02/11/2012 (Bernama) - The Malaysia External Trade Development Corporation (Matrade) is encouraging Malaysian exporters to look to the twin-island republic of Trinidad and Tobago for business opportunities.

The nation depends largely on imported foodstuffs with a growing demand for processed and convenience foods with supermarket chains increasingly importing directly from foreign private label manufacturers.

Malaysian products including ready-to-eat meals, snacks, juices, coconut milk powder and canned foods are among sought-after products.

Others with excellent prospects are halal food including halal raw materials such as gelatine, colourings and emulsifiers.

Matrade Miami Trade Commissioner Jonathan Rao said Trinidad and Tobago positions itself as a gateway to the smaller Carribean islands and a distribution centre to the Americas.

"It will continue to draw increasing numbers of foreign professionals and expatriates as well as tourists, leading to increasing demand for products and services as well as food and beverages and healthcare franchises," he said in a statement today.

Currently Malaysia is the third largest exporter to the Caribbean after Haiti and Puerto Rico.

Malaysia's exports to Trinidad and Tobago totalled RM53.4 million for the first eight months of 2012 with major exports being palm oil, processed food, wood products, electrical and electronics, manufactures of metal and manufactures of plastics.

Trinidad and Tobago has a fairly high vehicle ownership of 45 vehicles per 100 people with tremendous potential for the supply of automotive parts, new pneumatic tyres and accessories.

Total imports of these products amounted to US$31.19 million in 2010.

Infrastructure development projects including expansion of the international airport, construction of new highways and roads and a city centre monorail are also underway.

Some of these require contractors to provide their own finance, labour and materials and assume all operational risks.

Joint-venture partnerships are recommended for Malaysian companies.