Caribbean and China shares objectives for economic growth and trade cooperation

Caribbean countries are taking steps to deepen their ties with China in the potentially emerging sectors for growth. The cooperation was expressed by the officials during the recent China-Caribbean Economic and Trade Cooperation Forum that was concluded on Saturday, 14 September.

The meeting between the officials of China and the Caribbean nations was the fourth forum organised to strengthen the economic bonds. The event was held for three days in south China’s island province of Hainan, started on Thursday, 12 September.

The focus of the China-Caribbean meeting was on the sector which are going to see hike in coming times on the basis of current scenarios. The officials from both sides discussed about the potential opportunities that could lead the economic growth and flourish their trade cooperation.

It is disclosed that the crucial topics like use of digital technologies, green development, and low carbon emission initiative were also part of discussion. These were important points in order to serve the future commitments of the Caribbean nations while growing.

Wang Shouwen, Vice Minister of Commerce for China, said said on the cooperation with the Caribbean nations, “Over the last 20 years, trade between China and Caribbean has grown at an average annual rate of 13 percent, which is 3 percentage points higher than China’s overall foreign trade growth during the same period.”

With the words of Wang Shouwen China expressed the intention to continue the cooperation with the Caribbean countries. China is looking for the new possible opportunities in the Caribbean while supporting its enterprises, which is well equipped with advance technologies like AI, 5G communications, ans pollution control.

After the three day event of China-Caribbean Economic and Trade Cooperation Forum, the officials of both sides issued a joint statement. The statement disclosed their objectives to improve and expand cooperation for trade along with sustainable economic growth.

Caribbean Nations and China are looking forward to enhanced trade facilitation together while focusing on strengthening cooperation for tourism, health care, quarantine, and animal and plant inspection.

Their objectives also covered the mutual effort and investment for the betterment of sectors like green development, blue economy, digital economy, and food production. Their long-term agendas are not just covering the political cooperation but also stutainable development for the local communities.