“Cuba seeks World Trade Centre Mumbai’s assistance in supporting their effort to foster conventional trade relation with India” expressed H.E. Mr. Alejandro Simancas Marin, Ambassador of the Republic of Cuba to India at an interactive meeting organised by WTC Mumbai. He further added “India is a very important trade partner for us, but due to lack of knowledge Cuban companies are yet to recognise India as a potential market. Our government is working on educating our companies regarding the significance of the same. Having no direct flights between both countries is yet another reason that makes it difficult for the two countries to trade with each other “

Referring to India’s massive film industries, Mr. Marin expressed “Cuba has a big tourism industry and there is a vast potential for Indian investments in Cuba, specifically in tourism and the film industry’’.  He also pointed out that Cuba being a centre of the South American continent can be a gateway for Indian investors to enter Latin America and the Caribbean markets”.

Mr. Abel Aballe Despaigne, Deputy Head of Cuba Mission in India, in the meeting highlighted the five key sectors which have a huge untapped potential for India and Cuba to explore and collaborate for mutual economic development. These five sectors are: Renewable Energy, Biotech and Pharma, Information and Communication technology, Agro and Tourism. He also highlighted that during the Cuban Business Forum of 2020, Indian companies had the highest number of participation, outnumbering China.

Assuring Cuban representative of all possible support, Ms. Rupa Naik, Executive Director MVIRDC World Trade Centre Mumbai said “India and Cuba has lot of unexplored potential. WTC Mumbai being India’s premier international trade promotion organisation would like to be the bridge between Indian and Cuban traders.”  She extended her invitation to Cuban companies to participate in WTC Mumbai’s flagship event ‘Connect India’ which can further improve their understanding regarding Indian markets and opportunities therein. Connect India is set to commence on August 1, 2022.