The economic and cultural bonds between China and the Caribbean were strengthened on Tuesday at a milestone meeting held as part of the CIFIT's Caribbean Day.

　　Vice Premier of China, Wu Yi, joined delegates from the eight Caribbean nations who have established diplomatic relations with China- Guyana, Jamaica, Trinidad and Tobago, Suriname, Barbados and Antigua and Barbuda.

　　Since the 1970s these nations and China have co-operated within political, cultural and economic spheres. Last year a nine-point proposal was put forward to strengthen Sino-Caribbean relations stimulating closer contact and dialogue, broader economic exchanges and greater mutual investment. According to Chinese statistics, total trade between the Caribbean and China from January to July this year reached US million- up by 31 per cent over the same period last year.

　　countries are all developing. Therefore, further strengthening and deepening bilateral economic and trade exchanges and co-operation is in the fundamental interests of us all," Vice Premier Wu Yi said.

　　Gaston Brown, Minister of Planning, Trade, Industry, Commerce and Public Service Affairs in Antigua and Barbuda, also stressed the importance of relationships between developing countries. "Developing countries should share in global trade. We need to create strategic partnerships insgroupsto increase our core competencies. Therefore the creation of people to people links is vital."

　　Chinese investment in the Caribbean was seen as not only a way to build these links but also to aid China in diversifying its economy through foreign direct investment.

　　"Traditionally investment in the Caribbean has come from the West. The tourism industry attracts rich, western tourists. But we would like to invite our Asian friends to benefit from investment in our country," Brown said. "The development of an Asian presence in the Caribbean could benefit both of us."

　　Representing the government of Saint Lucia, Leo Titus Preville, gave an animated speech about the importance of defining economic parameters in terms of humanity and the values and principles that govern society.

　　The speakers described the investment opportunities available on their Caribbean islands. Most importantly, investment was called for within the tourism industry, which accounts for 60 per cent of the annual GDP in the area. Other important sectors seeking investors included information and communication technology, manufacturing , agriculture and fishing.

　　The visit by the Caribbean delegation was part of their government's efforts to forge an economic growth path after the area suffered from the after-shocks of September 11th 2001. Increased Chinese investment in the area was seen as both a means to increase foreign direct investment to the region and as a way to benefit China's drive outwards as both countries establish themselves within a globalised marketplace.