Maroc - NEWSDAY.CO.TT - A la Une - 27/Jul 22:13

Gopee-Scoon: Trinidad and Tobago, China share historical links

TRINIDAD and Tobago and China share historical links that precede official bilateral relations, dating back to 1806 when the first wave of Chinese immigrants arrived in this country. So said Minister of Trade and Industry Paula Gopee-Scoon, when she received a courtesy call from vice chairman of the Anhui Provincial Committee of the Chinese Political Consultative Conference Zhou Xi’an, and a delegation from the People’s Republic of China on July 26. This year marks the 50th anniversary of the establishment of bilateral trade ties between the two countries. The meeting facilitated discussions on areas of industry and trade co-operation between Trinidad and Tobago and the Anhui Province, China, a news release from the Ministry of Trade and Industry said on July 26. Also reflecting on the long history Zhou said he was happy to visit Trinidad and Tobago. He said the Anhui Province’s GDP is 11th among the 31 Provinces in the People’s Republic of China and the region ranks tenth in terms of volume of trade, offering many possibilities for future trade and investment. During the meeting, the parties also discussed Trinidad and Tobago’s attractiveness to investors including its access to regional markets, educated and experienced population and new special economic zone regime, the release said. The release said, "In 2021 and 2022 Trinidad and Tobago’s exported products to China included both energy and non-energy products such as methanol, aromatic bitters, natural asphalt, mackerel, methanol, liquified natural gas and copper scrap. "In 2022, imported products included air conditioning parts, tyres for motor cars, tyres for buses, computers, steel pipes and televisions. "Total imports stood at $5 billion while total exports for that year was $1.6 billion." Earlier this month, China’s ambassador to Trinidad and Tobago Fang Qiu said the rapid economic and trade growth has been “one of the most remarkable accomplishments in China-TT bilateral relations." Trinidad and Tobago became the first English-speaking Caribbean state to cross US$1 billion in trade with China for the first time in 2019, peaking at US$1.34 billion last year. Trinidad and Tobago exports mainly comprised energy products, such as liquefied natural gas (LNG) and petrochemicals; imports comprised machinery, electronics, clothing, and other consumer goods. The trade arrangement has evolved in recent years through legislation, encouraged by Fang, who sees the diplomatic ties as a blueprint for equitable partnerships and mutual benefit between countries of all sizes. “Over the past half-century, our bilateral relations have evolved extensively, with successful pragmatic co-operation across diverse fields,” Fang told guests at a workshop organised by the embassy at the Trade and Investment Convention at the Centre of Excellence, Macoya, this month. The $1 billion milestone “clearly demonstrates the strength and promise of China-Trinidad and Tobago economic and trade co-operation," he said, adding that China’s continued development represents valuable global opportunities. On July 19, rum and bitters make Angostura announced a distribution agreement to export its products to China. The agreement, it said, is with Caribbean Commercial Management (Hangzhou) Co Ltd, a subsidiary of First Caribbean Marketing Company Ltd (‘FCMC’). FCMC is an established importer and exporter of Chinese goods into Trinidad and Tobago and the wider Caribbean, it added. Angostura said, considering the co-operation between the two governments "this distribution agreement signifies the fruit that can be borne from a successful trading relationship between the two great nations." The post Gopee-Scoon: Trinidad and Tobago, China share historical links appeared first on Trinidad and Tobago Newsday.