Investment Oportunities in Tourism

Transcription

1 OFFICIAL PUBLICATION OF THE CHAMBER OF COMMERCE OF THE REPUBLIC OF CUBA Investment Oportunities in Tourism The Blockade persists

2 CHAMBER OF COMMERCE OF THE REPUBLIC OF CUBA The Chamber is an institution that groups Cuban enterprises from all sectors as its members, with the purpose of supporting their work and promoting, both nationally and internationally, the export goods and services, as well as the business and investment opportunities for the benefit of the national economy. YOUR ENTERPRISE IS OUR MISSION LEGAL SERVICES - Advisory. - International commercial arbitration. - GSI Cuba Bureau. - Functions delegated by the State:. Issue of certificates of origin, force majeure and others.. Administration of the registries of associated enterprises, importers, exporters and branch offices, and agents of foreign mercantile companies. PROMOTIONAL ACTIONS Organization of business missions, business meetings, bilateral committees, cooperation agreements and others. COMMERCIAL INFORMATION Trade Point, Trade Information Bureau, Cuba Foreign Trade magazine, directories and other specialized publications. TRAINING ACTION Conferences, seminars and courses. NATIONAL AND INTERNATIONAL FAIRS AND EXHIBITIONS COMPUTERIZED SERVICES Institutional web site and digital certifications. Calle 21, no. 661, esq. a calle A, El Vedado, La Habana, Cuba. Tel.: (53) / cch@camara.com.cu Web site: THE CHAMBER OF COMMERCE MAGAZINE Cuba Foreign Trade (CFT), official publication of thechamber of Commerce of the Republic of Cuba, was created with the purpose of disseminating and promoting the interests of the Cuban enterprises, members of the Chamber, for the benefit of the national economy. PROFILE - Promotion of export products and services. - Foreign investment. - Substitution of imports. - Business opportunities. - Useful information on how to do business in Cuba. - Presentation of economic and commercial enterprises and institutions. - Economic information on Cuba. - International information. - Legal regulations on trade and investment. - Other topics of interest to the business world. CHARACTERISTICS - Bilingual (Spanish / English). - Quarterly issues. - Seventy-two pages, four colours format 21 x 27,5 cm. - Collaborations by outstanding personalities and experts. - Digital version through the Chamber of Commerce website ( ADDRESSES - Cuban authorities. - Member enterprises in Cuba. - Cuban Embassies and Commercial Offices. - Institutions and personalities from the business world, in Cuba and abroad. Editorial Office: Address: Calle 21, no. 661, esq. a calle A, El Vedado, La Habana, Cuba. Telephones: (53) / / / , ext.: 215 s: cft@camara.com.cu publicaciones@camara.com.cu anuncio@camara.com.cu Advertisings tel.: (53) Subscriptions tel.: (53)

3 MESSAGE FROM THE PRESIDENT With this issue of the magazine Cuba Foreign Trade, a new work period begins in our official publication, by having in our institution a modern digital printing machine, which will guarantee the timely output of each of its editions and be in better conditions for fulfilling, for the benefit of our associated entities, the responsibilities assigned to us in relation to the promotion of goods and services exports and the opportunities to conduct business in our country through the various foreign investment modalities. The possibility of having this new equipment has made it necessary to initiate a process of changes in the design and content of our magazine, which can be seen already in this issue. In order to contribute to the promotion of business opportunities with foreign investment, the Portfolio of Opportunities in the tourism sector appears in this issue, due to its increasing importance in our economy, the priority given to it in terms of business establishment with foreign capital and the satisfactory results achieved during the current year, which has already surpassed the figure of three million visitors and must conclude with a new record in this sense, which reinforces the positioning of Cuba destination in the world tourist scene and translates into greater contributions from that branch to Cuban economic development. We also address the persistence of the economic, commercial and financial blockade that the United States decreed against Cuba more than 54 years ago, whose restrictions and sanctions remain - also for the rest of the world that negotiates with the Island- on the grounds that executive measures which has been adopted by President Barack Obama since December 17, 2014, are limited and insufficient. We update you on the ample and intensive bilateral negotiations process conducted by our government in recent months as part of the implementation of the Multilateral Agreement of December 2015 with the Cuba s Creditors Ad-Hoc Group in the Paris Club, which means creating a space favorable to the restoration of the international credibility of the Cuban economy and therefore, propitiates investments, trade and possible access to new credits. We could not miss our modest homage to the 30 years of the Center for Genetic Engineering and Biotechnology (CIGB) belonging to the Business Group BioCubaFarma, which on reaching this anniversary exhibits a commendable work in the transcendental sphere of science, and therefore of Cuban economy and trade. Orlando Hernández Guillén OFFICIAL PUBLICATION OF THE CHAMBER OF COMMERCE OF THE REPUBLIC OF CUBA. No. 3/2016 DIRECTOR Ramón I. Ripoll Díaz EDITOR Maggie Marín Díaz EDITION ASSISTANT Lucila Marlene Domínguez Garcés TRANSLATOR Ana E. Valdés Portela ART-DESIGN Yoaima Rodríguez Marín COVER Yoaima Rodríguez Marín PROOFREADER Maritza Lam Tajes ADVERTISING Lucila Marlene Domínguez Garcés DISTRIBUTION Lucila Marlene Domínguez Garcés PHOTOGRAPHY PRINTER Cámara de Comercio de la República de Cuba Editorial Office Calle 21 no. 661 esq. a A, El Vedado, La Habana, Cuba. Phone: (53) anuncio@camara.com.cu Web site: Chamber of Commerce of the Republic of Cuba World Trade Center Havana Member of the International Chamber of Commerce Articles and graphic materials may be totally or partially reprinted provided the source is credited.

4 CHAMBER OF COMMERCE OF THE REPUBLIC OF CUBA EXECUTIVE BOARD PRESIDENT Orlando Hernández Guillén VICEPRESIDENT Odalys Seijo García GENERAL SECRETARY Omar de J. Fernández Jiménez BOARD OF DIRECTORS INTERNATIONAL RELATIONS DEPARTMENT Celia M. Labora Rodríguez FAIRS AND EXHIBITIONS DEPARTMENT Miriam Martínez Delgado LEGAL AFFAIRS DEPARTMENT Natacha Gumá García ASSOCIATES DEPARTMENT Milena Pérez Cepero INFORMATION AND PUBLICATIONS DEPARTMENT Ramón I. Ripoll Díaz INFORMATICS DEPARTMENT Sandra Hernández de la Torre ACCOUNTING AND FINANCES DEPARTMENT Fernando Pérez Sánchez HUMAN CAPITAL AND CADRES DEPARTMENT Yamilsy Figueredo Grille ADMINISTRATIVE SERVICES DEPARTMENT Alberto López Rodríguez CONTENTS SPECIAL ARTICLES 5 Investment Portfolio in the Tourism Sector 16 Blockade. The unilateral sanctions system more unjust, severe and prolonged decreed against any country 20 Reached bilateral agreements to restructure debts EVENTS 24 Chinese premier s visit reinforced the excellent relations between Beijing and Havana 26 Stimulated trade and investment by Japanese Prime Minister visit 28 Cuba and Quebec strengthen economic ties 31 Signed memorandum of understanding with Iran 32 President of our Chamber of Commerce visits Germany 33 Signed important agreements with Saudi Arabia 34 Vietnam promotes trade ties and fosters several investment projects 36 Signed with Colombia trade deepening agreement 36 Cuban Trade Arbitration praised at international conference CURRENT BUSINESS SITUATION 37 CIGB 30th anniversary 38 Cubaindustria 2016 to encourage industrial development and foreign investment 40 Agreements with France on José Martí Airport and civil aviation 41 First International Food Fair 42 Summit on energy and infrastructure in Cuba 43 Business Committee strengthens economic ties with Italy until Trade mission visiting Guatemala and Costa Rica THE CHAMBER TODAY 45 - Businesses identify in entreprenurial forum with Bahamas - Chamber of Commerce signs agreement with its counterpart in Curacao - Dominican mission explores business opportunities - South Africa business forum - Strengthened trade relations with Venezuela

5 Special Articles INVESTMENT PORTFOLIO IN THE TOURISM SECTOR 5 Cuba FOREIGN TRADE No. 3/2016

6 Special Articles INVESTMENT PORTFOLIO IN THE TOURISM SECTOR The tourism industry in Cuba, following the adoption of the new Law on Foreign Investment, has decided to increase foreign investment capital to create and stimulate new hotel and extra hotel products as a way to boost the national economy. In order to achieve this purpose, the Business Opportunities for Foreign Investment of the Ministry of Tourism have been presented, which includes projects for hotel construction, hotel management modality - with or without external financing - and the management of marinas, which by its importance we present to our readers. Its content includes an overview of the country, the basic sectorial information and further business opportunities with foreign investment for tourist destinations. 1 - CHARACTERIZATION OF THE CUBAN TOURIST PRODUCT The attractions that distinguish the Cuban tourist product ensure that the activity in this sector is profitable and able to meet the highest demands the various source markets and multiple segments. Among the most notable features of Destiny Cuba are its natural, historical, cultural and heritage resources. Cuba has ten locations categorized by UNESCO as World Heritage, 257 National monuments and 332 museums. The Cuban archipelago is made up of the island of Cuba, the Isla de la Juventud, and more than 4,000 small islands and islets, grouped into four distinct island groups: Los Colorados, the Sabana-Camagüey originally named Jardines del Rey, Los Canarreos and Jardines de la Reina. The Republic of Cuba is integrated, politically and administratively, by 15 provinces, located from western to eastern region in the following order: Pinar del Río, Artemisa, Havana, Mayabeque, Matanzas, Cienfuegos, Villa Clara, Sancti Spíritus, Ciego de Avila, Camagüey, Las Tunas, Holguin, Granma, Santiago de Cuba and Guantánamo. South of the western part is the special municipality Isle of Youth. Cuba is located at the edges of the torrid zone of the planet where the trade winds predominate. Insularity and narrowness of its territory constantly let you enjoy a warm and pleasant climate. The sea breeze and land breeze ensure that no excessive heat or cold occur. 2 - MAIN ATTRACTIONS OF THE CUBAN TOURIST PRODUCT Natural advantages: Climate The mild climate makes it possible to exploit tourism resources throughout the year. The seas surrounding Cuba are warm, clean and transparent. Its waters maintain an annual average temperature between 23 and 30 degrees Celsius (73 and 86 F). The oscillations of the tides and the modest height of the waves allow the practice of nautical activities throughout the year, mainly on the south coast where the sea is much quiet. The climate is moderate tropical, it is nice, the annual average summer temperature is 25.2 degrees Celsius (77 F) and in winter 22.1 degrees Celsius (71.6 F). Cold fronts are short, and the days usually clear. Beaches In the archipelago there are over 400 beaches, including 241 on the north coast and 172 on the south coast, about 500 kilometers of sandy shoreline. Cuban beaches are of high quality: nice for its fine and soft sand; quiet, safe and with extraordinary transparency waters; some protected by coral reefs and seabed conducive to practice underwater sports. The quality they have in common is that all are favorable for active relaxation. Navigation Recognized as the Gulf Key, Cuba is, by its geographical position, point of meetings, of scale; port of arrival and departure, not only for the countries of the Caribbean Basin, but also for the world. Our island status 5,746 littoral kilometers bordering the Caribbean on the south and the Atlantic on the north and an island platform rich in biodiversity and beauty, gives us a natural gift that attracts professionals and followers of sailing and diving. The coastal setting of the Cuban archipelago and infrastructure in some parts of the island allow the safe shelter of small, medium and great fretwork t pleasure yachts, so there are broad prospects for development of this boating activity. Diving The insular platform of Cuba, reaching an extension of 70,000 square kilometers, has approximately 850 kilometers of coral reef. The most important, Sabana Camagüey is located in the northern center of the country and has a length of 450 kilometers, which is considered among the largest in the world. The four archipelagos surrounding Cuba: Los Colorados, Sabana-Camagüey, Jardines de la Reina and Los Canarreos offer exceptional conditions for the enjoyment of seabed. The diving in its multiple manifestations: contemplative, cave diving, video and photos in multiple attractive diving sites: lush coral gardens, caves, meadows of gorgonians and sponges, cliffs, chutes, tunnels and wrecks is an attractive option. 6 Cuba FOREIGN TRADE No. 3/2016

