| Brief Introduction of Economic and Trade Ties Between China and Bahamas |
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| 2007-08-31 15:28 |
The bilateral economic and trade cooperation between China and Bahamas has progressed smoothly since the establishment of diplomatic relations on 23 May 1997. Both countries signed the Maritime Agreement in 2003.
Bilateral trade
Bahamas is one of the important trade partners of China in Caribbean region . According to the statistics of China Customs, the bilateral trade volume in 2006 achieved USD165 million, up 5.8% year-on-year. Among them, China import reached USD68,000, down 63.9% and export reached USD165 million, up 5.9%. During Jan.-June 2007 the bilateral trade volume between China and Bahamas stood at USD110.515 million, up 117.0% over the same period of 2006. Among them, China import reached USD64000, up 999% and export reached USD110.451 million, up 116.9%. The main export commodities from China to Bahamas include watercraft, steel & iron product and textile, while the imports from Bahamas are steel and leather, etc.
Economic cooperation for mutual benefit
MOFCOM statistics indicated that by the end of June 2007 Chinese enterprises had accomplished a turnover of USD23.19 million from project engineering and labor service in Bahamas. The actual investment from Bahamas to China totaled USD666 million while the direct investment from China to Bahamas amounted to USD14.69 million. |
