Found at: http://www.anguillaguide.com/article/articleprint/7249/-1/140/
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ANGUILLIAN DELEGATION REPORTS ON MEETINGS - Effort To Boost Tourism, Investment, Economy
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Talks with the Chinese Business Network (CBN) on tourism promotion and investment in Anguilla, and with British Government officials on the need for assistance to alleviate the impacts of the global economic crisis on the island, were among matters in which the Anguillian delegation was engaged in London over the past several days.
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Greeting at the FCO: Hon. Osbourne Fleming C.M.-Anguilla; Hon. Chris Bryant Minister for Overseas Territories
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This is according to a press release issued on Tuesday by the delegation headed by Chief Minister Osbourne Fleming. “The Anguilla delegation met a number of potential investors…with the Chinese Business Network (CBN) [and] an agreement was signed with CBN for tourism promotion of Anguilla in China,” the release stated. “Anguilla is a potential alternate tourist destination for Chinese nationals who are estimated to travel for leisure purposes in numbers of about 50 million in 2010. One of the objectives of the agreement is for CBN to assist in directing potential Chinese investment to Anguilla.”
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Anguilla Delegation with Chinese Business Network Official
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The press statement continued as follows: “The Chief Minister also signed a Tax Information Exchange Agreement with the United Kingdom…prior to his meeting with the Minister of Oversees Territories, Chris Bryant. This agreement will assist Anguilla in meeting its international obligations, and is critical to the success of Anguilla as an international financial centre.
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Signing of UK – Anguilla Tax Information Exchange Agreement: Hon. Chris Bryant & Hon. Osbourne Fleming
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“Mr. Fleming indicated to the Minister for the Overseas Territories that the unprecedented global economic downturn has hampered Anguilla’s development tremendously. In particular the number of low tourist arrivals, the inability of the locally-owned tourism projects to access foreign capital, the challenges of the foreign investors and potential real estate buyers to secure financing, and the impact of reduced activity in the construction sector, have all resulted in the fall off of several government revenue streams this financial year.
“The Government’s reserves have had to be used throughout this year to meet its commitments to vendors, government agencies, service providers and public servants to name a few.
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Signing of Chinese Business Network Agreement: Dr. Aidan Harrigan; Hon. Victor Bank; Hon. Osbourne Fleming.
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“The Anguilla delegation is attempting to secure the agreement of the Foreign and Commonwealth Office to relax the borrowing guidelines, and thereby allow the Government to borrow funds that will create a bridge over this period of uncertainty in the global financial environment. The approval for such a facility is being pursued to enable the Government of Anguilla to implement its financial and economic recovery plan to ensure that Anguilla is able to weather the impacts of the global recession over the next twelve months.”
According to the press release, the meetings continued on Tuesday with the FCO and other UK Government officials on the borrowing guidelines, sea and air transport issues, development of prison infrastructure and service; funding from the European Union, replacement of the fire truck (which recently overturned) as well as to discuss the time table for constitutional talks and other issues.
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Left to Right: Hon. Osbourne Fleming; Chen Qixian, Director China National Tourist Office – UK, Ireland & Nordic Countries; Dr. AdamWoo, COO Chinese Business Network; Hon. Victor Banks.
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On Wednesday, Minister of Finance, Victor Banks, signed two Tax Information Exchange Agreements with the Governments of Ireland and The Netherlands. That day Permanent Secretary for Economic Development (Dr. Aidan Harrigan) and Permanent Secretary in the Chief Minister’s Office (Foster Rogers) travelled to Brussels, Belgium, to meet with the European Commission. The main talking point was the release of EC$24 million to Anguilla to be used for budgetary assistance.
During their visit to England, the members of the Anguilla delegation held meetings with the Anguillian community in Slough on various matters relating to the island.
The delegation returned home on Thursday.