China attaches importance to developing economic and trade ties with Guyana and is willing to discuss ways of exploring new channels to expand bilateral cooperation.

President Hu Jintao made the remarks when meeting visiting Guyanan counterpart Bharrat Jagdeo Thursday afternoon, saying he believed the visit would further promote mutual understanding and friendship between the two countries.

Hu said there is great potential in bilateral economic cooperation and the two nations complement each other on economic development.

China and Guyana enjoy a wide range of economic and technical cooperation. Major cooperative projects include industry and agriculture, such as Bel-Lu Claybrick Factory, Sanata Textiles Limited, Model Duck-breeding Factory and Moco Moco Hydropower Station.

According to statistics of China General Administration of Customs, trade volume between China and Guyana in 2001 totalled US$14.78 million, with China's exports reaching US$12.41 million and imports hitting US$2.37 million.

Guyana was the first English-speaking Caribbean country to establish diplomatic relations with China.

The two states have enjoyed smooth, long-term and friendly relations with a frequent exchange of high-level visits and close cooperation in the international arena.

Jagdeo said he appreciated China's support to his country's development, noting that Guyana and China share similar views on many international issues and have sound cooperation in the United Nations and other international organizations.

Jagdeo called on developing countries to enhance cooperation when handling political and economic unilateralism in the world.

Hu said China understood the challenges that Caribbean countries face in the process of global economic integration.

He added China supports their efforts in this regard and is willing to develop friendly relations with Caribbean countries on the basis of equality and mutual benefit.

Guyana is a member of the Latin America Economic System which aims at promoting regional cooperation in Latin America, furthering regional integration, and carrying out projects for economic and social development.

(China Daily March 28, 2003)