Open the door!

China ready to deepen its regional partnership, says Chinese envoy

With Barbados and other Caribbean countries facing severe challenges, economic powerhouse China says it is both ready and willing to help regional states get back on course to sustained growth.

However, Chinese Ambassador to Barbados Wang Ke made it clear today that any new economic partnership must amount to a “win-win”, while reiterating Beijing’s commitment to expanding bilateral financial cooperation “with friendly Caribbean countries”, as well as with regional financial institutions.

“China is working on building new international relations based on cooperation and mutual benefits, and stands ready to strengthen win-win cooperation with the Caribbean countries,” the Chinese envoy told participants in the seminar hosted by the Caribbean Development Bank (CDB) at the Barbados Hilton Resort.

The seminar is looking specifically at opportunities for trade, aid and investment of the Chinese currency, the Renminbi (RMB), in the Caribbean.

Wang Ke and Dr Warren Smith

In this regard, Wang Ke said China was ready “to promote exchanges and dialogues with the Caribbean to help regional financial and monetary institutions better understand China’s financial policies and RMB products and to discuss the feasibility of the methods on how RMB business can operate in the Caribbean and benefit expansion of mutual beneficial cooperation on trade, aid and investment.

“Ladies and gentlemen, when opportunity knocks please open the door,” she added.

China already has membership in the CDB, in which it holds about 5.6 per cent or 16,588 ordinary shares. As a non-borrowing member, it has contributed in excess of US$48 million to the CDB’s Special Development Fund and has pledged over US$6 million to the Fund’s 9th replenishment cycle, which runs from 2017 until 2020.

In welcoming participants to today’s seminar, CDB President Dr Warren Smith noted that the event was taking place at a time when the ability of many Caribbean countries to engage in international trade and financial services was being undermined by the withdrawal of correspondent banking services by North American and European financial institutions, adding that “an urgent resolution to this dilemma is vitally necessary.

“Just a few weeks ago at CDB’s annual meeting which was held in the Turks and Caicos Islands, I argued that our economies need to grow and they need to do so in a robust and sustained way. For the Caribbean to achieve its collective ambition to end poverty and ensure prosperity for all international trade must be a central tenet of its economic growth strategy,” Smith stressed.

marlonmadden@barbadostoday.bb

7 Responses to Open the door!

  1. Richard Johnston July 11, 2017 at 6:40 am

    China’s interest is in creating power centers near the United States, not in helping the Caribbean. They have no history in thousands of years of helping anybody outside the Middle Kingdom.

    Reply
  2. Puppa Weekes July 11, 2017 at 8:17 am

    Is this the new face of Colonization? Hmmmmmmmmm!

    Reply
  3. Don July 11, 2017 at 10:24 am

    Please don’t sell out the bajans people ,these people coming smiling for now but the outcome is they want power and influence over your government

    Reply
  4. Milli Watt July 11, 2017 at 3:47 pm

    a communist using a capitalist model looking for new grounds to graze on………yeah make sense to open the door.

    Reply
  5. Tony Webster July 11, 2017 at 5:49 pm

    The Peoples Republic of China is indeed a great power, in global economic terms.

    In terms of democratic forms of government; the separation of the three arms of the executive, the legislative, and the judiciary, they remain in the dark ages. The human rights of individual citizens is totally subject to the whims of the Communist Party. The citizens of Hong Kong, under the “Basic Law”, agreed as the UK’s lease expired, is respected only in pretense, and even their supposedly protected human rights are in jeopardy, as very recent events have demonstrated.

    Of passing interest, is the simple, stark truth that they know not God. We ought to recall, and to keep in mind, how important it is to choose one’s friends, carefully.

    Do not troubleTrump too, will pass, and a more human, intelligent face will reside at 1600 Pennsylvania Avenue.return to

    Reply
  6. Yap Bait July 11, 2017 at 6:57 pm

    Oh yeah!..let the adulterated food and inferior products become common place on our shelves with the grocery stores becoming Chinese chain stores. A closed country for all of these years has found other avenues of enlightenment through money.

    Reply
  7. Alex Alleyne July 11, 2017 at 8:37 pm

    “Plastic Rice”, here I come.

    Reply

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