New Trade Minister Kama Maharaj gets thumbs-up from businesses

NEWLY appointed Trade, Investment and Tourism Minister Satykama “Kama” Maharaj said his focus will be on diversifying the economy beyond oil and gas; expanding trade and exports; strengthening local manufacturing; driving investment and innovation and positioning tourism as a pillar of economic growth.

Maharaj, who was sworn in at President’s House, Port of Spain on May 7, is the founder of Sacha Cosmetics, which has been in business for 45 years. In a post on his Facebook page, Maharaj said he did not take the responsibility of being appointed minister lightly.

He was one of two final appointments to Persad-Bissessar's government with the other being PEP leader Phillip Edward Alexander who has been appointed a minister in the Ministry of Housing.

“It represents the culmination of more than 45 years of hands-on experience building, learning and leading. As the founder of Sacha Cosmetics, I've had the privilege of transforming a simple idea into a world-class brand.

"From developing inclusive products like our Amazon best-seller Buttercup Powder to navigating global exports, e-commerce, and international supply chains, every challenge has been a lesson. I now bring those lessons into national service.”

He called on the public to build a stronger, more diversified and resilient TT together.

Speaking to reporters following the swearing in ceremony, Maharaj said his first step would be to meet with his team in the ministry to determine a way forward.

“We have a fairly good idea of how we’re going to hit the ground running. We don’t have the luxury of time. I am by nature an action-oriented person, so there won’t be too much analysis-paralysis.”

He said two of the issues he would be addressing urgently are foreign exchange and the ease of doing business. He said he had very clear ideas on how these issues should be addressed.

Maharaj said the combination of the two ministries (formerly trade and industry, and tourism, culture and the arts) was geared towards an overarching objective of diversifying the economy.

“You want to diversify the economy with the manufacturing sector, investment and make tourism a major pillar of diversification, so it’s in the right place in my humble opinion.

“I don’t know yet what will happen to the staff of the tourism ministry. I would not want them to lose their jobs. I haven’t gone in yet to see what the situation is.”

He said he had started Sacha Cosmetics in his kitchen 45 years ago and it was now being sold in 50 countries.

“We have a product on Amazon with 10,000 five-star reviews. From the moment Amazon shifted from being a pure bookseller we were selling on Amazon. We’re the pioneers of e-commerce, so we bring a lot to the table. It’s a very unusual combination of strengths that almost nobody in the industry has.

“After 45 years in business, I know all the problems. I was awarded Entrepreneur of the Year by the TT Manufacturers Association and the TT Chamber of Industry and Commerce. I was also inducted into the World Entrepreneur of the Year Hall of Fame in Monte Carlo. That was a tremendous experience, so we do have international experience and exposure.”

He said he was looking forward to meeting with the business community.

Maharaj said his experience had given him opportunities to travel and he had seen there were many opportunities to leverage tourism as a powerful pillar of diversification. He said Tobago will play an important role and there were also opportunities for medical, sport and business tourism.

Maharaj said opening markets for manufacturers was important for TT. He said while it was important to continue exporting to Caricom, it was a small market and there were also challenges in doing business in Latin America. He said it was important to explore exportation of goods to the African continent.

““I went on a trade mission to Ghana, and as I walked up to immigration, the officer looked at my passport and stamped it and said, “Welcome home, sir.” They want to do business with us, and we should be focused there. West Africa is 470 million people. Republic Bank has 42 branches in Ghana; they have a base over there. But it takes two days to get to Ghana, but the big Airbus can go in eight hours, straight across. If you cannot visit, you cannot do business. So, we have to open that market and negotiate.

“They have a similar agreement like Caricom over there, I don’t know the name, but Caricom should be forging a duty-free agreement with them. We will have to open factories all over the place to manufacture for that market.”

He said the issue of tariffs being levied by the US was a fluid one, and no-one could yet see how it would affect TT.

“Different industries will have different challenges but there are always opportunities in any macro-economic situation like this, there are opportunities that could be exploited, and we are looking at it. I don’t think we should take it as a negative, we should look and see what opportunities arise out of it.”

Maharaj said a week ago, he had not even thought about serving in government, but he saw it as an opportunity to give back to the nation.

