appraisal!

how do i get started?

It is recommended that you review your learning over the previous 12 months, and set your development objectives for the coming year. Reflecting on the past and planning for the future in this way makes your development more methodical and easier to measure. You may already be doing this as part of your development review with an employer.

There is a set of questions you can use when asked to provide evidence of your CPD. Answering these will help you explore the pattern of your past and planned learning, with the emphasis firmly on the impact of that learning.

Last year Next year

What were the three most important things you learned last year? How did you learn them?

How do you identify your learning and development needs?

What value did you add (to your organisation, clients or colleagues) through professional development?

What are your three main development objectives and how will you achieve them?

What were the tangible outcomes of your professional development in the last 12 months?

What differences do you plan to make (to your role, organisation, clients or colleagues?)

Has anyone else gained from your professional development? How?

When will you next review your professional development needs?

WhAT is cpd?cpd is A combinATion of ApproAches, ideAs And Techniques ThAT Will help someone mAnAge Their oWn leArning And groWTh. The focus of cpd is firmly on resulTs such As The benefiTs ThAT professionAl developmenT cAn bring you in The reAl World. perhAps The mosT imporTAnT messAge is ThAT one size doesn’T fiT All. Wherever you Are in your cAreer noW, And WhATever you WAnT To Achieve, your cpd should be exAcTly ThAT: yours.

business

jAnice leArmond criquiCPC, Ideal Life Certified Professional Coach


What were the tangible outcomes of your professional development in the last 12 months? What differences do you plan to make (to your role, organisation, clients or colleagues?)

Has anyone else gained from your professional development? How? When will you next review your professional development needs?

how should i present my CpD?

Some people find it helpful to write things down in detail, while others record 'insights and learning points' in their diaries as they go along. This helps them to assess their learning continuously. These records and logs are useful tools for planning and reflection: it would be difficult to review your learning and learning needs yearly without regularly recording in some

way your experiences.

The thing to remember is that records and

logs are tools for planning and reflection. CPD is

what you experience, learn and then apply.

how CpD benefits you

The benefits of CPD aren’t just felt when

you’re going for promotion or upgrading to a

Professional membership. Many employers now

value ‘learning agility’ as a core competency.

• Buildconfidenceandcredibility,youcansee

your progression by tracking your learning.

• Earnmorebyshowcasingyourachievements.

A handy tool for appraisals.

• Achieve your career goals by focusing on

your training and development.

• Cope positivelywith change by constantly

updating your skill set.

• Be more productive and efficient by

reflecting on your learning and highlighting

gaps in your knowledge and experience.

how CpD benefits an organisation

As organisations shift the responsibility for

personal development back to the individual,

the ability and insight to manage your own

professional growth is seen as a key strength.

• Helps maximise staff potential by linking

learning to actions and theory to practice.

• Helps some professionals to set SMART

(specific, measurable, achievable, realistic

and time-bound) objectives, for training

activity to be more closely linked to business

needs.

• Promotes staff development. This leads

to better staff morale and a motivated

workforce helps give a positive image/brand

to organisations.

• Adds-value,byreflectingitwillhelpstaffto

consciously apply learning to their role and

the organisation’s development.

• Linkingtoappraisals.Thisisagoodtoolto

help employees focus their achievements

throughout the year.

helps some professionAls To seT smArT (specific, meAsurAble, AchievAble, reAlisTic And Time-bound) objecTives, for TrAining AcTiviTy To be more closely linKed To business needs

C

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Y

CM

MY

CY

CMY

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LisaStripAD2,5x8-4,12,2012.pdf 1 4/12/2012 2:10:27 PM

some people find iT helpful To WriTe Things doWn in deTAil, While oThers record 'insighTs And leArning poinTs' in Their diAries As They go Along. This helps Them To Assess Their leArning conTinuously. These records And logs Are useful Tools for plAnning And reflecTion: iT Would be difficulT To revieW your leArning And leArning needs yeArly WiThouT regulArly recording in some WAy your experiences.


Growth and investment in Trinidad and Tobago: A review and prospects for the Economy in 2012

1. Following the financial crisis of 2008, the Trinidad and Tobago economy declined for three consecutive years from 2009-2011, at an average annual rate of 1.6 percent. This was a weaker performance when compared with this country’s peers and with the BRIC (Brazil, Russia, India and China) countries. Comparative average rates over the period for some of the BRIC countries were 3.5 percent for Brazil and 8.2 percent for India. Comparable growth rates for peer countries, over the same three-year period were 3.2 percent for Oman and 2.8 percent for Botswana. The higher growth rates in these countries were stimulated by higher levels of investments in all cases. The message for us is that growth will not take place in Trinidad and Tobago in 2012 if investment fails to pick up pace.

