CHINESE memory pillows, voltage protectors, and biodegradable plates plus TT-made herbal teas, pepper sauce and seasonings were on show at the China (Zhejiang)-TT Trade Fair on March 31 at the First Caribbean Marketing Co Ltd, Trincity.
Trade Minister Paula Gopee-Scoon and Chinese Ambassador Fang Qiu launched the event which featured exhibitors from China's Zhejiang ("jer-jiang") Province on the country's east coast, just south of Shanghai, plus TT firms, including Diamond Miracle Creations (teas), Angostura, Chief Brand and InvesTT.
From China, the Yongkang Bimo Co Ltd offered bottle coolers, Wenzhou Banda showed off its electrical fittings and the Joy Chance Imp/Exp Co Ltd showcased bedding and pillows.
Gopee-Scoon said the event helped to diversify the strong relationship between China and TT with new linkages between TT and Zhejiang.
"Trade at the provincial level is by no means a disadvantage. With more than 60 million people, a GDP topping US$1 trillion in 2021, and a diverse and thriving manufacturing and digital economy, Zhejiang is an ideal commercial partner.
"The region is home to the massive Yiwu ("ee-wou") International Trade City, and is backed by powerful private businesses and major technology firms headquartered there, such as retail e-commerce and video game giants (respectively), Alibaba and NetEase.
"While it is important to reinforce existing relationships and therefore boost existing streams of trade, it is necessary to diversify those relationships in order to reduce risk and expand the opportunities for new trade and investment. I therefore welcome this new trade fair which showcases products manufactured in Zhejiang, but also products that are made right here in TT."
Gopee-Scoon said TT imports from China were worth US$600 million (TT$ 4.1 billion) in 2021, consisting mainly of iron and steel structures, air-conditioning machine parts, and portable computers. Conversely, TT exported US$174 million (TT$1.2 billion) of products to China including methanol, aromatic bitters and asphalt.
"We hope that this event will both expand the markets for our locally produced products, as well as encourage more and more Chinese firms to set up operations here in TT.
"We are strategically located with market access to over one billion people, a skilled workforce, low operating costs and low energy costs. To further facilitate investments, the Government is working to, among other things, develop a new investment framework and expanded infrastructure."
[caption id="attachment_1008874" align="alignnone" width="1024"] Chinese textile company representative Star Song, centre with Anneleiz Martin-Sankersingh and Renard Sankersingh of Siparia Sports Ltd at the China-TT trade fair, held at First Caribbean Marketing Co Ltd, Trincity Business District, Trincity on March 31. - ROGER JACOB[/caption]
To encourage investment, she cited a new special economic zones regime due this year, towards creating a more modern, competitive and attractive investment climate. Further, the 144-acre Phoenix Pa
