In his speech before the prime ministers and heads of delegations of the member states and observers of the Eurasian Economic Union, the Cuban Head of Government ratified the political will to deepen relations with the nations of the Union. He also stated the intention to achieve an active participation of the Eurasian business community in investment projects, increase and diversify exports of goods and services and implement joint ventures in various sectors. He also highlighted the need for collaboration between these States in the context of complex international circumstances.

Marrero Cruz extended the invitation to the government and business representatives of the countries of the Union to participate in the thirty-eighth International Fair of Havana, which will be held from November 14 to 18.

The Prime Minister thanked, on behalf of the Cuban people and Government, the expressions of solidarity due to the fire that occurred at the Supertanker Base in Matanzas, as well as the permanent support of the Member States of the Union to the Cuban cause for the cessation of economic, commercial and financial blockade imposed by the United States government.

This is the fifth session of the Eurasian Intergovernmental Council in which Cuba participates, after receiving the status of observer State of the Eurasian Economic Union on December 11, 2020.

(With information from Cubaminrex)

Becali expects both to train professional athletes here, and to expand cooperation in sports; thus he met with Le Khanh Hai, the vice minister that handles Sports within the portfolio also in charge of Tourism and Culture, with promising results.

As in other countries, we evaluate the sporting chances that our Olympic Games’ athletes come here to train; therefore, we reviewed Vietnamese potential in several disciplines, its infrastructure and other conditions, Becali told Prensa Latina.

The Vietnamese are also interested in Cuban boxing and volleyball coaches coming to work here and we also talk about exchanges of visits by national teams, he stressed.

During his Asian tour, the president of the National Institute of Sports, Physical Education and Recreation (INDER) made a first stop in Mongolia, where he was received by the highest sports’ authorities of that country.

Mongolia is very strong in combat sports such as wrestling, especially in the female branch, and we want to take advantage of its potential. Also, in sport shooting and archery, a specialty in which they have a very advanced technology, he referred.

So we talked about the convenience of training our teams of these sports there, Becali said, and as we will do tomorrow in the case of Vietnam, we visited numerous facilities to see if they comply with the conditions required for it.

In addition, we assessed the possibilities of training Mongolian trainers from other disciplines in Cuba.

From Hanoi, the Cuban sports leader will travel to Tokyo on Saturday.

Apart from being the headquarters of the Olympic Games, he pointed out, Japan is very interested that Cubans are going to prepare there because there are many sports in which we are coincidentally strong, such as boxing, athletics, wrestling and, of course, baseball, that returns to the Olympic program.

Of course, in the case of baseball, our attention will be focused on complying with a strategy that guarantees our qualification, but afterwards, he said, there is a good chance that we will do a correct preparation in Japan, where we have players who are having very positive results.

In the Land of the Rising Sun, Becali plans to meet with the presidents of the Organizing Committee of the Olympic Games and of the federations of professional baseball, judo and gymnastics, as well as with the Minister of Sports.

There are four nations that are key in our training plans for the Olympic Games, the three already mentioned and China, but we will visit this one on a later occasion, he concluded.

(Prensa Latina)

This reality contrasts with the history of this area, with the greatest concentration of the global population, which for many years was dependent on financial institutions dominated by the West and often neglectful of its principal needs.

In this context, the Asian Infrastructure Investment Bank (AIIB) emerged, with the aim of creating a solid financial system and articulating the flow of investment for the development of infrastructure in the continent.

But this new body, described by experts as the multilateral lending institution of the 21st century, also aims to rescue those areas of the region somewhat abandoned by both the World Bank and the Asian Investment Bank (AIB), as well as encourage trade and economic cooperation with other countries of Europe and Africa.

Over 400 days since it began operations, this organization, which emerged from a Chinese initiative, already has a total of 57 members and over 1.73 billion dollars approved for nine infrastructure plans in different nations of the region.

The establishment of the bank, which is currently based in Beijing, is also part of the Asian giant’s plans to recreate the ancient Silk Road and achieve greater interconnections between Asia and Europe.

The AIIB’s current capital amounts to 100 billion dollars, of which China, as the main promoter, has contributed half.

In response to claims that this enormous contribution would give Beijing almost absolute control over the organization, Chairman Lou Jiwei stated that the 50% input represents support for the new project and the participation of the Asian giant, although extensive, will gradually be reduced as new countries join the initiative.

India, Russia, Germany, and South Korea stand out as the other major shareholders in the bank, founded on June 29, 2015, and inaugurated last year.

APPROVED PROJECTS

While the AIIB’s greatest ambition is to promote Asia’s social and economic development through projects that connect people, services, and markets, it must first work to reconfigure the current outlook for certain countries of the region.

As such, among its most immediate challenges is the financing of works to modernize highways, railroads and ports, improve access to electricity, expand telecommunications services, promote urban planning and provide sanitation and potable water services – basic issues to dramatically increase connectivity between regions.

Currently, as well as monitoring financing of the “Silk Road Economic Belt and the 21st Century Maritime Silk Road”, the AIIB is participating in nine investment projects, such as the construction of a gas pipeline in Azerbaijan and the building of a commercial port terminal and new railroad system in Oman.

The bank will also provide 20 million dollars for the development, construction, and operation of the largest independent combined-cycle gas turbine power plant in Myanmar.

A loan of 216.5 million dollars has been approved to improve access to urban infrastructure and services in poor neighborhoods of Indonesia.

Meanwhile in Pakistan, Bangladesh, and Tajikistan, the bank will support the M-4 National Highway project, the expansion of the energy distribution system, and a plan to improve border highways, respectively.

According to AIIB directors, the completion of these works in strategic sectors will allow the institution to work toward more ambitious goals, such as the advance of green infrastructure to ensure the countries involved meet their development objectives, as well as those concerning care for the environment.

A NEW FINANCIAL ORDER?

According to an editorial published in The New York Times, “Countries are finding they must increasingly operate in China’s orbit.”

This probably explains why there are 20 are nations from other continents, including Germany, the United Kingdom, France, Italy and Spain, among the 57 AIIB members.

For these members of the international community, the brand-new bank offers financial advantages and for this reason they have decided to join it.

The emergence of this institution is also part of the constant struggle between the United States and China, the world’s first and second powers, respectively, to expand their influence on the global economy.

Meanwhile, it is worth noting that Beijing, despite not experiencing its best times, has decided to promote an initiative such as the AIIB with the willingness, at least, to attend to the needs of a region such as the Asia-Pacific.

Faced with the dominant and hegemonic structure of the World Bank and the International Monetary Fund, heirs to the Bretton Woods agreements following WWII, the AIIB offers an alternative to nations of the South, a novelty in the context of international financial power.

(Granma)