Havana, December 28 (RHC)-- Cuban authorities are currently negotiating more than 40 new foreign investment projects on the island, Cuban Minister for Foreign Trade and Investment Rodrigo Malmierca announced Monday.

Addressing a parliamentary meeting prior to the sixth ordinary session of the 8th legislature of the National Assembly of People's Power, Malmierca added that most projects, involving tourism, agriculture, transportation and the sugar industry, are to materialize in the short-term.

The Cuban minister for foreign trade and investment said diversifying markets is a premise, in line with the country's determination to achieve a prosperous, sustainable socialist economic model.

Addressing the parliamentary commission on foreign relations, Cuban Deputy Foreign Minister Abelardo Moreno announced that the upcoming 4th Summit of the Community of Latin American and Caribbean States (CELAC), set for January in Quito, Ecuador, will seek new formulas and strategies towards reducing inequality.