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Deals to be signed to boost economic cooperation between China and Cuba


09-25-2016 03:27 BJT

Full coverage: Premier Li Attends UN Conferences, Visits Canada and Cuba

It's the first official visit to Cuba by a Chinese premier since the two countries established diplomatic ties 56 years ago. Li's visit is intended to enhance political and economic cooperation between the two countries.

Both sides are expected to sign a number of deals in areas such as infrastructure, agriculture, renewable energy and biotechnology. For many years, China has been Cuba's second largest trading partner, while Cuba remains China's biggest trading partner in the Caribbean. Trade and investment have been on the rise in recent years. In 2015, total trade volume between China and Cuba reached over 2 billion US dollars, representing a nearly 60 percent increase on 2014.

"We are looking forward to more productive cooperation with China. Both sides are expected to sign a number of deals to boost economic and trade cooperation. In the financial sector, we have spent the government loan provided by China on many different projects. It has kept Cuba's economic development sustainable. Our countries have shared a strong bond since the Cuban Revolution more than 50 years ago. We have a lot of expectations. Both countries have strong aspirations to keep this partnership going," said Vivian Herrera Cid, director general of Cuban Ministry of Foreign Trade and Investment.

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