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Cuba and India Discuss Trade and Investment

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Foreign Investment Minister Rodrigo Malmierca with Deepak Bagla, Managing Director of Invest India, meet. Photo courtesy: Twitter

Cuba and India discuss trade and investment as Cuba’s delegation, led by the Minister of Foreign Trade and Investment Rodrigo Malmierca, crossed the country.

Minister Malmierca presided over an exchange of business opportunities during the Cuba Country Session at the Partnership Summit 2023. The meeting focused on the possibilities for Indian and Cuban businesses in the renewable energy, agriculture, and pharmaceutical sectors.

Invest India, the National Investment Promotion and Facilitation Agency of the Government of India is the first point of reference for the global investment community. It will collaborate with ProCuba to create capacities and promotion of trade between Cuba and India.

BioCubaFarma and Unión Eléctrica de Cuba (UNE) presented investment opportunities for Indian companies involved in the biopharmaceutical and renewable energy sectors.

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The Minister highlighted the environment Cuba has developed for investors for companies in terms of trade and investment.

Cuba’s delegation visited Bangalore, India’s center of the high-tech industry. They attended the Economic Trade Organization forum to promote investment in the Island. They met with Chief Minister Basavaraj Bommai and Kiran Mazumdar-Shaw, president of the biopharmaceutical company Biocon. Biocon is currently developing business ties with BioCubaFarma.

The delegation plans to talk with the general director of the International Solar Alliance, Ajay Mathur, and with Gurdeep Singh, president of National Thermal Power Corporation Limited of the Ministry of Energy of the Government of India.

Malmierca has also met with the Vice President of India, Jagdeep Dhankhar, to discuss bilateral issues.

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On Monday, Malmierca and the delegation met with India’s Minister of Energy and Renewable Energies, Raj Kumar Singh, who attended the opening of the Industry Associations’ Summit of the Indian Confederation.

Minister Malmierca confirmed on Monday at the opening meeting that Cuba will defend multilateralism at all costs in the United Nations in its current role as the presidency of the Group of 77 + China.

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