Cuba, Vietnam cooperate in drug manufacturing
(VOV) - Vietnamese and Cuban officials discussed the possibility of strengthening drug manufacturing cooperation between the two countries at a workshop in Hanoi on March 27.
Doan Duy Khuong, Vice President of the Vietnam Chamber of Commerce and Industry (VCCI), noted that although Vietnam and Cuba established diplomatic relations more than 50 years ago, their trade and investment ties have yet to match the potential.
Last year’s two-way trade reached merely US$475 million, mostly from Vietnamese exports such as rice, chemicals, plastics, coal and garments.
Meanwhile, Cuban exports to Vietnam remained modest at US$6 million, half of which came from pharmaceutical exports. Its cancer, meningitis, and hepatitis B drugs have been widely used in Vietnam.
Cuba has invested US$6 million in a project in Vietnam, ranking 68th among foreign investors in the country. Vietnam has so far carried out two oil and gas projects in this Caribbean nation.
Cuban ambassador to Vietnam Fredesman Turro Gonzlez said that Cuba’s pharmaceutical industry has developed constantly over the years. It has invented a number of drugs that cannot be found anywhere else in the world. Many of the products are available in Vietnam.
He said the two countries are implementing joint projects to manufacture several pharmaceutical products in Vietnam in the form of technology transfer or other forms in agreement.
The diplomat expressed his belief that medicine manufacturing will be one of the most prospective areas for cooperation in bilateral economic and trade ties in the near future.
Khuong said VCCI will work closely with the Cuban Embassy, the Cuban Trade Office in Vietnam, Cuban trade promotion agencies and Cuban business communities to promote trade ties.