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Businesses to sell rice to Cuba
The Ministry of Industry and Trade (MoIT) will work with the Northern Food Corproation (VinaFood 1) to increase rice exports to Cuba to alleviate a food shortage there, says Deputy Minister Ho Thi Kim Thoa.
Cuba is one of Vietnam's rice importers with a volume of around 400,000 tonnnes per year, Ms Thoa says, adding that VinaFood 1 will become a primary export agent to this market.
According to Vietnam's trade office in Cuba, the Latin American nation has around 6.6 million hectares of arable land but only 2.9 million hectares under cultivation. Especially, since the beginning of the year, climate change and droughts have seriously affected food security in Cuba. Currently, the government of Cuba has a plan to repay loans from Vietnam and hopes the MoIT will direct agents like VinaFood 1 to continue exporting rice to Cuba.
According to MoIT statistics, trade between Vietnam and Cuba is growing rapidly. Vietnam's main export items to Cuba are rice, coal, electronics, and home appliances while its major import item is pharmaceuticals.
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