7 Special Articles Nature tourism The variety of landscapes of Cuba is a singularity in the insular Caribbean. The archipelago forms an ecological mosaic due to its rich landscape, remarkable biodiversity and high endemism. Cuba has 253 protected areas, of which 3 are categorized nature reserves; 14 national parks; 20 ecological reserves; 10 remarkable natural elements; 12 floristic reserves; 23 wildlife refuges; 8 natural landscapes and 13 protected areas of managed resources The relief of Cuba is heterogeneous and consists of flat, rolling hills and mountainous areas. Mountainous areas are grouped along the whole country, in four massifs: the Guaniguanico mountain range, formed by the Sierras de los Órganos and del Rosario; the Guamuhaya mountain range, formed by the sierras of Trinidad and Sancti Spiritus; the mountains of the Sierra Maestra, with its extension to the east in the Sierra de la Gran Piedra, and finally the Sagua- Baracoa mountain range. These mountain groups are isolated from each other, contributing to the existence in them of the greatest biodiversity of the island. It is worth noting among these mountain ranges, the highest point of the Cuban geography, the Pico Real del Turquino, located in the Sierra Maestra, 1,974 meters high above sea level. Cuba has a river system with short rivers and generally low flow. It is notable also for the presence of natural and artificial reservoirs, many with great scenic attraction. Also, of significant importance, conducive for health tourism is the medicinal mineral mire and waters; these are located in different areas of the archipelago. Because of its natural values, attractive landscapes and rich flora and fauna, stand out in Cuban geography: Viñales Valley, declared by UNESCO Cultural Landscape of Humanity, Cuba only area of this category. It also excels the biosphere reserves Guanahacabibes in Pinar del Rio; Sierra del Rosario in Artemisa; Zapata Swamp in Matanzas; Buenavista area in the provinces of Villa Clara and Sancti Spiritus; Baconao in Santiago de Cuba and Cuchillas del Toa in Guantanamo. Some of these sites are already considered among the favorites for nature tourism destinations. Historical-cultural heritage Major cities and settlements in the country account important architectural values. The first seven villages, within them Havana, flaunt urban layout and degree of conservation that make them unique in the Caribbean area. In the cities, the architecture covers practically all styles and demonstrations. They are present the baroque, eclectic, neoclassicism, art nouveau and art deco, from which modern architecture is framed. Balconies, balustrades, doorways, half-point arches closed with lights sifting the sun, give the Cuban architecture a distinctive feature within the Caribbean area. Music, painting, sculpture, literature and dance, popular parties, gastronomy and craftsmanship make up, in addition, a notable panorama in the rich and polychromic Cuban culture. In the historical centers of Old Havana, Trinidad, Cienfuegos and Camagüey, declared by the UNESCO World Heritage Sites, and in the not less interesting cities of Sancti Spiritus, Remedios, Gibara, Holguín, Bayamo, Baracoa and Santiago de Cuba, there are countless buildings, forts, palaces and stately old homes that make a valuable heritage. In most of these cities, events of international importance are developed. In the time period from the current year and 2030, is planned a development that takes into account the main priorities associated to the tourism corridors Havana-Matanzas-Varadero, Sabana-Camagüey (Jardines del Rey) archipelago, South Coast circuit, north Eastern and Los Canarreos. It is also planned several development programs related to recreation, nature tourism, nautical, real estate development associated with the golf, as well as the link with the local initiative and offer of the non-state sector. And related to the hotel industry, it is expected to reach 85,000 rooms by SECTORIAL INFORMATION Cuba is the largest Caribbean island and features, like no other destination in the Caribbean, with a tourism product characterized by popular entertainment, exceptional natural attractions, a native heritage, prolific artistic and cultural life, political stability and security for tourists. With 21 years of experience in the Cuban tourism industry, the Gran Caribe Hotel Group operates 45 tourist facilities, divided into categories: all-inclusive, family, historical and business or city, beach and cay. Among the brands that the industry promotes currently are Hola Club, Club Premium and Classic. Since 1987, the hotel Group Cubanacán has consolidated its business design, which includes partnerships with prestigious international hotel chains. Besides his city hotels, it has achieved the trademarks of sun and beach: Brisas and Club Amigo Horizontes and Horizontes brand, with hotels located in nature environments. The Islazul Hotel Group has in its patrimony 106 hotels of 2 and 4 stars, houses and apartments throughout Cuba fundamentally in beaches, cities and mountains, also in locations very near to mineral waters, with a total of 9969 rooms. Starting from the specialization of a diversified product, Islazul offers 3 different hotel brands. With 25 years experience, Gaviota is currently the organization with the most dynamic growth in the Cuban tourism industry. This tourism group has among its objectives the promotion and sales of hotel and tourism services, as well as specialization in healthcare, nautical, fishing, diving and other modalities. The Marlin Company, which belongs to Business Group Cubasol it is dedicated to promoting marine and nautical business in general and the operation of such facilities. Marlin currently has 5 international marine and 7 nautical bases, 22 dive centers and more than 1,200 employees nationwide. 7 Cuba FOREIGN TRADE No. 3/2016

8 4 - BENEFITS OF INVESTING IN TOURISM IN CUBA Special Articles The approval of the Law No. 118 and its complementary regulations favor a positive business environment in Cuba. To the offered fiscal incentives are added others advantages, which encourage foreign investors to select Cuba as a place to invest; among them are: - The formulation of a sectorial policy to identify investment opportunities with foreign capital, allowing accessing to the Cuban market. - Legal body, safe and transparent. - Political, social and legal stability. - Geographical location in the center of a growing market. - A security atmosphere for foreign people. - High levels of standards in education, health and social security for the population. - Highly qualified manpower. - Government policy that give priority to research and technological innovation. - Promotion institutions with highly qualified and skilled personnel for offering services to investors. -Basic infrastructure in the main tourist poles of the country. Legal regime of the Foreign Investment: - Law no. 1 18/2014, Law of Foreign Investment. - Decree no. 325/2014, Regulation of the Law of Foreign Investment. - Resolutions no. 46/2014 and no. 47/2014 of the Central Bank of Cuba. - Resolution no. 128/2014 of the Ministry of Foreign Trade and Investment. - Resolution no. 16/2014 of the Ministry of Labor and Social Security. - Agreement no May/2014 of the Council of Ministers. - Decree no. 27/2015, Regulation of the investment process. 5 - FOREIGN INVESTMENT FOR TOURISM IN CUBA The Law No. 118 establishes the modalities that can be adopted by the business with foreign investment: - Joint ventures. - Contracts of international economic association include, among others: hotel, productive and services management contracts, the contracts for the provision of professional services, the risk contracts for the exploration of non-renewable natural resources, for construction and agricultural production. - Totally foreign capital companies; the foreign investor, would be able to settle within the national territory of Cuba as: a. A natural person, acting on his own behalf, b. A juridical person, by setting up a Cuban subsidiary office of the foreign entity on its own, c. A juridical person, by establishing a branch of a foreign entity. 6 - FIGURES OF TOURISM FOREIGN INVESTMENT IN CUBA At the end of September 2016 there are 25 established joint ventures, included the joint venture Shanghai Suncuba, in China. Of them, 13 joint ventures have already executed investments, with a total of rooms operating in 15 hotels under this investment modality. The remaining joint ventures are in different stages. In the same date, there are 76 hotel management contracts with 17 foreign hotel chains. These contracts cover a total of rooms, representing 60,4 % of the total existing rooms in the country and 87.3% of all 4 and 5 start-rooms. Of them, 35 belong to Gaviota, 17 to Cubanacán and 24 to Gran Caribe. 7 - SECTORIAL POLICIES FOR THE FOREIGN INVESTMENT IN CUBA The participation of foreign investment in the tourism sector is aimed at: Foreign investment participation in the sector will be directed to promote hotels through new building or rebuilding of accommodation facilities, as well of the complementary infrastructures. In out-hotel activity it will be promoting real estate development associated with tourism, managing 100% Cuban marinas by service administration contracts and the building of theme parks using high technologies. Not include are all activities related to dolphinariums. Another aim will be to diversify the management and commercialization of tourism facilities by renowned foreign chains. Priorities will include the Guardalavaca area in the north of Holguín province, the South Central Coast, specifically Cienfuegos, Playa Santa Lucia beach in the northern part of Camagüey and the Covarrubias Tourist Resort Area in the north of Las Tunas province. Foreign investors participation will be exceptional in Trinidad, Varadero Cayo Largo. Already compromised are Old Havana and northern country keys. 8 Cuba FOREIGN TRADE No. 3/2016

