The “Cuba in Russia 2019” fair opened on Wednesday. The trade fair coincides with the 10th session of the Cuba-Russia Business Committee armed with the task of advancing bilateral economic cooperation and exchange.
The president of the Cuban Agricultural Enterprise Group Frank Castañeda made the announcement that a contract was signed on Wednesday for the exportation of fruit juices, nectars and tropical fruit pulps to the Russia Federation.
Ricardo Cabrisas Ruiz, Vice President of the Council of Ministers, heads the Cuban delegation of the Intergovernmental Commission. He will meet today with Yuri I. Borisov, the Russian Deputy Prime Minister.
As a result of the trade exhibition and the Intergovernmental Commission, Cuba and Russia have signed cooperation agreements to create more joint ventures.
Orlando Hernández, president of the Cuban Chamber of Commerce said that the purpose for the Cuban presence at the ExpoCenter Fair is to find new markets in Russia to receive Cuban exports.
Sectors with a presence at the Cuba in Russia fair include not only the agro-industry, food and beverages industries, but also Cultural products and services, Pharmaceuticals, Medical Equipment and Services, Tourism, Science, Construction, Technology and the Environment, Mining, Foreign direct investment opportunities, and joint ventures projects from Cuba’s Portfolio of Investment Opportunities.
Cuba is also seeking a greater presence of Russia in investment projects on the Island. Hernández stated relations with Russia are of vital strategic importance for Cuba from the trade perspective.
“We see that relations between the two countries are in full development, both at the governmental and business levels,” Hernández told the Sputnik news agency
Russia is Cuba’s second trading partner in Europe and among its top ten trade partners in the world. This exhibition is of great importance for bilateral trade ties between the two nations.
He confirmed that Cuba is making progress on important cooperation projects in sectors such as transport and energy with Russia, a country with a growing presence in Cuba.
Last week, the first Russia-Cuba joint venture, under the name, Teccomp Caribe, S.A. received approval to operate in the Special Development Zone at the Port of Mariel. making it the first Cuba-Russia joint venture in the Mariel project.