(MENAFN) Cuba's first deputy minister of Foreign Trade and Foreign Investment, Antonio Luis Carricarte, stated that in order to boost the country's economic growth, the ministry plans to expand exports to include technology products and health and tourism services, reported Xinhua News.
He said that the government's strategy is to boost income through exports, and raise savings by replacing imports.
Moreover, Cuba plans to export medicines and products of biotechnology and genetic engineering, adding that the country's 141 biotech products include several vaccines, with their exports generating nearly USD400 million per year.
It is worth noting that Cuba's exports of goods and services in 2011 jumped 20 percent from 2010 to around USD9 billion, of which 70 percent was generated from health care services and tourism.
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