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Cuba-Vietnam Trade Opportunities Recognized

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Havana, cuba.- The commercial exchange between Cuba and Vietnam has potential to reach 500 million dollars before 2022, said the ambassador of the Asian nation in the island, Nguyen Trung Thanh, on Wednesday.

With regard to his participation in a business forum held between the two countries in the emblematic National Hotel of this capital, the official revealed that although the growth rate of mutual exchange is favorable, there are other opportunities to be exploited.

Trade between Cuba and Vietnam amounted to 340 million dollars in 2018 and currently the Indochinese country is the second most important partner within the Asian continent and is among the five most relevant foreign investors, he pondered.

Relations have never been better between our countries, he said, and political trust is at the highest level.

Currently, he revealed, we are perfecting the mechanism to support economic collaboration, we already have the bilateral joint committee and, in each area where there is a common interest, working groups are being created.

Orlando Hernandez, president of the Chamber of Commerce of Cuba, considered that this meeting is a sign of the will of both parties to intensify existing ties of friendship and collaboration and to promote economic and commercial relations between nations.

We have recognized that there is enormous potential for the development and consolidation of bilateral links in the sectors of health, biotechnology, agri-food, tourism, construction, information technology, and communications, he said.

The executive recognized that Cuba faces a complex situation with limited external financial resources and availability of foreign exchange, a situation in which the available resources are optimized, the export of goods and services is boosted and the attraction of greater volumes of foreign investment.

Vo Tan Thanh, vice-president of the Vietnam Chamber of Commerce and Industry, revealed that this meeting was attended by fifteen state-owned, private and mixed companies in areas such as construction, agriculture, health and pharmaceuticals.

The business forum held during this day is part of the actions agreed in the Action Plan 2019-2020 signed in Hanoi last April, and aims at inter-company exchange and greater knowledge of the respective markets, in order to promote the potential of mutual business.

The agenda also included a presentation on the existing environment in the country for attracting foreign investment and the benefits offered by the Western Special Development Zone of Mariel.

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