FICs Establish Business Links With China

FICs Establish Business Links With China

PRESS RELEASE (98/10)

14th October 2010

Private sector representatives from the Pacific region returned from Shanghai recently with new business connections to China developed during the inaugural “China-Forum Island Countries Trade and Investment Symposium,” an initiative of the Pacific Islands Forum Secretariat together with its Beijing Trade Office.

The Symposium coincided with the Shanghai World Expo and brought together Pacific island and Chinese businesses with the aim of strengthening trade and economic cooperation.

“The Shanghai World Expo provided Pacific island countries with a unique opportunity to promote trade and investment to Chinese buyers and investors” said Tuiloma Neroni Slade, Secretary General of the Pacific Islands Forum Secretariat.

“We are grateful for the support provided by the Government of the People’s Republic of China that resulted in this highly successful Trade and Investment Symposium.”

The Symposium was attended by 21 businesses from Samoa, Papua New Guinea, Kiribati, Fiji, Vanuatu, Tonga, Tuvalu, Solomon Islands, Cook Island and Niue representing a range of industries, from tourism related resource development, agriculture, garment, marine resources, and forestry as well as officers from the investment promotion agencies and members of the Pacific Islands diplomatic corps based in Beijing and Shanghai.

Close to 120 Chinese businesses including manufacturers, distributors and investors representing a diverse range of industries including aquaculture farming & processing, timber processing, tourism resource development, commercial property development and management, building materials, renewable energy equipment, textiles, agriculture and investment management attended the one day symposium. It was followed by two days of business-to-business discussions with Pacific island company representatives.

The Pacific Island Forum Secretariat’s Beijing-based Trade Representative Sam Savou led the development of the Symposium.

“The Symposium was an opportunity for the private sector in both the Pacific and China to contribute to the sustainable economic development of the Pacific region,” Mr Savou said.

“It created opportunities for exporters and investors to build closer ties and we have already seen positive financial outcomes for businesses in a number of Pacific island countries as a result of this Symposium.

“It has been extremely successful in promoting stronger economic ties between Pacific island countries and China,” said Mr Savou.

He added: “Some of these early outcomes from the Symposium have been establishing a buyer for Niue Noni and the placement of orders for renewable energy for off-grid micro power supply. The compatibility of these complete micro-solar power kits with the Pacific Islands is its ‘micro’ size, relative low cost and easy set-up.”

There are also three scheduled business delegations to the Pacific Islands later this year as follow-up to discussions with Pacific Island counterparts. A group from Tianjin with interests in fisheries and aquaculture will visit Kiribati in October, a delegation from the Sanmen County Government will visit Fiji in November and a delegation from Shanghai with interests in jewelry among other things will visit the Cook Islands. “

All the Pacific Island delegates have follow-ups from the business-to-business meeting with Chinese counterparts and this will be managed by them directly with the assistance of the Beijing Trade Office where applicable.

Mr Savou added “Feedback from delegates from both the Pacific Islands and China have been constructive, positive and very supportive of similar targeted symposiums being organized in the future on a regular basis to further enhance mutual understanding and economic cooperation between the two sides.”

ENDS.

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