Hanoi (VNA) -The Inter-Governmental Committee for Economic, Commercial, Scientific and Technological Cooperation between Vietnam and Cuba commenced its 33rd session in Hanoi on November 16, reviewing past cooperat🎶ion and setting out new tasks.

As heard during the meeting, a project supporting Cuba’s rice production from 2010-2015 has thus far contributed 23 percent to the nation’s output. This helped Cuba cater to 63 percent of domestic demand. Cuba has worked with Vietnam to study and produce vaccines and biomedicines for domestic use and regional export. Their bilateral investment recorded positive outcomes with a number of pacts sealed in various fields. These agreements include the building of a five-star hotel in the Cuban capital of Havana, the upgrade of two construction material factories in Cuba, and joint activities in oil exploration. Meanwhile, the State Bank of Vietnam and its Cuban partner signed an agreement on information exchange for inspection of credit organisations. At the function, Cuban Minister of Foreign Trade and Investment Rodrigo Malmierca Diaz informed that Cuba has approved a new policy in favour of foreign investors. He noted the agreement between the two state banks reflects Vietnam’s assistance toward its business community operating in Cuba, adding that Cuba welcomes further Vietnamese support in rice and aquaculture production. As room for pharmaceuticals and biotechnological ties remain extensive, both sides should address tax barriers and establish a joint committee in charge of their joint work, he proposed. The session will last until November 19, with a workshop to promote business opportunities in Cuba to be held in Ho Chi Minh City on November 20.-VNA