During a virtual seminar discussing economic ties between China and the Caribbean, former government minister Dr. Bhoendradatt Tewarie raised the question of whether Caribbean leaders would capitalize on the opportunity to strengthen their connections with China. Tewarie highlighted China’s strategic interest in the Caribbean region, noting the release of a document by the ruling Communist Party of China in 2008 outlining its perspective on Latin America and the Caribbean within its foreign policy framework. He emphasized China’s increasing presence in the Caribbean and Latin America across trade, investment, and development.
Tewarie pointed to Chinese President Xi Jinping’s visit to the Caribbean in 2013 as a significant milestone in China-Caribbean relations, noting Xi’s meetings with leaders from Caricom nations aligned with China. He underscored the importance of this visit as a means for Xi to familiarize himself with countries deemed significant by China in the Western Hemisphere.
Highlighting the longstanding diplomatic relations between China and Trinidad and Tobago (T&T) since 1974, Tewarie mentioned the signing of a memorandum of understanding during Xi’s visit, facilitating collaboration between T&T and China in areas of mutual interest such as infrastructure and energy.
Regarding China’s investments in the Caribbean, Tewarie noted that China has invested over $10 billion in various Caricom nations, indicating a growing interest in trade, investment, finance, and development projects spanning the region.
Tewarie emphasized China’s significant role as a financial lender for energy and infrastructure projects in Latin America, surpassing traditional financial institutions like the World Bank, Inter-American Development Bank, and International Monetary Fund. He urged Caribbean nations to be mindful of these trends and to leverage their relationships with both the US/Europe and China for economic growth.
Tewarie suggested that the Caribbean has yet to fully exploit the opportunities for growth provided by initiatives like the US’s Caribbean Basin Initiative and similar agreements with the European Union, urging Caribbean nations to fortify their ties with China while maintaining existing relationships.
