Cuba, China companies deepen ties to increase commercial exchanges

HAVANA -- A new space to deepen trade relations between Cuba and China was celebrated on Thursday of the XIII Bilateral Business Committee where companies from both nations explored new trade and business opportunities.

Within the framework of the 35th Havana International Trade Fair (FIHAV 2017), the event was attended by more than 70 businessmen from both countries and led by the Vice-President of the Chamber of Commerce of Cuba, Odalys Seijo and Hong Xiao, economic and commercial counselor of the Embassy of China in the Island country.

Seijo recalled that Cuba was the first country in the region to establish relations with the People's Republic of China, which led to close historical ties.

"Strong cooperation relationships were established in various sectors that have been strengthened and diversified over time, reaching higher levels which have made China our main trading partner in the exchange of goods," she said.

The Cuban official said the committee, beyond an exhibition of products or a business forum, is also a reflection of the friendship between both countries and the growing possibilities of establishing new trade and investment agreements.

"We hold this meeting of the bilateral business committee at a time when Cuba continues to update its economic and social model and with new foreign investment policies and strategic development projections until 2030," she said.

In this regard, Seijo expressed her country's wishes to see more Chinese entrepreneurs participate in the new business opportunities presented by Cuba at this fair.

Meanwhile, Hong Xiao, economic and commercial counselor at the Chinese embassy, called the event "an efficient dialogue and communication platform" between Chinese and Cuban companies through which better mutual understanding and trust are achieved.

"The economic-commercial cooperation between Cuba and China continues to grow and expand in a dynamic and diversified way and despite some latent obstacles we hope to have a bright future and great expectations," she said.

She also noted that in 2016, China stood out as Cuba's main partner in the import and export of goods while the island country is Beijing's largest trading partner in the Caribbean region, due to the joint efforts of entrepreneurs from both nations.

"This year, Cuba's exports to China must grow at an impressive rate. However, China's exports to Cuba are experiencing difficult times and to this day the pressure continues for many businessmen due to the economic difficulties that this Caribbean nation is going through," she said.

Hong indicated that Cuba proposed a new business portfolio with attractive investments at FIHAV 2017 and invited more Chinese companies to strengthen exchanges.

A commercial delegation from the Chinese province of Henan, led by Wan Xu, deputy secretary general of the Henan provincial government, also participated in the event.

Several Chinese and Cuban companies presented their perspectives for development and cooperation to promote new commercial ties.