Cuba, India seek expanded cooperation in energy, telecom, tourism

14 Jul 2012  1037 | World Travel News

HAVANA, July 13 (Xinhua) -- India has expressed interest in expanding cooperation with Cuba in the sectors of energy, telecommunications and tourism, media reports said here Friday.

Indian Commerce and Industry Minister Jyotiraditya Scindia said during his ongoing visit here that his country was also interested in working together with Cuba in the areas of pharmaceuticals, petrochemicals, sugar, agriculture, agrochemicals, mining and services, according to Cuba's official daily Granma.

Scindia, head of a visiting Indian business delegation, said India has extensive experience in developing information and communications technologies, and is keen to cooperate with Cuba in that area.

India had launched a global push to promote tourism over the past years,Scindia said. The industry is "very important, not only as a source of foreign revenue, but also for employment," he said.

Scindia arrived in Havana Tuesday, where he met with several top government officials and business leaders, including Cuba's First Deputy Foreign Trade and Investment Minister Orlando Hernandez.

On Thursday, Scindia inaugurated a bilateral business forum which was attended by 25 Indian entrepreneurs led by Inderdeep Singh, president of the Indian Confederation of Industries.

During his meeting with Scindia, Hernandez said Cuba had prepared an offer of seven joint venture projects with Asian entrepreneurs in the fields of renewable energy, oil, paper, chemicals and tourism.

Cuba-India bilateral trade peaked in the 1980s standing at more than 300 million U.S. dollars a year, but has now fallen to around 50 million dollars.

The Cuban government is planning to modify its foreign investment law to attract more foreign capital, knowhow and advanced technology, while stepping up promotion of its national products on the world market.

Sourced: Xinhuanet