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| Join Hands to Compose New Movement of China-Cuba Trade and Economic Cooperation |
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| 2005-09-15 08:39 MOFCOM |
Speech of Assistant Minister Mr. Fu Ziying at China-Cuba Investment Forum
On Sept. 9, Mr. Fu Ziying, Assistant Minister of Commerce attended China-Cuba Investment Forum in Xiamen and gave a speech with a title of "Join Hands to Compose New Movement of China-Cuba Trade and Economic Cooperation", whole text of his speech was the following:
I am delighted to get an opportunity to take part in China-Cuba Investment Forum with friends from all over the world in the beautiful coastal city of China-Xiamen. First of all, please allow me, on behalf of the Ministry of Commerce, to extend the sincere congratulations to the Forum and warm welcome to friends coming from Cuba and guests here.
There is an old saying in China "No distance between friends even if they were ten-thousand Li away". China and Cuba are far from each other, but they keep a good relationship for a long term. Chinese government and people very much cherish the friendship. The two countries kept favorable cooperation relations in the past few years, because of the concern of leaders of the two countries, high level visits between them turned to be frequent and bilateral trade and economic cooperation developed rapidly. In 2004, the bilateral trade amounted to US$530 million, equal to about 1.5 times of that in 2003. In Jan. through July in 2005, China-Cuba bilateral trade reached US$480 million, of which China’s exports were US$320 million and its imports US$160 million, up by 52%, 85.6% and 10.9% respectively.
Meanwhile, China and Cuba made a great progress in investment and cooperation in trade and economy. According to statistics from MOFCOM, by the end of June 2005, China totally invested 13 projects in Cuba with a value of US$47.51 million, covering fields of agriculture, telecommunication, tourism, light industry and complete sets of equipment. And in the fist 6 months of 2005, the Ministry totally approved 7 projects invested from Cuba in China with agreed investment of US$36.59 million and real input of US$15.99 million, covering areas of hotels, tourism, biological medicines and international trade in free trade zones. Besides, some big enterprises in China were actively preparing to invest in nickel and launch bilateral cooperation of exploration and exploitation, refinery and equipment supply in oil, and achieved certain progresses. China-Cuba trade and economic cooperation had a good foundation.
Looking into the future, China-Cuba trade and economic cooperation has a broad prospect and huge potential, compared with which, there are much room to improve the cooperation scale and level. Cuba is famous for its rich mineral resources and cigar etc. and can export more to China, on the other hand, many Chinese products with high quality and low price are suitable for the consumption of Cuban people, China also has advanced technologies and equipments needed by the economic development of Cuba. Besides, Cuba has a geography advantage. All the above-said are the favorable conditions to start investment and trade between China and Cuba. Chinese government encourages enterprises to invest more in Cuba and welcomes Cuban enterprises to launch investment and trade in China.
Ladies and Gentlemen:
China-Cuba trade and economic relations have been the important part and driving force of the bilateral relations. Both China and Cuba and people of the two countries will be beneficial from the expansion of bilateral trade and economic cooperation, which is also significant for enhancing and developing the long-term friendly relationship. I hope that guests here could use the rare opportunity to enhance communication and increase understanding to promote investment and seek for trading opportunities together. Let us hand in hand to seize the chance to compose new movement of China-Cuba trade and economic cooperation with mutual benefits, Wish the Forum a great success! Thanks!
(Source: Network Center of MOFCOM)
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