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New opportunities for developing trade and economic cooperation discussed during EAEU-Cuba Business Dialogue
In order to intensify trade, the countries of the Eurasian Economic Union and Cuba should work more actively to expand contacts between representatives of the business community. Experts came to this opinion during the EAEU – Cuba business dialogue, which took place on September 30 within the Eurasian Economic Forum in Yerevan.
"Cuba is one of the EAEU key partners in the Latin America and Caribbean region. We see practical interest of the business community in trade and economic cooperation in such spheres as pharmaceuticals, medical services, agricultural production, energy and transportation," noted Gohar Barseghyan, EEC Minister in charge of Industry and Agriculture.
Gohar Barseghyan emphasized that the EEC offers its infrastructure for promoting interaction between the business circles of the EAEU and Cuba. Business seminars or business missions featuring entrepreneurs from the Union and Cuba take place within the meetings of the Joint Commission, which was established by the Memorandum of Understanding between the EEC and the Government of Cuba; traditionally, companies from the Union countries participate in the largest Cuban congress and exhibition event — FIHAV fair.
Deborah Rivas Saavedra, Deputy Minister of Foreign Trade and Foreign Investment of Cuba, highlighted the areas of cooperation on which the EAEU and Cuba should focus their efforts. These areas are linked to the strengths of the Cuban economy — tourism, light industry, food and beverage production.
Representatives of Cuban business circles and experts from the Union countries noted the possibility of establishing joint ventures in Cuba to enter the consumer market of the entire Latin American region. Such joint ventures could be engaged in production of citrus fruits, pork and poultry, modernization of Cuban industrial production, digital transformation of the economy, production of organic fertilizers and other goods for export both to the EAEU countries and third countries of the region, as well as electricity generation using solar panels.
Sergey Krasilnikov, Vice-President of the Russian Union of Industrialists and Entrepreneurs, shared his proposals on developing cooperation and better leveraging the existing trade and economic potential. In general, these proposals are related to the need to work more closely in such areas as legal relations in the field of land use and intellectual property, functioning of mobile communications and payment systems in Cuba, opening of bank branches, improving logistics, including the entry of vessels flying the flags of third countries into seaports, regulation of the Cuban labor market, etc.
