Trade Minister calls for collaboration and support for women in business
Paula Gopee-Scoon, Minister of Trade and Industry, says there needs to be more support for female entrepreneurs in this country.
During her Remarks at the virtual launch of the Caribbean Women in Trade (CWIT) on Thursday, 18 May 2023, Minister Gopee Scoon said, “Supporting female entrepreneurs through community, network, and education will result in more women participating in international trade and open new economic opportunities for other women, which translates into greater productivity and competitiveness for businesses, gender parity, overall economic growth and improved livelihoods for all.”
The CWIT is a newly formed non-governmental organisation (2020) based in Curacao.
The Trade Minister lauded the organisation for its mission to foster a community that supports the advancement of Caribbean women in international trade through creating a networking and collaborative platform and advocating on their behalf for the advancement of their concerns and resolution of challenges affecting them.
The Minister explained that according to the International Trade Centre (ITC), women own and lead approximately 30 percent of all small and medium enterprises (SME) worldwide, and SMEs account for roughly 70 percent of employment worldwide. It is estimated that advancing gender equality can add nearly $12 trillion to the global GDP by 2025; therefore, an initiative such as this is timely and relevant.”
She also noted that the Ministry of Trade and Industry’s Trinidad and Tobago Trade Policy 2019-2023 speaks to identifying, understanding and removing obstacles to allow for the full participation of women in the development of trade.
The Minister also highlighted the Trinidad and Tobago SheTrades Hub, an initiative between the ITC and the MTI, which began in 2020 is centred on empowering women engaging in international trade and creating a women-inclusive fairer business ecosystem. The Minister also called for more collaboration among entities toward achieving the same goals.
“I would like to encourage all stakeholders–private and public as well as the various agencies throughout the Caribbean–working in this area to collaborate closely to create synergies and avoid duplication of efforts, which will result in more meaningful and sustainable opportunities for our female entrepreneurs in the Caribbean region,” she said.
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