Guernsey Delegation Set For India, China

by Jason Gorringe, Tax-News.com, London

02 August 2010

Delegations of politicians, officials and business leaders from Guernsey will be visiting both India and China during the second half of the year to enhance financial services links between the jurisdictions, Guernsey Finance – the promotional agency for the island’s financial industry - has announced.

Carla McNulty Bauer, Minister for the Commerce and Employment Department, is to lead the delegation in Delhi and then in Mumbai during the six day trip starting on October 18. Lyndon Trott, the island’s Chief Minister, will then lead a delegation to Beijing and Shanghai at the start of November.

The visits will include governmental engagements, meetings with regulators, industry associations and leading business introducers, as well as a series of networking opportunities through specific Guernsey events.

Guernsey Finance Chief Executive Peter Niven will also be joining the Lord Mayor of London, Alderman Nick Anstee, who recently visited Guernsey, during his visit to Beijing and Shanghai in September. In addition, Niven will be leading Guernsey trade delegations to wealth management and investment fund conferences in Hong Kong during November and another investment fund conference in India at the start of December.

Guernsey established a representative office in China more than two and a half years ago but the visits to India represent the Island’s first official marketing activity in the country.

Commenting on the marketing drive, Niven stated: “Guernsey’s finance industry is continuing to perform well but we are increasingly facing new challenges – including stronger competition from other jurisdictions – so it is important that we do not stand still. The island needs to make sure that it maintains its profile in centres such as London, which remains the island’s principal source of new business and indeed the UK more widely, while also developing relationships in emerging markets such as China and India. The multiple visits during the coming months will enhance relationships with the government, regulators, professional associations and individual companies, providing the island’s firms with a smoother path for doing business in those countries. The importance of meeting key decision makers on a one-to-one basis cannot be underestimated.”

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