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Cuban minister extols India’s potential in several economic sectors

New Delhi, Mar 14 (Prensa Latina) Cuban Foreign Trade and Foreign Investment Minister Rodrigo Malmierca on Tuesday highlighted India's strong potential in the sectors of renewable energy, biotechnology and the pharmaceutical industry.

The minister told Prensa Latina in New Delhi during a sideline at the Summit of Associations, organized by India’s Confederation of Industry and Ministry of Commerce and Industry, that the objective of the delegation he heads is to strengthen relationships between the two nations, specifically in the economic sector.

“We are participating in this meeting and having other contacts with Indian authorities, business organizations and chambers of commerce, among others,” the Cuban senior official emphasized.

We think that there is a very strong potential in the fields of renewable energy sources, where India has many technologies, as well as in the biotechnology and pharmaceutical industries, where both countries have some development, and all this encourages companies to boost trade and investment in Cuba, he explained.

Malmierca is visiting India at the head of a trade delegation that is participating in the 28th Summit of Associations.

During a country session on Tuesday as part of the meeting, Malmierca announced the sectors of greatest interest to develop investments with foreign capital in Cuba.

Among them are food production, tourism, including health tourism; power generation, with emphasis on the development of renewable energy sources, and the exploration and exploitation of hydrocarbons. The Cuban visitors underscored the advantages and incentives for foreign investors who select Cuba as an investment site, such as political, social and legal stability, the geographical location, the climate of security and high indicators in education, social security, and health care of the population.

Other advantages are highly qualified labor, the Government’s policy of prioritizing research and technological innovation, basic infrastructure with communications networks, airports and ports that admit deep-draft ships, almost the entire national territory electrified and railway and road communication.

On Tuesday, the Cuban Foreign Trade and Foreign Investment minister was received by Indian Vice President Jagdeep Dhankhar, with whom he discussed the close friendship between the two countries, which despite their diversity share common positions on the multilateral agenda.

Malmierca and his companions also met with the general director of the International Solar Alliance, Ajay Mathur; and Gurdeep Singh, Chairman of the National Thermal Power Corporation, a public power generation company.