…PM predicts strong energy ties


Prime Minister Kamla Persad-Bissessar is predicting a strong energy relationship between this country and the People’s Republic of China.


“My Government is actively seeking to penetrate new markets regionally and internationally, and we see China as a key business partner and a potential new market for our energy products.


“Alternative and renewable energy research and development is also high on our developmental agenda, and we welcome the involvement of the Chinese in this area,” Persad-Bissessar told the media yesterday at the Diplomatic Centre, St Ann’s. 


She said: “We noted China’s increased involvement in our energy sector with the entry of Sinopec Overseas Oil and Gas Ltd (SOOGL) into the local petroleum sector, and in 2011 the acquisition of a ten per cent stake in Trinidad-based natural gas producer Atlantic by the China Investment Corporation, a Chinese Government special purpose company.


“The recent agreement signed between Lake Asphalt Trinidad and Tobago Ltd and the China Railway Construction Caribbean Company for the supply of asphalt to the Chinese market for a three-year period is of benefit to our two countries,” she added.


The Prime Minister added that her Government has been trying to diversify Trinidad and Tobago’s  economy, and identified six business clusters for the diversification of the local economy—the maritime industry, the energy industry, food sustainability, creative industries, tourism and financial services.  


“We discussed how we might cooperate with Chinese firms with regard to the transfer of technical expertise in our efforts to develop the maritime industry in Trinidad and Tobago. Our embassy in China would be of great assistance in developing these business contacts. 


We raised the possibility of developing with China a competitive shipbuilding and repair industry locally,” she added.


Source: Trinidad Express