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29 new agreements signed during Xi's visit to Cuba

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At the top of the program, we continue our coverage of President Xi Jinping's visit to Cuba. On Tuesday, President Xi and Cuban leader Raul Castro pledged that the two countries will be long-term, staunch friends and partners for reciprocal cooperation. President Xi was also awarded with the Jose Marti Order, Cuba's highest decoration, in recognition of his contribution to the development of Cuba-China relations.

A trip to cement already solid ties and in President Xi Jinping's words, to "plan for the long-term future."

During President Xi's meeting on Tuesday with his Cuban counterpart Raul Castro, he praised Cuba's efforts at promoting and updating its economic model, which he said means new and important development opportunities for Chinese-Cuban ties.

President Castro said bilateral relations are the best they've ever been, citing expanded cooperation in various areas. He also proposed that the two sides establish a special working team to push for the construction of key projects.

The two oversaw the signing of some 29 agreements in a wide range of sectors including renewable energy, agriculture, pharmaceuticals, and infrastructure.

Coinciding with President Xi's trip, about 50 Chinese entrepreneurs travelled to Havana to explore business opportunities, attracted by foreign investment incentives and the future Mariel free trade zone outside the capital.

Compared with China's other South American partners such as Brazil, where the exchange of goods and services exceeds 90 billion dollars, and Venezuela, one of China's main oil suppliers. China's trade with Cuba is more modest, with some 1.88 billion dollars in 2013. But that's precisely why many believe there's so much room for growth in the near future, especially after Cuba approved a bill making the island more attractive to foreign investors earlier this year.

On Tuesday, President Xi also paid a visit to retired revolutionary leader Fidel Castro.

On Wednesday, President Xi is due to travel to Santiago de Cuba, the country's second largest city in its eastern part.

 

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