Jamaica signs US$500 m accord with China

JAMAICA and China this week signed agreements valued at more than US$500 million for the construction of 'affordable' houses, road repairs and rehabilitation, as well as shoreline protection and rehabilitation on the Palisadoes roadway.

The agreement also covers the construction of a Chinese Garden at the Hope Botanical Gardens.

The signing took place at a special ceremony at the Great Hall of the People in Beijing, China. Minister of Foreign Affairs and Foreign Trade Dr Ken Baugh signed for Jamaica, while the vice-minister from China's Ministry of Commerce, Fu Ziying, and the chairman and president of the EXIM Bank of China, Li Ruogu, signed on behalf of the Government of China.

The agreements were signed after an official meeting with China's Premier Wen Jiabao, Prime Minister Bruce Golding and members of the Jamaican delegation.

Golding, who was on an official visit to Beijing, China, met with Government officials and heads of both state-owned and private sector agencies in China.

Golding told the Chinese business community that he wanted to establish a new phase of relations between Jamaica and China, with the intention of marketing Jamaica as a preferred investment destination for Chinese business persons.

Golding, who is expected to return home today, was scheduled to hold meetings with Chinese President Hu Jintao and Vice-president Xi Jinping.

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