OREANDA-NEWS. The trade turnover between Russia and Cuba in 2018 increased by 34%, this year it is planned to increase this figure to $ 500 million. This was announced on Friday by Russian Deputy Prime Minister Yuri Borisov, opening a meeting of the RF-Cuba intergovernmental commission on trade, economic and scientific technical cooperation. “Russian-Cuban trade turnover grew by 34% last year. This year we are also seeing its systematic increase. Thus, by the end of 2019, we will strive to reach a level close to $ 500 million”, Borisov said. According to him, the meeting is noteworthy in that it takes place on the eve of the visit to Cuba of the Prime Minister of the Russian Federation Dmitry Medvedev.

Russia and Cuba will develop a joint strategy for trade and economic cooperation. This document is planned to be signed soon. "An agreement was reached on the need to develop a joint strategy for trade and economic cooperation and subsequently formulate a roadmap for implementing its provisions", Borisov said.

He added that the strategy "will be developed by the parties, taking into account the priorities and development of Cuba until 2030, which are reflected in the program of socio-economic development of the Republic of Cuba, and is planned for signing in the near future". According to Borisov, the strategy is a document in which "points of mutual interest in the large-format development of Russian-Cuban trade and economic cooperation" will be defined and fixed.

The implementation of the program of modernization of the fuel and energy complex of Cuba to ensure energy security will reduce oil supplies to this country from outside by a third and save $ 1.8 billion, Borisov added. According to him, during the meeting of the commission, new growth points were also discussed, in particular, the supply of Russian grain to Cuba.