• Submitted by: lena campos
• Business and Economy
• 01 / 27 / 2013

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Cuba''s foreign trade with Latin America and the Caribbean currently represents over 40 percent of global trade, which reaffirms its commitment to integration and cooperation with the region.

This was recognized in a recent interview with Granma International by the Cuban Vice Minister of Foreign Trade and Foreign Investment, Orlando Hernandez, whose country will assume the presidency of the Community of Latin American and Caribbean States (CELAC).

Hernandez said that the substantial weight of the trade relationship with the region lies in Brazil, Mexico and Venezuela.

In the case of Venezuela, it is the first trading partner of the island and an important energy resources supplier to supplement domestic production, he expressed.

On the other hand, he added that even though the Cuban government develops concrete actions to promote the substitution of food imports, the country continues to purchase annually between 1, 7 and 1, 8 billion dollars in food.

He indicated that Latin America is a major supplier of food, primarily countries like Brazil and Argentina.

Meanwhile, he said, Cuban exports to the region in terms of numbers are approximately over 650 tariff item number.

It is not yet what we want, but it speaks of the development achieved in recent years by trade, which is not limited to the export of sugar and nickel, with little weight in the region, he said.

According to Hernandez, the exports of diversified in a wide range, from the services, especially health, biotechnology products to construction materials.

He stressed that through this exchange there are financial resources that sustain that relationship.

Cuba will assume the pro tempore presidency of CELAC during the summit of heads of state and government of the bloc, to be held in Chile on January 27 and 28.

To Havana, it is a sign of confidence of the member countries on the principles and values of Cuba, its broad vision on foreign policy and on the problems of humanity and solidarity.

Source: Prensa Latina