Although it seems unlikely given the scarcity of goods and food in Cuba, this week the island’s government, through its company Coratur, agreed to ship coffee, honey, fruit jams and skin creams to a pilot business area in China’s Hainan province. , according to official reports.
A report by Prensa Latina states that Coratur, through two Chinese companies such as Beijing North Star and Boao Central Pharmacy, will export other products beyond the aforementioned coffee or honey, they will also bring cosmetic creams and nutritional supplements to China. both online and for sale. physical stores in that country.
This business It was acquired in the context of the third edition of the Hainan International Consumer Goods Fair, where Cuba exhibited these products in addition to Havana Club rum, tobacco, Cuban cigars and other flagship products in its export portfolio. At least 65 countries participated in the fair, resulting in some lucrative contracts like this one that a Cuban company just signed.
You may be asking yourself how to export premium coffee, honey and even nutritional supplements to other than ordinary Cubans. Well, that’s a question we all ask ourselves.
CUBA EXPORTS TO CHINA
Cuba and China have maintained trade relations for decades, with China being the island’s second most important trading partner after Venezuela. Over the years, these two countries have strengthened their cooperation in areas such as agriculture, energy, technology and transport, this cooperation is vital for the island.
In 2019, for example, bilateral trade between Cuba and China reached 2.7 billion dollars, an increase of 4.7 percent compared to the previous year. As part of this cooperation, China has provided Cuba with loans and financing for development projects, including the modernization of port infrastructure and the supply of medical equipment and information technology.
However, trade relations between Cuba and China are not without challenges. The Cuban economy continues to be a planned and centralized economy, which can hinder foreign investment and the participation of Chinese companies in the national market.
In addition, the lack of transparency in Cuba’s legal and regulatory system, in addition to unpaid debts, sometimes deters Chinese investors.