Havana (VNA) - Vietnamese and Cuban business people met at the first session of the Cuba-Viet Nam Business Council (CVBC) in Havana on Tuesday to seek opportunities for bilateral cooperation, investment and trade as well as work out an action plan for 2005.

Cuban Deputy Trade Minister Pedro Luis Padron attended the session.

Addressing the meeting,  Vice Chairman of the Cuban Electronics Group Jose A. Gonzalez Fernandez, who is also Chairman of Cuban section of the CVBC, spoke of the session's importance in exchanging information and seeking opportunities to lift the economic, commercial and investment cooperation to the level of political and friendly relations. He said Cuban and Vietnamese businesses should boost cooperation in biotechnology, pharmaceuticals, construction, light industry, electronics, fisheries and tourism.

Chairman of the Vietnamese section of the Council to the session Bui Quang Do introduced the investment environment in Viet Nam and domains in which the two countries can cooperate with each other.

Reviewing economic and commercial cooperation between the two countries in recent years, Ambassador to Cuba Pham Tien Tu praised Cuba's assistance to Viet Nam in building the Ho Chi Minh highway. Viet Nam exports 400,000 tonnes of rice to Cuba every year, he said, adding that two-way trade increased from 60 million USD in 2002 to 90 million USD in 2003 and is expected to reach 100 million USD this year.

The Vietnamese Ambassador called upon the two countries' businesses to increase meetings and boost bilateral cooperation.

While in Cuba, the Vietnamese delegation held working sessions with the Cabinet Minister, Ricardo Cabrisas, and leaders of the Trade Ministry and the Cuban Electronics Group. They also visited the IT University and some production establishments in Havana.