THE Trade and Investment Convention (TIC) is expected to generate US$100 million in confirmed sales this year, signalling renewed momentum in regional and international deal-making, according to Trinidad and Tobago Manufacturers’ Association (TTMA) president Dale Parson.
“And that might be a little bit modest, judging from the number of booths and the amount of activity and interest on the floor,” Parson told the Sunday Express Business while speaking from the trade floor at the Centre of Excellence, Macoya.
The TIC, launched in 1999, is the flagship event of the TTMA.
Parson noted that these sales would directly benefit the national economy by helping to boost the country’s foreign exchange reserves.
“What we are seeing is that the non-energy manufacturing and export thrust is definitely going to reduce the pressure on the locals of T&T to access forex,” he said.
Attendance numbers also indicated strong interest. By the second day of TIC, Parson reported approximately 15,000 registrants.
Looking ahead, he hinted at greater government collaboration.
“The EximBank facility for manufacturers, especially to buy raw materials, is being renewed. And I think they have a big plan that they’re going to roll out between now and September,” Parson said.
Parson also reiterated his call for 20 acres of State land to build a Caribbean Trade and Convention Centre. He envisions a 200,000-square-foot facility with expanded parking. Traffic congestion at the current venue, he said, has become a deterrent.
“It’s just becoming too much of a hindrance to come to TIC now,” he said, describing the experience as “a nightmare”.
While the Government has shown interest, he confirmed no definitive action has yet been taken.
‘Better funding for
SMEs needed’
Minister of Planning, Economic Affairs and Development Dr Kennedy Swaratsingh, who also attended TIC 2025, struck a more personal note.
“I think I’m going to leave here ten pounds heavier and slightly intoxicated,” he joked, after trying various samples of ponche de crème, chow, kurma and doughuts.
However, beneath the humour was a serious commitment to transformation through enterprise and innovation.
Swaratsingh praised the innovation of small and medium-sized enterprises (SMEs), saying: “I’m so impressed with the level of entrepreneurship and innovation. We need to have a part in our stores where it allows local persons to display their products. Some of these things ought not to be seasonal.”
He said locally made seasoning, snacks, and ready-to-cook meals as items deserve permanent supermarket shelf space. He suggested major retailers could help by creating designated local product sections.
On the broader role of the State, Swaratsingh was candid and touched on funding for SMEs: “We need to create better funding for SMEs. We need better marketing opportunities. We’ve talked about this as a society, but I’m not sure we’ve done enough to make it happen.”
He acknowledged many SMEs have succeeded “in spite of the system, not because of it,” and promised to bring the issue to Cabinet’s economic development cluster.
“The most important thing is not just the awareness that a space like TIC creates but whether we can convert that into real market opportunities. People have to be able to make a living all year round, not just at events like this.”
Swaratsingh also addressed forex reform and noted: “One of our challenges will be to bring what is an informal market into the formal market. There’s forex in the country—it’s just not where it should be,” he said.
He called for confidence-building in the banking system and confirmed that T&T is close to finalising an agreement with the International Finance Corporation (IFC), the private-sector arm of the World Bank.
“The draft establishment agreement is now with the Attorney General and the Ministry of Finance for review before it goes to Cabinet,” he revealed.
The IFC and the Multilateral Investment Guarantee Agency (MIGA), he said, can unlock funding and technical support for private-sector growth.
“We must operate as a facilitator between what’s here and what’s available from an economic or market perspective,” he said.
Growing business
confidence
Minister of Trade, Investment and Tourism Satyakama Maharaj described TIC 2025 as a “mind-boggling” demonstration of the country’s growing business confidence and global readiness.
“This is something mind-boggling. I think it reflects the level of business confidence in the country. It has escalated,” he said.
With 350 exhibitors, TIC 2025 marks the largest turnout in the event’s history. Maharaj suggested that the projected US$100 million in trade could be exceeded.
“From what I’m seeing here, I think they’ll do more. The quality I see now compared to when we first started coming to TIC—it’s a quantum leap,” said Maharaj.
He backed calls for a permanent convention centre and floated the idea of a separate TIC edition dedicated to SMEs.
“You will get 1,000 booths in that alone. A lot of high-quality entrepreneurs in this country,” he said.
For US Virgin Islands-based entrepreneur Tammy Isaac, TIC is a gateway to expansion.
“I’m a farmer. So, I grow my fruits and then after that, I cultivate them into a value-added product, which is the popsicles,” she said.
Isaac already exports to nearby islands but wants to enter the T&T market.
“If I can find a way where they can come here in frozen form, I’ll be able to do some business,” she said, noting her products are already FDA (US Food and Drug Administration) approved.
Her visit to TIC has already generated potential leads.
“We spoke to some people, got some business cards, and we’ll be corresponding through e-mail,” she said.
Importantly, Isaac isn’t seeking to displace local producers, but assured: “It’s not to really compete with them, but to be in cooperation.”
Fellow Virgin Islands entrepreneur Linda Bailey brought a different blend of island exports—natural wellness products under her Harmony Bath and Body and Tea Time brand.
Bailey, who farms herbs, vegetables and livestock, creates products such as shower therapy sprays using homegrown basil and lemongrass.
“You go home, sprinkle this to the back of your shower, turn the water on, and the aroma helps you to sleep and forget about the day,” she said.
Her line includes sugar scrubs named for each Virgin Island—St Thomas, St John, and St Croix—each capturing the unique essence of those locations. She also sources raw materials like shea butter directly from Ghana.
“We try to go there (Ghana), visit and learn more about what it is that we’re putting on our skin,” Bailey said.
She attended TIC 2025 as part of an Economic Development Commission-led delegation of top Virgin Islands companies. “We are one of the 11 best companies out of the Virgin Islands,” she said.
Now she hopes to enter the T&T market. “A lot of people came by, interested in it. They love the product, so we would like to get it into a store and then be able to forward them to that store,” she said.