Kazakhstan intends to increase exports to Cuba by $ 40.6 million

June 9 of 2021, Nur-Sultan city. Vice-Minister of Trade and Integration of the Republic of Kazakhstan K. Torebayev held the meeting with the Ambassador Extraordinary and Plenipotentiary of the Republic of Cuba to the Republic of Kazakhstan, Mr. Emilio Pevida Pupo.

The parties discussed both problems and prospects for the development of bilateral cooperation in the field of trade and integration between Kazakhstan and Cuba, and also agreed on concrete further steps in joint work on the development of export potential and attracting investment.

Kairat Torebayev noted that the volume of trade turnover between Kazakhstan and Cuba for 2020 is very low, which according to our data amounted to 234.2 thousand US dollars, which is 32.4% lower than the previous year (346.7 thousand US dollars). Exports from Kazakhstan to Cuba in 2020 decreased by 85.9% and amounted to 0.3 thousand US dollars.

But, despite the decline caused by the COVID-19 pandemic, the parties noted the existing potential of certain goods to Cuba, such as meat, cereals, etc.

Moreover, in order to maintain and increase the volume of trade between our countries, Kazakh experts have prepared a list of potential goods that can be delivered to the Cuban market from Kazakhstan. This is more than 17 products worth 40.6 million US dollars.

The Ambassador Emilio Pevida Pupo stressed that Cuba is ready for comprehensive cooperation. Also taking into account that it has become an observer country in the EAEU, and hopes for cooperation with the EAEU countries on mutually beneficial terms. He also noted that Cuba has so far made impressive progress in the development of biotechnologies and pharmaceuticals and is ready to share its knowledge and developments and provide support in this area.

Considering that the Memorandum of Cooperation between the Chambers of Commerce of Kazakhstan and Cuba was recently signed, the parties agreed to continue working in the field of expanding trade relations.

At the end of the meeting, the Vice Minister thanked the Ambassador for the informative meeting, expressed hope for close mutually beneficial cooperation and wished him success in his future work.