(Yicai Global) May 17 -- The first intergovernmental contract between China and the Caribbean nation of Trinidad and Tobago has been nailed down under the Belt and Road Initiative, which proves to be another milestone for the economic scheme's development.

Trinidad and Tobago agreed to cooperate with China to push partnerships in various sectors, including infrastructure, energy, finance, and agriculture.

The partnership deal was revealed by China's foreign ministry spokesman Lu Kang at a press briefing yesterday during a state visit to Beijing by the island country's prime minister.

Trinidad and Tobago Prime Minister Keith Rowley touched down in the capital on May 15 for a four-day visit, and has so far witnessed the signing of four memorandums of understanding relating to the economy, medicine and health, and human resources.

The Belt and Road has transformed from a concept to reality, with great achievements being made, Chinese President Xi Jinping said on May 15 at the first meeting of the Foreign Affairs Commission under the Communist Party's Central Committee. Xi devised the large-scale initiative in 2013 to build a network of infrastructure and trade covering road, rail, pipes, and seas in Africa, Asia, Europe, and since the start of this year, South America.

The scheme has taken some major steps forward over the past few weeks. China penned a related agreement in Beijing yesterday with Oman, during a state visit by the Middle Eastern nation's Foreign Minister Yousef Bin Alawi Bin Abdullah.

A day earlier, Xi met with Ban Ki Moon, chairman of the Boao Forum for Asia and former secretary-general of the United Nations, when Ban proposed to use the Belt and Road to better promote innovation and openness across the continent. Xi backed the motion, saying China will firmly support multilateralism, safeguard the multilateral trading system and strive to build an open world economy.

Chinese Vice President Li Yuanchao also met with Brazilian Foreign Minister Aloysio Nunes Ferreira on May 4 in order to prepare for the BRICS Summit 2018, which will be held in Xiamen in China's Fujian province in September. BRICS is the association of five major emerging economies: Brazil, Russia, India, China and South Africa.

Editors: Emmi Laine, James Boynton