06 November 2016

Virgin Islands Premier leads delegation to China

Economic Cooperation Agreement signed with City of Tianjin 

Caribbean News Now!

The BVI government and the administration commission of the Tianjin Binhai New Area CBD sign a strategic cooperation agreement on October 21 in Tianjin.

By Natalie Hodge

TIANJIN, China -- The BVI Asian Trade Mission, led by premier and minister of finance, Dr Orlando Smith, has resulted in a pledge for strategic cooperation between the government of the British Virgin Islands and the Administration Commission of the Tianjin Binhai New Area Central Business District (CBD).

The BVI government and the administration commission of the Tianjin Binhai New Area CBD signed a strategic cooperation agreement on October 21 in the Chinese port city of Tianjin

Under the terms of the agreement, the BVI and the Tianjin Binhai New Area pledge to develop long-term cooperation with mutual understanding, respect of, and support for each other’s development strategies, systems of management and operation as long-term strategic partners.

Tianjin Binhai New Area is one of China’s special economic zones, set up in 2010 and located on the coast of the Bohai Sea, east of Tianjin’s main urban area, where experimental reforms are taking place.

At the signing ceremony, Smith said it is a historic moment for the BVI, adding, “We are both port cities so to speak – notwithstanding that the BVI is entirely surrounded by water -- we are both keen to promote our financial services, our tourism, technology, a special economic zone and perhaps most significantly, we are jointly committed to supporting China’s Go Global Strategy. Today I am pleased to confirm that our joint aim is to strengthen Chinese enterprises investment in the BVI, and to promote economic and trade cooperation between China and the BVI.”

Member of the Standing Committee of the CPC Central Committee of Binhai New Area Tianjin and party secretary and director of the CBD Administrative Commission, Wei Ming Zheng; deputy director of the CBD Administrative Commission, Ji Ping Shi; and officials of the Financial Service Bureau of the CBD Administrative Commission attended Friday’s signing ceremony.

At a BVI road show event later in the day, the premier gave a keynote address on the topic: “Pursuing Global Success with BVI as Your International Partner of Choice”.

Also, Conyers Dill & Pearman Partner, Anna Chong, delivered a presentation titled “The Belt and Road Initiative: How the BVI Facilitates the Investment Opportunities”. Deputy group managing director, OIL, Simon Filmer, also presented on the topic: “The BVI: At the Cutting Edge of Incorporation”.

Permanent Secretary, Premier's Office, BVI government, Brodrick Penn, moderated a panel discussion titled, “The BVI Advantage in the Capital Markets”. Joining Penn as panelists were counsel, Jones Day, Carson Wen; and Campbells partner, Marianne Rajic. Following the discussion, Rajic delivered a presentation titled “The BVI Advantage in Litigation”.

Managing director, AMS Financial Services, Claire Abrehart, presented “The BVI: Balancing Client Confidentiality with International Compliance”.

Closing the roadshow was a panel titled “The Enduring Competitiveness of the BVI” moderated by Filmer. Panelists included financial secretary, BVI government, Neil Smith; Abrehart; Penn; and Wen.