2. I have been asked by the American Chamber of Industry and Commerce to do a review of the Trinidad and Tobago economy in 2011 and to examine the prospects ahead in 2012. This, I intend to do but with a focus on growth and investment. I have chosen to speak about growth and investment, not only because I discern a bit of a welcome buzz in the business community, concerning investments but also because I understand the importance of investment and growth in the provision of sustainable solutions for

groWtH And inveStMent in trinidAd And tobAgo

A revieW And prospecTs for The economy in 2012presenTed To The AmericAn chAmber of TrinidAd & TobAgo jAnuAry 31, 2012, hilTon TrinidAd And conference cenTre

social challenges. I believe, however, that this connection, between investment and growth on the one hand and social amelioration on the other is neither well understood nor appreciated by many persons at all levels of this society.

3. During the last year, Trinidad and Tobago witnessed a nascent coalition government struggling with a range of issues. These included attempts to fulfill expectations following the elections victory, seemingly intractable criminal activity, the failure of CLICO and the fallout thereof, industrial unrest and a weak economy. All of these issues were compounded by continuing volatility in the external economy. Undoubtedly, the major intervention was the imposition of a State of Emergency, the result of which was a mixed bag, for while criminal activity was temporarily reduced, activity in the non-energy economy, especially the retail and entertainment sectors took a big hit.

4. Notwithstanding the estimated 1.4 percent decline in the overall economy, 2011 ended with the country still boasting reasonable reserves of US$9.9 billion, low average unemployment (6.0 percent), low inflation (5.3 percent), low interest rates, among other generally positive indicators. Good news came to those who invested in the stock market as the Composite Index rose 21.0 percent during the year and making this country’s Stock Exchange, the fifth best-performing in the world, according to

Business Insider. Just about two weeks ago, the Minister of Finance even reported that the actual fiscal deficit is smaller than the initial estimate of $7.7 billion, coming in at just under $4.0 billion for the fiscal year 2010 to 2011. This is the result of greater energy revenues and lower expenditures during the last fiscal year.

5. In 2012, this economy is anticipated to grow by 1.7percent, with growth likely strengthening towards the latter half of the year. Businesses in both the energy and non-energy sectors are likely to contribute to growth. This growth is mainly based on an estimated $26 billion or 18 percent of GDP worth of investments, which the Minister of Finance in his last Budget said “will contribute to the renewal of growth in the economy.” Foreign reserves are expected to remain at a reasonable level, inflation under control, and unemployment, at a reasonable level too. Important initiatives in energy and construction are likely to help with growth this year. Initiatives in the energy sector last year are already lifting activity in the sector while the start of construction of the San Fernando to Point Fortin Highway augurs well for that sector. Not to be overlooked are the housing drive and initiatives in agriculture and elsewhere.

6. The fact is, however, that economic output has contracted for three consecutive years, 2009-2011, at an average rate of 1.6 percent as measured by real GDP. This compares to an average annual 7.0 percent growth over the previous three years. Not surprisingly GDP per capita, a rough estimate of average individual income, has also declined by an

by ronAld rAmKissoon, ph.d.Senior Economist, Republic Bank Ltd.

business


average 6 percent annually over the same period, compared to an average annual increase of 20.0 percent in the previous three-year period -- a significant decline. Per capita GDP is estimated to have fallen from just over US$21,000 in 2008 to US$17,000 in 2011.

7. If national income is falling, one cannot expect to continue to increase spending for long, however good the cause might be. What of borrowing some may ask? While borrowing does have a role in prudent financial management, greater and greater borrowing, without the necessary expenditure adjustments, is certainly not the answer. Witness the global turmoil over these issues, which are threatening another global economic collapse.

8. If we are to halt the decline, and address the many social issues that challenge our society, then economic growth must be restored. Not growth for growth’s sake. Growth is important if an economy is to provide jobs and tax revenues, both of which contribute enormously to addressing social issues such as poverty. For this reason, we must seek to return this economy to a positive growth path, if the delivery of social services is to be assured.

9. So the question might be, how best to re-ignite sustainable growth? Both theory and experience will show that the best way to stimulate sustained growth is through investment. Notably, however, total investment as a percentage of GDP declined over the three-year period 2009 to 2011, to average 9.7 percent, compared to 13.2 percent over the previous three-year period (Figure 1).

