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October 8, 2014

Trade Relations Between the Caribbean and China are Strengthened


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The Caribbean Export Development Agency (Caribbean Export) supported a contingent of representatives from four (4) of the Region’s Business Support Organisations (BSOs) to participate in the 8th China LAC Business Summit that was held in Changsha, China between September 12-13, 2014.

The mission to China led by the Honourable Minister Donville Inniss, Minister of Industry, International Business, Commerce and Small Business Development for Barbados sought to build relations, discover new potential trading partners and promote the Caribbean for viable investment opportunities.  Speaking at the China LAC Summit, Minister Inniss noted that the areas for future cooperation between China and the Caribbean included financial services, logistics, tourism and hotel development, agribusiness and infrastructure development.

The participation of these BSOs that included JAMPRO, InvestSVG, The Barbados Chamber of Commerce and Industry and the Chamber of Commerce of Haiti, is an important step towards not only strengthening the capacity of the BSOs to understand the ChiChina LAC1nese market but also to enable the BSOs to work with the regions private sector to strategically target and penetrate the Chinese for exports and investments.

The Caribbean delegates also took the opportunity to further discussions with the Tianjin authorities and business groups on investment and prospects for future trading relations. Meetings with the China Ministry of Commerce, and in particular the International Trade Development Bureau, enabled the discussion on the support that could be offered to the Caribbean allowing for increased access of Caribbean products into the Chinese market.  In addition talks with the China Development Bank led to enlightenment as to how the Caribbean could access available resources in China earmarked for infrastructure development, as well as commercially viable projects in the Caribbean.

Another key meeting that was held during the mission was with ChinaGoAbroad whose members-only platform provides information and connections for Chinese companies as well as their global counterparts seeking international business partners, investment opportunities and joint ventures in a variety of sectors. Future collaboration with these partners will be led by Caribbean Export as the Agency seeks to strategically position the region for trade and investments from China.

The Summit acts as a promotion mechanism and platform for economic & trade cooperation between China and Latin America & the Caribbean and is managed by the China Council for the Promotion of International Trade (CCPIT). The event promotes policy dialogue at the government level, but also promotes Chinese investments in Latin America and Caribbean markets.

Continue reading “Trade Relations Between the Caribbean and China are Strengthened”

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BELTRAIDE’s Latest Investment Magazine Centers on Agribusiness


Written by By Shane D. Williams
Thursday, 02 October 2014 00:00
beltraide.jpg - 77.50 KbIn 2013, the Belize Trade and Investment Development Service launched the magazine “Invest Belize” in an effort to promote its initiatives and highlight the investment opportunities available in Belize. On Tuesday, September 30, BELTRAIDE unveiled Invest Belize Volume 3 which is concentrating on opportunities available in the agribusiness sector.

Invest Belize Volume 1 focused on offshore business outsourcing and Volume 2 was centered on tourism development. Mike Singh, Chief Executive Officer in the Ministry of Trade, says this edition may be the best yet. BELTRAIDE selected McNab Publishing Limited for Invest Belize Volume 3. McNab has a track record of producing exceptional pieces such as the Flavours of Belize Cookbook, Belize Travel Guide and the Inspirational Calendar. Singh says he is extremely proud of the quality of articles in the magazine: “We are getting articles written by very senior people in government and very qualified people in the private sector.”

Agriculture has always been a key pillar of the Belizean economy and that will not change anytime soon, according to Singh. He says when you look at the investment in sugar by Sartander and the American Sugar Refining (ASR) it is likely that production will more than double in the next three years. Singh says grain production is increasing by almost 50 percent annually and large scale exportation is inevitable.

As the world continues to battle food shortage and world hunger, Belize’s role as a bread basket in this region will continue to evolve. The magazine is available at BELTRAIDE’s website (belizeinvest.org.bz).

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