Cuba and Vietnam sign six cooperation agreements

Cuba and Vietnam both expressed their willingness to strengthen economic and bilateral commercial ties with the signing of six accords, during the Cuba-Vietnam Business Forum which saw the participation of Vietnamese President, Truong Tan Sang.

The agreements established between various entities from both countries, are aimed at increasing cooperation and promoting mutual investments.

Among these are cooperation agreements between Cuba’s Chamber of Commerce and Vietnam’s Chamber of Commerce and Industry, as well as the National Bank of Cuba and Vietnam’s Agricultural and Rural Development Bank (Agribank).

Agribank also signed a cooperation accord with Cuba’s International Commerce Bank.

As part of the Business Forum program, the creation of a joint enterprise to construct a five star hotel in Havana was agreed upon; while a memorandum of understanding relating to cooperation opportunities in the sphere of oil and gas exploration, exploitation and production on the island.

Representatives from the two countries also agreed to establish a work schedule for the establishment and construction of a joint enterprise in the Mariel Special Development Zone for the sale and production of detergent in Cuba.

The President of Vietnam, Truong Tan Sang, noted that the Forum contributes to strengthening relations of friendship and fraternity, as well as economic exchange.