Contributed by Peter Lowitt, based on an article from Oxford Business Group, February 2017
The island of Tobago is also looking to further develop the value-added components of its agriculture sector. For example, at the Cove Eco-Industrial and Business Park – a 57-ha site operated by private firm Eco-Industrial Development Company of Tobago – one area will be dedicated specifically to agro-processing and light manufacturing.
While the limited scale of agricultural production may constrain the volume of agro-processing for the small twin-island nation, there is potential to develop a range of niche products for both local and export markets. One example is green peppers, which are grown widely in the country. If supplies of the pepper can be expanded, industry players say T&T has potential to break into the overseas market for specialised food items, especially in areas with a sizeable Caribbean expatriate community, such as Canada.
According to the World Bank, there are roughly as many Caribbean diaspora members living in North America and Europe as in the region as a whole, indicating significant untapped potential for specialty goods.