(TrinidadGuardian)In 2019, T&T became the first Caricom country whose trade with China exceeded US$1 billion, says Chines Ambassador Fang Qiu.
He made the remarks at a reception which took place last week to celebrate the tenth anniversary of the inception of the Belt and Road Initiative (BRI) and the fifth anniversary of China-T&T BRI cooperation.
“By 2022, our bilateral trade volume surpassed US$1.31 billion, more than doubled the value before joining the BRI,” Qiu added.
In 2018, this country became the first Caribbean country to sign onto the BRI, propelling T&T’s practical cooperation in various fields to a new stage.
As relations continue to strengthen, local enterprises have also participated in the China International Import Expo for two years in a row, bringing more and more speciality products such as rum and chocolate to Chinese consumers.
“I’m happy to be informed that T&T Fine Cocoa Company is cooperating with a chocolate producer in Hainan China, and tonnes of fine cocoa products will be exported to China soon. Now the two countries are coordinating closely in the implementation of the Forensic Science Centre project to contribute to the social security of T&T,” Qiu stated.
The BRI has also served as incentive for closer people-to-people and cultural exchanges between China and this country.
In this vein, the ambassador said the signing of the Letter of Intent on the twinning of Shanghai and Port-of-Spain marked a great leap forward in the friendly exchanges and cooperation between the two cities and by extension the two countries.
“China has made continuous efforts to provide human resource training opportunities to the Trinidad and Tobago side. So far, nearly 500 participants from T&T, including 63 this year, have attended various training programmes offered by China. Our two sides have also carried out fruitful cooperation in the fields of agriculture, medicine and health, disaster prevention and mitigation and green development, which have further enhanced our traditional friendship and brought the two peoples closer on the road of pursuing a happy life,” the Ambassador added.
He noted that over the past five years, China-T&T BRI cooperation has led to an all-round development of practical cooperation between the two countries.
He cited that the Phoenix Park Industrial Estate, the first BRI flagship project in the Caribbean region, which has been completed and will soon be put into operation.
Powered by the cutting-edge technologies of 5G, AI, big data and Internet of Things, this state-of-the-art industrial estate will host companies in the areas of light and advanced manufacturing, assembly, logistics and distribution and ICT industries, and advance the realisation of the economic diversification strategy of T&T.
Now, according to Qiu, China has embarked on a new journey toward building a modern socialist country in all respects, and will advance the rejuvenation of the Chinese nation on all fronts through a Chinese path to modernisation.
He added that China’s new journey will not only reinvigorate its own new development, but also create fresh opportunities for the world.
The ambassador reiterated that China will continue to promote high-standard opening up and the effective integration of domestic and international markets and resources, and provide more market, investment and growth opportunities for its Belt and Road partners, including T&T.
Speaking on a larger scale, Qiu noted that the BRI offers a path of solidarity for global partnerships, stating that it is a global public good that practices true multilateralism, where everyone can discuss together, build together, and share together.
“So far, a total of 152 countries and 32 international organisations have signed more than 200 cooperation documents with China under the framework of the initiative. China has held two Belt and Road Forums for international cooperation, where over 20 cooperation platforms were launched in fields such as energy, port, railway, green development, and digital economy. Later this year, the third Belt and Road Forum for international cooperation will be held,” Qiu added.
Additionally, the BRI offers a path to win-win cooperation on connectivity.
“A general connectivity framework consisting of six corridors, six connectivity routes and multiple countries and ports has been put in place,” the Ambassador said.
He noted that landmark accomplishments include the Mombasa-Nairobi Standard Gauge Railway in East Africa, China-Laos Railway in Asia, the new Haifa port in Israel, the China-Pakistan Economic Corridor, among others.
Qiu also cited that China-Europe freight trains, for example, have made 10,000 trips so far this year, carrying more than 1.08 million 20-foot equivalent unit (TEU) containers of goods, up 27 per cent.
He said in total, the initiative has generated nearly US$1 trillion of investment and formed more than 3,000 cooperation projects, adding that China’s trade in goods with BRI countries doubled from US $1.04 trillion in 2013 to US$2.07 trillion in 2022, with an average annual growth rate of eight per cent.
Moreso, Qiu said the BRI offers a path of hope for global sustainable development.
“The initiative has always been development-oriented, and consistent efforts have been made to ensure it is high-standard, sustainable and people-centred. The initiative has created 420,000 jobs for countries along the Belt and Road, and lifted nearly 40 million people out of poverty. A series of micro but substantial projects aimed at improved health and education, and access to sports, among others, have produced fruitful results,” he noted.
Dr Annita Montoute, interim director of the Institute of International Relations, who also delivered remarks, noted that the BRI represents a new approach to development cooperation for the Caribbean and distinguishes itself from traditional trade and investments agreements which have an overarching “one size fits all neo liberal framework”.
Further, she added that the BRI displays a more flexible and open nature which provides a mechanism by which Caribbean countries can have more space and exercise greater leverage in negotiating initiatives on terms to accommodate their specific needs.
Additionally, Montoute said the BRI projects carry the potential to meet a variety of development needs of participating countries, noting that Caribbean countries stand to benefit from the Belt and Road Initiative through strategically conceptualised projects aimed at reducing the high debt burdens which plague Caribbean states and managing coordination in their engagement with China through the BIR.
