Hu and Raul Castro, first vice-president of the council of state of Cuba, who represents Fidel Castro, jointly paticipated in the opening ceremony of an investment and trade seminar Tuesday morning.

"The Chinese Government and people are ready to work hard with the Cuban Government and people for a better tomorrow," Hu said while addressing the seminar.

Trade volume between China and Cuba has been around 400 million US dollars over the past three years. In the first nine months of this year, two-way trade reached 401 million US dollars, up 36.7 percent from the same period last year.

More than 500 Chinese and Cuban businessmen attended the two-day seminar, hosted by the Chinese Ministry of Commerce and the Cuban Ministry of Foreign Trade.

Raul Castro praised China's fast growth over the past two decades. He said there are great potentials to be tapped in the economic and trade areas.