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China's Xi eyes increased investment in Cuba

Published on Jul 22, 2014 11:09 PM
 
China President Xi Jinping (right) is welcomed by Cuban Vice-President Miguel Diaz Canel (left) at Havana International Airport Jose Marti on July 21, 2014. Chinese President Mr Xi Jinping visited Cuba on Tuesday, July 22, 2014, to expand investment in the fellow communist nation, his last stop on a four-country Latin American charm offensive. -- PHOTO: AFP

HAVANA (AFP) - Chinese President Mr Xi Jinping visited Cuba on Tuesday to expand investment in the fellow communist nation, his last stop on a four-country Latin American charm offensive.

Cuba, the only one-party communist state in the Americas, began opening up its economy in 2008, but has not grown as much as hoped and could desperately use more Chinese investment.

Mr Xi for his part has made a point during his tour of reaching out to countries often shunned by US and European investors, including Venezuela and Argentina as well as Cuba.

"This visit will realize the aims of boosting friendship, deepening mutual trust, expanding cooperation and driving development, opening a new phase in the mutually beneficial, friendly cooperation between China and Cuba," said Mr Xi after touching down Monday night in Havana.

 
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