New Delhi, March 21 (IANS): India said on Friday that it is hoping for improved economic ties with Cuba in the wake of the US deciding to establish diplomatic ties with the Caribbean country whose Vice President Miguel Diaz-Canel is coming here March 23-25.

Diaz-Canel is on his maiden visit to India, during which he would meet Vice President Hamid Ansari, and also call on President Pranab Mukherjee and Prime Minister Narendra Modi.

It would be the first high level contact between Cuba and the Modi government.

With the Barack Obama administration working on establishing diplomatic ties with the Communist nation after more than 50 years, the move is expected to help "enhance" India's economic ties with Cuba as well, said external affairs ministry spokesperson Syed Akbaruddin here Friday.

"One of the barriers that we have faced in terms of economic interactions with Cuba - apart from distance, is issues relating to foreign exchange and availability of foreign currency for trading purposes. Anything that helps in that is going to enhance trade," he said.

"Any change will certainly enhance. We hope to have improved economic ties with Cuba," he added.

The US slapped economic sanctions on Cuba in 1962, which have been eased in some sectors.

During the visit of the Cuban vice president, both sides are expected to ink agreements of a consular nature and in healthcare and biotechnology, he added.

Cuba gets 50 to 55 Indian Technical Economic Cooperation (ITEC) seats every year. The Indian boxing team as well as Indian sports institutions utilize the services of Cuban coaches in volleyball, in diving, as well as in athletics, said the spokesperson.