9 8 - OPPORTUNITIES BY TERRITORIES FOR TOURIST PREFERENTIAL USE Special Articles Construction and commercialization of hotel capacities in the tourist destination Havana. Havana was the first city founded by the Spanish in the western part of Cuba in 1519; is unique for its heritage values. The historic center, declared by UNESCO in 1982 a World Heritage Site along with the system of fortifications, receives that deserved international recognition for preserving, throughout the time, the foundational essence of the city, as an urban set of great architectural historical values. It is the most important urban center in the country, for being the capital city of the Republic. This destination is essentially a City product, where the patrimonial values, culture, scientific and technical development and education are enhanced. It has the largest infrastructure in the country for events and hotels. Investment modality: Joint Venture Cuban Party: Cubanacán; Gran Caribe Potential market: As strategy it is intended to consolidate existing markets and that are growing, such as: USA, France, Italy, Mexico and Spain; to recover markets that show decreasing numbers or stagnation and to attract new markets. MONTO DE INVERSIÓN ESTIMADO/ ESTIMATED INVESTMENT (MUSD) HOTEL AEROPUERTO/ AIRPORT HOTEL PARCELAS LOCALIZADAS EN EL SECTOR SUROESTE DE LA HABANA/ PLOTS LOCATED IN HAVANA SOUTHWEST SECTOR HOTEL PARCELA 4/ LOT 4 HOTEL PARCELA 5/ LOT 5 HOTEL PARCELA 17/ LOT * ** *** *** HABITACIONES/ ROOMS SUPERFICIE/ AREA (HA) 2,00 2,91 2,98 1,22 RESULTADOS ANUALES ESTIMADOS/ ESTIMATED ANNUAL RESULTS HABITACIONES DÍAS EXISTENTES (UNO)/ ROOMS EXISTING DAYS (ONE) NIVEL DE OCUPACIÓN/ OCCUPANCY RATE (%) HABITACIONES DÍAS OCUPADAS (UNO)/ ROOMS DAYS OCCUPIED (ONE) DENSIDAD OCUPACIONAL/ OCCUPANCY DENSITY TURISTAS DÍAS (UNO)/ TOURIST DAYS (ONE) INGRESOS MEDIOS POR TURISTAS (USD)/ AVERAGE INCOME PER TOURIST (USD) INGRESOS TURÍSTICOS (USD)/ TOURISM REVENUES (USD) * Calculado en función del costo por habitación, ascendente a 250 MUSD/ Calculated on cost per room of 250 MUSD ** Calculado en función del costo por habitación, ascendente a 184 MUSD/ Calculated on cost per room of 184 MUSD *** Calculado en función del costo por habitación, ascendente a 185 MUSD/ Calculated on cost per room of 185 MUSD Construction and commercialization of hotel capacities and high standard villas in the territory for preferential tourist use Cienfuegos. Cienfuegos, known as the Pearl of the South, sets its attractiveness as a tourist destination in the practice of cultural, nautical, nature and sun and beach tourism. The historic center of the city, declared World Cultural Heritage in 2005, impresses visitors with its historical and cultural treasures and architectural values. The Pearl of the South is also a major destination for events tourism. All these bounties of Cienfuegos are complemented by an extensive infrastructure including roads, an airport and transport services. Investment modality: Joint Venture Cuban Party: Gran Caribe Potential market: As strategy it is intended to consolidate existing markets and that are growing, such as: Canada, USA, UK, Germany and France; to recover markets that show decreasing numbers or stagnation and to attract new markets. 9 Cuba FOREIGN TRADE No. 3/2016

10 Special Articles PARCELAS LOCALIZADAS EN SECTOR ZONA NORTE/ PARCELA LOCALIZADA EN SECTOR ZONA PARCELAS LOCALIZADAS EN SECTOR ZONA NORTE/ PARCELA LOCALIZADA EN SECTOR ZONA LOTS LOCATED IN THE NORTHERN ZONE SECTOR SUR/ LOT LOCATED IN THE SOUTHERN LOTS LOCATED IN THE NORTHERN ZONE SECTOR SUR/ LOT LOCATED IN THE SOUTHERN ZONE SECTOR ZONE SECTOR HOTEL DEL MAR 1 HOTEL DEL MAR 2 HOTEL PUESTA DEL SOL HOTEL DEL MAR HOTEL DEL MAR HOTEL PUESTA DEL SOL MONTO DE INVERSIÓN ESTIMADO/ * * * MONTO DE INVERSIÓN ESTIMADO/ * * * ESTIMATED INVESTMENT (MUSD) ESTIMATED INVESTMENT (MUSD) HABITACIONES/ ROOMS HABITACIONES/ ROOMS SUPERFICIE/ AREA (HA) 1,0 1,0 0,75 SUPERFICIE/ AREA (HA) 1,0 1,0 0,75 RESULTADOS ANUALES ESTIMADOS/ RESULTADOS ANUALES ESTIMADOS/ ESTIMATED ANNUAL RESULTS ESTIMATED ANNUAL RESULTS HABITACIONES DÍAS EXISTENTES (UNO)/ HABITACIONES DÍAS EXISTENTES (UNO)/ ROOMS EXISTING DAYS (ONE) ROOMS EXISTING DAYS (ONE) NIVEL DE OCUPACIÓN/ NIVEL DE OCUPACIÓN/ OCCUPANCY RATE (%) OCCUPANCY RATE (%) HABITACIONES DÍAS OCUPADAS (UNO)/ HABITACIONES DÍAS OCUPADAS (UNO)/ ROOMS DAYS OCCUPIED (ONE) ROOMS DAYS OCCUPIED (ONE) DENSIDAD OCUPACIONAL/ DENSIDAD OCUPACIONAL/ OCCUPANCY DENSITY OCCUPANCY DENSITY TURISTAS DÍAS (UNO)/ TURISTAS DÍAS (UNO)/ TOURIST DAYS (ONE) TOURIST DAYS (ONE) INGRESOS MEDIOS POR TURISTAS (USD)/ INGRESOS MEDIOS POR TURISTAS (USD)/ AVERAGE INCOME PER TOURIST (USD) AVERAGE INCOME PER TOURIST (USD) INGRESOS TURÍSTICOS (USD)/ INGRESOS TURÍSTICOS (USD)/ TOURISM REVENUES (USD) TOURISM REVENUES (USD) * Calculado en función del costo por habitación, ascendente a 190 MUSD/ Calculated on cost per room of 190 MUSD Construction and commercialization of hotel capacities of high standard in the territory for preferential tourist use Santa Lucía, Camagüey. In the north of Camagüey there are two nodes in tourism development: the destination Santa Lucía Beach and Camagüey city. The first one addressed to sun and beach, and the second one integrated to the product Cuba Circuit and other optional from Santa Lucía beach, with great potential for event, culture and historic tourism from its rich heritage. Investment modality: Joint Venture Cuban Party: Cubanacán; Gran Caribe Potential market: As strategy it is intended to consolidate existing markets and that are growing, such as: Canada, USA, France, Italy; recover markets that show decreasing numbers or stagnation and to attract new markets. MONTO DE INVERSIÓN ESTIMADO/ ESTIMATED INVESTMENT (MUSD) PARCELAS LOCALIZADAS EN SECTOR LA BOCA/ LOTS LOCATED IN THE LA BOCA SECTOR HOTEL PARCELA 19/ LOT 19 HOTEL PARCELA 106/ LOT 106 HOTEL PARCELA 83/ LOT Cuba FOREIGN TRADE No. 3/2016 PARCELAS LOCALIZADAS EN RESIDENCIAL TARARACOS/ LOTS LOCATED AT RESIDENCIAL TARARACOS HOTEL PARCELA 65/ LOT 65 HOTEL PARCELA 68/ LOT 68 HOTEL PARCELA 71/ LOT * * * ** ** ** HABITACIONES/ ROOMS SUPERFICIE/ AREA (HA) 29,5 3,9 13,7 8,59 23,89 20,97 RESULTADOS ANUALES ESTIMADOS/ ESTIMATED ANNUAL RESULTS HABITACIONES DÍAS EXISTENTES (UNO)/ ROOMS EXISTING DAYS (ONE) NIVEL DE OCUPACIÓN/ OCCUPANCY RATE (%) HABITACIONES DÍAS OCUPADAS (UNO)/ ROOMS DAYS OCCUPIED (ONE) DENSIDAD OCUPACIONAL/ OCCUPANCY DENSITY TURISTAS DÍAS (UNO)/ TOURIST DAYS (ONE) INGRESOS MEDIOS POR TURISTAS (USD)/ AVERAGE INCOME PER TOURIST (USD) INGRESOS TURÍSTICOS (USD)/ TOURISM REVENUES (USD) * Calculado en función del costo por habitación, ascendente a 160 MUSD/ Calculated on cost per room of 160 MUSD ** Calculado en función del costo por habitación, ascendente a 165 MUSD/ Calculated on cost per room of 165 MUSD

