Business news

MINSK, 19 October (BelTA) – Belarus and Cuba are negotiating a new credit line for Cuba on the acquisition of Belarusian goods, outgoing Cuban Ambassador to Belarus Gerardo Suarez Alvarez told the media on 19 October, BelTA has learned.

According to the diplomat, one of the forms of bilateral cooperation is the provision of loans to finance the acquisition of goods and services from Belarusian residents. “The first credit line is almost used. We purchased farm machinery with the help of these resources. We are currently in talks on the second credit line,” he said.

Gerardo Suarez Alvarez stated that an agreement on mutual supplies was signed in 2014. Under the agreement, Belarus gets Cuban pharmaceutical products and sells its equipment and spare parts to Cuba.

According to the diplomat, the Belarusian-Cuban trade has doubled and stabilized in the recent years. The two countries, however, still have a huge potential for further cooperation.