Finance and trade were the principal topics of a high-level meeting between Prime Minister Dr Keith Rowley and His Excellency Zhou Xiaochuan, Governor of the People’s Bank of China and Chairman of the Monetary Policy Committee today.
The discussions were aimed at strengthening the bilateral relations between Trinidad and Tobago and China towards fostering mutual interests in finance and commerce.
Prime Minister Rowley says he welcomes Chinese interest in expanding into areas of regional trade where Trinidad and Tobago has a geographic and commercial advantage.
Trinidad and Tobago currently owes the People's Republic of China TT$2.229 billion dollars, according to Minister of Finance Colm Imbert.
The debt is in the form of loans and financing facilities as at January 31st, 2018.
The debt includes the construction of the National Academy for the Performing Arts and Southern Academy for the Performing Arts.
The outstanding debts from loans for the two are $440,295,212 and $180,835,533 respectively.
The debt own on a loan for the construction of the Couva Hospital currently stands at $924,511,500.
The passenger ferry, the Galleons Passage, which was expected to set sail to T&T last Friday is still docked in China as delivery of the new Catamaran is being finalised with the National Infrastructure Development Company (NIDCO).
On February 5, Finance Minister Colm Imbert posted on his Twitter account that delivery date of the Galleons Passage “is now set for Wednesday, February 7th, 2018,” and that the vessel “is scheduled to set sail for Trinidad and Tobago on February 9th, 2018.”
Stop trying to embarrass the Chinese government!
A visibly frustrated Dr. Keith Rowley told this to the opposition bench in the lower house this afternoon.
During the prime minister's question time, Dr. Rowley was asked about the withdrawal of an invitation by the communist party of China for a high-level meeting with 9 other world leaders.
That has since been replaced by a state visit at a date to be announced next year.
But Dr. Keith Rowley says to use the term withdrawal of an invitation is incorrect.
The reason why the Chinese Government withdrew the invitation to Prime Minister Dr Keith Rowley to attend high-level meetings in China and replaced it with an Official Visit next year, was because the Chinese Government downgraded the scope of the high-level meetings.
The Ministry of the Attorney General and Legal Affairs has announced that Chinese officials have withdrawn the invitation to Prime Minister Dr Keith Rowley to attend a 'high-level meeting' in China this year.
A statement by the ministry says the prime minister has instead been invited to visit China on a State Visit next year.
Last week Minister Stuart Young announced that the prime minister would attend the high-level meeting and then proceed immediately on a state visit.
Huawei has released its audited financial results for 2016, reporting that its Carrier, Enterprise, and Consumer business groups (BGs) each achieved solid year-on-year growth.
Group annual revenue was CNY521.6 billion (US$75.1 billion), an increase of 32% over 2015.
Net profits were CNY37.1 billion (US$5.3 billion), an increase of 0.4%.
In 2016, Huawei continued to invest in the future, with the company's annual spending on research and development reaching CNY76.4 billion (US$11 billion).