Putin Seeks to Increase Russian Investment in Latin America

Russian President Vladimir Putin said Thursday he hopes to increase Russian investments in and trade with Latin America.

During a tour in Cuba that will also take him to Argentina and Brazil, the Russian leader said he was focusing on enhancing technological cooperation and investment, especially in the sectors of energy, nuclear power and machinery.

"We are interested in creating technological production and partnership projects with countries in the region to maximize the potential for economic cooperation in critical areas such as oil and gas, hydropower and nuclear power, plane and helicopter construction and infrastructure, as well as biopharmaceutical and information technology," Putin said.

"Latin America is a rich source of natural resources, such as oil and bauxite, fresh water and food."

Putin said that Russian companies were namely interested in investing in Cuba to manufacture reinforced plastic products, car parts and the assembly of heavy equipment for the rail industry.