2018-11-22 CORIM-CCICC Conference – Montréal – Cuba-Québec: working together for strong business and commercial relations

We saw an increase of more than 20% in trade between our two countries last year and yet another 20% this year.

Rodrigo Malmierca

Summary of the conference (initially published by CORIM) :

Minister Malmierca presented the update of the Cuban economic model, which involves a series of constitutional reforms and a diversification of economic relations.

Malmierca said the economic reforms are intended to open up Cuban companies more internationally and to give more space to the private sector in the internal market. He emphasized that the government is listening to entrepreneurs to create a new environment conducive to private initiatives and foreign investment. The minister also recalled that Cuba is already doing business with more than 75 countries, but it could do better. To this end, it has set a goal of attracting more than $ 2 billion in foreign capital each year to carry out several infrastructure and transportation projects. He spoke in particular of the special development zone of Mariel Port, which is a special area for foreign companies of nearly 465 km2 within 50 km of Havana, and Cuba’s intention to use 25 % of renewable energies by 2030.

In conclusion, Minister Malmierca emphasized the close ties between our two countries, which are exemplified by 20% growth in our trade over the past two years. He urged businesses to take advantage of the regime’s changing mindset and said it will pay particular attention to Canadian companies in their investment attraction efforts.

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