PRIME MINISTER RETURNS FROM CHINA
August 30, 2004
Prime Minister the Rt. Hon, Perry G. Christie and Mrs. Christie returned to Nassau on August 24, 2004, after an official five-day visit to the People's Republic of China. On his arrival at the Nassau International Airport, he made the following statement:
I am happy to be back in The Bahamas following my state visit to the People’s Republic of China. It was a good and successful trip which will impact The Bahamas positively for years to come.
I believe that our visit has cemented a better working relationship with China and it has caused us to understand better the Chinese people, their Government, its aims and objectives. I believe they have come to better understand us, our policies, aims and objectives.
I wish to thank President Hu Jintao and Premier Wen Jiabao and the Government of China for the many courtesies extended to my delegation during our visit. We left China very much aware of its social challenges but deeply impressed by its extraordinary sustained economic growth rate which has resulted, we are advised, in Foreign Capital Reserves in excess of 460 billion dollars. Very clearly, China must be seen as a country with great potential as a source for investment capital. As you know, today, one the major Chinese private sector companies Hutchison Whampoa already has significant investments in The Bahamas.
The visit to China counts a great many successes. Amongst them are as follows:
After some significant negotiations the Chinese Government has agreed to the gift of a national stadium with 15,000 seats, designed with a capacity to expand to 30,000 seats. It is anticipated that the stadium will be magnificent both in appearance and in functioning. Upon its completion, Bahamian athletes and spectators will enjoy a modern stadium tailored for their needs and comfort. Architectural design work has already begun, and we shall work to have construction commence as quickly as possible.
In this regard, I should also inform you that it is our intention to prepare a master plan for the entire Queen Elizabeth Sports Centre to ensure that Bahamians have access to the total range of modern sports facilities over a period of time.
I am constrained to say at this stage that I was disappointed over the FNM’s decision to make a critical statement with respect to the use of Chinese labour without first waiting to hear what in fact we actually negotiated. As you may know, we have negotiated that China will provide a design and supervisory team and The Bahamas will provide the labour for the construction.
The President of China Mr. Hu Jintao has agreed to accept the invitation by The Bahamas Government to visit The Bahamas at a convenient time.
During my discussions with the President and the Premier, they indicated strong support for investments by the private sector of China in The Bahamas. Further, the Premier indicated that his Government was interested in designating The Bahamas as an approved destination for Chinese tourists. Given the availability of significant discretionary income in the growing wealthy classes of China, this will be a significant designation because it will allow freer travel to The Bahamas by Chinese tourists.
The province of Fujian wishes to have expanded trade relations with The Bahamas. One of the major export manufacturing companies of the province wishes to make a second visit to The Bahamas to work through the requirements of establishing a subsidiary in The Bahamas. Much to my absolute delight, they are interested in establishing jewelry and a souvenir handicraft manufacturing facility preferably by way of joint venture with Bahamians. This may well be a wonderful long awaited opportunity of the Junkanoo community.
The question of training opportunities for Bahamians and for agreements with Bahamians who wish to expand their manufacturing ideas to promote their products will now be possible.
During the visit I met with the Chairmen of China Ocean Shipping Company (COSCO) and China International Trust and Investment Corporation (CITIC), two very large and diverse Chinese companies. COSCO is the world’s largest shipping company. Its Chairman announced that since his exploratory visit to The Bahamas in June 2004, his company has agreed to a substantial investment in Freeport, Grand Bahama concerning shipping interest which is now subject to the due diligence process.
COSCO has also announced a major commitment to the Bahamian Maritime Ship Register. It has registered already three ships and by a very recent strategic decision has agreed to the formation of a ship leasing company in The Bahamas that should result in an additional 10 to 40 ships on our register.
The CITIC group has also agreed plans for a substantial investment in Freeport, Grand Bahama and is also currently engaged in its due diligence process. We were also advised of the interest of other corporate groups which have planed exploratory visits to The Bahamas.
We were provided with an abundance of opportunities to see and experience the value of full-time planning. Our own commitment to such planning immediately in The Bahamas has been reinforced. Moreover, the energy that we have witnessed in the area of the restoration, presentation and promotion of historical assets like Clifton on this Island and the provision of open green spaces and parks have reminded us to avoid delaying our plans in this area.
In summary, I believe that the visit to China has served The Bahamas well. There will be more visits to this country by Chinese businessmen and officials. Yesterday in London, I advised our Maritime Office that we sought and obtained the agreement of COSCO Shipping Group to assist our maritime officials in a promotional trip to China. I believe that increased trade and commerce will come from our visit. I expect that our trade unionists, businessmen and Parliamentarians will now follow up with visits to China. It is important for The Bahamas to expand its horizons. This will serve the greater interests of The Bahamas.