Figure 1: GDp & Total investment (% Change)

10. If the World Bank’s data is to be believed, Trinidad and Tobago’s investment-to-GDP

ratios, which were in the “teens” over the last five years, compare unfavourably with China and India, which show ratios ranging from 35 to 40 percent, and even with Barbados and Jamaica (Table 1).

Table 1: Gross Capital Formation (% of GDp)

Source: World Bank Data

11. Most importantly, over the three-year period as well, direct investment of the foreign private sector (FDI) declined by a huge annual average of 37.0 percent. Investment by the government declined by an average 4.0 percent. Preliminary estimates done by this author suggest that investment by the domestic private sector might have grown by 12 percent. It is a pity that investment data are so dated as well as limited.

12. Not only does Trinidad and Tobago demonstrate a lower investment-to-GDP ratio compared to other countries but the economy’s income decline over the last three years was directly related to the fall in investment by foreign investors and government.

13. Government investment expenditure has been the largest component of total investments in the recent past and, as such, has played a significant role in this economy. However, over the last few years it is recurrent expenditure that has increased while capital or investment expenditures have declined. Recurrent government expenditure will not drive sustainable growth but capital expenditure will. If government really wants to rekindle sustainable growth it will not come from government recurrent or consumption expenditure but from capital expenditure.

14. FDI in the hydrocarbon sector has been the main driver of this economy for many years (Figure 2). While its direct share in total investments is usually less than that of government, its indirect impact, via taxes, is larger. It is the primary source of government revenues and hence expenditures. FDI depends, not only on whether or not a country has natural resources but also on conditions in the home and international markets. Major source markets for this region have traditionally been the USA, UK and Canada. The first two countries are under severe fiscal strain and, not surprisingly, China, India, Brazil and even Russia have been knocking at Trinidad and Tobago’s door. The Government is on the right track in trying to attract investment from these new sources but it needs to be extremely cautious that net benefits accrue to this country.

Figure 2: FDi & GDp (% Change)

15. If I have convinced you that a return to growth is important for this economy and that investments are the most important lever in driving economic growth then I would have achieved my goal. But what rate of growth is considered appropriate? Based on its technical work at the time, if Trinidad and Tobago was to become developed by 2020, the Vision 2020 Group recommended an annual increase in GNP per capita of 9.0 percent. Given what has happened in the developed world, this required rate of growth is likely to be smaller. Nevertheless, Trinidad and Tobago’s GDP per capita (which proxies GNP per capita) declined by just under 6.0 percent annually on average, over the last three years. The World Bank expects developing countries to grow by 5.4 percent in 2012. Trinidad and Tobago is far from either target. This means that we must move quickly, but strategically, to stimulate stronger growth over the next few years, the benefits from which all stand to share.

2006 2007 2008 2009 2010

uSA 20 19 17 14 15

uK 18 18 17 14 15

Norway 22 24 22 20 21

Singapore 21 21 30 26 24

China 43 42 44 48 48

india 36 38 35 36 35

Barbados 22 22 22 22 15

Jamaica 28 27 24 20 21

T&T 16 13 11 14 12

buT WhAT rATe of groWTh is considered AppropriATe? bAsed on iTs TechnicAl WorK AT The Time, if TrinidAd And TobAgo WAs To become developed by 2020, The vision 2020 group recommended An AnnuAl increAse in gnp per cApiTA of 9.0 percenT.

z


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On the bilateral front, there has been an increasing trend to member states negotiating partial scope agreements by themselves. The fact that so many member states are pursuing trade agreements outside the CAriCOm framework yet the CAriCOm Canada negotiations continue to move lethargically is telling. One member, St. Kitts and Nevis recently negotiated a partial Scope Agreement with Brazil. We have seen CAriCOm give approval for Barbados and Belize to negotiate partial scope agreements with Brazil and mexico respectively. Trinidad and Tobago submitted its panama partial Scope Agreement to

COTED for approval over six months ago. At the recent heads of Government list four members states indicated objection to the list of goods for preferential market access that Trinidad and Tobago grants to panama. interestingly member states object to inclusion of items like apple juice, peach juice and apricot juice which the region does not produce. it is perhaps not surprising, but perhaps disappointing that several CAriCOm member States have contented themselves with seeking to protect their “market interests” by objecting to certain of the tariff concessions granted by Trinidad and Tobago.

