| Brief Introduction of Economic and Trade Ties Between China and Barbados |
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| 2007-08-31 15:30 |
The bilateral economic and trade ties between China and Barbados has developed smoothly since the establishment of diplomatic relations in 30 May 1977. So far the bilateral agreements signed by both countries are Agreement on Encouragement and Reciprocal Protection of Investment in 1998, and Agreement on the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income in 2000.
Bilateral trade
According to China Customs’ statistics, the bilateral trade volume in 2006 stood at USD75.89m, up 291.2% year-on-year. Among them, China export reached USD75.6m, up 293.9% and import reached USD290,000, up 39.3%. The bilateral trade volume during Jan.-June 2007 stood at USD16.324m, showing a drop of 59.6% compared with the same period of 2006. Among them, China export was USD15.961m, down 60.4% and import reached USD363,000, up 361.4%. The main commodities exported from China to Barbados include electromechanical products, textile, clothing, light industrial products, etc.
Economic cooperation for mutual benefit
According to the statistics of MOFCOM, by June 2007, the actual investment from Barbados to China amounted to USD1.06b and the investment from China to Barbados reached USD1.65m. Chinese enterprises fulfilled a turnover of USD124.58m from project engineering and labor service in Barbados. |
