Mon. Apr 6th, 2020

Cuba and Russia sign agreements and aim to strengthen the economic relationship

Cuba and Russia sign agreements and aim to strengthen the economic relationship

Cuba and Russia signed seven agreements in Havana today for collaboration in areas such as the steel industry, sports and customs services, while also betting on strengthening the bilateral collaboration, trade and investments of the Eurasian country on the island.

These are the main results of the "fruitful" XVI intergovernmental commission led by Cuban Vice President Ricardo Cabrisas and Russian Deputy Prime Minister Yuri Borisov, to follow up on the joint projects promoted in recent times in numerous areas.

One of the collaboration agreements is related to the sports sector and physical culture, another proposes to modernize three power generation blocks, and a third refers to the provision of customs supervision and inspection services, according to state media.

In the case of the new Cuban-Russian contracts, they are destined to renew and expand the production of steel and laminates, to the supply of rolling stock, of LED lamps and their spare parts.

In addition, a memorandum was signed on the evaluation of geological resources and prospects for the development of oil deposits in the northern part of the Caribbean country.

The Russian deputy prime minister stressed the importance of relations with Cuba and assured that both countries are living a stage of relaunching bilateral ties.

He indicated that there are currently 16 joint projects in preparation, acknowledged the interest of both parties in increasing economic cooperation and recalled that in 2017 bilateral trade reached 200 million dollars, double the figure recorded in 2015.

Borisov stressed the "great importance" that Moscow grants to the official visit that will be made to Russia by Cuban President Miguel Diaz-Canel, from next Thursday, during which long-term projects will be analyzed and issues of the international sphere will be discussed.

Díaz-Canel received Borisov on Tuesday and during the meeting he emphasized the economic relationship and the willingness of both countries to achieve an active participation of Russia in the long-term development plans of Cuba.

For his part, the Cuban vice president and former Minister of Economy, Ricardo Cabrisas, stressed the importance of continuing to deepen bilateral relations, in particular through an "effective participation of the Government and Russian companies in the development plans of Cuba until 2030 and onwards".

Cabrisas said that the two countries coincide "broadly" on issues on the international agenda, and described as "productive" the meetings of the intergovernmental commission that discussed the development of projects in areas such as health, sports, energy, transportation, science, technology and agriculture.

"The bilateral economic agenda, signed in 2012, has allowed us to advance in various areas, and based on our analysis, we propose to update these plans in a future meeting, in such a way that it is possible to further strengthen our relations," the Cuban vice president stressed. .

Cabrisas said that Russia is one of the 10 first commercial partners of Cuba, and advocated to increase Cuban exports to that country, encourage the export of services from the medical-pharmaceutical industry and biotechnology and for greater investment of enterprises of the Eurasian nation. on the island.

One of the projects underway on the island with Russian investment will be responsible for improving road capacity and reviving the depressed rail system of the Caribbean country with the investment of some 1,000 million euros until the year 2030.

Cuba recognizes that its association with Russia is "strategic", and in recent years both governments have given a boost to their bilateral relationship to reactivate the close cooperation they maintained before the disappearance of the Soviet Union in 1991.

Havana and Moscow have reactivated economic cooperation in various sectors, including Russian tourism that is also emerging as a possible supplier of oil to the island that has seen reduced subsidized supplies received from Venezuela due to the crisis in that country. country.


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