Spain remains Cuba’s largest European source of foreign direct investment

HAVANA, Cuba, Thursday, September 27, 2012 – Business people from Cuba and Spain are meeting in Havana today to assess new business projects that could increase investment flows between the two Spanish-speaking nations.

Official sources report that, in 2011, Spain was among the main trading partners of Cuba, after Venezuela and China.

Madrid officials have established Spain as the first European investor in Cuba, with more than US $1.5 billion dollars received annually and indications that number could grow in the near future.

Despite the current economic and social turmoil in Spain, organisers of the 18th Business Cooperation Committee between the two countries remain optimistic that entrepreneurs from Cuba and Spain will find new mutual business opportunities for 2012-2013.

According to the program for the day, representatives of both delegations will give lectures about the updating of the Cuban economic model and the prospects for the Spanish economy in the current crisis.

José Antonio Vicente, director of the Zaragoza Fair, will provide details of the Biotechnology Fair to be held in Spain from October 9th through the 11th this year and explain the sector priorities for the Iberian nation.

In the 17th Committee, held in March 2010 in Havana, participants evaluated investment projects, export of services and strategic alliances in areas such as information technology and communications, iron and steel industry and the joint development of vaccines.  Click here to receive free news bulletins via email from Caribbean360. (View sample)