Port of Spain of the Caribbean, exporting both agricultural products and manufactured goods. Bauxite from Guyana is trans-shipped via facilities at Chaguaramas, about west of the city. The pre-lenten Carnival is the city's main annual cultural festival and tourist attraction. Today, Port of Spain is a leading city in the Caribbean region. Trinidad and Tobago hosted the Fifth Summit of the Americas in 2009 whose guests included US President Barack Obama and US Secretary of State Hillary Clinton. Port of Spain is also home to the biggest and most successful stock exchange in the Caribbean, the Trinidad and Tobago Stock Exchange (TTSE). The
Piracy in the Caribbean Spanish garrisons. In these cities European manufactured goods could command premium prices for sale to the colonists, while the trade goods of the New World—tobacco, cocoa and other raw materials, were shipped back to Europe. By 1600, Porto Bello had replaced Nombre de Dios (where Sir Francis Drake had first attacked a Spanish settlement) as the Isthmus of Panama's Caribbean port for the Spanish Silver Train and the annual treasure fleet. Veracruz, the only port city open to trans-Atlantic trade in New Spain, continued to serve the vast interior of New Spain as its window on the Caribbean. By the