LensTalk | Trinidad and Tobago -- a transition from "hummingbird" to "phoenix"

By Zhao Kai

Trinidad and Tobago, an island country located at the southeastern end of the Lesser Antilles in the Caribbean Sea and facing Venezuela across the water, covers a total area of over 5,100 square kilometers. It is one of the countries with the richest diversity of hummingbird species in the world -- two golden hummingbirds are even featured on its national coat of arms.

Unlike many other Caribbean nations that rely heavily on tourism as their economic mainstay, Trinidad and Tobago possesses "black gold", which makes the country a major source of natural asphalt and an important oil exporter in the Caribbean region.

As early as the 19th century, Trinidad Island attracted global attention for its abundant natural asphalt resources. Pitch Lake, the world's largest natural asphalt lake, is referred to by locals as "God's asphalt reservoir."

For centuries, Pitch Lake has continuously supplied high-quality asphalt, making it one of the world's key sources of premium asphalt. Asphalt extracted from Pitch Lake has been used in many Belt and Road Initiative projects across Latin America and around the world. According to a local guide, the lake spans over 40 hectares and reaches depths of more than 70 meters, with an estimated asphalt reserve exceeding 10 million tons.

In the early 20th century, Trinidad and Tobago drilled its first commercial oil well, tying the country's destiny closely to oil ever since. In the 1970s, soaring global oil prices brought this small nation an unprecedented wave of economic prosperity. Today, the oil and gas industry contributes over 30 percent of Trinidad and Tobago's GDP. However, this wealth has come at a cost. The country's economy has become overly dependent on a single resource, making it vulnerable to fluctuations in international oil prices. Moreover, long-term oil extraction has caused significant environmental damage to the island nation, which is already ecologically fragile.

How to promote economic diversification has become one of the most pressing concerns for the government of Trinidad and Tobago in recent years.

In January 2024, the Phoenix Park Industrial Estate -- a flagship project of Belt and Road cooperation between China and Trinidad and Tobago -- was officially launched in the country. By aligning its national development strategy with the Belt and Road Initiative, this "Land of the Hummingbird" is undergoing a quiet transformation.

The Phoenix Park Industrial Estate is located at Point Lisas, Trinidad and Tobago's second-largest port. Designed as a high-value-added, environmentally friendly light industrial park, it features industrial clusters in sectors such as light manufacturing, green building materials, food and beverages, and warehousing and logistics. Covering an area of approximately 580,000 square meters, it is the first comprehensive, smart industrial park in Latin America and the Caribbean to achieve full 5G network coverage.

To date, 26 companies have settled in the park, including 8 Chinese enterprises, with an overall occupancy rate of 98 percent.

Sekou Alleyne, President of the Trinidad and Tobago Investment Promotion Agency, told reporters that the Phoenix Park Industrial Estate is a milestone project in Trinidad-China economic cooperation. It helps solidify Trinidad and Tobago's position as a manufacturing hub in the Caribbean. "The Phoenix Park Industrial Estate marks our move toward a more diversified economic model, while also providing a new platform to attract international investors," he said.

The glory brought by "black gold" may eventually fade, but the transformation from "hummingbird" to "phoenix" is continuing to unfold on this land.

Text and photos by Zhao Kai