Trinidad and Tobago - Country Commercial Guide
Market Challenges
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Access to foreign exchange remains the biggest challenge to bilateral trade with TT.  Due to an overvalued currency and excess demand for foreign exchange, smaller local companies and those that do not generate their own U.S. dollars through exports often face a three to nine months’ delay in acquiring foreign exchange to pay U.S. suppliers.  Red tape within the regulatory framework can be a challenge. The Public Procurement and Disposal of Public Property Act was fully proclaimed in April 2023 with immediate implementation. The legislation was designed to reform the decision-making process by improving accountability, transparency, and integrity Prior to recent reform, some firms reported that the government procurement processes would at times turn opaque without warning, despite bidders’ best efforts to fulfill compliance requests.  It is uncertain whether procurement reform will increase transparency in selling to the government.  Crime remains a concern and security measures add to the cost of doing business.