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

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.

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