The Bahamas Government is seeking to deepen its relationship with China and studying the possibility of a permanent presence in Beijing.
Deputy Prime Minister and Minister of National Security Cynthia Pratt told a luncheon at the Atlantis Resort, to mark the visit of State Councillor of the People’s Republic of China. Madam Wu Yi and a delegation of Chinese business people that this is an important juncture in the development of The Bahamas as it seeks to maintain growth and development when globalisation and trade liberalisation challenge small island developing states.
Noting that The Bahamas have developed and maintained sound economic policies, good economic management, and a healthy investment climate, Minister Pratt said the Government is pleased with the progress the country has made. She pointed to tourism and the financial services, which has led the country’s growth and development.
“We have noted reports that China is high among the countries attracting the largest amount of foreign investment in 2002. China’s impressive economic development has made it a leading economy in Asia and the world. This is an inspiration for many countries, including The Bahamas,” she said.
We are especially pleased that Chinese businesspersons are among your delegation. We want them to tell their counterparts in China that The Bahamas is also open for business. We are confident that they will encourage Chinese business to take advantage of the many opportunities The Bahamas has to offer,” Minister Pratt said.
China is also an influential member of the United Nations, and a permanent member of the Security Council. “The Bahamas and China enjoy a good record of cooperation in the United Nations. Together, we have seen that much can be accomplished through mutual understanding, respect and collaboration. In that regard, we are keeping ourselves informed of China’s current efforts towards the maintenance of peace and security on the Korean Peninsula,” Minister Pratt said.
She also touched on China’s membership in the World Trade Organisation (WTO), which is also important to The Bahamas, as it seeks full membership. China will play a significant role in the evolution of the rules and regulations of the international trading system, which she hoped will be equitable to all.
Madam Wu indicated her country’s support in The Bahamas becoming a WTO member.
“The economy of China and The Bahamas have had many advantages. Therefore we can learn from each other and enjoy each other experiences,” she said.
She noted that China would like to strengthen its cooperation with The Bahamas in such areas as agriculture, tourism and finance. She noted that China also supports the early entry of The Bahamas in the World Trade Organisation.
She expressed her sincere thanks to the Government and people of The Bahamas for their hospitality. She also thanked The Bahamas for its support for the “One China” policy.
By Keva Lightbourne, The Nassau Guardian