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FIHAV 2014: An ideal opportunity to
strengthen commercial ties with Cuba
Livia Rodríguez Delis & Lorena Sánchez García
Given the important role of foreign capital in the
socio-economic development of Cuba, the 32nd Havana
International Trade Fair (FIHAV 2014) has become the
ideal place to promote the country’s principal
projects open to international investors.
The Caribbean’s largest trade fair is taking place
the first week of November, in Havana, with the
participation of more than 1,000 businesspeople from
60 countries, attracted by the diverse new
opportunities offered, in all sectors of the
economy, including those planned for the Mariel
Special Development Zone (ZEDM).
During the fair’s inauguration, Minister of Foreign
Trade and Investment Rodrigo Malmierca Díaz
described opportunities opening up in Cuba, enhanced
by the new facilities available at the port of
Mariel and the country’s Foreign Investment Law
no.118, approved earlier this year.
In addition to inviting visiting businesspeople to
use the opportunity to identify possible business
projects of benefit to both Cuba and their
companies, Malmierca encouraged Cuban enterprises to
take advantage of the Fair to seek investors and
promote trade.
The minister also referred to U.S. harassment of
banking institutions which have relations with Cuba,
enforcing the unilaterally imposed blockade
extraterritorially – a hostile policy overwhelmingly
rejected by the international community in the
United Nations General Assembly.
“This conduct contrasts sharply with the decision
made recently by the Financial Action Task Force (FATF)
to remove Cuba from its list of countries being
monitored, in recognition of its efforts to prevent
criminal money laundering and the financing of
terrorist groups,” he said.
Malmierca reiterated Cuba’s willingness to conduct a
respectful dialogue with the United States based on
sovereign equality, despite differences, and
maintain cooperation on issues of shared concern
such as Ebola.
The minister stated that despite the negative impact
of the blockade, and an unstable economic situation
internationally, Cuba continues to honor its
obligations, recuperating the financial credibility
of its economy, adding that the country’s growth
rate - 2.7% in 2013 - has been maintained at a
modest level.
“As has been reported, figures from the first part
of the year show a modest increase in performance,
which, while indicating a decline with respect to
last year, is a positive reflection of this more
recent period.”
He emphasized the broad representation of member
countries of the Community of Latin American and
Caribbean States, with a significant number of
delegations attending, while congratulating the
country’s principal trading partners - Venezuela,
China, Russia and Spain - for their extensive
participation.
On a day specially dedicated to Russia, Malmierca
commented that President Vladimir Putin’s recent
visit to the island, and related high level
discussions, have had a positive impact on economic
ties between the two countries.
With the President of Tartarstan Rustam
Nurgaliyevich Minnikhanov on hand, Malmierca
emphasized the potential opportunities available to
Russian enterprises, given the opening of the Mariel
Special Development Zone and the country’s new
foreign investment law.
The visiting President highlighted his country’s
broad representation in FIHAV 2014, clear evidence
of the interest Tartarstian businesses have in
Cuba’s portfolio of investment projects.
Bolivia’s delegation included 20 companies, and
occupied a large area of 170 square meters, a higher
level of participation as compared to previous
Fairs.
During the inauguration of Bolivia’s exhibit, with
the country’s ambassador in Cuba Palmiro Soria in
attendance, Ileana Nuñez, deputy minister of Foreign
Trade and Investment noted the increase and
diversification of Bolivia’s participation,
reflecting the strengthening of economic relations
between the two countries, a goal established in
2013 with Bolivian Minister Teresa Morales.
Ileana Nuñez explained that despite the global
economic crisis and the U.S. blockade, Cuba is
undertaking a process of updating its economic
model, including work by the Ministry of Foreign
Trade and Investment, and other institutions, to
improve the country’s balance of trade, recuperate
its productive capacity and improve efficiency, via
the promotion and diversification of exports, the
replacement of imports with domestic products,
international cooperation and restructuring of
industry, while at the same time protecting social
justice and equality.
Cuba is China’s most important trading partner in
the Caribbean, said Wang Jinzhen, vice president of
China’s international trade council, during China’s
National Day at the Fair, reporting that the volume
of trade between the two countries now has a value
of some 1.8 billion dollars. He commented that since
Chinese President Xi Jinping’s visit to Cuba,
relations have reached a new stage.
“Since we have been participating in FIHAV, we
continue to note an increased representation of our
companies with quality products, demonstrating that
our businesspeople are very much interested in the
Cuban market.”
Zhang Tuo, China’s ambassador in Cuba, commented
that the two countries are in a good position to
increase trade, saying, “With the new foreign
investment law, you have readied the terrain, while
we are attempting to make our enterprises
transnational. Thus China has today become, for the
first time, a net investor.”
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