http://www.trinidadexpress.com/business/King__Gas_prices_expected__to_be_low_until_2035-114986214.htmlJanuary 31, 2010
With gas prices predicted to remain low for decades to come, emphasis must be placed on creating competitive on-shore businesses.
This was stated by Mary King, Minister of Planning, Economic and Social Restructuring and Gender Affairs, at the presentation of appointments to members of the Competitiveness and Innovation Council at the Hyatt Regency hotel in Port of Spain yesterday.
"Gas price (is) expected to be very low for some time given the glut of gas in the market. The International Energy Agency in the US suggests that the price may remain low until 2035," King said.
"The critical role of this council is immediate in that it has to seek measures to increase the productivity and more positively the competitiveness of our on-shore businesses," she said.
The other members of the council are Catherine Kumar, Karen de Montbrun, Richard Lewis and Francis Lewis. A council member from the trade union sector is still to be appointed
Newly-appointed chairman of the council, Dr Bhoendradatt Tewarie, said the council's first priority is to improve this country's ranking on the Global Competitiveness Index (GCI).
"Given where we are and given where one of our other Caribbean islands is in terms of competitiveness I think it would be reasonable to set ourselves a mandate of trying to move us from where we are to much higher up on the competitiveness," Tewarie said.
"It should not be unreasonable for us to strive to be in the top 40 in the world as our first objective. We would then have to figure out what are the things that we need to do in order to make that possible."
The 2010-2011 GCI ranks Trinidad and Tobago at 84, while Barbados is ranked at 43.