“Sacha Cosmetics is now run by my son, and I had the time. I have a mentorship group on Facebook. It’s the highest engagement rate in any Facebook group, Young Entrepreneurs TT, so I’ve been mentoring and making a contribution, and this is an opportunity to do something even larger for the country.”

Maharaj was a member of the NAR in the 1980s and ran as a UNC candidate for San Fernando West in the 1995 snap general elections.

Business leaders happy with appointment

Newsday spoke to several business chambers and organisations who said they approved of Maharaj’s appointment. They said they looked forward to meeting with him.

TT Manufacturers Association president Dale Parson said he was happy that the Prime Minister had appointed someone from the private sector manufacturing industry.

“He will be able to understand and work with the manufacturers in the non-energy sector to be able to help and foster non-energy manufacturing and trade. He understands the plight of the manufacturers and traders in the current environment. He can help us navigate the geopolitical issues we’re facing imposed by the US and get our products into the US.”

He said manufacturers needed help with the bureaucracy involved in getting licences to import raw materials on time, reducing payment of rent and demurrage; and assistance with regularising issues at the Port of Port of Spain and the Port of Pt Lisas.

Parson said the TTMA wanted to establish TT as the manufacturing hub of the Caribbean. He said it would welcome assistance in building a Caribbean Trade and Convention Centre, where it would host the TIC Trade and Convention Conference as well as other conferences throughout the year.

TT Chamber of Industry and Commerce president Sonji Pierre-Chase said the appointment was a welcomed one.

“He has the insight that can take the country forward. We would like to see him continue some of the initiatives we were discussing with the previous administration as it relates to the ease of doing business. We have a good working relationship with the permanent secretary and technical team at the ministry, and I think it will be a continuation of that collaboration.”

She thanked Maharaj for taking up the call to serve, as she said it was rare that people from the private sector served in the public domain.

TT Coalition of Service Industries (TTCSI) president Dianne Joseph said Maharaj was an excellent fit for the position due to his creation and expansion of Sacha Cosmetics internationally.

“He was able to settle this brand into a name that is well-known. With that experience, we believe he is going to add the same value to trade and the services sector in TT. The board of directors of TTCSI is willing to collaborate with him in the interests or expanding the services sector in TT.”

In a release, TTCSI said as the national umbrella organization representing the services sector, it is eager to engage with the new minister on initiatives that drive digital transformation, professional services exports, and stronger public-private sector partnerships.

Greater San Fernando Area Chamber of Commerce Kiran Singh said Maharaj was well suited for the job as he had gained several accolades through his entrepreneurship.

“He’s always been pro-active for business and versatile in his comments on business in the region. We need a businessman to deal with business. The economy is facing several challenges and his direct involvement in business will augur well for the business community in terms of how he can deliver.

“We expect that, given his background, that he would know the challenges with foreign exchange and ease of doing business, which continue to plague us. He has firsthand experience in what we face as businesspeople, and we expect he will be able to address these things in a more aggressive manner for the TT economy.”

Singh said tourism and investment need to be addressed in a more progressive manner to generate needed foreign exchange.

“We have been advocating for longer opening hours for ports of entry for trade. Customs operations need to be revamped. The cruise ship and yachting industries are easy targets that can start the diversification process to bring in foreign exchange, especially as the winter season approaches.”

Couva Chamber of Industry and Commerce Deoraj Mahase said Maharaj would be able to assist with growing businesses towards earning foreign exchange.

“He will be able to provide guidance with the help of the team of people at the ministry. We will be reaching out to him as well as other ministers involved in the business field. We understand as this is a transitional time we have to wait to have meetings to put our views to the ministers, representing the business community.

“We expect he will continue with the groundwork that was there to encourage small and medium businesses to manufacture products that can be exported to the global market and assisting in gaining foreign exchange.”

The TT Scrap Iron Dealers said it welcomed the appointment of Maharaj to the ministerial position, as well as that of Colin Gosine as parliamentary secretary.

“Just as we worked tirelessly with past ministers under different governments, we pledge our commitment and support to working with Mr Maharaj and his team in the best interest of our industry and the country. There are still many issues that continue to plague our industry, and we are hoping to meet with the new minister and his team to have these issues resolved in the shortest possible time. We look forward to fruitful discussions and positive results in the coming weeks.”