Saturday, July 14, 2012

India wants to cooperate with Cuba in energy, telecom

India wants to cooperate with Cuba in energy, telecom

Havana, July 14: India has expressed interest in expanding cooperation
with Cuba in the sectors of energy, telecommunications and tourism, a
media report said here.

Union Minister of State for Commerce and Industry Jyotiraditya Scindia
said during his ongoing visit here that his country was also interested
in working together with Cuba in the areas of pharmaceuticals,
petrochemicals, sugar, agriculture, agrochemicals, and mining, according
to Cuba's official daily Granma.

Scindia said India has extensive experience in developing information
and communications technologies, and is keen to cooperate with Cuba in
that area, reported Xinhua.

India had launched a global push to promote tourism over the past years,
Scindia said.

The industry is "very important, not only as a source of foreign
revenue, but also for employment", he said.

Scindia arrived in Havana Tuesday, where he met several top government
officials and business leaders, including Cuba's First Deputy Foreign
Trade and Investment Minister Orlando Hernandez.

On Thursday, Scindia inaugurated a bilateral business forum which was
attended by 25 Indian entrepreneurs.

Cuba-India bilateral trade peaked in the 1980s, standing at more than
$300 million a year, but has now fallen to around $50 million.

The Cuban government is planning to modify its foreign investment law to
attract more foreign capital, knowhow and advanced technology, while
stepping up promotion of its national products on the world market.

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