China and the Caribbean to Expand Trade Links

The China-Caribbean Economic and Trade Co-operation Forum held in Kingston, Jamaica, on Wednesday and Thursday is seen as a springboard to boost trade ties between the two sides.

The forum witnessed the signing of the Guiding Framework for Economic and Trade Co-operation between China and the Caribbean and also identified issues that need to be addressed to increase trade and investment levels.

Chinese Vice-President Zeng Qinghong, who attended the gathering, said the annual forum, in its second year, was a significant tool for exploiting the investment and trade potential of the two sides.

In recent years, trade between China and the Caribbean has seen rapid growth but remains comparatively small in scale. In 2004, the trade volume stood at US$2 billion, rising 42.5 per cent year-on-year but only accounting for 4 per cent of total Caribbean regional trade.