Port of Spain a shopping and business centre for much of the country. Most government offices are also located in the city and many important government services can only be accessed in the Ministry offices located downtown. Within recent years, local banks headquartered here have helped it become a financial centre for the Caribbean and Central America region. Two of the largest banks in the Caribbean, Republic Bank, Trinidad and Tobago Limited and Royal Bank of Trinidad and Tobago (RBTT, reacquired by the Royal Bank in 2008) are headquartered here or base their Caribbean operations in the city. Trinidad's economy is based on
Port of Spain east with an estimated population of 600,000. The city serves primarily as a retail and administrative centre and it has been the capital of the island since 1757. It is also an important financial services centre for the Caribbean and is home to two of the largest banks in the region. Port of Spain was also the "de facto" capital of the short-lived West Indies Federation, which united the Caribbean. Caricom was established in Chaguaramas, west of Port of Spain. The city is also home to the largest container port on the island and is one of several shipping hubs