10 Sep 2008

Cook Islands to receive additional aid from China

4:23 pm on 10 September 2008

The Cook Islands is to receive addditional aid from China.

The Cooks Deputy Prime Minister, Sir Terepai Maoate and China's Minister of Commerce, Chen Deming, have signed an agreement for around one point five million US dollars to be provided for yet to be agreed projects.

The deal was signed in Xiamen during the China-Pacific Island Countries Economic Development and Cooperation Forum.

The Conference is aimed at promoting economic and development cooperation between the Pacific and China, particularly in the areas of trade, investment and tourism.

Earlier this year China agreed to a multi million dollar soft loan for the construction of a sports stadium in Rarotonga.

Sir Terepai has highlighted the need for future development cooperation to focus on stimulating private sector activity, infrastructure, agriculture and tourism.