Trinidad & Tobago sign new Cooperation deal with China
Provision of grant aid by the Government of China to the Government of Trinidad and Tobago agreed on as cooperation between the People’s Republic of China and the Republic of Trinidad & Tobago is set to continue in the future.
On Jan. 8. 2020 the ministry of foreign affairs announced in a press release that “Senator Dennis Moses, Minister of Foreign and CARICOM Affairs hosted a Signing Ceremony for the Agreement on Economic and Technical Cooperation between the Government China and the Government of TT on Tuesday 7th January 2020 at the Ministry of Foreign and CARICOM Affairs, St. Clair Circle, St. Clair, Port of Spain.”
What does the new cooperation agreement mean or entail?
According to the press release, the agreement “entails the provision of grant aid by the Government of China to the Government of Trinidad and Tobago for the operationalisation of the National Forensic Testing Centre and for the implementation of other projects agreed upon between both Governments.”
Debt to China increasing.
TT currently has over $2billion in debt to pay China. The debt is for several construction projects like the Brian Lara Stadium and the National Acadamy of Performing Arts (NAPA). Despite this far more multimillion-dollar Chinese funded and built construction projects are set to take place in the future. Among these projects include the La Brea port and dry dock and the renovation of the Port of Spain general hospital. Such massive projects (and others) will push TT’s debt to China to over an estimated $8billion.
The relationship between China and TT continues to blossom while many members of the public fear the repercussions of taking on more Chinese debt.
Full Press release below:
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