STATEMENT BY
THE TEMPORARY ALTERNATE GOVERNOR FOR
PEOPLE’S REPUBLIC OF CHINA
MS. WANG LIN
Madam Chair, Mr. President, Governors, Ladies and Gentlemen,
It is a great pleasure to attend this Annual Meeting of the Caribbean Development Bank’s (CDB) Board of Governors. Please allow me to express our sincere thanks to the Government and People of Canada for their support to the Annual Meeting and their warm hospitality. Our appreciation also goes to the Management and Staff of CDB for their excellent arrangements.
Madam Chair, today, the world is experiencing profound economic globalisation, technology is making rapid progress and global industrial restructuring and production factor relocation are accelerating. All the above factors provide a rare opportunity for economic development for all countries. However, at the same time, global development imbalance is outstanding, the gap between the rich and the poor is widening, poverty elimination and realisation of Millennium Development Goals are confronting severe challenges. Moreover, the recent international political and economic uncertainties, including the continuously rising price of crude oil and food and the impact of a potential US economic recession, presented new challenges to the Caribbean region in their efforts to achieve economic development, better living standards and social stability. Under these circumstances, the CDB needs to play a more active role in helping countries in this region to adjust their development policy and to strengthen their risk-prevention capacity. Besides, food security and agricultural development need to attach greater importance. The agricultural sector in the Caribbean region is vulnerable and facing challenges such as promoting product diversification, modernisation and improving competitiveness. Therefore, we hope that the CDB will strengthen its focus on agricultural development.
The year 2008 is the 30th anniversary of the introduction of China’s Reform and Opening up Policy. China has explored a development path of its own. China’s economy is developing with a rapid pace; the national power is strengthened obviously; and people’s living standard has continuously improved. In 2007, the overall economic performance was good and the Growth Domestic Product growth rate was 11.4%. However, there still exist prominent problems and deep-rooted contradictions. We are going to further promote economic structural adjustment, transform economic development mode, adopt a sound fiscal policy and a tight monetary policy, and scientifically adjust the pace and stance of development in accordance with changes in the economic and financial situation at home and abroad so as to maintain a stable and fairly rapid economic development. This is conducive not only to the Chinese economic and social development but also to the global economic and financial stability.
Mradam Chair, the Chinese Government pays great attention to the friendly and cooperative relationship with the Caribbean countries. We respect the development path Caribbean countries have chosen in accordance with their domestic conditions and support the integration efforts of the Caribbean countries. We are ready to cooperate with Caribbean countries on the basis of equality and mutual benefit.
Last September, on the Second China-Caribbean Economic and Trade Cooperation Forum, the Chinese Government announced detailed proposals of further cooperation with Caribbean countries. The proposals include improving market access so as to increase import from the Region; providing RMB 4 billion of preferential loan within the next three years to encourage more Chinese companies to invest in the Caribbean countries; offering 2,000 training opportunities within the next three years; sending agricultural experts to countries in need and to carry out technology cooperation in many aspects, such as crop farming and breeding, agricultural machine production, agricultural products processing, technical exchange and transfer, crop germplasm exchange, aquatic farming and fishery resource development; and encouraging Chinese tourists to travel to Caribbean countries. After the forum, the Chinese side will be in a position to implement the above said proposals. This January, a Chinese preferential loan working team visited Jamaica and other Caribbean countries. The team had discussions on issues relating to the four billion yen preferential loans with relevant government departments and received a positive response. In 2008, China is going to expand human resource cooperation with the Caribbean countries. A training programme of 505 personnel from regional counties has been programmed. Besides, China is going to encourage Chinese commercial associations and enterprises to visit Caribbean countries to look for trading and investment opportunities.
According to the statistics of Chinese Custom, the trading volume in 2007 between China and the Caribbean countries grew 19.3% yearly to US$5.25 trillion, surpassing US$5 billion for the first time. In the first three months of 2008, the trading volume is US$1.21 billion, an increase of 28.3%. At the end of 2007, Chinese enterprises have signed labour contacts of US$2.57 billion in the Caribbean region, with a business turnover of US$2.07 billion and their investment in the Region reached US$20.71 billion.
Madam Chair, the negotiation of the Seventh Replenishment of Special Development Fund (SDF 7) has already commenced. The Chinese Government has taken note of the progress of the SDF, especially since the SDF 6. We support the strategic goals and framework of the next replenishment cycle. China is willing to work with other contributors to formulate a reasonable replenishment plan based on consultation and will contribute to the best of our ability.
Thank you.
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