Business promotion office with Cuba is inaugurated in Hyderabad. The Cuba Bureau at the Latin American and Caribbean office of the Indian Economic and Trade Organization (IETO) was inaugurated on March 18 in the city of Hyderabad. In a ceremony in which the ambassador of the Republic of Cuba in India, Alejandro Simancas Marin, and the president of IETO, Asif Iqbal, participated, this center was formally constituted, which will have as its objective the promotion of commercial and economic relations between both countries. Murthy Devarabhotla, Commercial Commissioner of the Bureau of Cuba, welcomed the new headquarters of the institution and, together with his work group, explained the purpose of exploring and identifying business, trade and investment opportunities between Cuban and Indian companies.
He highlighted the strong potential of Hyderabad, the capital of the Indian state of Telangana, which is one of the main industrial and high-tech centers in the country. He also announced the preparation of a business delegation to Havana at the end of April. For his part, the Cuban ambassador praised the efforts made by IETO to make the creation of this office a reality, which will be a strong bastion and reference in the development of bilateral relations, and especially in the traditional friendship between both peoples. Subsequently, and within the framework of the Cuba India business event organized by IETO, Murthy Devarabhotla signed three memorandums of understanding with different Indian institutions for the promotion of the commercialization of Cuban rum and for the development of tourism and cultural relations through the realization of a Tollywood film production in Cuba, as the Telangana film industry is known.
With these actions, it is expected that bilateral commercial and economic ties will gain a new impetus in correspondence with the potential and interests of both countries.