Thank you for inviting me here this morning to participate in the official launch of the Trinidad and Tobago’s Business Association of New York. It was approximately a year ago when this initiative was conceptualized. Then, I pledged my encouragement and support for the formation of such an organization, and today I am pleased to see this positive and dynamic development has indeed taken place.

From the perspective of national development, this type of organization serves to deepen and strengthen the business, social and cultural relationships between Trinidad and Tobago and its citizens across the globe. In this increasingly liberalized and competitive environment, organizations such as yours have become even more critical as nations strive to enhance their status and create a positive brand and image to attract investors.

Business Associations are significant entities in the landscape of any country. They face many of the same challenges as individual business in terms of management effectiveness, effectiveness in the delivery of service, cost implications and the need to understand the environment in which they operate. However, business associations provide far greater benefits than individual firms as a result of the collective efficiencies that are generated from their operations. These efficiency gains result in, among other things, reduced risk, increased productivity, increased quality and increased competitiveness

It is well that your association understands its role at this embryonic stage of its existence since a major challenge faced by business associations is to maintain its relevance to the business community it serves in this increasingly globalized environment. This of course, depends on the capability of the associations to adapt to the demands of the environment. The use of relevant technology to gather and disseminate information, and formation of strategic alliances will be of importance here. In the current business environment, your association can create significant linkages between home-based business interests and those here in the United States. I envisage that you will seek to extend your reach and influence and build and strengthen Trinbagonian and US networks.

I am proud of your strategic orientation and the priority you place on doing business with Trinidad and Tobago, since we all stand to benefit enormously from this type of partnership. Trinidad and Tobago is on a growth trajectory and your formation could not have taken place at a better time for you to participate in the benefits of this growth.

Once more, I thank you for inviting me to be part of this historic moment. I look forward to the further growth and development of this organization, as it becomes an integral institution in the business environment of the City and State of New York and of Trinidad and Tobago.

I THANK YOU.