China-Caribbean Economic and Trade Co-operation Forum Ministerial Conference 2005
Guiding Framework of Economic and Trade Co-operation

 

Preamble

The China-Caribbean Economic and Trade Co-operation Forum (hereinafter referred to as the "Forum") was held in Kingston, Jamaica from 2 to 3 February 2005. Ministers with responsibility for Trade, Foreign and Economic Affairs from Antigua & Barbuda, the Commonwealth of The Bahamas, Barbados, the People's Republic of China, the Republic of Cuba, the Commonwealth of Dominica, Grenada, the Republic of Guyana, Jamaica, Saint Lucia, the Republic of Suriname, and the Republic of Trinidad and Tobago were in attendance.

1. General Principles

Article 1-1
Ministers commend the level of economic and trade co-operation between China and the participating Caribbean countries, and firmly believe that there is great potential for further development through the joint efforts of the Governments of participating countries.

Article 1-2
Ministers note that China and the participating Caribbean countries have their own characteristics in economic development and agree that a partnership of economic and trade co-operation should be established on the basis of equality, complementary advantages, trust, mutual benefit and respect. China recognizes the characteristics of small economies and island states of the Caribbean countries.

Article 1-3
Ministers recognizing that China and the participating Caribbean countries share similar interests in the process of economic globalisation with its opportunities and challenges, believe that the establishment of a China-Caribbean Economic and Trade Co-operation Forum will be conducive to co-operation between all participating countries for their mutual benefit in the field of economics, including trade and investment.

Article 1-4
Ministers agree that economic and trade co-operation between China and the Caribbean countries directed by this Guiding Framework within the Forum shall not affect the process of regional integration, nor shall it hinder participating countries from ,implementing their obligations under any international treaties.

2. Co-operation between Governments

Article 2-1
Bilateral consultations between China and each participating Caribbean country shall be strengthened and improved through increased high-level communication, exchange of visits, and consultations by senior level officials, so as to identify new fields and methods of economic and trade co-operation, including discussion and establishment of mechanisms for consultation on multilateral economic and trade issues.

Article 2-2
Greater efforts shall be made to develop bilateral relationships and to revitalize co-operation in the economic field within the framework of existing bilateral consultation mechanisms.

Article 2-3
All mechanisms established within the Forum will be regarded as complementary to existing bilateral consultation mechanisms and will consistently enhance linkages between governments.

Article 2-4
All participating countries agree to enhance co-operation, offer mutual support and coordinate positions, where possible, in the World Trade Organization and other multilateral trade-related areas.

3. Trade

Article 3-1
Expansion of trade between China and participating Caribbean countries is the common goal and all countries participating in the Forum shall endeavor to conclude and actively implement bilateral trade agreements consistent with international trade rules on the basis of equality and mutual benefit.

Article 3-2
The consultation mechanisms established within the Forum provide a platform for facilitating companies of participating countries thereby fostering a favorable trading environment.

Article 3-3
Support shall be rendered to participating countries to hold specific product/service expositions and other forms of co-operation to expedite the entry of their products and services into the markets of other participating countries.

Article 3-4
Communication between relevant organizations and institutions of participating countries, such as chambers of commerce, guilds and fora of entrepreneurs shall be promoted, and information exchanges about markets, commodities, services and trade shall be enhanced in order to increase bilateral trade.

Article 3-5
In recognition of the increasing importance of trade in services in respective countries, efforts should be made, in accordance with their national legislation, to promote the most favorable conditions for strengthening trade in services between China and the Caribbean.

4. Investments and Enterprises Co-operation

Article 4-1 .
Efforts shall be made to improve the investment climate of all participating countries and establish a legal framework which is conducive to investment promotion and protection. This should include the signing' and implementation of bilateral agreements on investment promotion and protection and on the avoidance of double taxation.,

Article 4-2
Efforts shall be made to encourage and facilitate enterprises from different countries to make investment and conduct co-operation in the fields of common interest and, through the establishment of all kinds of enterprises, make contributions to the economic development of all participating countries.

Article 4-3
Advancement in information technology shall be utilized to facilitate the exchange of trade and investment related information between enterprises of the participating countries.

5. Co-operation in Agriculture

Article 5-1
Mutually agreed measures shall be adopted in order to foster co-operation in the field of agriculture including fishery between China and the participating Caribbean countries.

Article 5-2
Enterprises shall be encouraged to enter into joint venture partnerships in agriculture, including fishery. Priority shall be given to encouraging co-operation in the study and formulation of agricultural development programs, transfer of technical expertise, construction of agricultural infrastructure, manufacture of machines for agricultural use, processing of agricultural products, fishery and plant propagation as well as assessment and sustainable use and development of fishery resources.

Article 5-3
Experience of all 'participating countries in the development of agriculture including fishery shall be shared with a view to facilitating investment, technical co-operation and co-operation between enterprises.

6. Co-operation in Tourism and Transportation

Article 6-1
China and the participating Caribbean countries envision great potential in tourism and co-operation in this field shall be actively promoted. The experiences of all participating countries in the development of tourism shall be shared with a view to attracting and facilitating investment and co-operation between enterprises. Priority shall be given to promotion of land-based tourism including eco-tourism, and cruise tourism, co-operation in hotel construction, operation and management, and the processing and production of tourism handicrafts.

Article 6-2
The participating Caribbean countries shall be granted Approved Destination Status for Chinese citizens.

Article 6-3
Bilateral consultations between relevant institutions of China and the participating Caribbean countries shall be promoted in order to explore the possibilities of civil aviation services compatible with multi-destination tourism.

7. Co-operation in Finance

Article 7-1 .
Efforts shall be made to exchange experiences in the financial services including banking and insurance industries.

Article 7-2
Co-operation shall be promoted for the suppression of money laundering and other transnational organized crimes. Experience in and information of financial regulation and supervision shall be exchanged.

Article 7-3  
Co-operation between the Chinese financial institutions including banking and insurance enterprises and their counterparts in the participating Caribbean countries including the Caribbean Development Bank shall be enhanced.

8. Co-operation in Engineering and Infrastructure Construction

Article 8-1
Efforts shall be made actively to encourage and promote discussion among enterprises from all participating countries to explore different types of co-operation in the fields of transportation, electric power, wind and solar power technology, communication, water supply, water processing and urban planning, and to facilitate co-operation in the above-mentioned fields.

9. Co-operation in Natural Resources

Article 9-1 
Exchanges and co-operation in the field of natural resources shall be strengthened, and efforts shall be made to realize optimal utilization of resources on the basis of sustainable development. 

Article 9-2
Co-operation in the sustainable exploitation and utilization of natural resources shall be promoted on the basis of mutual benefit.

10. Co-operation in the Development of Human Resources

Article 10-1
Co-operation in the development of human resources and personnel exchanges shall be promoted and improved to enhance trade and to foster mutual understanding and friendship between China and each participating Caribbean country.

Article 10-2
Specific training schemes shall be made available in most fields involved in this Forum. Specific projects shall be put forward, and co-operation in the fields of education and vocational skill training, as well as language training, shall be developed. 

11. The Subsequent Conferences of the Forum

Article 11-1
Ministers agree that the Ministerial Conference of the Forum shall be held at least every four years or such other period as the participating countries may agree from time to time.