Three shipments of Angostura Limited products – two from Trinidad and Tobago and one shipped from the Netherlands – are assisting the local manufacturer to generate foreign exchange for the local economy.
Minister of Trade and Industry, Paula Gopee-Scoon, joined officials from the Chinese Embassy and the local manufacturing sector in closing off the third shipment on Friday.
“The Agreement between Angostura and Hangzhou Limited is for the importation, the marketing, and distribution of Angostura’s rums and bitters to the People’s Republic of China. And again, this Agreement marks the milestone for the company’s re-entry into the Chinese market with its premium rums and bitters portfolio and I am understanding that there is discussion about other products as well.”
Minister Gopee-Scoon said the earlier shipments were valued at TT$3 million.
“With these shipments, Angostura aims to penetrate the cocktail market segments and cement Angostura bitters and rums as a key ingredient in China’s rising cocktail industry.”
The People’s Republic of China’s Charge d’Affaires to Trinidad and Tobago, Yang Han, said the China International Import Expo allowed this country to showcase its products to the Chinese people.
“Trinidad and Tobago’s products are gaining increasing attention and recognition in the Chinese market and last month, Trinidad and Tobago celebrated its fourth consecutive participation CIIE held in Shanghai which attracted nearly 3,500 enterprises from 152 nations, regions, and international organisations.”
China’s Charge d’Affaires said this country is making a positive impact on the Chinese market.
“The volume of bilateral trade has witnessed continuous increase rising from a modest sum from tens of US dollars in 1957, to and impressive 1.34 billion US dollars in 2023 and this growth marks a significant milestone making Trinidad and Tobago the first English-speaking Caribbean nation to surpass the billion-dollar threshold.”
It was noted that the shipment which left Trinidad and Tobago on December 20th is expected to arrive in China in February 2025.