Ganesh Kumar Gupta, President, FIEO said that the business delegation of FIEO, led by the Honb’le Commerce and Industry Minister Suresh Prabhu, had wide ranging discussions with their counterpart companies in Cuba and Panama to open vistas of opportunities not only in the two nations but in the entire LAC and Caribbean countries. To supplement this initiative FIEO signed MOUs with Cuba Chamber of Commerce; George Town Chamber of Commerce, Guyana and Barbados Chamber of Commerce.

Suresh Prabhu, speaking on the occasion said that while it is old saying that marriages (which is a contract) are made in heaven, I would say marriages are made in Havana, which is also heaven, as can be seen from MOUs signed by FIEO opening new areas of cooperation between India and Caribbean countries.

Ajay Sahai, DG & CEO, FIEO said that India’s exports to Cuba and Panama are on decline from last two years and India’s share both in Cuba’s and Panama’s imports is 0.6 per cent only. India needs to re-look at its exports profile so as to diversify it with import profile of these nations and possibly of the LAC.