TRINIDAD & TOBAGO ECONOMIC HIGHLIGHTS - JULY PART 1

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SUBJECT: TRINIDAD & TOBAGO ECONOMIC HIGHLIGHTS - JULY PART 1


The following were notable economic issues in Trinidad & Tobago
during the first half of the month of July.


1. Tsunami Warning training for Caribbean/Latin
America

2. Caribbean Airlines to be privatized

3. More TV stations coming

4. T&T/Barbados fishing agreement one step closer

5. Tobago says 'All the fish/flying fish gone'

6. HBO announces new Caribbean Channel

7. Stiff penalties for water polluters


1. Tsunami Warning Training for Caribbean/Latin
America
-------------- ---

The University of the West Indies (UWI) Seismic Research Unit (SRU)
recently hosted a six-day Caribbean Training Course in Seismology
and Tsunami Warning Workshop funded primarily through a US$249,680
USAID Office of Disaster Assistance (OFDA) grant. This workshop at
UWI's St. Augustine campus aimed to help participants from the
Caribbean and Latin America develop their understanding of the
science of tsunamis, hazard and risk assessment, preparedness,
education and outreach and the operational best practices to tsunami
warning centers and tsunami emergency response agencies. The
workshop was held in collaboration with the USAID Office of Disaster
Assistance (OFDA),the United Nations Development Programme (UNDP),
U.S. Geological Survey (USGS),the Puerto Rico Seismic Network
(PRSN) and the USESCO Intergovernmental Oceanographic Commission
(IOC) International Tsunami Information Center (TIC).
Recommendations made by participants included calling on national
governments to ensure that Tsunami Preparedness becomes a more
significant part of their multi-hazard early warning and mitigation
system, and establishing National Early Warning Systems Committees
inclusive of their Tsunami Warning Focal Point (TWFP) and Tsunami
National Contact (TNC); developing end-to-end capabilities to
rapidly deliver tsunami warning guidance to all those at risk,
utilizing whatever medium is appropriate; and organizing and
implementing public education, preparedness and sensitization
activities for vulnerable communities


2. Caribbean Airlines to be privatized
--------------

At a news conference at the recently concluded 28th Meeting of the
Caribbean Community Heads of Government Conference, Prime Minister
Patrick Manning announced the GOTT's intention to privatize the
state-owned carrier Caribbean Airlines (CAL) as soon as it becomes
profitable. Manning said that the idea behind creating CAL to
replace BWIA was for "the government to get out of the air transport
business." He said that at the appropriate time the airline's
shares will be divested to the region, including the private sector.
The government's vision is for an airline that is private
sector-led rather than led by government, but "there will be
government involvement." CAL replaced BWIA effective January 1,
2007, at a cost to the GOTT of US$350 million.


3. More TV stations coming
--------------

The Telecommunications Authority of T&T (TATT) announced the opening
of the free-to-air television market to allow for seven new
television stations, consisting of three additional national
providers, two additional major territorial providers (Trinidad
only) and two minor territorial providers (Tobago only). According
to TATT's acting Executive Director Cris Seecheran, requests for
proposals (RFP) will be issued by the end of August. Presently,
there are six service providers. TATT will also open the market for
broadband wireless services, the spectrum for which will be
available through a competitive process. Successful bids will be
selected through an auction process to be managed by
PriceWatehouseCoopers. Sigma Communications Ltd., Green Dot Ltd.,
Telstar Cable System Ltd., Open Telecom Ltd. and Columbus
Communications Trinidad Ltd. have pre-qualified to take part in the
October auction.


4. T&T/Barbados fishing agreement one step closer
-------------- --------------

Following the 2006 ruling of the International Tribunal of the Law
of the Sea with regard to the maritime boundaries between T&T, Prime
Ministers of T&T and Barbados announced that a draft fishing
agreement now exists. There are plans for a delegation from
Barbados to travel to Tobago to meet and hold discussions with its
fisherfolk before the agreement can be finalized. Barbados PM Owen
Arthur said that the draft agreement is going to insist that "the
Barbados fishing people can access the Trinidad waters at a specific
time of the year, with a specific amount of flying fish to be caught

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under prescribed conditions to ensure that the stocks be satisfied
as being there and not being depleted." The countries have been
negotiating a fishing rights agreement since 1978.


5. Tobago says "All the fish/flying fish gone"
-------------- --

The All Tobago Fisherfolk Association (ATFA) advised that the Tobago
fishing industry experienced another poor fishing season this year,
and that stock, particularly flying fish, was grossly insufficient
to supply exporters and barely enough to supply local requirements.
According to ATFA, everyone directly involved in the fishing
industry has been seriously affected and companies will soon begin
closing their doors. ATFA wants the relevant authorities to provide
a scientific explanation for the cause of the depleted fish stock.
The Association believes that over exploitation of the current
fishing zones and off-shore oil drilling by Petro-Canada are major
contributors to the problem and is calling on the Tobago House of
Assembly (THA) to look into this matter. The Association is also
waiting to be consulted on the fishing agreement between T&T and
Barbados.


6. HBO announces new Caribbean Channel
--------------

HBO Latin America Group announced its new English-speaking channel
tailored for the Caribbean. The new station, which is expected to
begin airing this month, will feature 100 percent English content
and will show international blockbusters and the most acclaimed U.S.
and global series, as well as major boxing matches. HBO has sought
for years to stop Columbus Communications and its brand Flow from
pirating HBO's signal. According to John Reid, President and Chief
Operating Officer of Flow, his company is pursuing a contractual
agreement with HBO and he is confident that the issue will soon be
resolved.


7. Stiff penalties for water polluters
--------------

The Trinidad and Tobago Environmental Management Authority (EMA)
recently announced that companies in breach of the new Water
Pollution Law can incur penalties up to US$1,600 a day and face
closure. Registration as a "Source of Water Pollutants" is
mandatory and applies to all persons and companies that release
wastewater containing water pollutants into the environment. Water
Pollution Rules (WPR) can be viewed on the EMA's website at
www.ema.co.tt.

SWEENEY