HAVANA, Feb. 6 (Xinhua) -- Cuba and the Eurasian Economic Commission (EEC) on Wednesday tapped into bilateral cooperation potential as the first session of the Joint Commission for Collaboration between the two sides started here.

While meeting representatives of the EEC, Cuban Minister of Foreign Trade and Investment Rodrigo Malmierca, called for the creation of solid foundations to develop partnerships for mutual economic benefit.

Malmierca stressed the importance of foreign investment for Cuba's economy, saying Russia's contribution to the development of the island country was "a positive reference for cooperation with the rest of the member states of the Eurasian bloc."

Tatiana Valovaya, EEC minister of integration and macroeconomics, highlighted the potential for cooperation in biotechnology, pharmaceutics, the chemicals industry, oil and mining.

Valovaya also recognized the need to boost exchanges in the financial sphere.

The session will conclude on Thursday, following the signing of the EEC-Cuba action plan for cooperation in 2019.

Cuba and the EEC signed a memorandum of understanding in May 2018 to foster economic ties, and expand and diversify bilateral trade.