In the wake of Navin Dookeran’s abrupt termination as CEO of Eximbank, Trinidad and Tobago’s business chambers are urgently calling for fundamental reforms in foreign exchange allocation policies. The newly appointed board, chaired by Edwin Chariah with Suresh Maharaj as deputy chairman, now faces mounting pressure to establish more equitable distribution mechanisms that serve a broader spectrum of the business community.
Vivek Charran, President of the Confederation of Regional Business Chambers, emphasized the critical nature of this transition: ‘Our primary concern is ensuring this new administration develops a fair and balanced approach to forex distribution for our most vulnerable enterprises. We’re discussing generational family businesses and retail SMEs that are fundamentally fighting for survival.’
The business community’s consensus reveals deep-seated frustrations with the previous system’s limitations. Ramon Gregorio of the Greater Tunapuna Chamber of Industry and Commerce noted the essential balancing act required: ‘This is about reconciling the needs of large manufacturers with enabling SMEs to develop into larger organizations. Achieving proper equity and balance remains our central advocacy point.’
Baldath Maharaj of the Chaguanas Chamber of Industry and Commerce stressed the institutional requirements for effective reform: ‘Our chamber consistently emphasizes fairness, predictability, and transparency in allocation processes. Whatever strategic direction emerges, businesses must have confidence in an equitable and accessible system—this stability is indispensable for investment, growth, and national development.’
The chambers collectively expressed hope that the new directorship would expand forex allocation policies beyond the manufacturing sector to include goods and services industries frequently excluded from the equation. Gregorio added, ‘We urgently need a holistic approach that addresses the distinct challenges all sectors face in securing foreign exchange.’
Despite understanding the underlying forex shortages and national challenges, business leaders highlighted the practical realities: many retailers and manufacturers depend on Eximbank’s window to maintain operations, meet payroll obligations, and settle long-pending foreign supplier invoices. Charran revealed that during previous meetings with bank officials and former Finance Minister Colm Imbert, chambers were explicitly told no forex was available despite the operating window—with indications that stricter controls might be implemented.
Regarding leadership transition, chambers expressed confidence in the board’s diligence in selecting a replacement CEO while emphasizing the need for continuity. Maharaj noted, ‘History demonstrates that leadership transitions involve adjustment periods. We need a CEO with substantial expertise in export development and manufacturing who can maintain operational continuity while addressing the immediate needs of the business community.’
Dookeran, when contacted for comment, referred to a previous article expressing pride in his accomplishments since his 2019 appointment but declined further statement. The business community’s unified message remains clear: systemic reform, not personnel changes, represents the true path toward resolving Trinidad and Tobago’s foreign exchange distribution challenges.