Media Statement June 22, 2020

The Board ofDirectorsof the Trinidad and TobagoChamber of Industry and Commerce wishes to advise that it has met today with its CEO, Mr. Gabriel Faria to discuss matters related to recent news and social media coverage.

We have saved lives, now it’s time to focus on livelihoods

The Trinidad & Tobago Chamber of Industry and Commerce (The Chamber) commends the Government for its handling of the COVID-19 outbreak, the containment of the virus has been, as the Prime Minister quoted, “Equal To Any And Better Than Many”. The Government’s actions have undisputedly saved lives and now it is time to focus on livelihoods responsibly.

T&T Chamber Pleased with Early Phase 2

We are happy The Government has agreed to reopen the manufacturing, construction, automotive repair, tyre shops, laundry and dry-cleaning sectors early. We see this as protecting employment and generating foreign exchange earnings.

We fully support the desire to protect lives and we believe Trinidad and Tobago has taken all the steps to do so. We are confident that this country will be recognised as having one of the best responses to COVID-19 as we have had no cases reported over the past 21 days.

More balance needed for phased re-opening

While the Trinidad and Tobago Chamber of Industry and Commerce fully supports a riskbased re-start of the economy, today’s announcement by the Prime Minister on a phased re-opening took a very risk-averse approach. We recognise that a delicate balance is needed, but we are extremely disappointed and concerned about the potential impact to the ongoing viability of the majority of businesses. The approach outlined will result in increased unemployment, social tension, increased crime and further stress upon our already fragile economy.

FOLLOW THE STAY- AT- HOME ORDER

The Trinidad and Tobago Chamber of Industry & Commerce strongly supports the initiatives of the government to restrict all unnecessary movement at this time. We ask our businesses and the national community to stay at home unless absolutely necessary.

COVID-19 IMPACT ON SMALL BUSINESSES & VAT PAYMENTS

The T&T Chamber continues to be encouraged by the Government’s strong leadership in addressing the current challenges arising from COVID-19. As economic slowdown is being experienced across many sectors, the T&T Chamber welcomes the various emergency support measures to address the drastic impacts COVID-19 is having on households, businesses and the economy.

MEDIA RELEASE A PROACTIVE PLAN IS NEEDED

A PROACTIVE PLAN IS NEEDED
These are difficult times not just for Trinidad and Tobago, but for many other countries around the world. The impact of COVID-19 and its impact on the commercial sector as well as the drastic decline in energy prices have negatively affected economies across all continents.