KINGSTON, Jamaica (JIS) — Jamaica’s Ministry of Housing, Environment and Water has welcomed and endorsed the third staging of the China-Caribbean Economic and Trade Co-operation Forum, which will be held this week in Port of Spain, Trinidad.
The two day forum, which will be held on September 12 and 13, under the theme “Development Co-operation, Win for All”, is aimed at further deepening the economic ties between the countries of the region, and China.
The Forum promises to build on the gains made at the first two forums, which were successfully concluded in Kingston, in February 2005, and in Xiamen, China, in September 2007.
It will be a “win for all” situation, in particular for Jamaica, which has enjoyed steady growth in its trading relationship with China since 1972, when diplomatic ties were established between the two countries.
Jamaica is currently China’s largest trading partner in the English-speaking Caribbean.
China’s track record track record of technical expertise and assistance in Jamaica includes the Chinese-funded Trelawny Multi-purpose Stadium, and the US$50-million Montego Bay Convention Centre, which was funded by the government and the EXIM Bank of China.
The Ministry of Housing, Environment and Water (formerly Water and Housing) has been a major beneficiary of China’s investments in the region.
Through the China National Corporation for Overseas Economic Cooperation (CCOEC), the Chinese government has provided US$23 million worth of pipes and fittings under a concessionary loan agreement to the ministry and its agency, the National Water Commission, with the aim of improving the island’s water supply.
The Chinese government has also demonstrated its commitment to assist with the shortage of housing at the low and middle income levels in Jamaica, dedicating US$71 million, or J$6.3 billion for low cost housing projects to be developed by the Housing Agency of Jamaica, in tandem with the Chinese firm COMPLANT.
Other areas of cooperation between Jamaica and China include agriculture, infrastructure development, finance, as well as education, cultural and sports exchanges.
As China is one of the world’s fastest growing economic powers, Jamaican businesspersons, officials and stakeholders stand to benefit greatly from the wealth of ideas, technical expertise and products that will be exchanged during the forum.
Disclaimer: The comments posted do not necessarily reflect the views of DominicaNewsOnline.com and its parent company or any individual staff member. All comments are posted subject to approval by DominicaNewsOnline.com. We never censor based on political or ideological points of view, but we do try to maintain a sensible balance between free speech and responsible moderating.
We will delete comments that:
See our full comment/user policy/agreement.