China And Barbados To Strengthen Investment Ties

by Carla Johnson, Investors Offshore.com

15 January 2003

China and Barbados are keen to strengthen investment and trade ties still further, according to reports in the Barbadian media.

As one existing bilateral project - the $8 million Cheapside Market redevelopment - draws to a close, the state councillor of the Central Committee of the Communist Party of China, Madame Wu Yi revealed that China is looking for other investment opportunities in Barbados, and has a particular interest in the telecommunications, electronics, agriculture and tourism sectors.

According to reports, talks between Madame Wu, who headed a 40-strong delegation of Chinese business people to the jurisdiction, and Barbadian Prime Minister, Owen Arthur centred on possibilities for the preferential treatment of small island economies and the progress of the Caribbean Single Market and Economy.

Prime Minister Arthur announced that he welcomes the possibility of further Chinese involvement in the development of the Barbadian economy, observing that: 'The possibility for a strong economic relationship should not be missed. My government supports public/private sector partnerships, and we would greatly welcome China's investment in this area.'

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