South Africa Increases Financial Links with Cuba

HAVANA. Cuba, Dec 7- South African President Jacob Zuma announced on Tuesday the granting of a new credit line of 220 million rands (30 million dollars) to Cuba, a country he described as an ally of the entire African continent.

While closing the Cuba-South Africa Business Forum, held for two days at Havana’s Hotel Nacional, Zuma also announced the extension of credit guarantees to the value of 70 million rands, which will back South African exports to the island.

In addition, he also announced South Africa’s willingness to support Cuba with 14 million rands worth of seeds and fertilizers, in order to contribute to the island’s agricultural development.

The head of state said he was pleased because the main business organizations of his country were represented in the forum, to talk about and explore possibilities of trade between the two countries, in a way that bilateral economic bonds can be strengthened.

He expressed the gratitude of his government and people for the support given by the islandin the offering of essential services to the South African people, by way of programs in the fields of health, social development, housing and public infrastructure.

He also expressed his appreciation for the presence of over 400 Cuban professionals, among them architects, engineers and physicians, who’re now offering their services in communitiesof that African country.

Ricardo Cabrisas, Vice-president of the Council of Ministers, stated that those working inthe economic sphere in the two countries are responsible for creating favorable conditions to materialize the objectives agreed in this meeting.

Cabrisas highlighted the absolute willingness of the Cuban party to progress in the deepening, strengthening and diversification of economic bonds between Cuba and South Africa.

Also participating in the ceremony were Estrella Madrigal, president of the Chamber of Commerce of the Republic of Cuba; Rodrigo Malmierca, Minister for Foreign Trade and Investment, and Robert Davis, South Africa’s Minister of Commerce and Industry. (acn)