MINISTER OF ECONOMY OF CUBA:

Visit to China yields very positive results

The results of the visit to China are very positive, there was a transparent, cordial and open conversation, Cuba’s Deputy Prime Minister Alejandro Gil Fernández told the press.

Author: Leticia Martínez Hernández | internet@granma.cu

december 8, 2022 07:12:03


The results of the visit to China are very positive, there was a transparent, cordial and open conversation, Cuba’s Deputy Prime Minister Alejandro Gil Fernández told the press.

During the visit, twelve legal instruments were signed, including the reopening of new financing, he said.

The Minister of Economy and Planning pointed out that these reopenings are fundamentally associated with the investment of the modern floating dock, which arrived in Cuba in 2019, and which will be an important source of foreign currency income, by providing service to ships transiting that area of the Caribbean. It is an investment practically concluded, he said, with just some pending adjustments, and now progress will be made in its completion.

He also spoke to the press about the reconversion or modernization program, which is also an important credit from China that had not been concluded, and it was agreed to take steps for its completion. Progress was also made in other key investments for our economy, such as the Herradura wind farm, in the north of the province of Las Tunas, and, in turn, a solar photovoltaic farm of more than 100 megawatts.

In addition, there are two biopesticide plants in Havana and Villa Clara, and another to be built in Granma. The former have advanced in their execution, and we agreed to seek greater flexibility in terms of financing that would put them in the completion phase or in further progress.

In the conversations with President Xi Jinping, the Minister announced, a donation of around one hundred million dollars was revealed, which will be used in the priorities of the Cuban people.

He added that they also talked about the debt contracted in recent years with China, which is a very important supplier for our economy, and recalled that, in the last 15 years, it is Cuba’s second largest trading partner, with a key role in the present and the future of the National Economic and Social Development Plan.

Our President explained the situation we are facing, there was understanding on the Chinese side and we are going to move closer positions in order to find mutually acceptable formulas for the arrangement and restructuring of debts, and for the flow of credits associated with Chinese investment projects in our country, said Gil Fernandez.

We also proposed to increase the investment of Chinese companies in and spoke about some subjects such as tourism and the return of airlines.

In spite of the short visit, we are very satisfied with the results achieved, the minister said. We consider that it is a new starting point, a relaunching of relations which, of course, will contribute to the gradual progress of our economy and to the recovery of the economic and social conditions of the country, deteriorated in the last two and a half years, mainly due to the intensification of the blockade by the U.S. Government, and the impact of the pandemic.

Translated by ESTI