• Submitted by: manso
• Business and Economy
• 07 / 14 / 2011

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13:37, July 14, 2011. Business representatives from both Cuba and Russia signed an action plan on Wednesday to strengthen bilateral economic and trade cooperation.

They also inked a number of documents at a joint work session held in the Cuban capital.

Eduard Vaino, a Russian representative, said cooperation in such "promising areas" as energy, oil exploitation, the pharmaceutical sector and tourism was preferred.

Cuban representative Ernesto Lage said he was in favor of working to improve the existing relations and cooperation between Cuba and Russia in business and trade.

Estrella Madrigal, president of the Cuban Chamber of Commerce, said Cuba is increasing its management efficiency in foreign trade, and Russia is their priority market.

Russian Ambassador to Cuba Mijail Kaminin said the economic, commercial and investment relations between the two nations are developing with dynamism.

Over 30 companies from Russia and 60 from Cuba attended the work session of the Cuban and Russian business councils.

The Russian-Cuban trade volume topped 283 million U.S. dollars in 2009.

Source: Xinhua at http://english.peopledaily.com.cn/90001/90777/90852/7440087.html