Cuba presents business opportunities in Panama Summit

NEW DELHI - April 13, 2015 - PRLog -- HAVANA, Cuba, Apr 10 (acn) Cuba will introduce, in the forum parallel to the 7th Summit of the Americas in Panama, its current portfolio of projects aimed at encouraging foreign investment in key sectors to demonstrate how much it is being done for energizing its economic development.

In the 2nd Business Summit of the Americas, which meets from last Wednesday at the Panamanian capital, Rodrigo Malmierca, Cuban Minister of Foreign Trade and Foreign Investment, explained the new opportunities offered by the island in tune with its process of economic update.

Malmierca, the only Cuban confirmed to intervene in that alternative forum, said the portfolio includes 246 projects, valued at 8.7 billion dollars, and are focused to develop 11 sectors of high priority for Cuba, with the participation of foreign capital.

The minister also highlighted the Mariel Special Development Zone, a megaproject destined to become the main gate to trade in Cuba with the world, which main attraction is a port terminal equipped with the latest technologies to store more than 800,000 20-feet containers per year.

These new experiences confirm the interest of Cuba to strengthen and expand its economic relations with various countries, especially those in Latin America and the Caribbean, in spite of the blockade imposed by the US government for more than half a century, said Malmierca to business leaders in the region present at the meeting.

On the policy of the White House, the Cuban minister said that despite the desire shown by many US business groups to establish and increase their links with the Caribbean nation, they are still limited by arbitrary measures such as the ban on Cuba to use the US dollar in its financial transactions abroad.

In that sense, Malmierca also mentioned the inability to export Cuban products to the United States and to use trade credits, and other regulations that hinder transportation, hamper trade and prohibit investment.

Despite these limitations, the island proudly displays today high standards of education, health indicators comparable only with first world countries , significant achievements in gender equality, broad advances in the field of environmental sustainability and the compliance of the Millennium Development Goals, the Cuban official stressed.

In addition, there has been cooperation links with more than 160 developing countries, mainly in education and health.
"These results that highlight Cuba's government commitment with its people and humanity have only been possible thanks to the work of the Revolution," Malmierca stated.

On the relations between Cuba and the United States, the representative of Cuba to the Panamanian forum said that, notwithstanding the statements made by President Barack Obama in favor of a restoration of bilateral ties, the blockade remains in place, and this is the main obstacle for the achievement of a bilateral exchange.

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He reaffirmed that Cuba will continue to promote progress in regional integration and boosting the potentials that are untapped, from more efficient economic schemes in the context of the Community of Latin American and Caribbean Countries and the Bolivarian Alliance for the Peoples of Our America.

After closing, Malmierca and other members of the Cuban delegation to the 2nd Business Summit met behind closed doors with Americans and representatives of the Department of Commerce from that northern country accredited to the appointment.

Source: cubanews.ain.cu/