11 Special Articles Construction and commercialization of hotel capacities and high standard villas in the territory for preferential tourist use Covarrubias, Las Tunas. In a very recent appearance on the international tourism scene of the largest of the Antilles, the province of Las Tunas, known as the Balcony of the East, offers beautiful beaches and nature tourism, based on the beauty of its landscapes and the wealth of its medicinal waters. It also has adequate space for speleological research. On the north coast is the most beautiful beach destination: Covarrubias, with a comfortable hotel infrastructure, protected by a virgin vegetation and sand strips 8 meters wide on average and benefited also by a coral reef about 6 Km long. Investment modality: Joint Venture Cuban Party: Cubanacán Potential market: As strategy it is intended to consolidate existing markets and that are growing, such as: Canada, Germany, Holland, UK, France and Italy; to recover markets that show decreasing numbers or stagnation and to attract new markets. PARCELAS LOCALIZADAS EN SECTOR COVARRUBIAS/ LOTS LOCATED IN THE COVARRUBIAS SECTOR MONTO DE INVERSIÓN ESTIMADO/ ESTIMATED INVESTMENT (MUSD) PARCELA/ LOT 1-A PARCELA/ LOT 2-A PARCELA/ LOT 3-A HABITACIONES/ ROOMS * * * SUPERFICIE/ AREA (HA) RESULTADOS ANUALES ESTIMADOS/ ESTIMATED ANNUAL RESULTS HABITACIONES DÍAS EXISTENTES (UNO)/ ROOMS EXISTING DAYS (ONE) NIVEL DE OCUPACIÓN/ OCCUPANCY RATE (%) HABITACIONES DÍAS OCUPADAS (UNO)/ ROOMS DAYS OCCUPIED (ONE) DENSIDAD OCUPACIONAL/ OCCUPANCY DENSITY TURISTAS DÍAS (UNO)/ TOURIST DAYS (ONE) INGRESOS MEDIOS POR TURISTAS (USD)/ AVERAGE INCOME PER TOURIST (USD) INGRESOS TURÍSTICOS (USD)/ TOURISM REVENUES (USD) 10,6 13,1 12, * Calculado en función del costo por habitación, ascendente a 170 MUSD/ Calculated on cost per room of 170 MUSD PARCELAS LOCALIZADAS EN SECTOR COVARRUBIAS/ LOTS LOCATED IN THE COVARRUBIAS SECTOR PARCELA/ LOT 2-B PARCELA/ LOT 3-B PARCELA/ LOT 4-B MONTO DE INVERSIÓN ESTIMADO/ * * * ESTIMATED INVESTMENT (MUSD) HABITACIONES/ ROOMS SUPERFICIE/ AREA (HA) 11,4 16,12 13,19 RESULTADOS ANUALES ESTIMADOS/ ESTIMATED ANNUAL RESULTS HABITACIONES DÍAS EXISTENTES (UNO)/ ROOMS EXISTING DAYS (ONE) NIVEL DE OCUPACIÓN/ OCCUPANCY RATE (%) HABITACIONES DÍAS OCUPADAS (UNO)/ ROOMS DAYS OCCUPIED (ONE) DENSIDAD OCUPACIONAL/ OCCUPANCY DENSITY TURISTAS DÍAS (UNO)/ TOURIST DAYS (ONE) INGRESOS MEDIOS POR TURISTAS (USD)/ AVERAGE INCOME PER TOURIST (USD) INGRESOS TURÍSTICOS (USD)/ TOURISM REVENUES (USD) * Calculado en función del costo por habitación, ascendente a 170 MUSD/ Calculated on cost per room of 170 MUSD 11 Cuba FOREIGN TRADE No. 3/2016

12 Special Articles Construction and commercialization of hotel capacities and high standard villas in the territory for preferential tourist use Guardalavaca, Holguín. The tourist destination of Holguin is one of the destinations with better service and higher satisfaction levels in the country. This area of eastern Cuba is mixed with a group of attributes, because besides having beautiful beaches and exuberant nature, it has a rich historical and cultural heritage; a hotel infrastructure mostly of four and five stars, with qualified professional force. There are different forms of tourism: sun and beach, nature, nautical, diving, health, business, events and cultural tourism. Preserves the area of the discovery of America and the archaeological capital of Cuba, and is ideal destination for those seeking entertainment, cultural exchange, peace, security and wellbeing. Investment modality: Joint Venture Cuban Party: Cubanacán Potential market: As strategy it is intended to consolidate existing markets and that are growing, such as: Canada, UK, Germany, Italy and Holland; to recover markets that show decreasing numbers or stagnation and to attract new markets. PARCELAS LOCALIZADAS EN SECTOR NORTE GUARDALAVACA/ LOTS LOCATED IN THE NORTH GUARDALAVACA SECTOR MONTO DE INVERSIÓN ESTIMADO/ ESTIMATED INVESTMENT (MUSD) HOTEL PARCELA/LOT 8 VILLA/ BUNGALOWS, HOTEL PARCELA/LOT 8-A VILLA/ BUNGALOWS, HOTEL PARCELA/LOT * * * HABITACIONES/ ROOMS SUPERFICIE/ AREA (HA) 17,84 17,84 18,00 RESULTADOS ANUALES ESTIMADOS/ ESTIMATED ANNUAL RESULTS HABITACIONES DÍAS EXISTENTES (UNO)/ ROOMS EXISTING DAYS (ONE) NIVEL DE OCUPACIÓN/ OCCUPANCY RATE (%) HABITACIONES DÍAS OCUPADAS (UNO)/ ROOMS DAYS OCCUPIED (ONE) DENSIDAD OCUPACIONAL/ OCCUPANCY DENSITY TURISTAS DÍAS (UNO)/ TOURIST DAYS (ONE) INGRESOS MEDIOS POR TURISTAS (USD)/ AVERAGE INCOME PER TOURIST (USD) INGRESOS TURÍSTICOS (USD)/ TOURISM REVENUES (USD) * Calculado en función del costo por habitación, ascendente a 250 MUSD/ Calculated on cost per room of 250 MUSD PARCELAS LOCALIZADAS EN SECTOR NORTE GUARDALAVACA/ LOTS LOCATED IN THE NORTH GUARDALAVACA SECTOR MONTO DE INVERSIÓN ESTIMADO/ ESTIMATED INVESTMENT (MUSD) VILLA/ BUNGALOWS, HOTEL PARCELA/LOT 12 HOTEL PARCELA/ LOT 3 HOTEL PARCELA/ LOT * * * HABITACIONES/ ROOMS SUPERFICIE/ AREA (HA) 14, 0 12,16 7,51 RESULTADOS ANUALES ESTIMADOS/ ESTIMATED ANNUAL RESULTS HABITACIONES DÍAS EXISTENTES (UNO)/ ROOMS EXISTING DAYS (ONE) NIVEL DE OCUPACIÓN/ OCCUPANCY RATE (%) HABITACIONES DÍAS OCUPADAS (UNO)/ ROOMS DAYS OCCUPIED (ONE) DENSIDAD OCUPACIONAL/ OCCUPANCY DENSITY TURISTAS DÍAS (UNO)/ TOURIST DAYS (ONE) INGRESOS MEDIOS POR TURISTAS (USD)/ AVERAGE INCOME PER TOURIST (USD) INGRESOS TURÍSTICOS (USD)/ TOURISM REVENUES (USD) * Calculado en función del costo por habitación, ascendente a 250 MUSD/ Calculated on cost per room of 250 MUSD 12 Cuba FOREIGN TRADE No. 3/2016

13 9 - HOTEL MANAGEMENT AND MARKETING CONTRACTS Special Articles In the case of these hotels in operation it provides for the possibility of including Manager financing for the reconstruction of the facility and also can be assessed according to each business and administrator management, the possibility of approving administration and commercialization contracts with duration terms longer than five years. CONTRATOS DE ADMINISTRACIÓN Y COMERCIALIZACIÓN HOTELERA/ HOTEL MANAGEMENT AND COMMERCIALIZATION CONTRACTS PROVINCIA/ PROVINCE GRAN CARIBE POLO TURÍSTICO/ TOURISM RESORT La Habana La Habana Complejo/Complex Atlántico-Villa Los Pinos INSTALACIÓN/ FACILITY PRODUCTO/ PRODUCT CATEGORÍA/ CATEGORY Casas de Playa y Hotel/Beach houses and Hotel HABITACIONES/ ROOMS 4* 118, de ellas 92 en el Hotel/of these 92 in the Hotel La Habana New York Ciudad/City 5* 56 La Habana Villa Trópico Playa/Beach 4* 154 Matanzas Varadero Sun Beach Playa/Beach 3* 272 CUBANACÁN Pinar del Río Cayo Levisa Cayo Levisa Playa/Beach 4* 50 Viñales Los Jazmines Naturaleza/Natur 3* 70 Viñales La Ermita Naturaleza/Natur 3* 62 Viñales Rancho San Vicente Naturaleza/Natur 3* 53 La Habana La Habana Comodoro Ciudad/City 4* 467 La Habana Bello Caribe Ciudad/City 3* 120 La Habana Chateau Miramar Ciudad/City 4* 50 Artemisa Soroa Villa Soroa casas/houses- Castillo de las Nubes Naturaleza/Natur 3* 78 Matanzas Ciénaga de Zapata Ciénaga de Zapata Playa Girón Playa Larga Playa y Naturaleza/ Beach and Natur Playa y Naturaleza/ Beach and Natur 2* 282 3* 69 Sancti Spiritus Trinidad Complejo/Complex Costa Sur- Ancón Playa/Beach 3* 411 Trinidad Complejo/Complex Las Cuevas Trinidad 500 Ciudad/City 3* 122 Trinidad Villa María Dolores Naturaleza/Natur 3* 65 Ciego de Ávila Cayo Coco Colonial- Spa Acuavida Playa/Beach 4* 458 Camagüey Santa Lucía Gran Club Santa Lucía Playa/Beach 3* 252 Santa Lucía Mayanabo Playa/Beach 3* 225 Las Tunas Covarrubias Brisas Covarrubias Playa/Beach 4* 180 Holguín Guardalavaca Atlántico Guardalavaca Playa/Beach 3* 746 Granma Granma Marea del Portillo Playa/Beach 3* 283 Santiago de Cuba Santiago de Cuba Club Amigo Carisol Los Corales Playa/Beach 3* 310 Santiago de Cuba Versalles- Punta Gorda Ciudad/City 3* 90 Santiago de Cuba Complejo/Complex Casa Granda- Gran Hotel Imperial Ciudad/City 4* 139 ISLA AZUL Pinar del Río Pinar del Río Complejo Hotelero/ Hotel Complex Ciudad/City 3* 272 (Comercio, Globo, Vueltabajo, Pinar del Río) La Habana La Habana Complejo Hotelero / Hotel Complex Ciudad/City 3* 130 Colina -Bruzón La Habana Hotel Panamericano Ciudad/City 3* 886 La Habana Hotel Tulipán Ciudad/City 3* 333 Playas del Este Complejos de Villas / Villas Complex Playas del Este Playa/Beach 3* 170 Playas del Este Condominios/Condominiums Boca Ciega Playa/Beach 3* 281 Matanzas Varadero Complejo Hotelero/ Hotel Complex (Dos Mares Pullman Ledo Karey Los Delfines) Playa/Beach 3* 305 Villa Clara Villa Clara Hotel Elguea Naturaleza/Natur 2* 135 Villa Clara Complejo Hotelero / Hotel Complex (Florida Santa Clara Libre) Ciego de Ávila Ciego de Ávila Complejo Hotelero/ Hotel Complex (Apartahotel Azul Morón Ciego de Ávila) Camagüey Camagüey Complejo Hotelero/ Hotel Complex (Plaza Puerto Príncipe Isla de Cuba) Ciudad/City 3* 215 Ciudad y 3* 614 Playa/Beach Ciudad/City 3* 188 Holguín Holguín Villa Don Lino Playa/Beach 3* 128 Santiago de Cuba Complejo Hotelero / Hotel Complex Ciudad/City 3* 181 (Las Américas Villa San Juan) 13 Cuba FOREIGN TRADE No. 3/2016

