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European Business Chamber in Trinidad and Tobago

Acronym: EUROCHAMTT

General Information

Identification Code: 691041532109-03
Website: [object Object]
Entity Form: Non-Profit Association
Registration Category: Non-governmental organisations, platforms and networks and similar
Registration Date: 8/10/2018
Last Update: 4/1/2024
EP Accredited Number: 0

Mission & Interests

Goals: To be the main voice for European Business in Trinidad and Tobago (advocating and defending their interest), a key point of contact for European investors wishing to explore investment and partnership opportunities in Trinidad and Tobago and a key partner to European institutions extending programmes to European and local investors in the interest of promoting trade and investment between Trinidad and Tobago and Europe. Part of ''Team Europe'' in Trinidad and Tobago 1. Advocacy to improve the business environment in support of members. How we do this: 2. Trade and marketing support to members 3. Climate Action Projects 4. Networking Opportunities for members 5. Information services
Interests Represented: Promotes their own interests or the collective interests of their members
Interests:
  • Agriculture and rural development
  • Climate action
  • Culture
  • Digital economy and society
  • Economy, finance and the euro
  • Energy
  • Environment
  • External relations
  • Food safety
  • Foreign affairs and security policy
  • International co-operation and development
  • Maritime affairs and fisheries
  • Public health
  • Research and innovation
  • Taxation
  • Trade
  • Transport
Levels of Interest:
  • sub-national
  • national

Activities

Main EU Legislative Proposals: EUROCHAMTT operates in Trinidad and Tobago and tries to influence the Government of Trinidad and Tobago on implementation of policy areas directly impacting EU companies operating in Trinidad and Tobago because such EU companies must comply with their own national and EU policy and laws. These policies and legislation include both international agreements in which Trinidad and Tobago is a signatory but has failed to comply, as well as EU policy and Laws that have been agreed with Trade Partners (e.g. trade agreements). Our advocacy is directed more at the local Government to comply with EU law and the international agreements and impact more positively on trade and investment relationships with the EU. We have also sort assistance from EU bodies (e.g. DG-Trade, Business Europe, Wine & Spirts) and international bodies (e.g. OECD) for information such as statistics and status of dialogue with the TT Government. 1. Sustainable Fishing: Trinidad and Tobago has been identified as a noncooperating State in the global fight against illegal, unreported and unregulated (IUU) fishing and has been assigned a red card. In accordance with Article 33 of the EU Regulation 1005/2008 concerning the fight against illegal, unreported and unregulated fishing, Trinidad and Tobago is banned from exporting fish to the EU. This matters as there are companies currently exporting to the US who believe they can meet EU requirements but because of the ban against the country, cannot export. The EU has been providing technical support to assist the country but the issue remains at the level of Parliament. 2. Tax governance: Trinidad and Tobago is not yet compliance with the OECD Global Forum on Transparency and Exchange of Information for Tax Purposes and is on the EU's list of non-cooperative jurisdictions for tax purposes; 2018. The result of this status is that some EU companies are penalized by their own Governments for operating in non-compliant countries. For example, Spanish companies. We have had direct discussions with EU Tax Council members and the OECD regarding Trinidad and Tobago's status. 3. EPA: Since signing the trade agreement with the EU in 2008 - Trinidad and Tobago has failed to ratify and fully implement the CARIFORUM-EU Economic Partnership Agreement (EPA), especially article 16 on reducing tariffs; this is ongoing. Several subsidiary agreements in the EPA leading to improvement and transparency in Customs procedures are also not implemented. We have had discussions with DG Trade on this and have received support to access customized statistics from the EU Market Access database. 4. Climate action: Agreements including Paris Climate Change Agreement and related follow up Agreements under COP26, 27, 28 have led to policy and legislation in the EU such as the ESG related reporting directives and standards, Carbon Border Adjustment Mechanism, Corporate Due Diligence, Anti deforestation policy. These policies, legislation and regulation impact directly on trade with the EU especially related to carbon heavy products such as methanol, urea, ammonia, fertilizers as well as wood-based products and possibly cocoa industry. EUROCHAMTT is committed to providing information and awareness and other support for trade between the EU and Trinidad and Tobago. Successful outcomes to our lobbying efforts in the area include: 1. pressure for the ratification of the Paris Agreement in 2017. 2. Additionally, since 2022, we have begun a Sustainability Initiative in partnership with the United Nations Trinidad and Tobago, aimed at increased engagement of the private sector in adopting ESG reporting standards and implementing policy and systems to support data capture, measurement, disclosure of sustainability impacts and strategies for improving positive and mitigating negative impact. We are also covering information on CBAM, Corporate Due Diligence, Anti-De-forestation legislation.
Communication Activities: March 2024 and March 2023 - Sustainability Champion Awards. The awards are aimed atincreasing engagement of the private sector in adopting ESG reporting standards and implementing policies and systems to support data capture, measurement, disclosure of sustainability impacts and implement strategies for improving positive and mitigating negative impacts; The Ceremonies both years attracted over 60 participants each (attendees), 18 companies completed self assessments in 2023 and 13 completed in 2024(although a lower number, quality of submissions had improved significantly). The awards have also now attracted sponsorship (UN- PAHO/WHO and Massy Motors agent for Volvo). January 2024 - EUROCHAMTT was invited by the EU Delegation in Trinidad and Tobago to meet with a high level team visiting, led by Mr. Félix Mr. Fernández-Shaw, Director for Latin America and the Caribbean at the European Commission’s Directorate-General for International Partnerships (DG INTPA) November 2013 - Organised a one-day Workshop at the Hadco Experiences at Asa Wright Nature Centre to introduce companies to the drivers influencing the need for sustainability, provide updates, introduce standards and tools to help get them started. August 2023 - submitted the paper: Considerations for Budget 2024 - A Focus on the Investment Environment. 17th November 2022 – EUROCHAMTT presented on "the Presence of European Business in Trinidad and Tobago, Possibilities and Obstacles to Stronger Engagement’’ to a Mission of COLAC hosted by the Delegation of the European Union to Trinidad and Tobago. COLAC represents a structure in which all 27 Member State Governments of the European Union are represented with a delegate. In November 2021- we were contracted as part of a consortium that bid and won a tender for the management of an Innovation facility in Trinidad and Tobago, funded mainly by the EU. Under this project and contract and through the monthly newsletters, we can advocate for strengthening of the innovation eco systems in Trinidad and Tobago. Since 2018 we continue to monitor and advocate for implementation of the international tax agreements: Base Erosion and Profit Shifting (BEPS) standards and the OECS Global Forum on Transparency and Information Exchange for Tax Purposes. In a related matter and for further follow up, EUROCHAMTT plans to send another official correspondence to ask about the status of an outstanding Peer Review to determine whether Trinidad and Tobago will meet the technical requirements for the Global Forum on Transparency and Information Exchange for Tax Purposes compliance. May 2021 - Sustainable Fisheries Management–we prepared and circulated a position paper explaining the reasons Trinidad and Tobago could not export seafood and fish to the EU even though it exports fish to the USA and continue to mention the need for prioritising the legislation still in Parliament. Trinidad and Tobago has been pre-identified as a noncooperating State in the global fight against illegal, unreported and unregulated (IUU) fishing and was assigned a yellow card as a warning. The yellow card serves to highlight systemic problems with the management of Trinidad and Tobago's fisheries that has led to important fish stocks being overexploited or fully exploited. If Trinidad and Tobago does not make progress on the areas of deficiencies in national arrangements to combat illegal, unreported and unregulated fishing, the country faces listing as a noncooperating third country and would be assigned a red card in accordance with Article 33 of the EU Regulation 1005/2008 concerning the fight against illegal, unreported and unregulated fishing. March 2021 - EPA implementation– we continue to advocate at every opportunity. CARIFORUM Governments remain reluctant to implement reducing tariffs, article 16. Procurement legislation - - we continue to advocate for good governance.
Inter-institutional or Unofficial Groupings: Wine, spirit and foodstuffs

