The Barbados Chamber of Commerce & Industry (BCCI) and the China Council for the Promotion of International Trade (CCPIT) have signed a memorandum of understanding (MOU) aimed at promoting trade and economic cooperation between the two entities.
CCPIT was established in 1952 and is described as the most prestigious and largest of China’s many foreign trade-related bodies operating in the People’s Republic of China.
The national organization serves as a combination of a chamber of commerce and an investment and export promotion agency, with a vast national and provincial network and representation from every major economic sector.
BCCI president Lalu Vaswani and vice president of CCPIT Song Chijun signed on behalf of their respective organizations. Vaswani added that the MOU was the fruit of the BCCI’s attempt to build international bridges.
Executive director of the BCCI, Lisa Gale, said the MOU was geared towards building an economic cooperative where BCCI and CCPIT members could trade with each other, share information on local economic investments, develop market access and foster stronger business relations between Barbados and China.
“This is a great opportunity for Barbados and an unprecedented move for BCCI members, as local companies now have the facility for direct contact with companies in China, which is a huge market,” Gale explained. (PR)
