Hainan to Host China-Caribbean Ministerial Conference
The forthcoming Ministerial Conference of the Fourth China-Caribbean Economic and Trade Cooperation Forum is set to take place in Qionghai, Hainan province from September 12 to 14. This event will see the gathering of government delegations from China and 11 Caribbean states, as announced by the Ministry of Commerce.
This conference aims to spotlight China’s ongoing commitment to furthering reforms and opening-up policies, while also promoting increased economic and trade exchanges with the Caribbean countries. The forum will cover a host of critical themes, including technological innovation, the digital economy, and green development.
Participation is expected from officials and representatives across the Caribbean region, including but not limited to Barbados, Bahamas, Cuba, Guyana, and Jamaica. The conference’s format will blend ministerial meetings with dialogues between Caribbean and Chinese enterprises, fostering an environment conducive to mutual learning and partnership.
Meng Yue, a prominent figure from the department of foreign trade at the Ministry of Commerce, highlighted China’s eagerness to enhance trade relations with the Caribbean. “China is prepared to collaborate with Caribbean countries to augment trade volume, and we are eager to welcome more high-quality Caribbean products into the Chinese market,” stated Meng. He further asserted the willingness of Chinese companies to offer top-grade products to the Caribbean, aiming to boost trade relations further.
Over the years, the trade relationship between China and the Caribbean has displayed remarkable resilience and vitality. Between 2018 and 2023, the trade between the two regions has seen an average annual growth rate of 10.2 percent, reaching a trade value of $11.8 billion last year. This growth underscores the fruitful economic collaboration that has been nurtured over the years.
China’s investments in the Caribbean have spanned various sectors, including agricultural processing, manufacturing, and commerce. Such relations have facilitated the entry of Caribbean premium products like Barbados’s rum and Jamaica’s coffee beans into the Chinese market, primarily through e-commerce platforms and exhibitions like the China International Import Expo.
As China’s only tropical island province, Hainan presents itself as a significant partner for the Caribbean states. With leading industries like tropical agriculture and tourism that closely align with the Caribbean’s major industries, Hainan’s ongoing transformation into a free trade port unfolds abundant opportunities for cooperation between Hainan and the Caribbean. The local government has emphasized the compatibility and potential for mutual development in this burgeoning relationship.
