Situated at the southernmost fringe of the Caribbean, the twin-island nation of Trinidad and Tobago is tempering its traditionally oil and gas-centric economy with a focus on sustainability and innovation.

While the two islands have very different – and complementary – cultures, the territory as a whole outperforms many near neighbours against a number of economic metrics. A high-in- come developing country, it is also among the wealthiest of the Caribbean Community (CARICOM) states and the fifth richest by GDP per capita in the Americas, according to World Bank analysis.

Moreover, the Inter- national Monetary Fund (IMF) predicts that GDP will increase by 5.4% as the economy steadily rebounds from the impact of COVID.

Unlike some Caribbean nations, Trinidad and Tobago’s economy owes much to oil and gas production; petroleum and petrochem- ical industries here accounted for almost three-quarters of export earnings in 2020.As a result, the energy exploration and pro- duction sector has underpinned Trinidad and Tobago’s economy to date, historically attracting the most foreign direct investment (FDI) – which is why the country already has a strong affinity with the UAE.

In light of COP28 and the renewed focus on sustainable investment, the task ahead for Trinidad and Tobago is to find a way of sensitively and sustainably making greater use of its natural resources. The Hon. Faris Al-Rawi – the country’s Minister of Rural Development and Local Government – high- lighted the many benefits of doing business in Trinidad and Tobago.

We have stable politics, a reliable judicial system, well respected in the international space, a safe harbour protected from hurricanes, said the minis- ter.Being a mature oil and gas country, we are looking at the possibility of becoming a market hub when gas is no longer produced in onshore facilities and is a pipe-to-ship process.