Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What is the current nature of trade between Cuba and Vietnam?

EconomicsEconomics
0

What is the current nature of trade between Cuba and Vietnam?

0

Cuban-Vietnamese relations are the interstate relations between the Republic of Cuba & the Socialist Republic of Vietnam.While Vietnam decided to introduce a market-oriented economic system as early as 1986,Cuba has continued a highly centralized economy even after the disintegration of the Soviet Union in 1991.Two countries were in diplomatic relations since December 1960. After that, Vietnam has become Cuba’s second-largest trading partner in Asia, with Vietnam trailing behind China.

Vietnam is a political & economic partner of Cuba.Bilateral trade in between two countries consists of rice,textiles,computers,electronics etc.Trade between two countries exceeds $500 million. In October 2012, Marino Murillo expressed hope that Vietnam would support Cuba in further developing agricultural development laying emphasis on the cultivation of food & industrial crops.

In recent years,under the rule of Raul Castro,the communist party of Cuba has tried to renew the Cuban socialist model by introducing private ownership & entrepreneurship.

Thanksgiving questions

*Sadly, we had to bring back ads too. Hopefully more targeted.