Articles Tagged with China

China, Cuba Cigar DealHabanos S.A.’s revenue from international sales rose 12 percent to a record ~$500 million in 2017 thanks to the growing Cuban cigar market in China, the company announced Monday at the annual cigar festival in Cuba.

Habanos S.A., jointly owned by Cuba’s state-run Cubatabaco and Britain’s Imperial Brands, owns the trademarks of every brand of Cuban-made cigars and cigarettes exported globally, including high-end brands like Montecristo, Cohiba, Romeo y Julieta, and Partagas.

The company announced that sales in China rose 33 percent in value last year. The Chinese export market is the company’s third largest after Spain and France.

Continue reading has enjoyed a significant trade relationship with China since the 1990s, though their relationship is a historical one as well. When Cuba declared its independence from the United States in 1902, China’s Qing dynasty quickly recognized Cuba as a sovereign state after its secession in the wake of the Spanish-American war.

Although Cuba and China were not aligned during the Cold War due to Cuba’s alliance with Russia, relations improved after the collapse of the Soviet Union, to the point where in 2014, bilateral trade between the two nations equaled about $1.6 billion. Chinese goods in the transportation and energy have contributed to the revitalization of those industries in Cuba. Now, after Irma, China has doubled down in its support of the island nation.

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China-Cuba-Cigar-Deal-300x200China National Tobacco Corporation (CNTC) and Cuban cigar producer Habanos S.A. signed an agreement in Havana over the weekend with the aim of increasing Cuba’s cigar exports to China.

Co-heads of Habanos S.A., Luis Sanchez-Harguindey and Inocente Nunez, and CNTC general manager Ling Chengxing signed the agreement on Sunday. Under the agreement, Habanos S.A. will assist China with the production of tobacco products while expanding the sale of its premium products in the Asian market.

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