Vietnam, Cuba determined to raise bilateral trade to US$500 million

Prime Minister Nguyen Xuan Phuc (R) hosts Cuban Minister of Foreign Trade and Foreign Investment Rodrigo Malmierca Diaz.

At the meeting, PM Phuc pledged to incentivize Vietnamese businesses’ investment in Cuba, saying that Vietnam rejoices at the socio-economic achievements Cuba has recorded in recent times and praises increasingly strengthened special and faithful relationship between the two nations.

The Cuban Minister pledged all-out efforts to help the inter-governmental committee work effectively.

Despite the Cuban economy facing numerous difficulties due to sanctions, it is trying its best to move forwards, he said while showing his appreciation for Vietnam’s rice supply for his country.

He voiced his hope that the Vietnamese Government will create the best possible conditions for businesses to keep up the provision.

Rodrigo Malmierca Diaz said Cuba desires to bolster exports to Vietnam, especially healthcare services and biological products, and also wants to draw more investment from the Southeast Asian nation as there are many Vietnamese enterprises operating effectively in Cuba.

Cuba is considering mechanism and policy improvements to ameliorate its investment climate and attract more foreign investment, he said, adding that his country wants Vietnam to help it with agricultural development as Vietnam is experienced in this area.

As both nations will celebrate 60 years of their diplomatic relations in 2020, they should work hand in hand to launch a string of practical celebratory activities in a bid to further foster the traditional friendship, the Cuban guest said.

Cuba greatly values Vietnam’s rising role and stature, especially when Vietnam will work as a non-permanent member of the United Nations Security Council for 2020-2021 and the ASEAN chair next year, he told his host.

The host leader said the Communist Party and people of Vietnam always bear in mind the strong support and wholehearted assistance from their Cuba counterparts during the past struggles for national independence and reunification as well as the current building of a socialist nation.

Vietnam will continue to work together with Cuba to ensure stable rice supply and intensify its investment in the Caribbean country, Phuc affirmed.

With regard to agricultural cooperation, he assured Vietnam’s readiness to assist Cuba on the basis of the latter’s potential and advantages and welcomed Cuba’s intention to spur the export of healthcare services to Vietnam.

Phuc also asked ministries and sectors to continue researching solutions to propel result-oriented bilateral relations forward and voiced Vietnam’s support for the Cuban people’s just fight and Cuba’s stance at UN forums.

Rodrigo Malmierca Diaz is leading a Cuban delegation to Vietnam for a meeting of the Vietnam-Cuba Intergovernmental Committee.