While Prime Minister Kamla Persad-Bissessar and Venezuelan President Nicolas Maduro have agreed to barter goods, trade in Cedros has already increased over the past few months. With Venezuela’s deepening economic crisis, officials from the Immigration Division, Customs and Excise Division and shop owners said more Venezuelans are flocking to T&T for items, such as milk, diapers, flour and laundry detergent, to take back to their country which has been suffering from a shortage of basic commodities.
Cedros, which is T&T’s closest legal entry point from South America, recorded 424 people arriving at the port last month as opposed to 211 last December. He said the arrivals for this month were almost the same as last month. Immigration Officer Keith Lewis said there were only a few arrivals that were locals returning from Venezuela.
He said the majority of Venezuelans came to buy items in T&T because of high inflation there. “Most of them would come and buy onions, garlic, diapers and toilet paper. “They said things are hard in Venezuela and that goods are cheaper and more available here. “All foreign vessels that come to south Trinidad come through Cedros.
Sometimes three to four boats come daily with people coming to shop and take back goods while a few of them visit family members. “Some shop owners and boat owners take orders from people across there and transport it to them,” Lewis added. Customs and Excise officials said the visitors come from the costal towns of Tucupita, Perdinade and La Guaira aboard pirogues.
For the Carnival weekend, they recorded 180 arrivals. An officer said most visitors stay at relatives’ homes, who are locals. He said that there was a ferry service but that has been out of commission since last August. Keron Guy, a supervisor at Cedros Hardware and Grocery, said most Venezuelans buy goods from them as they are located several 100 metres from the port.
He said they came to the village to buy basic items. He said the increase in visitors had been good for business. President of the Icacos Fishing Association Esook Ali said it was a risk for some buyers as many of them have their good seized by Guardia Nacional upon entry to Venezuela. He said that the low value of Venezuelan currency was the reason why no one had taken the opportunity to set up extra business to cater for Venezuelan customers.
TRAFFIC AT CEDROS PORT
Oct 14 Nov 14 Dec 14 Jan 15
Vessels arriving.....................................50...............49 ............50..............57
Vessels departing ................................54...............46 ............49..............53
Passengers/Crew arriving ..........242............269...........211...........424
Passengers/Crew departing ......187.............183 ..........196 ...........391
VENEZUELAN CRISIS
A petroleum dependant country like T&T, Venezuela has been hit with a recession since the sharp decrease in the price of oil and gas. Figures released by the country’s central bank showed the economy decline by 2.3 per cent in the third quarter of last year and inflation had reached 63.6 per cent, one of the highest rates in the world.
Unrest broke out in the country because of high levels of violence, inflation and shortages of basic goods, including toilet paper. On Tuesday, T&T and Venezuela entered into an agreement which would see the Government purchasing goods identified as essential to Venezuela and exporting it to that country.
In return, they would provide petroleum products to T&T. In an immediate response to the agreement, Downtown Owners and Merchants Association (DOMA) president Gregory Aboud warned Government about bartering with Venezuela, due the financial state of the country and its failed economic model.