it might have been useful and progressive had one or two indicated to Trinidad and Tobago that they too would like to join the agreement with panama. This would have led to the expansion of the agreement and could have given impetus to negotiation of market openings in services as well through a full free trade agreement with one of the region’s better performing activities. The Government will, because of these objections, need to advise on the course of action they will take to allow for the implementation of this agreement during this year and the negotiation of a similar agreement with Guatemala, such negotiations are supposed to begin in the month of April.

internally, efforts are to improve the functioning of the Single market and in particular improve the applicable rules of

by lArry plAcide And AishA sTeWArTinternational Trade negotiations unit

trAde deveLopMentS in cAricoM

iT hAs been sAid ThAT There is no cAricom TrAde policy buT TrAde policy ThAT is effecTed in cAricom. if We AccepT This chArAcTerisATion As True for The purposes of This ArTicle, We cAn go on To looK AT WhAT hAs been hAppening on The TrAde policy fronT in cAricom in The pAsT six monThs.

TrAde

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(conTinued from pAge 24)

origin and revise the Common External Tariff. These elements are critical but difficult. Consultants have been engaged to assist the process but progress has been slow. The region has also been looking at Article 164 concernning special and differential arrangement for CAriCOm Less Developed Countries (LDC) which include preferential treatment for LDCs for certain goods. These two activities though deeply related appear to to be happening in manners distinct from each other.

it is worth considering perhaps whether the process is so important that it should be taken out of the current institutional framework of CAriCOm and a “special purpose vehicle” created to carry this process through. This “vehicle” could be something akin to the intergovernmental Task Force that led to the revised Treaty of Chaguaramas but it would have the restricted remit of revision of the rules of origin and the framework of the common external tariff.

The only ongoing negotiation of CAriCOm is with Canada. respite was given late last

year with the extension of Canada’s waiver at the World Trade Organisation to allow it to continue to apply the preferences of the CAriBCAN arrangement for two more years. We have elsewhere expressed the hope that the two parties would move with alacrity to complete this agreement so it could be implemented long before January 2014. The fact is that one quarter of the year has elapsed and the two sides have not yet met. Thinking positively, it could be that both are assiduously preparing their positions to allow for truly constructive meetings during the last nine months of the year. But we do know that a matter as critical and the way services will be liberalised by both parties remains unresolved and this gives us some pause.

An important aspect of regional trade policy is the implication of the judgments on the policy and decision makers on trade within the region. Evolving CCJ case law has added a rules-based dimension to decision making in CAriCOm. Nowhere is this more clearly illustrated than in the manner in which the region has approached questions

of suspensions of the CET. until recently the region’s officials believed that a suspension could be an upward or downward movement. Whereas the treaty indicated a narrow set of parameters, in practice suspensions have been granted outside these parameters. The recent humming Bird rice mills Case stated that a movement of a tax temporarily must be within the parameters set in Article 83 (1) and (2) . This has restricted the options available to member states.

Overall, it is unrealistic to think that trade policy making in the CAriCOm would escape or not be affected by the current governance challenges facing the Caribbean Community. heads of Government have authorised the release of a recent report by Consultants seeking to lay the foundation for the revival of confidence in CAriCOm. it proposes significant internal changes and should be required reading for anyone interested in our regional integration movement. The report, “Turning Around CAriCOm: proposals to restructure the Secretariat” can be obtained at http://www.caricom.org.


FLoridA inbound And outbound MiSSionS

cAll for disTribuTors, mAnufAcTures, imporTers, business oWners

Do you purchase products and services from the uS?

Do you want to purchase products and services from the US Then this is your opportunity to take advantage of reduced prices because of the global downturn

iNBOuND miSSiON

AmCham T&T will be hosting an incoming mission together with Florida’s official economic development agency- Enterprise Florida. 15 Companies from Florida will be in T&T from 05th to 08th August 2012, and they are looking for Trinidadian companies interested in US products. The sectors are:

OuTBOuND miSSiON

AmCham T&T is partnering with the Florida Free Trade Association to host an outgoing mission to Florida from October08th to 12th 2012 to two cities- Doral and Hollywood.

participants will receive:

9 to 12 one-on-one business appointments depending on sector

Orientation seminar

4 breakfasts & 3 luncheons

Welcome reception

Closing dinner

Transfers and taxes all included Sectors are:

please contact melissa pierre, Trade and Communications Officer at [email protected] for more info, or to register to participate

TrAde mission

• EnergyServices(Oil,NaturalGas & Petrochemicals)

• FoodProcessingandPackaging

• AutomotivePartsandAccessories

• Information&Communications Technology

• Construction

• Tourism

• Agriculture

• Transport&Logistics

• PrintingandPackaging

• Yachting

• CreativeIndustries

• CleanTechnology

• LightManufacturing

* if your industry or product is not listed, there may still be ample opportunities. please contact us to appraise your specific market objectives.

