(Xinhua)
Updated: 2007-09-09 10:43

XIAMEN -- China plans to offer 4 billion yuan (US$530 million) in low-interest loans to Chinese firms in three years to encourage more investment in Caribbean regions.

China will help Caribbean countries to train 2,000 government officials and various technical professionals during the period, Chinese Vice Premier Wu Yi said at the ongoing 2nd China-Caribbean trade and economic cooperation forum held in Xiamen, a coastal city in east China's Fujian Province.

She pledged that China will broaden technical exchanges and deepen cooperation in agriculture and fishery, and implement tourism agreements to encourage more Chinese citizens to visit Caribbean countries.

"China is ready to deepen the economic and trade cooperation with Caribbean countries as it attaches great importance to their friendship and cooperation," she stressed.

Efforts will also be made to improve trade conditions and promote trade balance, as economic relation is of great significance to bilateral friendship and cooperation, according to the vice premier.

Wu said relationship between China and the Caribbean countries has been further strengthened, particularly over the past five years, when the trade volume increased at an annual average rate of 32.7 percent.

Enhancing cooperation is a natural requirement of economic development of both sides, who are devoted to improving national economies and people's living standards amid challenges brought about by globalization, according to Li Changjiang, chairman of the forum, held on the sidelines of the 11th China International Fair for Investment and Trade.

China and Caribbean countries, both developing nations, can learn from each other through cooperation, said Lolita Applewhaite, deputy secretary general of Caribbean Community.

"We hope to attract more investment from China, whose economy is growing rapidly, which will be a win-win choice," she said.

"We are particularly interested in learning China's experiences in tourism, industry and technology development," said Harold Lovell, minister of tourism with Antigua and Barbuda, a Caribbean island covering 441.6 square kilometers.

Development of bilateral economic and trade relations also provides momentum to Chinese firms.

The Shenzhen-based Huawei Technology Co., Ltd.,which launched marketing programs in Caribbean regions as of 1999, has provided equipment and services worth over US$100 million, said Fan Houhua, president of Huawei's Latin-American business.

Trade turnover reached US$4.4 billion in 2006 and is expected to hit US$5 billion this year. Both sides have registered US$2.23 billion in trade turnover in the first half of this year, up 22 percent as against the same period of last year, according to official statistics.

More than 260 officials, delegates of investment organizations and enterprises from 13 Caribbean countries participated the forum.