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Cuba and Germany strengthen economic ties

aleman canciller malmiercaCuba is changing and new opportunities to expand and strengthen bilateral relations in the economic sphere, as well as renew ties at a political level, are opening up for Germany, stated Sigmar Gabriel, German deputy foreign minister and minister of Economy and Energy.

During the inauguration of a business forum in Havana attended by entities from both nations, Gabriel highlighted the updating of Cuba’s economic model which includes a Portfolio of Foreign Investment Opportunities. In this sense, the German official expressed his country’s wiliness to launch a process to promote bilateral relations which will develop over the coming years.

In this regard, the deputy foreign minister signed a memorandum of understanding with Cuban Minister of Foreign Trade and Investment, Rodrigo Malmierca, on the opening of a business office in Havana which will help to encourage German business and investment in Cuba.

“We want to improve and put Germany’s political and economic relations with Cuba on a new, solid base.” The German delegation’s visit reflects our interest and the opportunities we perceive in relations between the two countries, he added.

Around 60 German businesses attending the event are affiliated with the biotechnology, agriculture and industry sectors. Also present were global firms such as Volks wagen, Bosch and Siemens, as well as a large representation of small and medium-sized businesses.

During the forum which took place in Cuba’s Hotel Nacional, Rodrigo Malmierca emphasized, “There are many sectors of the economy in which we can collaborate with German companies, whether through trade and investments, or mutually beneficial ventures.”


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