• FoodProcessingandPackaging

• AutomotivePartsandAccessories

• Information&CommunicationsTechnology

• Construction

• Tourism

• Agriculture

• Transport&Logistics

• PrintingandPackaging

• Yachting

• CreativeIndustries

• CleanTechnology

• LightManufacturing

* if your industry or product is not listed, there may still be ample opportunities. please contact us to appraise your specific market objectives.


AmchAm T&T

AmCham T&T successfully hosted the AACCLA Business Future of the Americas Conference. This was the second time that the Conference was hosted by a Caribbean AmCham. The 2008 BFA Conference was held at the Hyatt Hotel and the Mid Year Meeting was held in Tobago. The Conference and Mid Year Meeting received excellent reviews from both the local and foreign participants with special mention being made of the line-up of international speakers, topics and entertainment. Our chosen theme of “Energy and the Environment” was a huge success and I am proud to say that we have raised the bar for future BFA Conferences, just as we hoped to do.

over 250 persons attended attended the Conference, including

•PresidentsandCEO'softhe23AmChamsinLatinAmerica•SeniorExecutivesofNationalandGlobalCorporationsoperatingwithinthe

Western Hemisphere•SeniorGovernmentOfficialsfromtheUnitedStatesandtheRegion•ExpertsinthefieldofEnergy,Environment,FinanceandTrade

june:Annual AmCham Citi Golfing for Life Tournament – June 3rd:

AmCham T&T continues its initiative to build awareness of Autism in Trinidad and Tobago through its Annual Golfing for Life Tournament. Part proceeds from the tournament will once again be donated to the Autistic Society of Trinidad and Tobago and the Life Centre. Join us as we strive to improve the quality of life of persons with autism in Trinidad & Tobago.

AmCham T&T’s Annual Ambassador’s reception :AmCham T&T’s signature networking event for AmCham T&T Member

Executives.

AugusTincoming Trade mission from Florida August 05th to 08th 2012:

AmCham T&T along with the US Embassy Trinidad, Enterprise Florida and the US Commercial Service in the DR will be bringing 10 to 15 firms to T&T to do business with local companies interested in US imports.

AccLA buSineSS Future oF tHe AMericAS conFerence 2008

up coming evenTs in 2012


securiTy

how much do you know about AmCham T&T’s Services & products?

Did you know? Our strong mix of formidable local and international member companies, strong networking links, close association with the U.S. Embassy and alliances with the Association of American Chambers of Commerce in Latin America and The Caribbean (AACCLA) all ensure rapid access to what you need to compete effectively both in local and overseas markets. We can therefore secure for members strategic information on doing business in a particular country as well as set up introductions to the right business organisations or companies in the U.S. and throughout the western hemisphere.

As your door to opportunities in a globalised environment, some of AmCham T&T’s services are listed below.

AmCham T&T u.S. Visa FacilitationYou are eligible to use this facility for renewal of visitor’s visas from

the U.S. Embassy for business. In addition, when the automated visa appointment services areas are ‘backlogged’, AmCham T&T may facilitate expedited visa appointments for business travel and training for company personnel. This is available at no cost to the employees of member companies.

AmCham T&T introductionsYou may already be in contact with a company with whom you would

like to do business or make an alliance. AmCham T&T will send a letter of introduction for member companies, which will include details such as the length of time your company has been a member of AmCham T&T and your company’s involvement with Chamber activities etc. AmCham T&T will encourage the setting up of a meeting for you to promote your products and services, but will not endorse an individual company product or service, as we represent several competing companies in any one industry.

Access to AmCham T&T membership DatabaseListed AmCham T&T executives may request at any time from AmCham

T&T the most updated version of our membership database highlighting companies’ names, addresses and executives’ contact information. An excel version is also available.

AmCham T&T Executive info SessionLaunching a new product or service?AmCham T&T’s InfoSessions are an excellent way of niche marketing

to the decision makers of our 297 member companies, as well as to the wider business community. AmCham T&T will be responsible for sending out notices of the session to our members and the wider business

WhAT you AlWAys WAnTed To KnoW And never dAred To AsK AbouT AmchAm T&T ...

hAve you ever ThoughT AbouT joining An AmchAmT&T commiTTee?

