China Council for the Promotion of International Trade (CCPIT) and Barbados Investment and Development Corporation (BIDC) have agreed to jointly enhance bilateral trade and investment.

The agreement was made as CCPIT Chairman Jiang Zengwei met CEO of BIDC Sonja S. Trotman in Bridgetown, capital of Barbados on April 16. The two sides exchanged views on the development of China-Barbados economy and trade and reach a board consensus.

Jiang Zengwei said, Barbados is an important cooperation partner of China in the Caribbean region. With the joint efforts of both sides, the increasing number of bilateral contacts and the deepening of economic and trade cooperation have brought tangible benefits in recent years.

“The Belt and Road construction provides new impetus and opportunities for China-Barbados cooperation. Our cooperation has a brilliant future in tourism, agriculture, finance, infrastructure construction and other fields. We believe a growing number of Chinese enterprises will invest in Barbados and more Chinese tourists will visit Barbados. CCPIT will build a platform for the cooperation and project match-making for enterprises in the two countries through policy promotion, exchange of visits, exhibitions, commercial legal services, etc. CCPIT will boost enterprises to achieve inclusive, cooperative and win-win development, and enhance economic and trade cooperation,” added Jiang.

Chinese ambassador to Barbados Yan Xiusheng spoke highly of the development of China and Barbados ties, and introduced a series of new measures for China's opening to the outside world. He said, the opening door of China will never be closed, and the Caribbean region, as a natural extension of the Maritime Silk Road, has great potential in Belt and Road international cooperation. Yan introduced the China International Import Expo (CIIE) to be held in the second half of 2018 in China, and sincerely invited enterprises of Barbados to participate in the CIIE.

Sonja S. Trotman noted, Barbados regards China as an important economic and trade partner, and is willing to foster the bilateral ties. Barbados is actively diversifying its economy, and China and Barbados have signed the reciprocal protection of investment. The Barbados government has issued many laws and regulations to attract foreign investment and hoped that Chinese enterprises will come to Barbados to invest and bring new vitality into the development of its economy and trade.

“BIDC and CCPIT need to strengthen the cooperation in personnel training, economic and trade information exchange and business group visits, upgrade the level of cooperation between the two countries' trade promotion agencies. BIDC will organize more enterprises to participate in the CIIE and promote quality products of Barbados into the Chinese market,” added Trotman.