China's Xi talks energy in Trinidad

China's Xi talks energy in Trinidad

Chinese President Xi Jinping held talks on the Asian giant's energy needs with leaders of Trinidad and Tobago, as he prepared to wrap up Sunday his first stop on a regional tour.

The Prime Minister of Trinidad and Tobago Kamla Persad-Bissessar (L) and China's President Xi Jinping are pictured before a meeting at the National Academy for Performing Arts (NAPA) in Port-of-Spain, Trinidad and Tobago, on June 1, 2013.

"We both agree to actively advance cooperation in key areas such infrastructure development, energy and minerals and also to continue to advance our cooperation in new areas of mutual and beneficial cooperation such as agriculture, telecommunications and new energy," Xi told reporters after talks with Prime Minister Kamla Persad-Bissessar and President Anthony Carmona.

"Today is a historical day in for us," Persad-Bissessar said, hailing this landmark first visit by a Chinese president to her Caribbean nation of 1.3 million, a former British colony just off Venezuela's coast.

She stressed that China was a "key business partner and potential new market" that was increasingly involved in Trinidad's energy sector.

"Today we have signed a number of agreements with China. In this regard, we seek to deepen bilateral collaboration in the areas of trade and investment, energy, technical cooperation and cultural exchanges," Persad-Bissessar added.

Trinidad, which has vast oil resources as well as natural gas, earns 40 percent of its income from the energy sector, which makes up 80 percent of its exports, according to government data.

Energy Minister Kevin Ramnarine said that energy cooperation could be a boon to both nations, noting that China's dependence on energy is "growing as their economy grows."

China is the largest consumer of energy. And most of that energy in China comes from one source, coal.

"Coal, as you know, is not the cleanest fuel and this has impacted on the environment in China," Ramnarine told reporters Friday. "There is a strategy in China to move the country away from coal and toward (cleaner) natural gas."

Xi, who arrived here on the first leg of a Latin America and Caribbean tour aiming to strengthen Beijing's trade ties in the region, heads to Costa Rica and Mexico, ahead of a June 7-8 summit with US President Barack Obama in California.

His visit to Trinidad follows a trip to Port of Spain on May 27 by US Vice President Joe Biden, who attended a summit with Caribbean leaders. Xi is scheduled to leave Trinidad on Sunday.

China's trade ties with Latin America have surged in recent years as the world's second biggest economy taps into the region's mineral and oil wealth to fuel growth.

Xi -- who took office in March in a once-in-a-decade power transfer in Communist-ruled Beijing -- said ahead of the trip that he had "full confidence in the prospects of China-Latin America relations."

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