14 10 - MARINE MANAGEMENT SERVICES CONTRACTS Special Articles New Marine in Trinidad, Sancti Spíritus. Description: Creating a new marina in the Ancon Peninsula, somewhat south of the current and with 200 berths; provide them with relevant technical services to meet the Cuban Standard of International Marine Class B. Investment modality: Services Management Contract with funding. Localization: Peninsula Ancón, Trinidad. Pole: Trinidad Cuban part: Business Group Nautical Marine Marlins Estimated amount of investment: 10 MM CUC Market Potential: The development of a high standard tourism in Trinidad is a part of the intended market. Future customers of real estate developments nearby could be owners of boats and place them in this marine appreciating its makeover. Prospective results: This investment will recover starting from reaching in the Marine the 80 % occupation of the capabilities that must grow gradually and the estimated revenue would grow from 1.0 million USD in the first four years after beginning of the exploitation and to reach 3 million annually. The investment recovery period is 12 years. Expansion of the Cayo Guillermo Marine. Jardines del Rey, Ciego de Ávila Description: Expansion of berths capacities from existing 20 to 100 berths and provides them with relevant technical services. Incorporate services to meet the Cuban Standard of International Marine Class B. Investment modality: Services Management Contract with funding. Location: Cayo Guillermo Marina, Jardines del Rey Cuban Part: Business Group Nautical Marine Marlins Estimated amount of investment: 5 MM CUC Market potential: These developments has as its market the boats owners transiting the North Coast of Cuba or are permanently located in the areas of the Caribbean Sea and nearby countries whose boat owners could locate them in this marina appreciating its makeover. The development of a high standard tourism in Jardines del Rey is part of the intended market. Prospective results: This investment will recover starting from reaching in the Marine the 80 % occupation of the capabilities that must grow gradually and the estimated revenue would grow 0.5 million USD in the first two years after beginning of the exploitation and to reach 2 million annually. The investment recovery period is 10 years. Expansion of the Marine Santiago de Cuba, Santiago de Cuba Description: Expansion of berths capacities from 20 existing to 200 berths and provides them with relevant technical services required. Rehabilitation and renovation of existing facilities and offices. Incorporate Ship handler, workshop, dry dock and other services to meet the Cuban Standard of International Marine Class A. Investment Modality: Services Management Contract with funding. Location: Bay of Santiago de Cuba, Santiago de Cuba. Cuban Part: Business Group Nautical Marine Marlins Estimated amount of investment: 20 MM CUC Potential market: This Marina, near to Jamaica and Dominican Republic, it will be of great interest for any type of tourist boats sailing in the Caribbean Sea. Prospective results: This investment will recover starting from exploitation in the Marine at a level of capabilities occupation that must grow gradually to reach 80 % and the estimated revenue would grow 1 million USD in its first year after beginning of the exploitation and to reach 2,5 millions in its 5th year and 7,0 millions in the 10th year. The investment recovery period is 12 years. New Marine Banes, Guardalavaca, Holguin Description: Creation of a marine with 100 berths and provides them with relevant technical services including services in correspondence with Cuban standard of International Marine Class C. Investment modality: Services Management Contract with funding Location: Banes Bay, Holguín. Pole Guardalavaca Cuban Part: Business Group Nautical Marine Marlins Estimated amount of investment: 5 MM CUC Potential Market: This investment is expected to complement nearby real estate developments and hotels will be marketed together with the accommodation, encouraging that many customers will be boats owners and place them in this marina. It is also envisaged as transit marine for vessels in circumnavigation around Cuba. Prospective results: This investment will recover starting from reaching in the Marine the 80 % occupation of the capabilities that must grow gradually and the estimated revenue would grow 0.5 million USD in the first two years after beginning of the exploitation and to reach 2 million annually. The investment recovery period is 10 years. Expansion of the Marine Siguanea, Isla de la Juventud Description: Expansion of berths capacities from 20 existing to 100 berths and provide them with relevant technical services. Cove dredging to deepen the entrance channel and its interior. Rehabilitation and renovation of existing facilities and offices. Incorporate Ship chandler, workshop, dry dock and other services to meet the Cuban standard of International Marine Class C. Investment modality: Services Management Contract with funding. Location: Siguanea Bay. Pole Isla de la Juventud Cuban Part: Business Group Nautical Marine Marlins Estimated amount of investment: 4 MM CUC Potential market: Currently there are no conditions for foreign vessels to identify it as a marine with the right conditions. Tourism development of the Isla de la Juventud will help bring market for this new facility. Prospective results: This investment will recover from the use of marina berths at a level of occupation of the capabilities that will grow to reach 80% including the development of fishing and diving with Marlin vessels and estimated revenues grow from 0, 75 million USD in the first two years after completion of the work to reach the 3 million annually. The estimated investment recovery period is 12 years. 14 Cuba FOREIGN TRADE No. 3/2016

15 Special Articles CONTACTOS / CONTACTS Cubanacán Dirección de Negocios / Business Direction Correo / dirmixtas@cubanacan.tur.cu Tel.: (+53) ext. 600 Sitio web / Web site: Dirección / Address: Calle 23 no. 156, El Vedado, La Habana, Cuba. Gran Caribe Dirección de Negocios / Business Direction Correo / presidencia@grancaribe.gca.tur.cu Tel.: (+53) Sitio web / Web site: Dirección / Address: Ave. 7ma. no. 4210, Miramar, La Habana, Cuba. Islazul Dirección de Negocios / Business Direction Correo / presidente@islazul.tur.cu Tel.: (+53) Sitio web / Web site: / Dirección / Address: Calle 19 e/ Paseo y A, El Vedado, La Habana, Cuba. Marlin Dirección de Negocios/ Business Direction Correo / presidente@marlin.tur.cu Tel.: (+53) Dirección / Address: Calle 184 no. 123 e/ 1ra. y 5ta. Ave., Reparto Flores, Playa, La Habana, Cuba. Gaviota Dirección de Negocios / Business Direction Correo / director.negocios@gaviota.cu Tel.: (+53) Sitio web / Web site: : Dirección / Address: Lonja del Comercio, La Habana Vieja, La Habana, Cuba. 15 Cuba FOREIGN TRADE No. 3/2016

16 Blockade Special Articles President Obama has acknowledged that the blockade should be removed; however, not only continue its prohibitions, but have worsened their financial and extraterritorial aspects The unilateral sanctions system more unjust, severe and prolonged decreed against any country Current and intact until today, is a piece of the past that must end During the application of economic, financial and commercial US blockade against Cuba, which began President John F. Kennedy on 3 February 1962 through the Presidential Executive Order 3447, the economic damage to the Cuban people, considering the dollar depreciation the against gold value in the international market, amounted to 753,688 million US dollars despite the reduction in the this precious metal price compared to the previous period. A year and nine months after December 17, 2014, date of the beginning of normalization relations process between Cuba and the northern country, and it might appear that this economic war is coming to an end, the US government maintains in force the laws, regulations and practices that sustain and continued to strengthen political, administrative and restrictive mechanisms to implement it more effectively and deliberately. Against all logic and reason, therefore, from April 2015 to March 2016 the blockade has caused more than 4,680 million dollars in damages, at current prices. The report by Cuba of this 2016 on Resolution 70/5 of the UN General Assembly: "Necessity of ending the economic, commercial and financial blockade imposed by the United States of America against Cuba" which demands an end to that policy and will discuss the Assembly in October for twenty-fifth occasion, was presented to the national and foreign press on September 9 by Foreign Minister Bruno Rodríguez Parrilla. "One should not underestimate the impact of the blockade to Cuba. It is the main obstacle to national development", he said. Do not fail to recognize the progress in relations between the governments of Cuba and the United States, but this scourge affects sensitive country sectors, said the minister, it affects services, health, education, economy, prices, wages, food and social security. There is no element in the daily life of the Cuban in which the impact of the blockade is not present", he said. President Barack Obama and his government have facilitated travel to Cuba under 12 licenses, continued Rodríguez Parrilla, but the ban on US citizens traveling to the island continues and is undoubtedly a civil rights and liberties violation. It's a shame, he added, to politicize the measures taken by the president on telecommunications to facilitate direct intercommunication infrastructures of US companies with Cuba. "It is unfortunate that these measures do not work while the blockade is in force." Cuban Foreign Minister continued to explain that investments in Cuba by US companies and businessmen remain prohibited. "Months after the President Obama visit, when he declared that soon Cuba could use the US dollar in international transactions, this restriction still remains", he enunciated. Also remain in force the unusual Trade with the Enemy, Torricelli and Helms-Burton laws". On 24 occasions the General Assembly of the multilateral organization has spoken overwhelmingly in favor of international law respect and compliance with the principles and purposes of the Organization Charter. Last year the Cuba denouncing document was approved by 191 countries. Only voted against the US and Israel. 16 Cuba FOREIGN TRADE No. 3/2016

