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Russia and Cuba take actions in a new stage of economic ties

Havana, May 19 (Prensa Latina) Russia and Cuba took actions in a new stage of economic-commercial relations, at the closing of the 11th Meeting of the Business Committee on Friday, which was attended by President Miguel Diaz-Canel in Havana's Hotel Nacional.

Deputy Prime Minister and Minister of Foreign Trade and Foreign Investment (MINCEX) Ricardo Cabrisas delivered the closing speech, in which he stressed the need to increase the presence of Russian capital in Cuba.

The deputy head of Government also called to increase Russia’s presence in Cuba’s socioeconomic development plans until 2030, and highlighted the participation of representatives of more than 150 Russian and Cuban companies in the 11th Meeting of the Business Committee.

The theme committees of the entrepreneurs’ meeting identified new projects in transportation, agriculture, agribusiness, construction, tourism, among others, the deputy prime minister pointed out at the forum, which was also attended by Cuban Prime Minister Manuel Marrero.

Cabrisas urged to increase Cuban exports to reduce the existing imbalance in trade between the two countries, which last year reached 452 million dollars.

The forum boosts not only relations between Russia and Cuba, but also between Eurasia and Latin America, since the two nations are fundamental to inter-regional ties, the minister noted.

Both nations have opportunities to strengthen collaboration in the so-called smokeless industry, with the implementation of the modality of corporate and health tourism, the head of the MINCEX stated.

The Russian deputy prime minister and co-chairman of the Russian side of the Intergovernmental Commission for Economic-Commercial and Scientific-Technical Cooperation, Dmitry Chernyshenko, assured that his country and Cuba are creating conditions for the work of entrepreneurs.

We will work with Cuba in the modernization of sugar mills and we will develop plans to establish steel production in Cuba with Russian products, as happened yesterday at the Antillana de Acero Jose Marti iron and steel factory, Chernyshenko concluded.


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