Cuba, S. Africa to tighten economic ties

HAVANA - Cuba and South Africa on Thursday signed an agreement to push forward economic cooperation, especially in the fields of biotechnology and medicine.

Attending Havana's International Trade Fair (Fihav 2012), which ends on Saturday, Jacob Moatshe, a South African official in charge of export, trade and investment, said the two countries agreed on an economic aid package aimed at expanding each other's market access.

Bilateral cooperation projects include the installation of a biotechnological and medical equipment plant in South Africa, and the creation of joint ventures in Cuba, Moatshe added.

Rob Davies, minister of trade and industry of South Africa, headed a delegation to Havana and held talks with Cuban authorities on furthering bilateral exchanges.

Over 3,000 businessmen from 1,500 foreign companies in 62 countries have attended the Fihav 2012, along with over 100 Cuban companies.