17 Special Articles The report presented this year refers to accurate data and real examples continuity of the policy pursued by the US government against Cuba, the enforcement of the laws that support it, the limitations of President Obama executive actions, the head of state prerogatives to continue modifying the siege without having to go to Congress and the main coercive measures subsequent to December 17, Despite repeated calls by President Obama to Congress to put an end, and the measures enacted so far by the White House, positive but insufficient, Cuba still unable to import and export freely goods and services to or from the United States, not can have direct banking relations with that country or receive US investments, with the exception of the telecommunications sector. Meanwhile, the persecution of Cuban financial transactions abroad and the blockade extraterritorial scope not only persist but have worsened. The examples compiled in the report demonstrate, once again, that this policy is not just a bilateral issue between the US and Cuba. It applies extraterritorially, strictly speaking, with total impunity and in clear violation of international law. Repeated President Barack Obama calls to put an end to this policy are not enough. He should be consistent and make maximum use of its broad executive powers to empty the blockade of its substantial content, in line with the demands of the international community, although their total elimination requires a decision by Congress. In March 2016, during his visit to Cuba, US President again recognized that the blockade policy against the island is obsolete, should be removed and called the US Congress again to end it. And during the years 2015 and 2016 the Treasury and Commerce departments made several amendments to this policy regulations that, although constitute positive steps, are insufficient. In September 2015 and in the same month of 2016 President Obama again renewed the sanctions against Cuba under the Trade with the Enemy Law of 1917, foundational part of laws and regulations that make up the blockade, citing foreign policy interests. At the time of the report preparation conclusion, it has not materialized the announced authorization for the US dollar use in Cuban international transactions, nor the possibility that US banks provide credits to Cuban importers of US authorized products. In a year blockade detracted million dollars to the Cuban economy. In the photo the star product of Cuban biotechnology that could help US citizens with diabetes For the existence of normal relations will be necessary that the blockade is lifted. The Cuban tobacco could be sold in the US and generate large revenues to Cuba The measures taken by the US government are limited in scope. Examples of economic and social damages caused by its implementation from April 2015 to April 2016 are numerous. The blockade should never exist and is greater obstacle for the full development of the economy potential, for the welfare of the Cuban people, as well as economic, commercial and financial relations of the island with the United States and the rest of the world; it must be lifted unilaterally and unconditionally. As long as it persists is not possible to advance in the process towards bilateral relations normalization, which the government of Cuba has reiterated its willingness to continue it on the basis of sovereign equality, non-interference in internal affairs and full respect for their independence. However, still apply the laws and regulations that support it, and are applied rigorously by the US government agencies, especially by the Treasury and Commerce Departments and, in particular, by the Office of Foreign Assets Control (OFAC). Among the main addition to the aforementioned Trade with the Enemy Law of Act of 1917, they are: Cuban Democracy Law or Torricelli Act (1992): Prohibits US companies subsidiaries of third countries from trading goods with Cuba or Cuban nationals. Prohibits ships from 17 Cuba FOREIGN TRADE No. 3/2016

18 Special Articles Many financial institutions fear to relate to this nation before the risk of being fined. In February the French company CGG Services S.A. (in the photo) was penalized with $ 614,250 third countries that touch Cuban port, enter US territory within 180 days, except those licensed by the Treasury Secretary. Cuban Liberty and Democratic Solidarity Law or Helms- Burton Law (1996): Codified the blockade provisions, broadening its extraterritorial scope by imposing sanctions on executives of foreign enterprises that carry out transactions with nationalized US properties in Cuba and threat of lawsuits in US courts which has been object of an exemption, renewed year after year. Likewise it limited presidential prerogatives for suspending this policy even though it establishes that he preserves his power to authorize transactions with Cuba via the issuance of licenses. President prerogatives to continue modifying the blockade without having to go to Congress The US president has broad executive powers to continue modifying the blockade regulations application, even beyond what has been done to date, to empty it of much of its content. While Congress is empowered to revoke the laws that support the blockade policy against Cuba and to order an end, this act may be preceded by the removal of the vast majority of restrictions through executive actions. The Helms-Burton Law, signed by President William Clinton on March 12, 1996, codified into law the blockade against Cuba and the executive regulations that support it. However, the same law preserved the broad powers skein of the president, through the issuance of licenses, allowing various transactions prohibited by the blockade. Other measures that the president can take to modify aspects of the implementation of the blockade policy against Cuba are as follows: 1. Enable Cuban institutions (banks, companies, etc.) open correspondent accounts in United States banks. 2. Reversing the financial persecution policy against Cuba. 3. Authorize direct exports of US products to Cuban enterprises. 4. Allow US imports of Cuban products or services that are exportable items of the Cuban economy as cigars, rum, sugar, biotechnology products, including those manufactured in third countries containing Cuban raw materials such as nickel or sugar. 5. To authorize US companies to invest in Cuba. 6. To authorize US citizens to receive medical treatment in Cuba. 7. Eliminate the prohibition that prevents entry to US ports for 180 days, for ships that have transported goods to Cuba. These actions show that it is possible a substantive modification of scaffolding blockade, if the US president used his broad executive powers. There are only four aspects in which the president cannot act; they require congressional action for its elimination or modification, to be regulated by laws. They are: 1. The ban on US subsidiaries in third countries to trade goods with Cuba (Torricelli Law). 2. The ban on transactions with US properties that were nationalized in Cuba (Helms-Burton). 3. The impediment to US citizens traveling to Cuba for tourism purposes (Reform Trade Sanctions and Export Extension Law of 2000). 4. The prohibition to grant financing for sales of US agricultural products to Cuba (Reform Trade Sanctions and Export Extension Law of 2000). You can full download the Report by Cuba on Resolution 70/5 of the United Nations General Assembly, "Necessity of ending the economic, commercial and financial blockade imposed by the United States of America against Cuba", in any of the following URL: In Spanish: files/informebloqueo2016es.pdf In English: files/informebloqueo2016en.pdf President William Clinton signing the Helms Burton Law Act in March Cuba FOREIGN TRADE No. 3/2016

19 Special Articles Our Foreign Minister presents to the press in Havana the report that Cuba will present to the UN. By its deep affectations, the siege is the main obstacle to the Island development/ Cubaminrex Diplomatic relations were restored in 2015, but investments in Cuba by US companies and businessmen remain prohibited The ban to US citizens of traveling to the island continues and is a civil rights and liberties violation 19 Cuba FOREIGN TRADE No. 3/2016

20 Special Articles Reached bilateral agreements to restructure debts Since December 2015, when was achieved a memorable Multilateral Agreement with the Cuba Creditors Countries Ad-Hoc Group in the Paris Club comprises of 14 countries: France, Spain, Japan, Italy, Australia, Austria, Belgium, Canada, Denmark, Finland, Netherlands, Sweden, Switzerland and the United Kingdom, and of them, the first four are the main creditors, in that order, and as part of the process of implementation thereof, the debt regularization and external finances consolidation, the island government has developed bilateral negotiations with the Group members and signed documents of significance. Accordingly Cuba has signed agreements with France, Austria, United Kingdom, Belgium, Finland, Netherlands, Spain, Switzerland, Australia, Denmark, Sweden, Italy and Japan in an attempt to create a favorable space to restore international credibility in its economy, while it is extending an atmosphere conducive to foreign investment, trade and access to potential new loans. This process has been advancing despite financial constraints caused to Cuba by the US blockade, the global crisis and its status as a poor country, restrictions that prevented from fulfilling its commitments and objectives as were their wishes. Talks to normalize the debt in the medium and long terms with each of the creditor countries were carried out by the vice president of the Council of Ministers, Ricardo Cabrisas Ruiz, and are framed in the context of the multilateral agreement reached with the said creditor group on beneficial terms to Cuba. These instruments were seen as an important and positive contribution to the development of common objectives and the economic, commercial and financial relations between the signatory nations. On February 1st. our President Raúl Castro Ruz and French President Francois Hollande witnessed in Paris the signing of several agreements, one of which allows regularize the debt of the island with the Gallic nation, including the possibility Cuba has reached bilateral agreements with 13 of its 14 creditors. In the photos, in this order, moments of signing with Netherlands, Austria and Finland 20 Cuba FOREIGN TRADE No. 3/2016

21 Special Articles that a portion of it can be converted into funds to reinvest in the development of different areas and to accelerate French investment projects in Cuba. Framed in the official visit to Cuba of Austria President, Heinz Fischer, on March 2 Cabrisas and Rudolf Scholten, general director of the Austrian Control Bank, signed an agreement for the treatment of debt, that they expressed, it is an important contribution to the proposed common objectives. Fischer opened that day the Cuba-Austria Business Forum. With Holland bilateral debt regularization occurred on March 24, following the signing of legal instruments by Vice President Cabrisas and Deputy Director of Export Credit Insurance of the Kingdom of the Netherlands, Gerald Enting. The documents are related to commercial loans guaranteed by the insurance agency Atradius Dutch State Business. Regarding the United Kingdom, during the Foreign Minister Philip Hammond visit of to our country, was unveiled on April 29 the signing of the corresponding agreement, which according to statement about it "contribute to the development of economic, trade and financial relations between the two nations". Hammond, first of his rank who visited the island since 1959, was received by President Raúl Castro, occasion in which they confirmed the potential that exists to deepen relations in mutual interest areas. Cabrisas and acting Minister of Economy and Competitiveness of Spain, Luis de Guindos, signed in Madrid on May 4 agreements which reorder medium and long term debt of our country with the Iberian nation. Cuban Vice President stressed that the agreements will promote economic, trade and financial relations between Cuba and Spain, from setting up a counterpart fund to finance projects in the Caribbean country, agreed jointly. On May 18, Vice President Cabrisas and the Switzerland ambassador in Havana, Krauer Müller, endorsed the bilateral agreement during a meeting in which they pointed out that this instrument is an important step in improving mutual relations of all kinds. In Havana delegations of Australia and Cuba signed on May 19 an agreement to regularize the debt, and later that same month, Deputy Prime Minister and Minister of Foreign and European Affairs of Belgium, Didier Reynders, and Vice President Cabrisas Ruiz, signed the bilateral agreement concerning debt. On June 30 settlement with Sweden was signed by the charge d'affaires of the Embassy of that country in Cuba, Kristine Elsa María Erlandsson Juarez, and Cabrisas, who stressed the importance of the agreement for the mutual exchanges development in various fields. Cuban Vice President and Denmark Ambassador in Cuba, Henrik Bramsen Hahn, during a meeting on June 23 in Havana, Together with Francois Hollande in Paris. With the debt bilateral agreement, said President Raúl Castro, are created more favorable conditions for the development of financial relations and implementation of joint projects and new plans 21 Cuba FOREIGN TRADE No. 3/2016

22 Special Articles signed the agreement to regularize the debt and noted its importance for the reciprocal links future development. With Finland, on June 27, Cabrisas and Peter Stenlund, State Secretary of the Ministry of Foreign Affairs of that country, signed an agreement that regulates the Official Development Assistance debt between the two countries, and confirmed the willingness to work to increase trade, economic, investment and cooperation exchanges. Previously the Cuban official and the State Secretary of the Finland Foreign Ministry Pirkko Hamalainen, had signed in Havana a previous agreement to normalize the financial relationship of the island and where this nation offers the possibility of restoring financial facilities to medium- and long term. Cuba and Italy signed the corresponding agreement in the Caribbean nation capital on 12 July. Cabrisas Ruiz received for that reason Mario Giro and Ivan Scalfarotto, Deputy Minister of Foreign Affairs and International Cooperation, and Deputy Secretary of Economic Development of the Ministry of Economic Development of the Italian Republic. The parties signed four agreements that altogether regularize the situation of arrears and it includes the general agreement for debt restructuring, another on the debt associated with the Development Official Assistance, and the corresponding to the debt owed to the Italian Insurance Agency to Exporter Credit (SACE). Both sides noted that bilateral relations have continued their positive development as a result of the official visit to Cuba of Council of Ministers President, Matteo Renzi, in October With Japan, on September 19 was signed an agreement to regularize the debts situation and includes restructuring medium and long term debt, between Ricardo Cabrisas and Masaru Watanabe, Ambassador of the Asian country in Cuba. During the meeting both sides stressed the potential that exists to intensify relations in sectors such as economy and trade, investment and cooperation. Agreements regularizing Cuba s debts with Spain were signed in Madrid by Vice President Ricardo Cabrisas and Luis de Guindos, acting Minister of Economy and Competitiveness of the peninsular nation Cuba has reached bilateral agreements with 13 of its 14 creditors. In the photos, in this order, moments of signing with Austria, Finland, Netherlands, Switzerland, Sweden, Italy, Mexico, Belgium, Japan and Denmark 22 Cuba FOREIGN TRADE No. 3/2016

