| Brief Introduction of Economic and Trade Ties Between China and Guyana |
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| 2007-08-31 15:16 |
China and Guyana established diplomatic relations on 27 June 1972. Since then the bilateral economic and trade cooperation has progressed smoothly. China and Guyana founded the mixed committee of economic, trade and technology cooperation in 1984. So far, nine sessions of the mixed committee have been carried out. Up to now, the economic and trade agreements signed by both countries are Trade Agreement signed in 2001 and Agreement on Encouragement and Reciprocal Protection of Investment signed in 2003.
Bilateral trade
According to the statistics of China Customs, the bilateral trade volume between China and Guyana in 2006 reached USD99.186 million, up 185.2% year-on-year. Among them, China import reached USD17.682 million, up 133.6% and China export reached USD81.504 million, up 199.6%. The bilateral trade volume during the first half of 2007 achieved USD45.072 million, up 76.3% over the same period of 2006 with China import of USD11.447 million and export of USD33.625 million, up 135.9% and 62.3% respectively. The main commodities imported by China from Guyana include wood and woodwork, and products exported from China to Guyana are base metal& metal ware, textile, electromechanical video equipment, bicycle, motorcycle, etc.
Economic cooperation for mutual benefit
Chinese enterprise started project engineering and labor service cooperation with Guyana in1986. By the end of June 2007 China had accomplished a turnover of USD182.57 million from project engineering and labor service cooperation with Guyana. The actual investment from Guyana to China amounted to USD100,000 and the direct investment from China to Guyana totaled USD50.288m. |
