Indian companies to participate in Havana Fair – FIHAV2022 | The Financial Express

Indian companies to participate in Havana Fair – FIHAV2022

The delegation of the Indian companies is being led by the Indian Economic Trade Organization (IETO) to Havana from December 14-18.

Indian companies to participate in Havana Fair – FIHAV2022
This fair is taking place after a gap of two years due to the global lockdown during the Covid-19 pandemic.

Indian companies from different sectors including consumer goods, pharmaceuticals, medical devices, as well as Electric Vehicles will be participating in the Havana Fair FIHAV2022.

The delegation of the Indian companies is being led by the Indian Economic Trade Organization (IETO) to Havana from November 14-18. This fair is taking place after a gap of two years due to the global lockdown during the Covid-19 pandemic. 

Confirming this to Financial Express Online, the president of the Indian Economic Trade Organisation (IETO) Dr Asif Iqbal said: “The fair in Havana will come close on the heels of the G20 Summit in Indonesia in November. And when our delegation reaches the fair it will give an opportunity to showcase India’s leadership at a time when it takes over the presidency of the G20 next month.”

The G20 conference will focus on various subjects including post-pandemic economic recovery, renewable energy, climate change, innovation and technology, the evolving global security scenario and India-Latin American relations.

Also Read: India, Cuba to deepen economic ties; Havana Club 7 Years rum arriving soon!

India and Cuba

Sharing his views on Indian companies participating in the fair, the Ambassador of Cuba in India Alejandro Simancas Marin said: “This will provide an opportunity to both sides to also review the progress of such bilateral relations and to also identify ways to further expand our multifaceted cooperation.”

There has been a lot of interest from Indian companies from Delhi, Bengaluru, and Hyderabad, to participate in this fair. “We have invited them to be a special partner in the Fair this year, The embassy is ready to provide any support to the IETO in this regard” said Ambassador Marin.

According to Dr Asif Iqbal “This fair will give the Indian delegation an opportunity to showcase their products and expertise to not only Cuban counterparts but also to the other delegations from the region that will be there.”

“This will be a good opportunity for the Indian companies to engage with global counterparts at the India Leadership dialogue. This dialogue will be taking place on the sidelines of the fair where there different speakers from across the globe,” he added.

 MoU with Cuba Chamber of Commerce

In August an IETO delegation visited Cuba and signed MOUs with the Cuba Chamber of Commerce. This was to initiate the India Bureau to facilitate India- Cuba relationships with companies having B2B meetings. After successful engagements between the Indian and Cuban leaders, this will be the third visit of the IETO members.

According to reports there was a delegation level visit from the Central bank of Cuba along with a few banking heads to Mumbai. And they had successful meetings with the officials of Reserve Bank of India as well as the Finance Ministry and the focus of talks was strengthening the bilateral relations as well to ease procedures for Rupee-Peso trade mechanisms. 

Also Read: Cuba has the right to live without a blockade says top diplomat

Discussions with other countries at the Havana Fair

 “We are in discussion with the NRI participants from the UAE as they will participate in the Havana fair and will be led by the Deputy Minister from the UAE. In this fair we see a lot of coordination from the NRIs in the USA and Canada in this fair,” said Dr Iqbal.

At the event the special “India Cuba” edition of the present business relations will be launched.

Importance of Cuba visit

During its previous visit to the Caribbean island nation there were discussions related to opening up possibilities for the Indian students studying medicine in the universities as the country has expert knowledge in the domain of medical care.

 If this fructifies, it will open up a new destination for Indian students who have returned from Ukraine and are keenly looking for alternative arrangements for continuing their education. And “Cuba is an excellent location,” he said.

In September there was a delegation led by David Curbelo from Biocuba pharma and this witnessed many engagements deepening on the side of the pharma sector in Hyderabad.

 After having several successful meetings with the Health Regulators in Delhi as well as leading Pharma companies, David Curbelo from Biocuba said: “There is a continuous flow of business from Cuban pharma companies importing raw material and APIs from Indian pharma companies and we would like to make this deeper to enable mechanisms for trade and banking transactions need to be smoother.”

Next week the Deputy minister of Communication of that country is expected to visit New Delhi and the focus of talks will be related to more engagements in the telecom sector collaboration.

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