CHINA INVESTMENT SEMINAR INVOLVES PACIFIC ISLANDS

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PACIFIC ISLANDS FORUM SECRETARIAT Suva, Fiji Islands

PRESS STATEMENT Xiamen, China September 10, 2002

China’s growing trade links with the Pacific Islands were highlighted today at an investment seminar in Xiamen city as part of the China International Fair for Investment Trade.

Heads of investment promotion agencies in the Forum Island Countries were among 50,000 people exchanging business and investment information this week at the annual fair.

The Director General for American and Oceania Affairs in China’s Ministry of Foreign Trade and Economic Cooperation, Mr. Wang Chao, said the trade reflected the growing partnerships between China and the Pacific Islands.

The trade currently favors the Pacific Islands, with China exporting US$ 69 million in goods such as textiles, home appliances and food products. China imports about US$ 130 million in logs, petroleum products, sugar and marine products.

In addition, Chinese manufacturing contracts in the Pacific Islands were valued at nearly US$ 120 million. The Secretary General of the China International Contractors Association, Mr. Pang Lu, said he looked forward to further strengthening of the business ties with the Pacific Islands.

Investor queries at the seminar focused on making business contacts as well as more specific queries relating to fisheries, forestry, food products, tourism and food processing. The seminar outlined the investment climate in the 14 Forum Island Countries including issues such as labor regulations, tax laws, business incentives and infrastructure.

The Forum Island Country (FIC) delegates return to the Chinese capital Beijing on September 11 for the official opening of the Pacific Islands Forum Trade Office. The trade office has been operating since January 2002 and has an active investment promotion schedule in China’s major cities.

For additional information, contact: Ulafala Aiavao at UlafalaA@forumsec.org.fj 

Ulafala Aiavao Media Adviser Forum Secretariat Private Bag Suva, Fiji

Tel: (679) 3220 220; Mob: (679) 9998 674 Fax: (679) 3305 554 Email: UlafalaA@forumsec.org.fj  Web: www.forumsec.org.fj  Mirror site: http://chacmool.sdnp.undp.org/pacific/forumsec/default1.htm 

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