Agreements come as nation starts reforms

HAVANA / BEIJING - China and Cuba strengthened their economic and political ties on Sunday by signing a dozen cooperation agreements that will provide strong financial support to the Latin American country as it embarks on economic reforms.

Cuban President Raul Castro (R) walks next to Chinese Vice President Xi Jinping during a meeting at the Revolution Palace in Havana June 5, 2011. [Photo/Agencies]

Under the agreements, China will provide interest-free loans, economic aid and equipment to repair irrigation projects.

The agreements also cover cooperation in digital television and telecommunications, banking supervision and financing for public health projects, as well as an oil refinery expansion project and a liquefied natural gas project.

The agreements "reflect the political will of both parties and governments to continue deepening their ties", Agence France-presse cited an official Cuban announcement as saying.

Experts said the agreements would inject more momentum into Cuba's economic reforms and enhance ties between China, Cuba and other Latin American countries.

"The agreements will be a new start for China-Cuba economic cooperation and expand China's investment in Cuba from traditional areas like energy resources to new areas such as tourism, infrastructure and finance," said Sun Hongbo, a researcher at the Institute of Latin American Studies at the Chinese Academy of Social Sciences.

Sun told China Daily it is also a good opportunity for China to increase its investment in other Latin American nations, as some, such as Brazil and Uruguay, are in great need of capital to develop transportation infrastructure.