Sino-Caribbean Links Strengthened
September 10, 2003
By Angela Lehmann & Jean Chen
Photo by Yao Fan
The economic and cultural bonds
between
China and the Caribbean were strengthened on Tuesday at a milestone
meeting held as part of the CIFIT's Caribbean Day.
Vice Premier of China, Wu Yi, joined delegates from the eight Caribbean
nations who have established diplomatic relations with China- Guyana,
Jamaica, Trinidad and Tobago, Suriname, Barbados and Antigua and
Barbuda.
Since the 1970s these nations and China have co-operated within
political, cultural and economic spheres. Last year a nine-point
proposal was put forward to strengthen Sino-Caribbean relations
stimulating closer contact and dialogue, broader economic exchanges and
greater mutual investment. According to Chinese statistics, total trade
between the Caribbean and China from January to July this year reached
US$218 million- up by 31 per cent over the same period last year.
The delegates from both China and the Caribbean stressed the
similarities they share. "China and the eight Caribbean countries are
all developing. Therefore, further strengthening and deepening
bilateral economic and trade exchanges and co-operation is in the
fundamental interests of us all," Vice Premier Wu Yi said.
Gaston Brown, Minister of Planning, Trade, Industry, Commerce and
Public Service Affairs in Antigua and Barbuda, also stressed the
importance of relationships between developing countries. "Developing
countries should share in global trade. We need to create strategic
partnerships in order to increase our core competencies. Therefore the
creation of people to people links is vital."
Chinese investment in the Caribbean was seen as not only a way to build
these links but also to aid China in diversifying its economy through
foreign direct investment.
"Traditionally investment in the Caribbean has come from the West. The
tourism industry attracts rich, western tourists. But we would like to
invite our Asian friends to benefit from investment in our country,"
Brown said. "The development of an Asian presence in the Caribbean
could benefit both of us."
Representing the government of Saint Lucia, Leo Titus Preville, gave an
animated speech about the importance of defining economic parameters in
terms of humanity and the values and principles that govern society.
The speakers described the investment opportunities available on their
Caribbean islands. Most importantly, investment was called for within
the tourism industry, which accounts for 60 per cent of the annual GDP
in the area. Other important sectors seeking investors included
information and communication technology, manufacturing , agriculture
and fishing.
The visit by the Caribbean delegation was part of their government's
efforts to forge an economic growth path after the area suffered from
the after-shocks of September 11th 2001. Increased Chinese investment
in the area was seen as both a means to increase foreign direct
investment to the region and as a way to benefit China's drive outwards
as both countries establish themselves within a globalised marketplace.