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Belarus, Cuba to consider joint ventures in logistics, mechanical engineering

Economy 21.10.2019 | 17:46
An archive photo
An archive photo

MINSK, 21 October (BelTA) – The idea to establish Belarus-Cuba joint ventures in logistics and mechanical engineering holds a lot of promise, Chairman of the Belarusian Chamber of Commerce and Industry Vladimir Ulakhovich told reporters prior to the meeting with Vice-President of Cuba's Council of Ministers Ricardo Cabrisas Ruiz, BelTA has learned.

“This matter has always been high on the agenda. The thing that can be launched in the nearest future is a cooperation project in logistics. We have major players, including private firms, and we can take advantage of our cooperation with Cuba, its ports and transportation network, in order to advance to the markets of Latin America,” he said. According to Vladimir Ulakhovich, mechanical engineering is another promising avenue of cooperation.

The participants of the meeting discussed ways to enter the Cuban market and mechanisms to facilitate mutual trade. Vladimir Ulakhovich believes that Belarusian companies are keen to secure a foothold on the Cuban market. Cooperation in science and technology is also high on the agenda. Products of Belarus' industry giants are in demand in Cuba. However, there are some issues with deliveries; financial instruments are not fully available yet. “We are absolutely aware of the obstacles impeding our trade and economic relations. Our common goal is to find a way to overcome them,” Vladimir Ulakhovich said.

Ricardo Cabrisas Ruiz confirmed Cuba's interest in stepping up trade and economic relations and overall cooperation with Belarus. As far as supplies of Belarusian products are concerned, agricultural machinery is of particular interest to Cuba. According to the vice president, the parties have great potential for mutually beneficial cooperation.

In 2018 Belarus-Cuba trade approximated $17 million, of which $15 million was Belarus' export.

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