Home' Trinidad and Tobago Guardian : January 22nd 2014 Contents A15
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GENEVA---The United Nations'
labour agency says the number of
unemployed people around the world
rose above 200 million last year as job
opportunities failed to grow at the
same pace as the global workforce.
The International Labour
Organisation said an estimated 201.8
million people were unemployed in
2013. That's 4.9 million more than the
An annual ILO report points to an
uneven global economic recovery and
says East and South Asia together
accounted for more than 45 per cent
of last year's increase.
The agency puts last year's global
unemployment rate at six per cent,
unchanged from 2012. It says it
expects little improvement this year,
projecting that the jobless rate will
edge up to 6.1 per cent and the
number of unemployed will rise
another 4.2 million. (AP)
UN: More than 200 million jobless last year
Prime Minister Kamla Persad-Bissessar
will lead a T&T delegation to China on an
official visit next month to open an embassy,
discuss the Chinese-financed US$1.5 billion
port at La Brea, and encourage trade and
Trade Minister Vasant Bharath told reporters
the visit will take place "around February 20".
In his address at the launch of the Trade and
Investment Convention (TIC) 2014 at the
Courtyard Marriott, Port-of-Spain, the min-
ister invited manufacturers on the trip saying
the private sector would be welcomed.
He said the visit "will open new avenues
for doing business and allow for the private
sector to form business ties and develop trading
and diplomatic links with the Chinese".
Bharath said the Government will be focus-
ing on the maritime sector as a rival to the
energy sector in terms of revenue for the coun-
try. He said downstream projects and sport
tourism were two other areas of focus on the
Government s trade and investment agenda.
The minister also said his Government has
raised T&T from 88 to 66 in the global ranking
for ease of doing business. He said he is aiming
to get T&T into the top five in that ranking.
"Government recognises that trade is an
important driver of economic growth, poverty
reduction and development. We are cognizant
of the key role that trade policy has and con-
tinues to play in diversifying the export base;
increasing global trade share; and effectively
integrating the economy into the global trading
system," he said.
Bharath said the Ministry of Trade recently
completed its Trade Policy for 2013-2017 with
the overarching goal of ensuring the benefits
of international trade contribute to the socio-
economic development of T&T.
"The policy will expand market access
beyond our shores and provide a platform for
manufacturers to get their products on the
international stage and be exposed to new
technologies and new ways of doing business,"
Bharath used the opportunity to invite an
El Salvadorian delegation, led by the Vice
Minister of the Economy, Mario Roger Hernán-
dez to "get onboard in TIC 2014 and seize the
opportunities presented to showcase what El
Salvador has to offer to businesses/investors
from all over the world". The El Salvador was
in T&T for the second round of negotiations
of a partial scope agreement.
T&T Manufacturers Association (TTMA)
president Nicholas Lok Jack there were plans
to have 750 buyers at TIC 2014.
"We will showcase as many of our local
manufacturers as possible and highlight the
future of the manufacturing sector." he said.
Lok Jack joined Bharath in calling on the
business community to "seize the golden
opportunity TIC presents to propel their busi-
ness forward and let the world see what they
have to offer".
TSTT s executive vice president Rakesh
Goswami, who also addressed the launch, said:
"The regulatory body for our industry, the
Telecommunications Authority of T&T, made
recent observations of the approximately three
per cent that the local telecoms industry was
contributing to national gross domestic product.
"I might add that indirectly, through oper-
ational efficiencies and productivity increases
made possible by the smart adoption of tech-
nology, our true impact on the country s pro-
ductivity will be much higher."
Goswami described TIC as the single most
important trade show in T&T and even the
wider Caribbean and said blink/bmobile
viewed the event as "the ideal place for the
meeting of minds and business".
Goswami read his speech from his iPad
while other speakers read from paper. When
TTMA president Nicholas Lok Jack jokingly
complained that the TSTT boss making him
look "antiquated," Goswami offered to send
Lok Jack an iPad.
Larry Nath, Group CEO, First Citizens Bank
said: "FCB s involvement in TIC as an official
sponsor is not accidental but in keeping with
its mandate to grow business and investments
Manufacturers invited on PM's visit to China
Executive VP, Enterprise and Government Services, TSTT, Rakesh Goswami, right, proudly
displays the iPad from which he read his speech at the launch of the 15th Annual Trade and
Investment Convention (TIC) at the Courtyard by the Marriott. With him are, from left, CEO of
First Citizens Group, Larry Nath, Minister of Trade, Industry and Investment, Vasant Bharath
and president of TTMA, Nicholas Lok Jack. PHOTO: MARYANN AUGUSTE
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