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  HOME | Cuba

Cuban and Chinese Chambers of Commerce Sign Action Plan for 2016-17

HAVANA - The chambers of commerce of Cuba and China signed in Havana the new action plan for the year 2016-1017on Sunday during Chinese Prime Minister Li Keqiang's official visit to the island, which concludes Monday, the Cuban News Agency reported.

Presidents of the Cuba Chamber of Commerce and the China Council for the Promotion of International Trade, Orlando Hernandez and Jiang Zengwei respectively, signed the document in the presence of Cuban Minister of Foreign Trade and Foreign Investment (MINCEX), Rodrigo Malmierca.

Chinese Prime Minister Li Keqiang is accompanied by a business delegation comprising representatives from 36 companies from various sectors.

Malmierca said that, in the new pact, Cuba and China agreed on an economic agenda with a medium and long term vision to boost cooperation in infrastructure, telecommunications, tourism, energy, the pharmaceutical industry, biotechnology and health.

Jiang Zenwei highlighted the positive trend of bilateral trade in recent years, which in 2015 reached over $2 billion, a 77 percent jump.

The official said China is Cuba's main trade partner in the Asia-Pacific region and the island is China's largest trading partner in the Caribbean region with exports of products like sugar, tobacco, rum and seafood.

Cuba and China also agreed on the formation of a joint venture, dedicated to the production of biosensors, glucometers and other diagnostic equipment.

The project will be set up in the Mariel special development zone, created by the Cuban government to attract foreign capital investments.

The two countries also agreed to the distribution and marketing of medicines in China, a project for the transfer of technology and the creation of a joint unit for research, development and production on a pilot scale of monoclonal antibodies and recombinant proteins, with the aim of exporting them to Latin America.

On Saturday, the Cuban and Chinese governments also signed thirty agreements to promote cooperation, including the protocol that formalizes the cancellation of Cuba's debt with Beijing, and others in areas such as information technology, industry, biotechnology, renewable energy and banking.

 

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