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Nassau, Bahamas – On September 6, 2010, relations between The Bahamas and China were further solidified with the signing of a Trade Cooperative Agreement with the Bahamas Chamber of Commerce (BCOC) and the China Foreign Trade Centre (CFTC). As outlined in the Agreement, “The China Foreign Trade Centre and the Bahamas Chamber of Commerce agreed to jointly take effective actions to strengthen cooperation between Chinese and Bahamian business institutions, with public promotion, mutual visits, trade fair and exposition, business travel and consultancy as major instruments for achieving their objectives,” as was stated in the Agreement. One of the main goals is the willingness by both Parties to make positive contributions to strengthening ties between businesses in China and The Bahamas in their respective fields.
Khaalis Rolle, President of The Bahamas Chamber of Commerce and the Director General, Wang Zhiping of the China Foreign Trade Centre made the historic signing at the Sheraton Nassau Beach Resort where BCOC directors as well as members of the Embassy of the People’s Republic of China in the Commonwealth of The Bahamas and a delegation from the CFTC gathered.
The signing was followed by a workshop of approximately 100 persons with official remarks brought by the Deputy Prime Minister and Minister of Foreign Affairs, the Hon. Brent Symonette, the Chinese Ambassador, His Excellency Hu Dingxian and Khaalis Rolle, President of the BCOC.
The detailed presentation by the China Foreign Trade Centre involved the Canton Fair, a large event that is held in three phases starting on October 15th and ending on November 4th in Guangzhuo, China where a Bahamian delegation is expected to attend.
The Canton Fair commenced in 1957 and takes place two times a year. It offers products and services from 20,000 suppliers and is an important venue for businesses in The Bahamas and around the world. “It has the largest attendance, is the best of business and has the broadest buyer distribution,” said Wang Zhiping.
“In the Caribbean, The Bahamas is an important player in the China market and Bahamians are getting to know more about “made in China,” said His Excellency, Hu Dingxian. “Trade between our Countries is increasing annually, with exports from the Bahamas having surpassed $10 million in 2007, up 9.5%.”
Bahamas Chamber of Commerce president, Khaalis Rolle stated that the Bahamas exports around $10 million to China each year, and the import/export market reached $348 million in the first half of 2010, and there is still tremendous opportunity for growth.”
“As I reflect on the signing,” said Rolle, “One word that comes to mind is “friendship” which is exemplified when you look at the Stadium that is currently being built (at the Sports Centre in Nassau). This Agreement is an expansion of trade opportunities. We need to embrace the economic presence of China and we should take advantage of the tremendous opportunities.”
“The trade signing will add another dimension,” said the Deputy Prime Minister. “It will keep each side informed and aims to facilitate business. This is a welcomed development as China is the second largest economy in the world.”
The Bahamas Chamber of Commerce’s mission is to promote trade, expand commerce and build better communities. More information can be found at www.thebahamaschamber.com..