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Minister Cadiz Toured Chaguaramas Area

The Honorable Minister of Trade and Industry toured the Chaguaramas area recently for a first hand look at the wide range of yachting businesses, especially in light of the recent slowdown in the sector. Yachting is one of the non-energy sectors identified for aggressive development by the Government. The local yachting services industry generates US$40M in revenue and employs over 2,000 people. The industry began to take off in the early nineties when yachtsmen visiting the Caribbean began to show preference for the sheltered Chaguaramas Bay area. At its height in the year 2000, some 3,000 boats were coming to Trinidad and Tobago to make use of our services, however these numbers have been declining steadily over the years and last year some 1,400 boats came to our shores. The Ministry of Trade and Industry is working along with the Yachting Services Committee and Yacht Services Association to address the major problems facing the sector and ensure its continued viability.

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