Business colloquium at the Madrid Chamber of Commerce
Following the current situation in Cuba and the Cuban government's proposal for a series of changes in its economic policy aimed at boosting the economy, the Madrid Chamber of Commerce organized a meeting today with the Cuban ambassador to Spain, Mr. Eugenio Martínez Enríquez.
With 12 million inhabitants, Cuba is the largest market in the Antilles. Spain is the island's third-largest trading partner, with more than 200 Spanish companies operating there and annual trade of around €1.000 billion. In terms of investment, it ranks first in a wide range of sectors, including tourism, financial services, and water supply, among others.
Regarding Europe, a negotiation process began in April 2014 to achieve a bilateral cooperation and political dialogue agreement. Three rounds of exchanges have been held to date within the framework of this agreement, which will contribute to improving the outlook for the Cuban economy. Furthermore, the US government publicly announced a change in US policy toward Cuba in late 2014, which could lead to a reestablishment of diplomatic relations between the two countries. All of this is coupled with a forecast of 4% GDP growth, based primarily on a 28% increase in investment.
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