China Strengthens Economic Ties with Cuba

Havana, Oct 26 (Prensa Latina) China and Cuba signed five documents on juridical instructions on collaboration, thus further strengthening bilateral ties, economists agreed today.

A report published on Thursday in the local newspaper Granma explains the details of the agreements, signed by Chinese Ambassador in Havana Chen Xi and the Cuban minister of Foreign Trade and Foreign Investment, Rodrigo Malmierca.

The documents, which boost economic and commercial relations between the two countries, were signed at the headquarters of the Ministry of Foreign Trade and Foreign Investment in Havana, and include framework agreements to grant direct lines of concessional credits by China to remodel and modernize Cuba’s Empresa Industria Electrónica.

The two parties also penned a juridical instrument to expand the 50-megawatt automatic line, which produces solar panels in the Pinar del Rio-based Empresa de Componentes Electrónicos Ernesto Che Guevara, and to develop the fifth phase of the Technical Assistance Project in Agriculture.

In addition, Cuba received a donation of one million dollars to boost recovery works in the zones affected by Hurricane Irma. With the same purpose, more humanitarian aid arrived in Cuba from China, consisting of power generators, water pumps and purifiers, foldable beds, sheets and towels, among other equipment and products.

The Chinese ambassador noted that they want to work alongside the Cuban people in the recovery and due to the ties that united them, beyond the financial factor. Malmierca, in turn, thanked China for its support.

These agreements reaffirm the two governments’ willingness to strengthen and expand bilateral economic and commercial relations, as a continuation of several actions and projects.

The digital newspaper Cubadebate also reported on the signing ceremony on Thursday and noted that Cuba and China maintain strong political, economic and commercial relations.

It added that China is one of Cuba’s main allies and it became Havana’s major trading partner in 2016, when bilateral trade exceeded 2.585 billion dollars.

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