China, Cuba Agree to Expand Trade, Economic Cooperation

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Last updated at: (Beijing Time) Thursday, November 22, 2001

China, Cuba Agree to Expand Trade, Economic Cooperation

China and Cuba agreed Wednesday in Beijing to work side by side to boost trade and economic cooperation following China's entry into the World Trade Organization (WTO).

China and Cuba agreed Wednesday in Beijing to work side by side to boost trade and economic cooperation following China's entry into the World Trade Organization (WTO).

The consensus was reached at the 14th session of the China-Cuba Mixed Committee on Trade and Economic Cooperation, co-chaired by Chinese Minister of Foreign Trade and Economic Cooperation Shi Guangsheng and Cuban Minister of Government Ricardo Cabrisas Ruiz.

Shi thanked Cuba for its firm support of China's accession to the WTO and said that the current session of the Mixed Committee, the first since China's entry into the WTO, will boost trade and economic cooperation between the two countries.

Two-way trade between China and Cuba grew 56.6 percent in the first nine months this year, reaching 340 million U.S. dollars against the backdrop of a global economic slowdown, according to Chinese statistics.

Cabrisas said China's WTO entry will boost the strength of the Third World countries within the WTO. He said Cuba hopes to take the opportunity of China's entry to find new channels for trade and cooperation.

The two-day session will close here Thursday.

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