23 Special Articles Thereby the island has managed to normalize the debt in the medium and long term with 13 of the 14 member nations of the Cuba Creditors Ad-Hoc Group in the Paris Club, which opens new opportunities for financing projects related to the economic and social development plans on the island and possible financial credits. For its part, Russia wrote off 90% of the debt that Cuba had since the Soviet Union times, while it determined a period of 10 years for repayment of the remaining million US dollars. He also reached arrangements of various shades and scope with Mexico and Vietnam. Recall that on December 12, 2015 the government of Cuba and the Creditor Group of the Caribbean nation, also called Cuba Club, had agreed in Paris the cancellation of million of debt and regularization of the amount of million dollars in overdue debt, in a period of 18 years. This agreement provides a framework for a sustainable and definitive solution to the question of arrears owed by the largest of the Antilles by a global debt of 11,100 million, including default interest, until 31 October During the meeting with that goal in the French capital, Cuba presented the measures implemented by the government to support nation economic development, and the creditor group welcomed the progress made by Havana towards normalization of its relations with the creditors and the international financial community. It also pointed out that the implementation of payments under a formal commitment from Cuba to regularize its arrears is a necessary and important step for the normalization of financial relations between the two sides. Liquidate the existing debt is a key point in the Cuban national strategy, which is passing successfully. Sources: PL, ACN, Cubaminrex and Granma Raúl and his Russian counterpart Vladimir Putin in Moscow sealed the agreement by which Russia wrote off 90% of debt that Cuba had since the Soviet Union times and accepted 10 years to repay the remaining amount owed 23 Cuba FOREIGN TRADE No. 3/2016

24 Events During the visit of Chinese leader were signed 12 instruments that promote collaboration Li Keqiang was the first of its range in travel to the island in 56 years of diplomatic relations. In the picture, official talks between the delegations of Cuba and China Chinese premier s visit reinforced the excellent relations between Beijing and Havana Li Keqiang, Prime Minister of the State Council of the People's Republic of China, bid farewell to Cuba on Monday, September 26 after a successful two days official visit sealed with important events of economic and social interest, and the meeting held with President of the Councils of State and Ministers, Raúl Castro Ruz, during which fraternally talked about the excellent relations, major projects of existing bilateral cooperation and projections of the links in order to strengthen them. He also met with the historic leader of the Cuban Revolution, Fidel Castro. Precisely in order to promote mutual cooperation they were signed 12 major instruments on renewable energy, medical research, biotechnology, information technology, industrial 24 Cuba FOREIGN TRADE No. 3/2016 development, customs security, banking and financial cooperation, and environmental protection, as well as a protocol formalizes cancellation of debts of the Cuban side. In the context of this visit it was also signed a memorandum of understanding for the creation of a joint venture that will produce glucose meters, biosensors and other devices for medical diagnostics, in the Special Development Zone Mariel. BioCubaFarma business group entities and several Chinese firms signed this and other documents in the presence of Antonio Carricarte, first deputy minister of Foreign Trade and Investment and Xu Shaoshi, chairman of the National Development and Reform Commission of China. Also was signed an agreement for the distribution and marketing in China of PPG and Prevenox, and a letter of

25 Events President Raúl Castro and his distinguished guest addressed the major projects of cooperation that exist and the strengthening of linkages / ESTUDIOS REVOLUCIÓN intent for the technology transfer project of recombinant streptokinase, for the treatment of acute hemorrhoidal crisis. The parties also signed a memorandum of understanding for the creation of a joint unit between the Cuban Center for Molecular Immunology and the Chinese company Beijing Dongsan Biotech, for research, development and scale pilot production of monoclonal antibodies and recombinant proteins, with purpose of export to Latin America. Three other memoranda were also adopted, in this case for the development of projects in the field of bioengineering, neurotechnology, bioinformatics and proteomics, collaboration in high performance computing and production and marketing of a new biotech product used in the cancer treatment. Carlos Gutiérrez, president of BioCubaFarma said that relations between the two countries in the field of biotechnology and biopharmaceutical industries are growing for more than 15 years. "The signing of today's agreement means we are on a higher level in relations" Shaoshi said. Already in 2004 the governments of the two nations had stamped the respective signatures in a memorandum of understanding in that area. During the XII Session of the Cuba-China Business Committee authorities of both countries also signed the action plan, which will govern the efforts for economic development of both nations. This plan was signed by our president Orlando Hernández Guillén and the head of the China Council for the International Trade Promotion, Jiang Zengwei, which took place during a business forum that opened a new stage in economic relations between the two countries. "The favorable atmosphere created by the political will of the Party and the Government of Cuba and China is has to be complemented by the work of the companies, hence the importance of this meeting," said Cuban Minister of Foreign Trade and Investment Minister Rodrigo Malmierca. Jiang Zengwei noted that there are more than 200 bilateral projects in the fields of agriculture, light industry, metallurgy and biotechnology, and other Chinese officials who were part of the delegation of the great Asian nation said a sector to strengthen is tourism, since the island has become an ideal destination for Chinese travelers. In 2015 China ranked as the largest trading partner of goods worldwide to Cuba, with more than two thousand billion dollars of trade, which meant an increase of 77 % compared to After more than five decades of friendship and cooperation between their governments, parties and peoples, Cuba and China work together to raise the level of economic ties, in the light of the new measures taken in the Island to encourage foreign investment. Li Keqiang had arrived in Cuba on Saturday Sept. 24 on a tour that also took him to New York and Canada. Sources: PL, Juventud Rebelde, Granma, PL and ACN 25 Cuba FOREIGN TRADE No. 3/2016

26 Events President Raúl Castro and Japanese Prime Minister Shinzo Abe during official talks Stimulated trade and investment by Japanese Prime Minister visit On September 22 came to Havana the Prime Minister of Japan, Shinzo Abe, on an official visit, occasion in which were signed several agreements and took place official talks between the Japanese leader and President of the Councils of State and Ministers of Cuba, Army General Raúl Castro Ruz. In a cordial atmosphere, Raúl and his illustrious visitor exchanged on good state of Cuban-Japanese relations and expressed the willingness to continue working for its expansion from the existing potential, particularly in the economic and commercial sphere. Days earlier, on September 19, the two governments had signed an agreement to regularize the situation of the Cuban debts and includes the restructuring of medium and long term debt, as part of the implementation of the Multilateral Agreement with the Creditors Countries Ad-Hoc Group in the Paris Club (the details can be consulted in another article in this issue), a substantial action which embodies mutual interest in closer economic, trade, investment and cooperation ties, and provide avenues for financing Cuban economic and social development projects. Before his arrival, the head of the Japanese government had expressed to the Cuban daily Granma his desire to hold an open opinions dialogue on a wide range of issues, including trade and investment. It is my intention to express to President Raúl Castro that Japan will continue to strive for economic and social development of Cuba, he indicated and also said: "I sincerely hope that my stay will become an opportunity to open a new page for the friendly relations between the two nations". As mentioned by the Asian ruler to Granma, in 2015 the number of Japanese visitors to Cuba increased by 80% 26 Cuba FOREIGN TRADE No. 3/2016

27 Events Upon arrival, the head of the Japanese government was received by Vice President of the Council of State, Salvador Valdés Mesa and Rogelio Sierra, Deputy Foreign Minister compared to the previous year, "surpassing the 10,000 people". Japan was the second largest trading partner of Cuba between 1970 and 1985, a fact that the prime minister recalled in his answers. Then came "a stagnation period" that he associated with the Cuban debt, which recently was restructured. He also announced the celebration in Tokyo in November a Cuba and Japan public-private joint Committee meeting of the, with a view to strengthening economic relations. "I think cooperate with Cuba, joining forces, both public and private. It is also my intention to support the establishment of a business environment and the basis for economic relations that foster joint development of both countries", he said. Shinzo Abe's visit is historic, undoubtedly, because it was the first by a Japanese premier to the island and had the essential purposes strengthen relations and promote a new era of ties between the two nations. In addition he was preceded by Fumio Kishida, the first Japanese foreign minister visiting the largest of the Antilles, and who reaffirmed the beginning of a new road between the two countries, calling the current as an opportune time to expand bilateral relations. In recent months, Cuba and Japan gave further steps to strengthen ties. Last June, Miguel Díaz-Canel Bermúdez, first vice president of the Councils of State and Ministers, staged in the Asian country the highest level visit to that territory since by Fidel Castro in On the opportunities open to the participation of businessmen of the Empire of the Rising Sun in the development plans of the Cuban economy, Díaz-Canel referred specifically to the economic model updating process, the new Law on Foreign Investment and Special Development Zone Mariel. In press conference before his departure, the Japanese prime minister reviewed the results and projections of his visit to Cuba that he said marked a new chapter in relations between Tokyo and Havana. Cuba and Japan signed an agreement for the donation of medical equipment to improve the quality of services in major hospitals in the country and diagnosis of diseases, especially cancer, through the head of the Ministry of Foreign Trade and Investment (MINCEX), Rodrigo Malmierca and the director of the International Cooperation Agency (JICA). JICA Vice President, Irigaki Hidetoshi said that with this project will be provided the necessary equipment to digitize the imaging system intended for medical diagnosis and means to pathological examinations, among the most significant. He recalled that for several years the diseases from malignant tumors are the leading cause of death in the island. There is a need to strengthen the capacity to treat this scourge, he said. Cuba ranks among the Latin American countries as the most developed in the field of medicine. In that sense he suggested that if the Japanese technology and the Cuban experience combined we could expect an increase in the health care quality. At the conclusion of their stay, the Japanese dignitary made positive mention of his visit as a new page in the history of the friendship of more than 400 years between the two nations and externalized interest to relaunch bilateral ties in various fields. Earlier, during a press conference at the Hotel Nacional de Cuba, he reaffirmed that his country hopes to provide quality infrastructure and increase investment in the state and private sectors of the Caribbean nation. Cuba and Japan established diplomatic relations on December 21, 1929, but the start of their friendship dates back to 1614 with the arrival to the island's first Japanese samurai Hasekura Tsunenaga, so that in 2014 both countries celebrated the 400th anniversary of the event. In 1957 the Japanese Embassy was opened in Cuba, and the bonds have been narrowing in recent years with the strengthening and gradual expansion of centenarian s political, trade and cooperation relations between Havana and Tokyo, which have continued developing and which greatly favors the visit of Prime Minister Shinzo Abe. Sources: Granma, Juventud Rebelde and PL The visit of Japanese Prime Minister to the Island marks a milestone in the history of bilateral relations that met 400 years in Cuba FOREIGN TRADE No. 3/2016

