China-Cuba trade rises 57% in first three quarters

HAVANA - Trade between China and Cuba reached $1.596 billion between January and September in 2015, up 57 percent year-on-year, the Chinese embassy in Havana announced Thursday.

The growth confirms that China is now the island nation's second largest trade partner after Venezuela, said Ma Keqiang, economic counsellor at the Chinese embassy.

Ma added that Chinese exports to Cuba reached $1.33 billion in the first three quarters, up by 82.4 percent.

However, Cuban exports to China have actually dropped, due to a decrease in the production of nickel, which is the country's principal export,in addition to tobacco.

Ma also said more than 40 Chinese companies will participate in the 33rd Havana International Fair on Nov 2-7 to further promote trade relations between the two countries.

The companies are mostly related to the automotive, home appliances, machinery and light industry sectors, he said.