An interesting new partnership between the British Virgin Island and China was formalized this week in Tianjin, China.
The BVI Asian Trade Mission was led by premier and minister of finance, Dr. Orlando Smith and resulted in a pledge for strategic cooperation between the his government and the Administration Commission of the Tianjin Binhai New Area Central Business District (CBD).
Under the terms of the agreement, the BVI and the Tianjin Binhai New Area pledge to develop long-term cooperation with mutual understanding, respect of, and support for each others development strategies, systems of management and operation as long-term strategic partners.
Tianjin Binhai New Area is one of China’s special economic zones, set up in 2010 and located on the coast of the Bohai Sea, east of Tianjin’s main urban area, where experimental reforms are taking place.
At the signing ceremony, Smith said it is a historic moment for the BVI, adding, “We are both port cities so to speak – notwithstanding that the BVI is entirely surrounded by water — we are both keen to promote our financial services, our tourism, technology, a special economic zone and perhaps most significantly, we are jointly committed to supporting China’s Go Global Strategy.
Today I am pleased to confirm that our joint aim is to strengthen Chinese enterprises investment in the BVI, and to promote economic and trade cooperation between China and the BVI.”
Member of the Standing Committee of the CPC Central Committee of Binhai New Area Tianjin and party secretary and director of the CBD Administrative Commission, Wei Ming Zheng; deputy director of the CBD Administrative Commission, Ji Ping Shi; and officials of the Financial Service Bureau of the CBD Administrative Commission attended Friday’s signing ceremony.
At a BVI road show event later in the day, the premier gave a keynote address on the topic: “Pursuing Global Success with BVI as Your International Partner of Choice”
Tourism and investment opportunity experts are watching and weighing this recent development as the entire Caribbean region continues to search for new areas of partnership that may encourage sustained growth and stability for their markets.
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