‘Deepening relationship’ between China, Cayman Islands cited

From left, Cayman Islands Premier Alden McLaughlin and Chinese Ambassador to the United Kingdom Liu Xiaoming with Bermuda Premier Michael Dunkley and British Virgin Islands Premier Orlando Smith at the Joint Ministerial Council meeting in London.

Cayman Islands Premier Alden McLaughlin met with Chinese Ambassador to the United Kingdom Liu Xiaoming Monday at the Chinese Embassy in London to discuss a “deepening relationship” between China and the British Overseas Territories.

Cayman’s Financial Services Minister Wayne Panton attended the meeting, along with Bermuda Premier Michael Dunkley and British Virgin Islands Premier Orlando Smith.

With the separation of the U.K. from the European Union on the horizon, Mr. Liu said it was a good time for China to work with the U.K. – and by extension the Cayman Islands – to broaden its global business interests. He said he would encourage China’s business leaders to look to the Cayman Islands for opportunities to expand business cooperation.

Premier McLaughlin said there are already significant Chinese investment and business relationships in Cayman.

Mr. Liu was in Cayman last month and confirmed that China would implement an agreement to grant Cayman “most favoured nation” status in registering ships entering Chinese ports. That status means concessions implemented will serve to reduce port fees paid by Cayman Islands-flagged ships.

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