The Japanese government announced plans on Saturday to increase cooperation and strengthen bilateral ties with Cuba, Xinhua reported.
The announcement came as the Japanese Foreign Minister Fumio Kishada concluded his official visit to the Caribbean island.
"With the aim of supporting Cuban strength by reforms, we want to begin a new large-scale Japanese cooperation scheme called Non-reimbursable Financial Assistance," said Kishida at a meeting with his Cuban counterpart Bruno Rodriguez.
"We would like to consolidate our economic relations," added the Japanese minister, who was accompanied by a delegation of 30 business leaders from his country.
In turn, Rodriguez said that for Cuba "the relationship with Japan is a priority," and that Cuba is "willing to strengthen bilateral ties in all fields, including commerce, investment, scientific cooperation and multi-faceted cooperation."
"There is a real potential for development and I am convinced that his visit will be a deciding factor to strengthening relations," added the Cuban minister.
According to Ken Okaniwa, a spokesperson for the Japanese minister, annual trade between the two countries stood at merely 35 million U.S. dollars, with Japanese exports to Cuba accounting for two thirds.