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Cuba eyeing pharmaceutical production in Great Stone Park

Economy 23.10.2019 | 12:42

MINSK, 23 October (BelTA) – Cuba is interested in setting up a pharmaceutical company in the Great Stone Industrial Park, Industry Minister Pavel Utyupin told the media on 23 October, BelTA has learned.

On 22 October, the Cuban delegation paid a visit to the Great Stone Park. After the visit the Cuban president expressed interest in registering a pharmaceutical company in the park. “He said that it can be a good platform for Cuban pharmaceutical companies to get access not only to the market of Belarus and the Eurasian Union but also to the market of the European Union,” the minister said.

The parties also discussed the setting up of joint assembly plants. “I cannot say that we have already reached agreements. We are in talks on the joint assembling of tractors. There is also a request from Cuba to help them launch the production of refrigerators,” Pavel Utyupin said.

Belarus is ready to support many initiatives. “The only question is how to work out financial schemes. Belarus has its resources here. The recent practice has shown that the credit lines of more than €30 million that were opened in 2016 advanced our products. Another mechanism that has been chosen and tested (I think we will agree to continue using it) is a method of mutual supplies, when products of the Republic of Cuba, medications in particular, are delivered to the Belarusian market in exchange for mechanical engineering equipment, tractors, spare parts and other Belarusian products,” he said.

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