THE Government yesterday signed a Memorandum of Understanding with the People’s Republic of China on that country’s Belt and Road Initiative (BRI), to deepen cooperation and partnership between the two nations for economic development.
The BRI, now in its fifth year, is a new model of international development cooperation, promoting ‘connectivity’ across countries and regions.
Speaking at the signing yesterday afternoon, Foreign Affairs Minister Senator Kamina Johnson Smith said BRI provides a powerful framework to ensure that development cooperation brings shared benefits to China and its partners, including Jamaica.
She noted that over the past 47 years, Jamaica and China have forged a mutually beneficial and dynamic partnership, and currently enjoy a robust and dynamic cooperation programme. This has resulted in many tangible outcomes such as the acquisition of Alpart in 2016 by Chinese entity Jiuquan Iron and Steel Company (JISCO), and the proposed development of an Industrial Park and Special Economic Zone alongside the JISCO/Alpart operations in Nain, St Elizabeth, as well as the completion of two state-of-the-art early childhood institutions.