Jamaica lands $500M China Deal

The governments of Jamaica and China have signed agreements valued more than US$500 million, a release from the office of the island’s prime minister said Thursday. The agreements cover the construction of affordable housing, road repair and rehabilitation as well as shoreline protection and rehabilitation on the Palisadoes roadway which links the island’s main airport to the capital, Kingston.

The agreement was signed Wednesday (Feb 3) at the Great Hall of the People in Beijing , by Jamaica’s Minister of Foreign Affairs and Foreign Trade, Dr Ken Baugh, vice minister from China ’s Ministry of Commerce, Fu Ziying and the chairman and president of the EXIM Bank of China , Li Ruogu.

The agreements were signed following an official meeting between China ’s Premier Wen Jiabao, Prime Minister Bruce Golding and members of the Jamaican delegation. The prime minister, who is on an official visit to China, has been conferring with Chinese government officials and heads of state-owned and private sector agencies.

The release said Golding told the Chinese business community that his aim is to establish a new phase of relations between Jamaica and China with the intention of marketing Jamaica as a preferred investment destination for Chinese businesses.

The prime minister was scheduled to meet President Hu Jintao and Vice President Xi Jinping before the visit ends Friday.

     

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