HAVANA — Officials from East China’s Zhejiang province signed a memorandum of understanding (MOU) with Cuban authorities on June 18 to boost trade ties and economic collaboration.
The document was signed by Wu Guiying, chairperson of the Zhejiang Provincial Committee of the China Council for the Promotion of International Trade, and Ruben Ramos, vice-president of Cuba’s Chamber of Commerce (CCC).
It calls for cooperation “in the areas of business development, bilateral exchange and information, investment and commercial activities designed to benefit both sides.”
Ramos told Xinhua that the MOU is “very useful” because it opens “new perspectives” on expanding exchanges with China.
Zhejiang is one of China’s most dynamic provinces in terms of economic development, said Ramos, underscoring the importance of the document.
Havana has signed some 30 similar agreements with different Chinese provinces.
Ramos also said the sectors in which cooperation is growing strongly and Chinese partners would invest correspond to Cuban priorities, such as the agricultural and food sectors, mechanical and electrical industries, and biotechnology, among others. “We coincide in many areas.”
Wu said many Zhejiang companies that are keen to do business in Cuba have attended past trade fairs in the Caribbean island nation.
To deepen mutual understanding, the two sides kicked off a two-day business forum on June 14 with representatives from 32 Zhejiang companies and Cuban firms to explore cooperation potential.
“We hope to take advantage of this forum to promote mutual visits and the exchange of information between Cubans and industrial and commercial companies in Zhejiang, increase economic cooperation projects and achieve greater mutual benefit,” Wu said.
According to Wu, Cuba has become a tourist destination for Zhejiang residents, and more Cuban goods, such as tobacco, rum, sugar, seafood, biotechnological products and others, have appeared in the daily life of Zhejiang people.
Besides bilateral meetings over business opportunities, the Chinese delegation is set to tour Cuban companies, factories and other sites of economic interest in Havana.