Government Signs Development Cooperation Framework Agreement with China

The Government of Jamaica has signed a Framework Agreement with The People’s Republic of
China for development cooperation on production capacity and investment. The agreement
was signed by the Minister of Industry, Commerce, Agriculture and Fisheries, Hon. Karl
Samuda and Vice Chairman of the National Development and Reform Commission of The
People’s Republic of China, H. E Mr. Ning Jizhe at the ministry’s 4 St. Lucia Avenue offices on
Thursday, February 16, 2017.
The Framework Agreement covers a range of areas related to cooperation on investment,
construction and infrastructure, cement manufacturing, resource processing, equipment
manufacturing and light industry, among others. It also seeks to encourage financial
institutions in Jamaica and China to provide services such as financing, co-financing and longterm
insurance for bilateral cooperation in building production capacity.
In addition, it outlines a commitment to encouraging companies on both sides to cooperate on
projects through various types of instruments. These include investment, Build-Operate-
Transfer (BOT), Public Private Partnership (PPP), project contracting and equipment export, all
within existing laws and procedures.
Minister Samuda said the agreement will prove mutually beneficial to Jamaica and China and
may be viewed as an expressed commitment to the deepening of South-South cooperation
between the two countries.
“It is also a signal of the Chinese Government’s continued confidence in Jamaica as a nation
with which it can create a meaningful partnership for the future,” said Minister Samuda.
Minister Samuda also noted that the arrangement will assist Jamaica in expanding its
production capacity, unlocking financing opportunities and promoting investment in critical
areas.
-30-
Contact: Karlene Brown Tel: 968-8669

• ‹ Previous
• Next ›