The third China International Consumer Products Expo in Hainan presents a great opportunity for the Caribbean nation, a senior Cuban official has said.

“Cuba showcases high-quality products including honey, rums, coffee and sea products, among other commodities, which is an effective way to increase our exports to China,” Deborah Rivas, Cuba’s deputy minister of foreign trade and investment, told Xinhua in a recent inter

The third China International Consumer Products Expo in Hainan presents a great opportunity for the Caribbean nation, a senior Cuban official has said.

“Cuba showcases high-quality products including honey, rums, coffee and sea products, among other commodities, which is an effective way to increase our exports to China,” Deborah Rivas, Cuba’s deputy minister of foreign trade and investment, told Xinhua in a recent interview.

The expo, she said, is in keeping with the dual circulation strategy implemented by the Chinese government to boost consumption and continue to open China to the world.

As part of this purpose, Cuba is determined to contribute to building a China-Cuba community with a shared future, which was highlighted by leaders of the two countries during Cuban President Miguel Diaz-Canel Bermudez’s visit to China at the end of last year, she said.

Rivas said that the event provides Cuba with the opportunity to promote Cuba’s foreign investment portfolio comprising more than 700 projects.

In this regard, she said, “it is crucial for Cuba to receive Chinese investment, which can help the country implement different prioritized programs within the framework of Cuba’s 2030 National Economic and Social Development Plan approved by the government.”

All Chinese companies linked to strategic sectors for government management such as science, technology, and innovation, have a huge potential to participate in the development of Cuba, said Rivas.

She said that it is fundamental for the island nation to attract Chinese investment with technology transfer for the production and assembling of transport equipment, solar heaters, and biosensors, and that the fields of renewable energy, construction, transport, agriculture, retail trade and tourism constitute paramount priorities for Cuban authorities.

Currently, China has more than a dozen investment projects in Cuba, particularly in the food industry, transport, agriculture, construction, energy, and tourism, she said.

“Chinese investors are interested in businesses associated with the development of the sugar industry, renewable energy, biotechnology, wholesale market and retail trade as well as biotechnology, telecommunications, and shrimp farming, just to mention some examples,” she added.

Rivas perceived China as a strategic partner for Cuba since it has been one of the main clients for Cuban exports. Cuba sells nickel, zinc, lead, sugar, sea products, rums, tobacco and coffee to China.

Cuba imports from China mostly machinery, transportation means, electric equipment, chemical products, textile, synthetic fiber, and tools, she said. “There is no area of the Cuban economy where Chinese products, technologies, and services are not represented.”

“The cooperation with China is diverse,” she said, highlighting that biotechnology, energy and industry are of the essence.

Rivas noted that Cuba’s participation in the China-proposed Belt and Road Initiative covers the entirety of bilateral cooperation sectors, along with actions and projects of mutual interest. Enditem

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Source: Xinhua