Cuba and Saudi Arabia expand commercial bonds

HAVANA, Cuba (ACN) — Cuba and Saudi Arabia ratified their intention to increase commercial relations by way of the signing of a bilateral agreement to contribute to the restoration of water mains in Havana.

The agreement between the Ministry for Foreign Trade and Investment and the Saudi Development Fund includes the granting of $30 million to the island to support the restoration of drinking water supply mains.

The signing of the document took place on Monday on the occasion of the visit to the Caribbean island of Ibrahim Abdulaziz Al-Assaf, minister of finances and prices and president of the Fund’s board of directors, who during the meeting confirmed his interest in expanding bilateral nods to other sectors.

He asserted that actions of financial support to boost exports from the Kingdom to Cuba are currently analyzed, as well as the possibility to increase Cuban medical services in his country.

During his stay in the Cuban capital, the Saudi minister was due to carry out a program of activities and meetings with top officials and local authorities.