"The Asia Pacific region is a key engine of the global economy," she said in New York in a talk at the Asia Society.

However, the standoff between China and several neighbors over disputed islands must be resolved, she warned.

"We will not be successful in promoting economic development and prosperity if there are tensions," she said, adding Thailand was "determined to do what we can" to defuse the situation.

"We believe that maritime areas such as the South China Sea should be seen as an area of... potential."

China is in an increasingly terse dispute with Japan over ownership of islands in the East China Sea, while there are also disputes with Vietnam and other countries in the South China Sea.

Thailand's own economy took a hit after violent protests in 2010, but has settled down, Shinawatra said.

"After several years of the political unrest, Thailand is experiencing a much welcomed period of stability," she said, noting that GDP growth of between 5.5 and six percent was expected in 2012.

She also highlighted the opening up of Myanmar as a positive development for the region's economy.

"We are confident that this change will benefit the people of Myanmar, as well as the economy of the whole region."

Speaking on state-run television, Cabrisas said Cuba is committed to "strict compliance of our financial obligations with China, including those related to the rescheduling of our debt."

Cabrisas, who gave no details about the size of Cuba's debt with China, made his remarks after the conclusion Wednesday of the latest round of bilateral trade talks.

China's growing investment in Cuba can be seen in the context of helping Cuba's domestic development, the minister said.

"We are heading into a higher stage (of investment) as part of our social and economic development plan for our country," Cabrisas said.

Beijing's Minister for Commerce Chen Deming, who represented China at the talks, said Cuba's payments towards its debt had "contributed to the restoration of confidence" between the two trade partners.

China is Cuba's second biggest trade partner after Venezuela. Their bilateral trade in 2011 was $1.9 billion, with about two-thirds of that balance in China's favor. Trade reached $870 million for the first half of this year.

The deal covers 10 joint enterprises -- six in Cuba, four in China -- in several areas, including farming, light industry and tourism.

The agreement also will allow Havana to obtain replacement parts for thousands of trains, buses cars and trucks purchased from China in 2006 by then-President Fidel Castro. Another important project involves China's assistance with construction at Cuba's key port of Mariel, news reports here said.

Havana exports primarily commodities to China such as sugar and nickel, as well as some biotechnology products.