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
Rafael Cordero Santiago Port of the Americas and impact on local economies. These studies revealed the need for a large transshipment port in the Caribbean region to facilitate distribution from the emerging markets in Asia and the US west coast to the eastern coasts of North, Central and South America. The government also found that Puerto Rico had several advantages over its Caribbean competitors, which included first-class infrastructure (such as highways and several airports), strong economic and political ties with the United States, and the island’s close proximity to the Mona Passage (a large and deep channel between Puerto Rico and the Dominican Republic through which most