AMBASSADOR of the People’s Republic of China, Mr. Yu Wenzhe has lauded his country’s strong and growing relationship with Guyana, with China emerging as Guyana’s fifth largest import trade partner and one of its main non-traditional export markets. He was addressing guests at a dinner, last Wednesday night, hosted by the Georgetown Chamber of Commerce and Industry (GCCI) to launch the third edition of Business Guyana, an investor’s guide to transactions here.
The envoy used the opportunity to examine the future of their economic and trade ties, noting that this was the first English-speaking Caribbean country to establish diplomatic connections with China, 40 years ago.
Mr. Yu said concerted efforts by both sides and the active participation of the commercial community proved fruitful and are expanding at an accelerated pace.
He said that direct Chinese investments in Guyana reached US$183M last year and bilateral trade between the two countries was valued at US$147 in 2011, an increase of 46.3 percent.
The Chinese envoy said China has emerged as Guyana’s fifth largest import trade partner and one of its main non-traditional export markets.
Economic cooperation has grown, too, from infrastructure, agriculture, timber and minerals to the field of modern information and communication technology (ICT), Yu said.

GROWING
He said business exchanges and contacts between the two countries are also growing and some 30 Guyanese entrepreneurs attended the Canton Trade Fair recently, while four Chinese companies participated in the just concluded third International Building Expo in Guyana.
Ambassador Yu called on local business leaders to tap into the potential of the existing economic and trade cooperation between the two countries, advising that businesses should make use of the available mechanisms and platforms through communication between entrepreneurs of the two countries.
Among them are the China-Caribbean Economic and Trade Cooperation Forum, the China-Guyana Joint Commission on Economic and Trade Cooperation, the China Import and Export Fair (Canton Fair), the China International Fair for Investment and Trade in Xiamen (CIFIT) and the China (Beijing) International Fair for Trade in Services.
Yu invited interested business leaders to  participate in the Autumn Canton Fair to be held on October 15 and the Fair for Investment and Trade in Xiamen on September 8.
He said interested persons can contact the Economic and Commercial Office of the Chinese Embassy on Mandela Avenue, Georgetown, for more information.
Mr. Yu noted that with China, currently, implementing its 12th five-year Plan for National Economic and Social Development, its focus is on accelerating the expansion of bilateral trade volume, especially in areas such energy, environment, agriculture, minerals, tourism and telecommunications.

WELCOMES
He said China welcomes Guyanese companies to invest and establish businesses there and government and the business community should work together to create a more favourable environment for investment.
Over the years, China has been providing aid and assistance to Guyana, to help its national, economic and social development and also to improve the peoples’ living standards, Yu said.
He added that China has provided both financial assistance and scholarships since 1973 and, this year, 11 students will go to China to study.
The envoy also revealed that Guyana is the only country in South America to have received Chinese medical doctors, 120 of them having served here, so far.