• Submitted by: lena campos
• Business and Economy
• 07 / 14 / 2012

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India has expressed interest in expanding cooperation with Cuba in the sectors of energy, telecommunications and tourism.

Minister of State for Commerce and Industry Jyotiraditya Scindia said during his ongoing visit that India 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 on 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.

Source: First Post.com