India offers buses for Cuban transport system

New Delhi, July 13 (ANI): Pointing out that India is a major producer of world-class automobile products, Minister of State for Commerce and Industry Jyotiraditya M. Scindia conveyed India's desire to collaborate with Cuba in this sector including possible supply of buses for facilitating urban transport in Cuba.

Scindia, who led an official delegation to Havana, Cuba, from July 11-13 for bilateral discussions with Cuba for strengthening trade and investment ties between the two countries, also offered support in setting up railway and airport projects in Cuba as Indian companies have acquired considerable experience in these areas.

Scindia, who was accompanied by a business delegation, had bilateral delegation level talks with the Cuban acting Minister of Foreign Relations Marcelino Medino during which the entire spectrum of India- Cuba relations was reviewed with the objective of adding more economic content to existing strong political and cultural ties.

Scindia stated that the economic complementarities between the two countries, if exploited properly, would enable manifold growth trade and economic relations and this, in turn, would promote inclusive growth in both countries and provide innumerable benefits to our people.

He mentioned that energy and mining are the two sectors where Indian companies can participate in Cuba through investment in exploration, production, refining and marketing. In addition to ONGC Videsh Ltd., other public sector companies in oil sector are also keen to participate in Cuba.

Scindia also talked about India's position as a global supplier of good quality generic pharma products and identified this as a key area for enhancing bilateral economic engagements.

He suggested Cuba's participation in the India International trade fair in November 2012 and assured his support India's participation in the Havana Trade Fair this year.

In another meeting with the Cuban External Trade and Investment Minister Rodrigo Malmierca, both sides expressed disappointment at the low level of annual bilateral trade at about 40 dollars million as it is way below the true potential, given the synergies of our economies.

Scindia also had a meeting with the First Vice Minister of Basic Industries of Cuba during which the two leaders discussed ways to promote cooperation in the core sectors such as energy and mining.

Scindia also participated in a discussion with business entities from both sides and representatives from the Cuban Government. (ANI)