Russia and Cuba sign trade and economic cooperation programme until 2030

Russia and Cuba sign trade and economic cooperation programme until 2030. Deputy Prime Minister Dmitry Chernyshenko has held a working meeting with Vice-President of the Council of Ministers of the Republic of Cuba Ricardo Cabrisas

Deputy Prime
Minister Dmitry Chernyshenko has held a working meeting with Vice-President of
the Council of Ministers of the Republic of Cuba Ricardo Cabrisas to discuss
bilateral trade, economic and humanitarian cooperation.

Russia and Cuba have a
long-standing track record of maintaining constructive and trust-based
relations. On 7 October, President of Russia Vladimir Putin had a telephone
conversation with President of Cuba Miguel Diaz-Canel Bermudez during which the
parties reaffirmed their commitment to strengthening ties between the two
countries on a wide range of matters.

“It is a pleasure to note
that our two countries have remained proactively involved with one another in
this turbulent geopolitical environment, which reaffirms the allied nature of
our bilateral relations. We view matters dealing with ensuring steady supplies
of oil and petrochemicals, wheat and fertiliser as our priority considering their
importance for Cuba. Offering preferences to Russian investors in the Cuban
economy is another priority in terms of promoting bilateral relations. In this
regard, the bilateral intergovernmental commission plays an instrumental role.
We are looking forward to receiving a response to our proposal to hold the
commission’s 21st session in the second half of February 2024 in
Moscow on the sidelines of the Rossiya (Russia) International Exhibition and
Forum,” Dmitry Chernyshenko said.

In his remarks, Ricardo Cabrisas reaffirmed Cuba’s
commitment to developing its cooperation with Russia.

“By working together we
have been able to follow a coordinated approach. I am satisfied with the
efforts we are currently undertaking,” Vice-President of the Council of
Ministers of Cuba said.

He went on to speak in favour of the proposal to hold
the intergovernmental commission’s meeting in February 2024 in Moscow.

The meeting’s
agenda covered joint initiatives carried out by Russia and Cuba, such as
projects to build solar power plants in Cuba, a full cycle agro-industrial
complex for growing and processing sugar cane, producing fertiliser, and
undertaking various infrastructure projects. Dmitry Chernyshenko emphasised the
importance of stepping up bilateral ties in the energy sector.

In addition to this, efforts to promote tourism were also on the agenda.
In the first six months of 2023, over 60,000 Russians travelled to Cuba, and
the tourist flow has been steadily increasing with the launch of regular air
services between the two countries on 1 July 2023. The Russian Ministry of
Transport wants to increase the number of Russia-Cuba flights to up to 10 per
week by the end of 2023.

Following the
meeting, a programme for trade and economic cooperation until 2030 was signed.
It provides for the expansion of trade, economic, scientific and technical
cooperation, facilitating trade and investment, and strengthening ties between
business associations by creating an enabling environment for promoting closer
ties between Russian and Cuban companies.

Also taking
part in the meeting were Presidential Commissioner for Entrepreneurs’ Rights
and Chair of the Russia-Cuba Business Council Boris Titov, representatives of
the Russian Foreign Ministry, Ministry of Industry and Trade, Ministry of
Energy, Ministry of Agriculture, Ministry of Finance, Ministry of Economic
Development and Ministry of Transport, as well as officials from the Cuban
Ministry of Foreign Trade and Foreign Investment, the country’s Central Bank
and Foreign Ministry.

Latest news
Related news