China-Caribbean economic forum to bring new opportunities for bilateral cooperation: official

The Ministerial Conference of the fourth China-Caribbean Economic and Trade Cooperation Forum, set to be held in south China's island province of Hainan, will bring new opportunities for economic and trade cooperation between China and Caribbean countries by spotlighting cooperation in emerging areas, an official with the Ministry of Commerce said on Monday.

At a press conference in Beijing, Lin Feng, Director General of the American and Oceania Affairs Department of the Ministry of Commerce, announced that the conference, co-hosted by the ministry and the Hainan provincial government, will be held in Qionghai City from Sept. 12 to 14.

This event will bring new opportunities for deepening mutually beneficial cooperation between China and Caribbean countries and inject fresh momentum into the economic development of the participating countries, the official noted.

"This conference will focus on cooperation in emerging areas and explore green, low-carbon, and digital technologies to bring new opportunities and models for China-Caribbean economic and trade cooperation, better empowering the cooperation. It will also support Caribbean countries in better implementing the UN's 2030 Agenda for Sustainable Development," Lin said.

"We welcome Caribbean countries to present their policies and visions for developing green, blue, and digital economies, and to jointly explore new approaches for high-quality cooperation between China and the Caribbean," he said.

The China-Caribbean Economic and Trade Cooperation Forum mechanism was established in 2004. Aimed at promoting economic and trade cooperation between China and the Caribbean for mutual development, this forum serves as the highest-level inter-governmental economic and trade dialogue mechanism between China and Caribbean countries.

To date, three sessions have been held: in Jamaica in 2005, in Xiamen City in east China's Fujian Province in 2007, and in Trinidad and Tobago in 2011.

China-Caribbean economic forum to bring new opportunities for bilateral cooperation: official

Wine companies in Italy are anxious as U.S. President Donald Trump signed an executive order on the so-called "reciprocal tariffs," imposing a 20-percent tariff on the European Union.

Giulia D'Alema, head of a family-owned wine business in Italy's Umbria region, is facing significant uncertainty for the upcoming wine sales season following the announcement of tariffs on EU products, including wine.

Her family's 7.5-hectare vineyard has completed its major annual tasks — trimming, tying, and weeding — to ensure healthy grape growth and a fruitful harvest.

However, despite these preparations, D'Alema is troubled by the looming threat of new tariffs on Italian wines exported to the United States.

The United States is a key market for Italian wines, with exports valued at approximately 2 billion euros in 2024 alone.

Yet, the announcement by U.S. President Donald Trump has put this vital export market at risk.

"If tariffs are imposed, U.S. importers won't be able to import my wine because selling my rose will no longer be profitable for them. I've already increased production specifically for this (U.S.) market, so now I have to find other ways to absorb this surplus," said D'Alema.

In the wine-producing region of Umbria in central Italy, it is the small and medium-sized wineries that are hit the hardest. Large enterprises can mitigate risks by adjusting their market strategies, but small family-owned businesses often rely on a single market. The imposition of tariffs creates a great deal of uncertainty for their operations.

In 2024, Italy's bottled wine exports to the United States reached 1.94 billion euros. According to calculations by the largest agricultural association in Italy, the Italian Confederation of Farmers (CIA), if tariffs prevent Italian wines from being exported to the United States, Italian wineries could face daily losses of 6 million U.S. dollars.

Trump's 20 pct tariffs on EU raise concerns for Italian wine export