The Bahamas and Cuba Monday signed a delimitation of maritime boundaries agreement, following negotiations that had been going on since 1998.
The agreement calls for waters between The Bahamas and Cuba to be clearly marked and defined.
Over the weekend, Bahamas Minister of Foreign Affairs Brent Symonette, speaking at a farewell function for outgoing Cuban Ambassador, José Luis Ponce Caraballo said the two countries share a long history of relations that predates the formal establishment of diplomatic ties in November 1974.
"Our bilateral relations continue to deepen as we continue to examine proposals in other areas of mutually beneficial technical cooperation," he said.
"Historical forces such as trade, labour and geography forever intertwine us. It is our hope that mutual respect and a desire to witness the prosperity of our peoples continue to underpin these ties."
Symonette credited Ponce for the progress made on finalising the maritime boundary delimitations.
Important agreement
"This is an important agreement, given our geographic interconnectedness and relative economic dependence on the sustainable use of our natural world," he said.
"We commend Cuba for the high level of commitment, compromise, preparedness and openness that was evidenced during the negotiation process."
The Bahamas and Cuba are partners bilaterally and through CARICOM in several areas of functional cooperation, including sustainable development, education, and health.
"During your tenure, you promoted further collaboration in these areas and urged the exploration of new areas of cooperation, which could prove mutually beneficial to our two countries," Symonette said in praise of Ponce.
The two countries in March 2009 signed a 'Basic Framework Agreement on Economic and Technical Cooperation', relating to future projects and programmes between both countries.