India, Cuba discuss avenues for bilateral trade

Mumbai, May 26 (UNI) Avenues for bilateral trade between India and Cuba were discussed at an interactive meet organized by the Bombay Federation of Chambers of Commerce and Industries (FICCI) here today.

The visiting delegation, led by Cuban Deputy Minister of Foreign Trade Eduardo Escandell Amador, said there were immense opportunities for trade between the two countries, especially in sectors like energy, tourism, transport, packing and education.

''We see a lot of opportunities for trade especially in the transport and tourism sectors, where we can offer low cost, good quality holiday experiences,'' said Mr Amador at the meet.

He said Cuba placed priority on food, health, transport, infrastructure, housing and renewable energy sources including solar power, and bilateral trade could be explored in these areas also.

The delgation also made a presentation on the trade and commercial characteristics of Cuba, whose largest trading partners are Venezuela and China. Its major exports include pharmaceuticals, bio-chemical, tobacco, sugar, mineral and mineral oil. Cuba is a leading producer of nickel and the service industry accounted for three-fouth of the country's GDP, said the presentation.

''On the basis of our past relationship dating back to the Soviet era, which was cordial, we should see an increase in bilateral trade between the two countries,'' said G Badri Narayanan, FICCI consultant, to UNI.

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