The Pacific Island Countries Investment Cooperation Forum was successfully held on 27 May in the margins of the 14th China Overseas Investment Cooperation Fair at the Beijing National Convention Center. The forum focused on promoting investment opportunities and cooperation between China and Pacific Island countries, specifically development of green industry and the blue economy.
With the theme ‘Building a Blue Partnership and Taking the Road of Green Development’, the forum provided a valuable dialogue platform for promoting sustainable economic ties between China and Pacific Island Countries.
Distinguished guests attending the forum included His Excellency Barrett Sarato, Ambassador of the Solomon Islands to China; His Excellency David Teabo, Ambassador of the Republic of Kiribati to China; and senior officials from embassies in China, including the Republic of Fiji, the Federated States of Micronesia, the Independent State of Samoa, the Solomon Islands, the Republic of Kiribati, and the Republic of Vanuatu.
During his opening remarks, Mr Jiang Yun, Secretary General of China Overseas Development Association, expressed the association’s desire to further promote economic, trade and investment cooperation between China and Pacific Island Countries. H.E. Barrett Sarato, Ambassador of the Solomon Islands to China, acknowledged the strong trade bonds between countries and said, “China and the Solomon Islands have maintained a long-term trade relationship long before the formal establishment of diplomatic relations. Many Chinese entrepreneurs in the Solomon Islands have made significant contributions to the country’s economy, and China remains its largest trading partner, making up 98 per cent of Solomon Islands products imported into China, with special duty-free arrangements.”
Pacific Trade Invest China’s Trade Commissioner, Mr Mona Mato, presented a summary of the PTI China research results of the China Investment Study 2023, to gauge the appetite of Chinese private sector businesses for investment in the Pacific, with a focus on three key industries: ecommerce, agri-technology and green energy. The valuable insights into Chinese industries and investment destinations of interest were key outcomes of the study, while also providing Chinese investors with a deeper understanding of the growth potential and competitive landscape in the Pacific, in order make informed decisions to identify prospective investment opportunities. Mr Mato said, “It was great to see Chinese investors prioritise social and environmental returns over financial returns in terms of investment, which is very encouraging for the sustainable growth of our economies in the Pacific Islands.”
A panel session followed the formal opening, at which experts and business leaders from various industries related to investment proposed opportunities China and the South Pacific region can work towards, to strengthen cooperation and deepen economic ties under the “Belt and Road Initiative”. The panel sessions also discussed initiatives on how to face environmental and climate issues, and create green development opportunities collectively, as well as the advantages and prospects of investment in Pacific Island Countries, and challenges faced by Chinese companies investing in the region.
During his closing remarks, Mr Mato said that “As guardians of our Blue Pacific, we attach great cultural and spiritual value to both. We must jointly protect marine and coastal resources through sustainable management, and protection measures to create a better future for our people. We are here to provide you all with the relevant information and help connect you with authorities and agencies to assist you and our Pacific businesses to grow business opportunities together”.
In closing, Mr Mato took the opportunity to introduce the “Pacific Trade Online” WeChat platform to participants. The mini-program was launched online in 2023 and is an excellent tool to help potential investors better understand the business and economic landscape in the Pacific Islands, and to view the range of trade and investment opportunities in the Pacific region.
The China Overseas Investment Cooperation Fair (COIFAIR) is an annual forum hosted by the China Overseas Development Association. Established 14 years ago, the forum is an important “bridge” connecting Chinese and foreign companies. The China Overseas Investment Cooperation Fair attracts many Chinese and foreign dignitaries and more than 1,000 business representatives from over 100 countries every year.
