EXPORTS from Associated Brands Industries Ltd accounted for over 16% of Trinidad and Tobago’s total Food and Beverage export value for 2023, Trade and Industry Minister Paula Gopee-Scoon has said.
And according to the minister, Associated Brands had a key role in this country’s Food and Beverage exports growing by 49% between 2015 and 2023 from $2.1 billion to $3.2 billion.
Gopee-Scoon made the statements as she delivered the feature address at Associated Brands 50th anniversary celebration gala held at the Hyatt Regency on Saturday evening.
“From simple beginnings to a modern enterprise that boasts a truly international reach, Associated Brands has become a regional powerhouse. It stands as one of the largest exporters in Trinidad and Tobago’s Food and Beverage sector, with a range of products and brands that are sold in over 30 countries across the globe, including the Caribbean (the largest market), North America, Europe and Asia,” Gopee-Scoon stated.
“Its exports in 2023 represented over 16% of the total value of this country’s Food and Beverage exports for that year, running into the hundreds of millions. This is a remarkable feat and one that could only be achieved through leadership and an unwavering commitment to innovation and growth,” she said.
Gopee-Scoon said 50 years is quite an achievement for any firm, more so for one in the ultra-competitive industry of snack foods, confectionery, biscuits and cereals.
She also lauded Associated Brands for its employment of 1,700 people locally.
“The Group operates manufacturing facilities here at home, Malta and Colombia, as well as distribution companies across the Caribbean, Central and North America. Despite the intense focus on expanding extra-regionally, exports from Trinidad and Tobago still account for over two-thirds of total sales. This underscores the company’s commitment to Trinidad and Tobago and sends a clear signal that, despite our challenges, we remain a viable location for world-class manufacturer,” she said.
Gopee-Scoon said a key part of Associated Brands’ ability to grow and prosper has been its ability to “adapt to new health and consumer trends, to keep prices affordable, and to match the diversity of international brands, while using local ingredients and its own innovative touch.”
“With competition from multinationals such as Kellogg, General Mills, Post, Nestle, Hersheys, Mars, Kraft Foods and PepsiCo to name a few, Associated Brands has held its own, and flourished, creating new, healthier products and revitalising old ones,” she stated.
“Zelish, one of the Group’s latest products is made from 100% natural peas and pulses, vegan, cholesterol-free, dairy-free and has no trans-fat. Catch, on the other hand is an old favourite that is still catching on. A couple days ago, I was taken aback with my granddaughter’s Halloween’s candy and chocolate stash—not only was it half her weight, but the local brands were more numerous as the foreign ones. I was pleased to know that despite the strong influence of North American culture, we are still holding our own,” Gopee-Scoon said.
Gopee-Scoon said that beyond his contribution in the private sector, Associated Brands’ founder Arthur Lok Jack has offered yeoman service to the people of Trinidad and Tobago.
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Publish date : 2024-11-03 13:00:00
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Author : theamericannews
Publish date : 2024-11-04 08:34:56
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