Larry’s View

Larry’s view on any and everything.

China and caribbean

The relationship between the Caribbean islands and China is growing in the recent years and the economic and trade co-operation forums have boosted the trade relations between the two countries. There are regular meetings being conducted between the Chinese and the Caribbean states foreign ministry on strengthening the economic, political and cultural relationships and for reconciling the earlier signed trade agreements as well. In the year 2006, the Dominican Republic and other Caribbean states had more trade with China than with Taiwan and this shows the growing influence of China in the Caribbean economy. Some of the major fields of trade between the two countries were construction equipments, automobiles like motor cycles and home appliances.

China has helped the government of Trinidad and Tobago in setting up three steel manufacturing plants in the year 2005. The bilateral trade co-operation between the two countries has great prospects and the focus is on finance, transportation, agriculture and tourism. Caribbean countries are great sources of minerals and fishery products and China is benefitting from the bilateral ties in procuring these items from the Caribbean. To attract more investments from China, some countries in the Caribbean region are changing their policies to improve the environment for investments. There has been a huge increase in the interest shown by Chinese business groups and investors to take advantage of the changing policies of the Caribbean markets.

The new Queen’s Park Cricket Stadium in Grenada, built by the Chinese government by providing finance and workers is a testimony of the strong relationship between the Chinese government and the Caribbean states governments. There have been a record number of delegates who had attended the China- Caribbean Trade and Economic Forum held in the year 2005 and they represented pharmaceutical, machinery, textile, construction, telecommunication, transportation and financial fields. The China Council for the Promotion of International Trade, the largest investment and trade promotion organization seen in China, has made ties with Caribbean trade organizations to facilitate closer co-operation between the countries.

The economists in the two countries are on the hope that Jamaica could be the hub of trade connections between the two as it is located between South, Central and North America and Jamaica is going all out in providing all the necessary facelift to the Kingston port so as to handle the trade needs that may arise in the near future. At present there is a healthy trade relationship between the two countries that is expanding day by day.


January 10, 2008 - Posted by | Blogroll, The Caribbean

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