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China promotes global trade despite COVID-19 pandemic, exper

Time: 10:41 Nov-26

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The 2020 China International Import Expo (CIIE) scheduled for Nov. 5-10 in Shanghai confirms China's efforts to promote global trade despite the COVID-19 pandemic, a Cuban expert has said.

While some global powers are implementing protectionist policies amid the COVID-19 emergency, the Chinese government is taking steps to enhance commercial exchanges between nations, Gladys Hernandez, senior expert at Havana's Center for Research on the World Economy, told Xinhua in a recent interview.

"This is a very important platform for Cuban goods and products to enter the Chinese market amid the international crisis provoked by the virus," she said.

For Cuba, she said, selling its products to China will help the Caribbean country develop; and by participating in the CIIE, Cuba could show significant progress made in the biopharmaceutical industry, tourism and other economic areas during the past few years.

"It comes as the island implements measures to recover from the COVID-19 pandemic, including the lifting of the 10-percent tax on U.S. dollars, setting a new legal framework to permit the private sector to make imports and exports," she told Xinhua.

Besides, Cuba has been sorting out terms and conditions for the end of the dual currency system in the coming future, as part of a staged and organized process, she said.

During the pandemic, the Cuban government has adopted a policy giving priority to strategic economic areas such as the national production of food, house construction and mining, the expert said.

"China has become Cuba's second largest economic partner," said Hernandez, adding that bilateral collaboration has increased over the past few years as a clear proof of unwavering links between the two nations.

Also, China's economic recovery "demonstrates successful handling of the coronavirus outbreak and economy by the Chinese government," she told Xinhua.

China's Belt and Road Initiative will bring prosperity to the Cuban and Latin American economies, said Hernandez, noting that the Digital Silk Road and industrial parks will bring business opportunities.

"China has had the capacity to diversify its economy, letting state and private sectors work together not only to confront the virus, but also to continue developing the country amid complex circumstances provoked by the global emergency," she said.

The Chinese government, under the guidance of the Communist Party of China, has put science and technological development at the service of the people to stem the spread of the virus nationwide, she said.

Noting this year is the 60th anniversary of the establishment of diplomatic ties between China and Cuba, Hernandez said that "bilateral collaboration will continue to increase for the years to come."

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