BEIJING, Oct. 22 (Xinhuanet) –The Chinese trade official told Bahamian Minister of Trade and Industry Leslie Miller that China attaches importance to bilateral economic ties with the Bahamas and hopes to further it.
The Chinese government encourages enterprises to invest in the Bahamas in light industry, agriculture and fishing, Liao said, noting that China will fully support the Bahamas’ WTO accession.
The WTO working group will initiate the Bahamas’ accession process in the first quarter of 2004 and China is expected to be a member of the group, according to Miller.
Miller said he appreciates China’s support to the Bahamas, saying the Bahamas wants more investment from Chinese companies and more goods from China directly.
The Bahamas imported about 1.5 billion US dollars worth of consumer goods last year, accounting for about 97 percent of its total consumption, Miller said, adding that Chinese goods, with much less labor cost, have sharp competitive edge.
But most Chinese goods sold in the Bahamas were imported via the United States, Miller said.
China-Bahamas trade increased by about 80 percent year-on-year in the first eight months of 2003, reaching 94.8 million US dollars, Chinese official figures show.
Miller also invited Chinese companies to invest in the Bahamas’ light industry, agriculture and fishery sectors, saying that it is conducive to the Chinese companies and the Bahamian people as well. Enditem
Chinaview
