Learn about barriers to market entry and local requirements, i.e., things to be aware of when entering the market for this country.
Last Published: 7/20/2019
  • A challenging business environment will continue in 2019: TT’s recession and subsequent stagnation are causing lengthy delays receiving payment in foreign currencies. The Export-Import Bank of the United States has options to assist with this situation. The resolution of legal conflicts is time consuming and the 2019 World Bank Ease of Doing Business Report ranks TT at 174 out of 190 countries in enforcing contracts largely because of such delays.  The decision-making process for tenders and the subsequent awarding of contracts can at times turn opaque without warning, despite best efforts by the proposing company to fulfill all compliance requests.
  • There are over 100 agencies that do tendering, each with their own procedures.  Some foreign investors report encountering problems when their company’s interests run contrary to those of competing state-owned enterprises or locally-based companies with political influence.  The greying of the TT workforce and increasing competition with global suppliers are other challenges for U.S. companies. Costs in Trinidad and Tobago are relatively high, including for wages and raw materials. Strong labor unions, low worker productivity, and reported shortages of both skilled and unskilled workers present additional challenges. Up-to-date information required for decision-making is often unavailable, resulting in the need to recruit good market research services.
Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.


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Trinidad and Tobago Trade Development and Promotion