Russia and Cuba sign inter-parliamentary cooperation pact

[News_Editor]

Russia and Cuba sign inter-parliamentary cooperation pact

2011-01-01 10:08:20 GMT+7 (ICT)

HAVANA, CUBA (BNO NEWS) -- Russia and Cuba on Thursday signed an inter-parliamentary cooperation pact in order to improve bilateral relations, the Cuban News Agency (ACN) reported on Friday.

The pact was signed by Ricardo Alarcon de Quesada, president of the National Assembly of the People’s Power (ANPP) and the speaker of the State Duma, Boris Grizlov. The document will help to improve trade and economic ties between the two nations.

"This important agreement opens up new possibilities for broader dialogue and wider cooperation between our lawmakers," Gryzlov said. "Russian and Cuban lawmakers must play a more active role in boosting and modernizing trade and economic ties between the two countries."

On the other hand, Alarcon expressed his satisfaction with the agreement and remarked that between Cuba and Russia has existed a long standing relationship based on mutual support and friendship. The ANPP president said that such relation would strengthen with this cooperation pact.

Russia has supported Cuba against the economic, financial and trade blockade imposed by the U.S. In addition, the European country has collaborated in the development of the Caribbean island nation since its revolution, said Alarcon.

Gryzlov added that this marks the first time that Russia has signed an agreement of this kind with a Latin American country. The speaker also highlighted the role that the State Duma has played in the development of the ties with Cuba.

The Russian politician added that the cooperation pact will focus on projects in electric power industry, transportation, pharmaceutics and high-tech industry. The current trade totals $260 million but according to Gryzlov this does not represent the full potential of the bilateral trade.

Russia and Cuba are resuming bilateral relations after they decline after the fall of the Soviet Union. The U.S.S.R. and Cuba had a strong relationship during the Cold War.

-- © BNO News All rights reserved 2011-01-01

[geriatrickid]

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