Friday, November 04, 2016

Chinese companies look to expand trade with Cuba, provide market stability

Chinese companies look to expand trade with Cuba, provide market stability
Source: Xinhua 2016-11-04 17:22:36

HAVANA, Nov. 3 (Xinhua) -- More than 60 Chinese companies are present
this week at the 34th Havana International Trade Fair to boost trade
with Cuba.

The Chinese pavilion at ExpoCuba, a site on the outskirts of Havana, has
attracted the attention of thousands of companies and entrepreneurs from
all over the world.

Hosted by the China Council for the Promotion of International Trade,
Beijing's pavilion is a sign of the diverse economic relations with Cuba
and it will provide advanced technology, first-class equipment and
infrastructure to the island.

One of those companies is Midea, one of China's leading home appliance
manufacturers, which has been in Cuba for 7 years.

"We have just started selling fans in the Cuban market. In 2013, we
introduced other products like air conditioning, refrigerators and rice
cookers, which have made a positive impact on the Cuban market," Gu
Junqiu, Midea's manager in Cuba, told Xinhua.

Gu said that the Chinese firm and Cuba's CIMEX, the island's largest
commercial corporation, recently opened a joint store to sell Midea's
products. So far,their sales performance has been very good.

"We will continue cooperating with Cuban companies to introduce other
products in this changing market and build a post-sales system for
providing spare parts and quality service," he said.

Another popular Chinese company in Cuba is Geely Automotive, which has
sold over 15,000 cars on the island since 2008, mainly for the tourism
industry. Several models of the Chinese-made vehicles, which can be seen
at car rental spots, are also popular among locals.

"Since the first year we entered the Cuban market, we have been
successful. We will continue to provide our buyers in this country with
high-quality cars which are already very well known here," Du Shaokui,
one of Geely's representatives in Cuba, told Xinhua.

One of the latest technological products entering the Cuban market is
the high-definition (HD) TV decoder, which is sold by the Chinese
company Soyea.

Over 500,000 decoders have been sold by Soyea in Cuba in the last two
years along with over 20,000 TVs, making it one of the most widespread
brands on the island.

"We are about to introduce new products in the Cuban market such as
Ultra HD TVs and new decoders. We are also in discussions with Cuban
authorities to set up a factory on the island," said Zhao Jianhua,
Soyea's general manager.

Zhao also said the Cuban market is new for Soyea but it shows great
potential for development. "Cuba's geographical position is also very
strategic to introduce our products in nearby markets, particularly
Caribbean nations," he said.

China is Cuba's second-largest trading partner behind Venezuela.Numerous
Chinese companies are involved in multiple areas of this nation's
economy and development, particularly in technology, transportation,
biotechnology, agricultural machinery, household appliances and textiles.

For that reason, the Cuban government has named China as a great partner
in the process of updating the country's economic and social model.

Source: Spotlight: Chinese companies look to expand trade with Cuba,
provide market stability - Xinhua | -

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