All AmCham T&T's financial members are encouraged to have representation on the committees in order to voice their issues and to provide feedback for the lobbying effort of the AmCham T&T’s Board of Directors. Committee meetings are another forum where members can share invaluable experiences and information with each other. See list of AmCham T&T Committees.

amcham T&T on The inside

amcham T&T commiTTees:

•Communica

tionsCom

mittee

•Health,S

afetyand

Environmental

(HSE)Com

mittee

•Legislativ

eCommittee

•MembershipCo

mmittee

•Program

mesandEve

ntsCommittee

•Security

Committee

•Tradeand

InvestmentC

ommittee

To join a committee, please contact Melissa Marchong at

[email protected] Tel: (868) 622 4466/0340

community, registration, organising the room and refreshments as well as any other administrative duties that may arise.

in-coming & Out-going Trade missions and One-on-One Appointments

One-on-One Appointments Through our local and international connections as well as the

international AmCham network, AmCham T&T can arrange one-on-one appointments for companies who are seeking to expand their businesses in Trinidad and Tobago and the Americas.

incoming & Outgoing Trade missionsInformation is available upon request.

AmCham T&T monthly meetingsYou will receive notices of our Monthly Meetings, which usually begin at

8:15 a.m. and end between 9:30 and 10:30 a.m. AmCham T&T business is usually the first item on the agenda, followed by a guest speaker and a discussion session. The format of most meetings is a breakfast. Occasionally these meetings may take the form of a Luncheon or Dinner. This may be the case if there is a special event or an important overseas visitor. Your company may also choose to become the corporate associate of a particular meeting for a sponsorship fee.

AmCham T&T Board room rental

AmCham T&T’s conference room is available for meetings, training sessions and board meetings. Send the particular details regarding meeting needs in terms of seating, catering, equipment, etc. and we will arrange it for you.

AmCham T&T Organsing Your Event

(Event MUST be trade or business-related) AmCham T&T can arrange the logistics of your event, all arrangements including sending out invitations via email or otherwise, following for responses, coordination of logistics at venue before and after function, special invitation to ministers / diplomatic corps. and AmCham T&T's staff member costs on the day.

Event Email mailout Service (EEmS)

(Product, seminar or service MUST be trade or trade-related) EEMS is an email service which gives you the opportunity to detail your event (e.g. conference, seminar, etc.) to the executives listed on the AmCham T&T database (over 800+ executives). The event advertised must surround business, trade or other trade-related matters.

please note that some of AmCham T&T services & products carry a nominal fee.


We Love reAding

download back issues of linkage on our website: www.amchamtt.com

purchase your copy of the Amcham T&T business guide or book advertisements and/or contribute articles in linkage, contact melissa pierre: Tel: (868) 622-4466 / 0340 / 628-2508email: [email protected]

TAles of fAcebooKby dAniel miller

In 2012, the AmCham T&T Communications Committee hosted a series of seminars that dealt with "New Media". This book is a timely addition to the series, and provides "further reading" so cherished in academia.

"Tales of Facebook" provides an anthropological analysis of Facebook usage in Trinidad. "I have been carrying out fieldwork in Trinidad intermittently for over twenty years, and have written three previous volumes about the island," writes Miller in his Preface. "This book is based on a the observation of Trinis on Facebook itself, in addition to spending two months in December 2009 and January 2010 carrying out fieldwork within Trinidad." Miller quotes that 2010 figures of Facebook penetration in Trinidad are 26%, out of which 54% are female. "Taking users as a proportion of persons with internet access, Trinidad may be second in the world after Panama. During fieldwork, Facebook was found to be ubiquitous amongst those of high school and college age, with the exception of very low income areas."

Enough to whet your appetite, marketers and decision makers in business and industry? Well, get "Tales of Facebook" and find out more what Miller has to say.

Check www.socialbakers.com/facebook-statistics/trinidad-and-tobago for up-to-date statistics of T&T Facebook usage

This & ThAT

by Alice Besson, Paria Publishing Co. Ltd.Book tip came from Charleen Thomas, U.S. Embassy in Port-of-Spain

be seen locAlly, regionAlly And inTernATionAlly

Advertise on the Amcham T&T websitefor very low rates.

contact melissa pierre, Trade and Communications Officer at [email protected]

Linkage Q1 2012

Documents

Transcript of Linkage Q1 2012