Malmierca explained to the attendees about the opportunities and securities that Cuba offers
to invest. Photo taken from Excelencias Cuba
By María Josefina Arce (RHC)
Cuba's participation in the Summit of Associations of the Confederation of Indian Industry has been an opportunity to review more than six decades of cooperation and outline new strategies to advance in its strengthening.
The Cuban Minister of Foreign Trade and Investment, Rodrigo Malmierca, has developed an intense agenda in the Asian nation, which has included meetings with local authorities and businessmen.
Both Havana and New Delhi have agreed that there is potential to increase bilateral trade, which is being worked on. To that end, the Cuba Bureau of the Office of Latin America and the Caribbean of the Economic Trade Organization of India was inaugurated last year in the city of Hyderabad, with the purpose of promoting trade and economic ties between the two nations.
It also seeks to expand the profitable collaboration in renewable energy, as well as in the pharmaceutical and biotechnology industry, an area in which Cuba is showing remarkable results.
The two parties have already maintained for years a very beneficial link in the biotechnological field. Havana has transferred technologies to the Asian country, from which it has acquired raw materials.
The business forum conducted by the Indian Economic Trade Organization in the city of Bangalore, in which more than 60 Indian businessmen participated, was very illustrative. Malmierca explained to the attendees about the opportunities and securities that Cuba offers for investment.
The Cuban state has a legal framework that protects foreign investments against third party claims, in view of the extraterritorial application of laws such as the Helms Burton Act, which reinforces the U.S. blockade.
At the meeting in that city, capital of the state of Karnataka and center of the national high-tech industry, it was agreed to hold a Business Forum with the Caribbean nation as the scenario.
Precisely, the Pyme 2023 Forum will be held in India from the 19th to the 21st, an event that will give visibility to micro, small and medium-sized enterprises, an experience that is gaining strength in Cuba and that is called to contribute to the progress of the Caribbean country.
In more than six decades Cuba and India have forged close ties, which Cuban President Miguel Díaz-Canel has described as uninterrupted and exemplary, based on mutual respect and collaboration.