St. Lucia: Saint Lucia Manufacturers Association speaks out on what they call a growing Chinese commercial sector, according to a report in the St. Lucia Star.
In a press release the group’s President, Paula Calderon, expressed serious concern that “an influx of Chinese persons” had purchased passports “in some OECS countries and become OECS citizens,” and were operating businesses in the region.
Calderon believes the region’s Heads of Government “are not considering the long-term impact on their people.” She adds: “We are trading with a country that is notoriously unfair in its trading practices. The Chinese do not employ locals, except perhaps just one person to act as a front, and their profits go to China. The incentives they receive from their Government are way better that what many local business people receive when starting a business.”
According to Calderon, “Some manufacturing companies in the OECS have already lost millions of dollars thanks to the Chinese who manufacture the same product. It is impossible to compete with persons who have benefits from their home country which cannot be quantified. If our Heads of Government wish to invite the Chinese to invest in our countries, such investment should be in the manufacturing industry rather than in our retail businesses. Further, the type of manufacturing permitted should not be the same as already exists in our countries.”
The SMA President observed that “in Roseau, Dominica, every other retail store is connected with a Chinese investor…In Saint Lucia they are involved in the retail and small manufacturing business, hitherto the province of local entrepreneurs. The question must be asked and publicly answered by our Governments: Rather than importing fair or unfair competition, shouldn’t our Governments be helping our people purchase Chinese products to be retailed by our people to our people?…The issue of reciprocity must be faced. Can a citizen of an OECS territory purchase a Chinese passport and then go on to open a business in China? We need to look at our foreign investments from an economic point of view and not only from the political view point.”
The St. Lucia Star report said that on Monday, Heads of OECS Governments met in Saint Lucia. It is not clear whether the subject of the SMA press release was on their agenda.
You must be logged in to post a comment.