Trade with India to jump to $100 mn in 3 years: Cuba

KOLKATA: The trade between India and Cuba is likely to touch $100 million over the next three years.

"I hope the bilateral trade with India will increase to $100 million from $40 million last year," Cuban Ambassador to India M A R Ramos said here on Saturday at an interaction with members of the Bengal National Chamber of Commerce and Industry.

Ramos said China was the main trading partner of Cuba in Asia, accounting for 69 per cent of the total trade in the region.

He, however, expressed hope that henceforth trade relations between India and Cuba would take a new leap as some prior hurdles had been overcome.

Ramos said the Export Credit Guarantee Corp offered credit guarantee for export, and last year Exim Bank had extended $100 million credit to the communist state.

Last year, India has also waived $70 million debt, including interest, of Cuba.

The major Cuban exports to India are rum, cigar and nickle while, pharmaceutical, textile and leather are some of the products that are exported from India.