China, Cuba enter electronics joint venture

China and Cuba plan to establish a joint venture next year that will enable the local manufacture of electric and electronic equipment, the Cuban media announced Saturday.
The project, between China's Haier Corporation and the Electronics Group of Cuba's Communications Ministry, is ambitious. It envisions the manufacture of television sets, domestic appliances, washing machines, refrigerators, air-conditioning equipment, computers (both desk and laptop) and street lights.
This will be the first time Cuba would manufacture TV sets. Chinese sets have been assembled on the island for the past five years.
Haier is the world's fourth-largest producer of electrical appliances and China is Cuba's second-largest trade partner, after Venezuela. Trade between Beijing and Havana in 2008 was $1.9 billion, according to Cuba's National Statistics Office.
No figures were mentioned for this particular deal, but presumably the money will come from a $600-million line of credit that China granted Cuba in September. (See our Sept. 2 blog item "China grants Cuba…")
–Renato Pérez Pizarro.

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