Beijing, China.- Today, Cuba and China signed a memorandum of understanding to set up joint ventures in the sector of health care, specifically to produce medications created in Cuba and demanded worldwide due to their efficacy.

The deal was penned by BioCubaFarm Chairman Eduardo Martinez and his counterpart from Guang Xi Fukang Investment, Huang Lianshen, at the Cuban Embassy in Beijing.

Martinez told Prensa Latina that it is a comprehensive agreement that envisages the creation of joint ventures in both Cuba and China to make a group of major Cuban medications that are new and patented.

‘They are products to treat major health problems like myocardial infarction, strokes, cancer and neurodegenerative diseases,’ the expert commented.

He added that the document lays the foundations to establish a strategic alliance with that Chinese entrepreneurial group in short, medium and long terms in order to introduce medications into the Chinese market, but also in Latin America and other regions.

Martinez added that in Cuba, joint ventures will operate in the Mariel Special Development Zone (ZEDM, in Spanish), in the western part of the country.

For his part, Huang assured that the entry of Cuban biopharmaceutical products in China will have a great impact on the two countries’ economies and societies.

He added that the Cuban medications will have great demand among Chinese patients and will be an example and stimulation for the domestic pharmaceutical industry.

The delegation from BioCubaFarma is visiting China to boost bilateral cooperation in the field of biotechnology, which the two countries have promoted over the past 15 years.