(VOVworld) – The Vietnam Chamber of Commerce and Industry and the Cuban Embassy in Vietnam held a meeting of business people from the two countries on Wednesday in Hanoi.

Delegates at the meeting (Photo: Nguyen Hang/VOV)

The event was aimed at creating opportunities for Vietnamese businesses to receive updates on Cuba’s economy and trade in the renewal process and to work with Gecomex, a leading Cuban import-export group. Cuban Ambassador to Vietnam Herminio Lospez Diaz said upgrading level of bilateral cooperation is the responsibility of the two governments and depends on the dynamism of their business communities: “We hope both countries will cooperate in trade and there will be an increased presence of Vietnamese investors in Cuba. Cuba wants to increase exports of its goods and services to Vietnam. During its development in a new era and context, Cuba expects to work closely with Vietnamese enterprises in the new future”.

In 2015, Vietnamese-Cuban trade turnover stood at 235 million USD.  Vietnam exported foods and foodstuffs, footwear, construction materials, coal, garments, and chemicals to Cuba and imported medicines and functional food. By December 2015, Cuba had 1 project worth 6.6 million USD, ranking 75^th among 100 countries and territories investing in Vietnam. Vietnam’s leading companies such as PetroVietnam Exploration Production Corporation, (PVEP), and Vietnam Glass and Ceramic Joint Stock Corp. (Viglacera) are also investing in big projects in Cuba.