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Hu Jintao concludes Cuban trip

Hu Jintao concludes Cuban trip
Written by Larry Moonze in Havana, Cuba
Wednesday, November 19, 2008 10:47:40

CHINESE President Hu Jintao has concluded his economic expansion trip to Havana with his government affirming Cuba is indispensable for China in its bid to build links with Latin America.

President Hu met the Cuban revolution leader Fidel Castro. He said Castro's experience and thoughts would help guide Cuba on its strides to construct socialism.

President Hu said he was pleased to find Castro energetic and declared China would always assist Cuba and support the socialist cause.

He said the relations between Cuba and China had withstood different changes in the international arena due to joints efforts to nurture to those bilateral ties by generations of Chinese and Cuban leaders.

"The brotherly friendship between our two countries and parties [Communist Party of China and Communist Party of Cuba] has been deeply rooted in the hearts of our peoples," President Hu said. "The Chinese people will always support the just struggle of the Cuban people in safeguarding sovereignty."

He said he was touched to note that Castro paid close attention to developments in China. President Hu recalled how swiftly Castro ordered the sending of the Cuban medical brigade to China in May following a devastating earthquake in Sichuan Province.

And Castro told President Hu that he was an old friend.

He said he followed all that happened in China.

Castro said China had surmounted unimaginable difficulties adding that it was the most dynamic nation in the world.

He said China was the most prepared country in the fast of global economic downturn.
After meeting Castro, President Hu held a discussion with President Raul Castro leading to the signing of several agreements ranging from deferring Cuban debts to agreeing to buy the island's sugar and nickel.

China offered Cuba a US $8 million grant under an economic and technical cooperation agreement.

Another agreement involved a change of notes to defer for five years the Chinese credit line granted to Cuba on March 27, 1998 valued at US $7 million.


China postponed until 2018 another undisclosed debt but accrued until 1994-1995. China and Cuba also agreed on a US $70 million credit for reconstructions.

Another agreement involves mutual recognition of studies, titles and diplomas of higher education. In total the agreement were 12.

China is Cuba's second-largest trading partner with total trade volume of US $2.7 billion in 2007 while Venezuela-Cuba trade stood at an estimated US $7 billion. China has seen its trade portfolio in Latin America climb from US $10 billion in 2002 to over US $100 billion last year.

At the time of global economic uncertainty China continues to spread her trade and economic arm in the resource rich Latin America and Caribbean region.

President Hu says the Chinese government has "taken an active part in international cooperation to deal with the financial crisis and played a positive role in maintaining international and financial stability and promoting the development of the world economy".

China on November 9, unveiled a US $586 billion economic stimulus package following the lowest, in five years, growth rate of the economy in the third quarter.

On Tuesday, President Hu started by laying a wreath at a monument to Cuban national hero Jose Marti at Havana's Revolution Square while his Chinese business delegation were busy signing a set of accords.

The 21st session of the China-Cuba Intergovernmental Commission for Economic and Commercial Relations inked agreements ranging from renovating Cuba's seismology (earthquake detection systems) network, rehabilitation of aging ports to a housing project in Guantanamo Province.

The commission reached an agreement for China to purchase Cuban sugar and nickel and the supply of galvanized roofing materials to the island in the midst of a US $10 billion hurricanes recovery programme.

Another contract was in the biotechnology area. The value of the agreements was not disclosed.

In the afternoon, Presidents Hu and Raul met Chinese students studying Spanish at Tarara School in the north-eastern coast of Havana.

Accompanied by Cuban First Vice-President Jose Machado Ventura, Presidents Hu and Raul toured the school home to over a thousand Chinese. There are more than 2,000 Chinese students in Cuba. At least 1,112 are on a one-year intensive Spanish course in Tarara and 276 others majoring in Spanish language. The rest are studying medicine and other courses in different universities in Havana.

Meanwhile, President Hu also delivered a humanitarian cargo for victims of Hurricanes Gustav, Ike and Paloma.

Chinese trade minister Chen Deming said the aid was part of that Asian country's solidarity with Cubans.

He said recently China donated US $1.3 million to help Cuba recover from the damages caused by the hurricanes.

Deming said China would provide Cuba with house construction materials.
Cuban foreign investment and economic cooperation minister Rodrigo Malmierca received the donation.

Malmierca said President Hu's visit would further strengthen bilateral ties.

Labels: CHINA, COMMUNISM, CUBA, DEVELOPMENT, HU JINTAO

posted by MrK @ 10:49 PM