Six Work Pillars
The DTIFC’s mandate is grounded on six (6) major pillars, namely:
- Trade Negotiations: The DTIFC is responsible for leading trade negotiations with key trading partners to reduce or, as appropriate, eliminate tariffs, non-tariff barriers (NTBs), and other trade restrictions on goods and services of interest to Turks and Caicos Islands (TCI). This is to ensure that the TCI maintains and secures access to the markets of its trading partners under the most favourable terms.
- Trade Promotion: The DTIFC is responsible for assisting importers, exporters, and MSMEs in a variety of industries to source supplies, as well as to market their goods and services in the domestic and overseas markets.
- Trade Facilitation: The DTIFC is responsible for working with key stakeholders to ensure that regulatory procedures are simplified, modernized, and harmonized to support the free movement of goods on the domestic market as well as across national borders.
- Trade-Related Technical Assistance: The DTIFC is responsible for assisting the TCI business sector with building their trade capacity so that they can participate more effectively in domestic and global trade.
- Trade Policy Legislation: The DTIFC is responsible for reviewing existing trade legislation and drafting new trade legislation geared towards the growth and improvement of trade and business in the Turks and Caicos Islands. The aim is to create a well-functioning economic environment conducive to enterprise development, increased trade and investment, and improved consumer welfare.
- Trade Analysis: The DTIFC is responsible for analyzing bilateral, regional, and multilateral trade flows to influence government policy/ sectoral studies/individual product studies.