Head Office

Address: 18 O'Connor StreetWoodbrook
City: Port of Spain
Country: TRINIDAD AND TOBAGO
Phone: [object Object]

EU Office

Address: 18 O'Connor StreetWoodbrook
City: Port of Spain
Country: TRINIDAD AND TOBAGO
Phone: [object Object]

Financial Data

New Organisation: false
Closed Year: [object Object]
Current Year: [object Object]
Complementary Information: Annual costs related to activities covered by the register: EUROCHAMTT has a very small administration to carry out advocacy, trade, and information activities. There are no full time, salaried employees. All administrative work is performed under agreements and compensation based on a schedule of agreed fees (hourly rates) and time required. We also receive volunteer support from 7 Board members and other members. The administrative costs are generally covered from membership fees paid and some paid services and fundraising events. Estimated costs of work: Two major events per year at 5,000 Euro per event plus two position papers at 2,000 Euro per paper. In addition to this, EUROCHAMTT has the ability to manage projects. We are currently contracted under a Government project which is funded by the EU. EUROCHAMTT's Executive Director is also the project manager and is able to be paid appropriately via the project. Her additional time on EUROCHAMTT is either volunteer or compensated as described above.

Membership Information

Members10 Percent: 6
Members25 Percent: 0
Members50 Percent: 0
Members75 Percent: 0
Members: 6
Members F T E: 0.6000000238418579
Info Members: The day to day work of EUROCHAMTT is carried out by the Executive Director and Executive Assistant. Additionally, 1 accountant plus an outsourced accountant plus web designer support tasks to be carried out. Additionally there are 6 more Board members and 1 corporate secretary who may be pulled to carry out activies especially advocacy. In general - we try to get 5 to 6 members involved in providing feedback to position papers There are no fulltime employees. Everyone is either working on a voluntary basis or paid fees for service. The Executive Diretcor is paid professional fees for an associated EU funded project and executive assistant is paid from intenal fees.

Structure

Structure Type: Structure
Is Member Of: http://www.eurochamtt.org/membership.html
Organisation Members: EUROCHAMTT is a member of the EBO WORLD WIDE NETWORK ASBL – The Voice of European Business Abroad Website: www.ebowwn.com Facebook: https://www.facebook.com/www.eboworldwidenetwork.eu?ref=hl EUROCHAMTT is a member of the Trinidad and Tobago Coalition of Services Industry Website: https://ttcsi.org/ Facebook:https://www.facebook.com/TTCSI