Ahmedabad, July 29 (UNI) The High Commissioner of Trinidad and Tobago Pundit Maniedeo Persad today called on the Gujarat-based business community to leverage their business plans to take maximum benefit of the strategic location of his country in the Caribbean region.
Mr Persad was speaking at a seminar on ''Trade and Investment Promotion in Trinidad and Tobago'', held here in collaboration with Gujarat Chamber of Commerce and Industry.
He said Trinidad and Tobago is in close proximity to both South American region and USA, therefore it can be effectively used as a trading and marketing hub for the entire American region.
''We have a stable political climate, the bank policy of open economy is irreversible and has the second lowest energy cost in the world, making it highly cost effective for energy intensive industries,'' he said.
Trinidad and Tobago had also entered into various bilateral and multilateral trade agreements, which provide immense preferential trading arrangements with trading blocks and individual countries, he said.
Another advantage for the business investment in his country, he said was that foreign companies were not required to have a local joint venture partner and permission from government was also not necessary for purchasing land upto one acre for residential purpose and five acres for business purpose.
Meanwhile, Mr Persad also paid a courtesy call on Gujarat chief minister Narendra Modi at his office here and expressed his country's readiness to develop bilateral commercial relations with Gujarat. He also indicated that a high level delegation from Trinidad and Tobago will take part in the Vibrant Gujarat Global Investors Summit-2009.
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