WISAR Updates

We are open from 8.30am to 5pm, Mon to Fri and Sat from 8.30 to 4pm. Social distancing rules apply. No mask, no entry.

Minister: Scrap iron industry viable sector to T&T’s diversification

Trade and Industry Minister Paula Gopee-Scoon welcomes Allan Ferguson, president of the Trinidad and Tobago Scrap Iron Dealers Association at the meeting.

Trade and Industry Minister Paula Gopee-Scoon has given the T&T Scrap Iron Dealers Association (TTSIDA) the commitment that her ministry will facilitate on going collaboration to ensure the growth and development of the sector.

She and senior officials of the ministry met president of the Trinidad and Tobago Scrap Iron Dealers Association (TTSIDA) and executive members at her Nicholas Tower office in Port-of-Spain to discuss key issues in the local scrap metal iIndustry.

Gopee-Scoon reiterated the economic importance of the scrap metal industry to T&T and commended Ferguson on his stewardship of the association.

During the meeting, both organisations agreed on a way forward for the further development of the industry.

The global scrap metal industry has been growing at a rapid rate over the past decade.

Internationally, the industry contributes over US $65 billion to global GDP. The growth and impact of this Industry globally has also been reflected domestically as the industry is now an important contributor to economic activity.

According to figures provided by T&T’s Central Statistical Office (CSO), scrap metal exports escalated from approximately TT $69 million in 2009 to an estimated TT$ 216 millionn in 2018, registering an increase of over 213 per cent over a 10-year period.

Source Guardian

Leave a Reply

Your email address will not be published. Required fields are marked *