Prime Minister of Trinidad and Tobago visits CAF headquarters in Caracas

(Caracas, October 14, 1992).- Trinidad and Tobago Prime Minister Patrick Manning made an official visit to the CAF headquarters in Caracas today. Manning is also head of the Caribbean Community (CARICOM) formed by 30 countries.

CAF began a vitally important approach to the Caribbean area by granting, last September 7, a line of credit to Royal Bank of Trinidad and Tobago to finance foreign trade operations between that country and the Andean nations and third countries provided the product exported contains at least 50% of inputs from member countries of the Andean Group.

A commercial operation has already been negotiated under the agreement between the NESTLE companies of Ecuador and Trinidad, and another is expected very soon between Papeles Venezolanos and the Trinidad company Conrad Lee Pack.

These actions are implementing one of CAF’s objectives which is to expand its sphere of action to the greater part of Latin America and the Caribbean, through joint business, preferably at private sector level.

The objective of Prime Minister Manning’s visit is to create closer links between the two regions and become familiar with the actions which CAF is taking in this respect.

CAF President & CEO Enrique García said new lines of credit were expected to be signed with two more Caricom members - Barbados and Jamaica - to establish new trade and investment links between the Andean and Caribbean subregions.