Sunday, February 13, 2011

Cuba-China trade recovers in 2010

Cuba-China trade recovers in 2010
Published February 10, 2011

Havana – Trade between China and Cuba totaled $1.8 billion last year,
posting a recovery from 2009, official figures released Thursday in
Havana show.

Bilateral trade grew by $300 million in 2010, compared to the previous
year, even though it continued to be affected by the global economic
recession and other factors, Chinese Ambassador to Cuba Liu Yuquin said.

Beijing's goal is to diversify trade with Cuba, which mainly sells China
sugar, rum and biotechnology products, the diplomat said in an interview
with the weekly Opciones.

China's exports to the Caribbean nation are dominated by automobiles,
buses and appliances, such as televisions and refrigerators, Liu told

China is Cuba's second-largest trading partner, trailing only Venezuela.

Bilateral trade totaled about $1.55 billion in 2009, down 31.5 percent
from 2008, when it reached $2.2 billion.

Ambassador Liu praised the advances made in bilateral cooperation,
citing the opening in February 2010 of Shanghai's Gran Melia Hotel,
which was constructed by Chinese state-owned company Xintian (Suntime)
and Cubanacan.

The hotel was the first to be managed in China by Spanish hotel chain
Sol Melia.

Cuba and China plan to build a $117 million luxury hotel on the island
in Havana's Marina Hemingway.

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