NASSAU, Bahamas - Deputy Prime Minister and Minister of Foreign Affairs the Hon. Brent Symonette underscored the importance of the mutually beneficial relationship between The Bahamas and the People’s Republic of China (PRC), as the country bid farewell to the Chinese Ambassador after a three-year tour of duty.

During a farewell reception held Wednesday, February 27, 2008, at the Ministry of Foreign Affairs, on East Hill Street, Mr. Symonette commended Ambassador Li Yuanming for the "excellent stewardship" he rendered during his tenure for the "mutually beneficial promotion of Bahamas/Chinese relations."

He said: "I am equally confident in saying without fear of contradiction that, as you and your family depart our shores, hopefully not forever, you have also accomplished the unparalleled feat of enabling 1.33 billion people to be endeared to and embraced in the hearts of some 0.33 million people."

The People’s Republic of China is being touted as the world’s fastest growing economy with a projected Gross Domestic Product (GDP) by the World Bank of 9.6 percent for 2008, despite a slow-down in 2007.

Mr. Symonette also noted that despite unbalanced developmental, environmental, social, ethnic and ideological challenges, the PRC successfully launched two manned spacecraft in 2003 and 2005, and orbited the moon in 2007.

"In spite of such international standing being a Permanent Member of the United Nations (UN) Security Council, and courted by all major powers, the People’s Republic of China has shown herself to be a friend both to The Bahamas and the Caribbean region," he said.

Mr. Symonette added that, regionally, the Caribbean Community (CARICOM) has been given preferred tourism and trade status by the People’s Republic of China..

Mr. Symonette credited the PRC for supporting a high priority CARICOM-led initiative at the UN for the conversion of the Ad Hoc Group of Experts on International Cooperation in Tax Matters into an international deliberative body of the UN’s Economic and Social Council.

"The success of this initiative goes a long way to levelling the playing field, internationally, in order for the Caribbean Region to have a direct voice in global decision-making on international financial matters, which are of economic importance to many Caribbean economies, not the least our own," Mr Symonette said.

The Bahamas has signed important accords with the PRC relating to education, culture and commerce.

"On the basis of these, Bahamians have benefited from academic, diplomatic and Chinese-language training, as well as economically, due to increasing numbers of ordinary Bahamians going to China for commercial advantages," Mr. Symonette said.

May 23, 2007, marked the10th anniversary of the establishment of diplomatic relations between the Commonwealth of The Bahamas and the People’s Republic of China.

Last year, through the "diligent and skilled intervention" of Ambassador Li, the Chinese Government agreed to The Bahamas requested modifications, incurring additional grant funding to the National Stadium Agreement signed on August 18, 2004, Mr. Symonette added.

"As the Ambassador makes his departure, he, therefore, leaves behind a lasting monument whose aesthetic and functional features will not only forever cement Bahamas/Chinese friendship, but proclaim the same to the world given the plans on the drawing board for the use of the National Stadium upon completion." Mr. Symonette said.

Ambassador Li said it was with "deep honour" that he served in The Bahamas. He said that he was also pleased to have witnessed the "most successful" bilateral exchange between both countries.