Last update: 29-Jul-2014 11:25 pm
Tuesday, July 29, 2014
Trinidad & Tobago Guardian Online
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Bharath to Chinese investors: T&T wants chunk of US$20b Latam investments
InvesTT, in collaboration with the China Council for the Promotion of International Trade (CCPIT), yesterday hosted the second Business Forum in Shanghai, the People’s Republic of China at the Portman Ritz Carlton Hotel. A statement from the Ministry of Trade said the forum, intended to promote the investment opportunities and sectors in T&T to potential Chinese investors, attracted about 120 persons.
In his address to the potential investors, Trade, Industry and Investment Minister Vasant Bharath affirmed that the State visit illustrated the high degree of importance the Government of T&T places on its commercial relations with the world’s largest exporter and its belief that the future economic progress of the country lies in part in deepening its economic linkages with China. “We have noted with great interest that in 2013, China invested approximately US$20 billion in Latin America and the Caribbean, and are hopeful that our country can be a recipient of a larger portion of these flows,” Bharath said.
The Trade Minister called on investors to aggressively pursue investment opportunities in T&T, saying that ‘Chinese companies are outbound and seemingly on a mission. China’s outbound direct investment increased by 16.8 per cent to US$90.17 billion last year.’ The minister highlighted the financial services sector as a key sector for investment, noting that T&T is seeking to develop an International Financial Centre, especially since the country is recognised as the financial capital of the Caribbean region. Also delivering remarks were Racquel Moses, president, InvesTT, and Cen Furong, chairman of CCPIT Shanghai Sub-Council. Today, Bharath will lead a T&T business delegation to Guangzhou to host the third and final business Forum, with an expected 100-plus potential business investors.