Direct Investment, Tourism and Trade Discussed in Bahamas-China Talks

Direct foreign investment, tourism and trade opportunities between the Bahamas and China topped the agenda during bilateral discussions between Bahamian and Chinese officials on Thursday. Zhivargo Laing, Minister of State in the Ministry of Finance, led the Bahamian delegation at the talks, while Chen Jian, Vice Minister of Commerce in the Ministry of Commerce, headed the Chinese delegation.

Mr. Laing said China’s significant economic growth could be a “boom” for the Bahamas, as far as tourism, trade and direct foreign investment opportunities are concerned. Mr. Laing said the parties also discussed opportunities for Bahamian products and services to be promoted in and exported to China.

Addressing members of the Bahamian media attending the Second China-Caribbean Economic Trade and Cooperation Forum, Mr. Laing said the delegations also took the opportunity to discuss the “significant trade deficit” between the Bahamas and China. He said Vice Minister Jian agreed that additional direct foreign investment into the Bahamas is a possibility.

“The extent to which the Government of China and ourselves can cooperate to get our message out about our tourist opportunities to those kinds of persons, would be the extent to which we could encourage greater numbers of Chinese tourists to The Bahamas,” Mr. Laing said.

Laing said during the Caribbean Caucus, it was agreed that there is a need for a more “practical and focused approach” to obtain some of the benefits of the arrangements that have already been made between the Caribbean and China through the Approved Destination Status.