28 Events Philippe Couillard and Raúl expressed mutual willingness to expand economic and trade ties Cuba and Quebec strengthen economic ties When talking cordially about the good situation and perspectives future of relations between Cuba and Quebec, Army General Raúl Castro Ruz, President of the Councils of State and Ministers of Cuba, and Mr. Philippe Couillard, prime minister of that Canadian province, they expressed full agreement and mutual willingness to broaden ties in the economic and commercial field. Prior Couillard had met with Ricardo Cabrisas Ruiz, vice president of the Council of Ministers and Minister of Economy and Planning; with Foreign Minister Bruno Rodríguez Parrilla, and presided over a business forum organized by our Chamber of Commerce, along with Patrick Parisot, Canadian ambassador to Havana; Christine St-Pierre, Minister of International Relations and Francophonie; Saul Polo, deputy and parliamentary assistant of the Quebec Ministry of Economy, Science and Innovation, and Nancy Lussier, president of the Chamber of Commerce and Industry Canada-Cuba. For the largest of the Antilles chaired the event Rodrigo Malmierca, Minister of Foreign Trade and Investment (MINCEX), and the President of the Chamber of Commerce of the Republic of Cuba, Orlando Hernández Guillén, who in his welcoming remarks highlighted the importance of the presence here of the large business delegation, organized by the Quebec Ministry of Economy, Science and Innovation and composed of representatives of 46 companies from the food and agriculture, livestock, construction materials, hospitality, renewable energy, surveillance and protection systems, hygiene and beauty products, and services for environmental protection, among others. Hernández Guillén recalled that Canada is the fourth global trade economic partner of Cuba (behind China, Venezuela and Spain), one of the main destinations of Cuba's exports in products such as nickel, cigars, rum, scrap and metals, the main source of tourists to the island, as well as the eighth supplier of products such as wheat, sulfur, peas, poultry and copper cables; and made available to Canadian entrepreneurs the institution services to support them be inserted in the Cuban market. Meanwhile, Nancy Lussier said the positive response of companies in Quebec to the call to participate in this mission, shows the interest in establishing trade links with Cuba. At the forum opening, the prime minister highlighted the Quebec development in different economic sectors such as the environment, renewable energy and medical-pharmaceutical industry, and urged to work together, essentially these sectors, by the experience that both sides have, in order to achieve mutually beneficial results. Philippe Couillard said that while existing Quebec companies working with Cuban entities and nationals of that country represent nearly 40 % of Canadian tourism to Cuba, there are many possibilities for mutually beneficial cooperation, based on respect and friendship. 28 Cuba FOREIGN TRADE No. 3/2016

29 Events Philippe Couillard showed their interest in strengthening economic ties with Cuba. Instant of the business forum / JORGE CAMARERO LEIVA Malmierca and Minister Christine St- Pierre exchange the documents signed between their ministries Minister Malmierca said Canada is the second country with the largest number of businesses constituted with foreign capital in Cuba in the sectors of energy, mining and tourism, and stressed that the meeting offers a valuable opportunity to become familiar with the Cuban market, to establish business and potential investments. He also said that this visit will contribute to business relations development in areas such as research, innovation, education, science, culture, energy, environment, agriculture and tourism. In a ceremony held during the business meeting, the parties signed the Joint Declaration between the Ministry of Foreign Affairs and Francophony of Quebec and the Ministry of Foreign Trade and Investment of Cuba; a bilateral agreement for the first phase of the collaboration project between the Quebec Institute of Hospitality and Tourism, the Cuban Ministry of Tourism and the National Tourism Training System (Formatur for its acronym in Spanish); and another document that establishes the implementation of brain mapping project The Quebec Prime Minister during the meeting with Cuban Foreign Minister 29 Cuba FOREIGN TRADE No. 3/2016

30 Events Couillard stressed that their province entrepreneurs want to deepen economic ties with Cuba. Here, with Minister Malmierca between the Office of the Chief Scientist Canadian and Cuban enterprise BioCubaFarma. The MINCEX General Director of Foreign Investment, Déborah Rivas, made a presentation on the legal framework and Investment Opportunities Portfolio in Cuba, and Celia Labora, Director of International Relations of the Chamber of Commerce, spoke about how access to the Cuban market, presentations received with great interest by visiting entrepreneurs. Culminated the forum plenary session the kicked off bilateral meetings between Quebecers and Cuban entrepreneurs belonging to a total of 47 enterprises and organizations on the island, including CIGB, Heber Biotec, Datys, Procuba, Energoimport, Gaviota, Instituto Finlay, Labiofam, Gran Caribe, Mintur, Cubanacán, Caracol, Mindus, Medicuba and Islazul, and during which were identified Quebec companies interests to export their products to Cuba and exchanged about possibilities of joint ventures in the agri-food and tourism sectors. Prior to the visit to Cuba of forum of Quebec premier and its large delegation, just as part of preparations, on September 2 was held in Montreal a seminar on business in Cuba, with the presence of the Minister Christine St-Pierre, who expressed the interest of Quebecers authorities to increase the ties of friendship and cooperation with Cuba. The event, organized by the Ministry of Economy, Science and Innovation Quebec (Meci) and the Chamber of Commerce and Industry Cuba-Canada (CCICC), was opened by the Assistant Deputy Minister of Foreign Trade of that province, Jean Séguin, and the same was attended by officials from both institutions and representatives of companies that have a long working experience in Cuba. Exposed presentations were aimed at explaining the rules and procedures for starting businesses in Cuba, with information of vital interest to trade mission members. At the end of the visit to Cuba of the official and business delegation headed by the premier of Quebec, on September 16, the Minister Christine St-Pierre said that were identified various fields of cooperation, such as food, scientific, cultural, and in relation to the latter said in a meeting with Cuban Culture Minister Abel Prieto, were discussed several possibilities. On the economic agenda of the visit, the Quebec minister highlighted the importance of the signed agreements and announced that was presented to the island government the possibility of offering ten scholarships with exemption from tuition fees for Cubans who wish to pursue university studies in Quebec, where a foreign student must pay for these rights around $ 15,000. St-Pierre finally expressed her satisfaction with the visit, on which prevailed a climate of confidence, and said that the effects of the US blockade on Cuba is not an impediment to Quebec and the Caribbean nation expand a little more bilateral ties. During the mission, in addition to business meetings with counterparts and Cuban authorities, Quebec entrepreneurs visited joint ventures and toured the Mariel Special Development Zone. Sources: Granma, Options and RHC Pleased, Minister Christine St- Pierre said that various areas of collaboration were identified / RHC 30 Cuba FOREIGN TRADE No. 3/2016

31 Events Mohammad Javad Zarif said his nation could be for Cuba a commercial bridge facing the Middle East The first leaders discussed mutual cooperation state / ISMAEL FRANCISCO The Hotel Nacional hosted on August 22 the Cuba-Iran Business Forum attended by Iranian businessmen from more than 60 companies in the sectors of medicine and medical equipment, pharmaceutical, cosmetics, food, packaging, construction, oil and petrochemical, renewable energy, marine, transportation, sanitation, industry, mining and information technology and communications; and the by Caribbean nation attended 62 entrepreneurs from these sectors themselves. Chaired by the Minister of Foreign Affairs of the Islamic Republic of Iran, Mohammad Javad Zarif, and the Foreign Trade and Investment Minister of Cuba, Rodrigo Malmierca, the meeting reviewed the common possibilities precisely at a time when Iran has expressed interest in increasing its links with Latin America and particularly with nations like Cuba, with which it has maintained a fluid political, diplomatic and economic dialogue. The agenda, organized by the Chamber of Commerce of the Republic of Cuba, included a plenary session where the vice president Odalys Seijo welcomed visitors and highlighted the existing arrangements for trade, with particular reference to the Mariel Special Development Zone potential. Then took the floor the ministers of Foreign Affairs of the Islamic Republic of Iran, Mohammad Javad Zarif and Foreign Trade and Investment of the Republic of Cuba, Rodrigo Malmierca. Javad Zarif stressed the political coincidences between Tehran and Havana, and said his nation can be both for Cuba and for Latin Americans a commercial bridge facing the Middle East, while this island facilitate Tehran connection with this part of the world. Malmierca said for his part that this is an important step before the meeting of the Intergovernmental Commission on Cooperation to be held here coming January and invited them to participate in the Havana International Fair, main commercial event nationwide and in the Caribbean. In this framework was signed a Memorandum of Understanding between the Chambers of Commerce by the presidents of both institutions, with the main objective to strengthen the institutional work, contacting entrepreneurs with their counterparts, to identify and exchange business opportunities, promote participation in fairs and exhibitions, exchange business laws and generally facilitate the Signed memorandum of understanding with Iran 31 Cuba FOREIGN TRADE No. 3/2016 procedures associated to market access that will empower and diversify bilateral trade ties. Presentations of common interest to businesses in the represented sectors were performed. In the presentations, by officials of our Chamber of Commerce, were analyzed following issues: Doing business in Cuba, the Mariel Special Development Zone, and the main business being promoted. While the Chamber of Commerce, Industries, Mines and Agriculture of Iran stated Exploration Iran, Opportunities for Cooperation and the Central Bank of Iran gave an overview of the financial institution current status following the lifting of US sanctions on that country. The forum managed to approach Iranian businessmen participants to the Cuban market and the procedures for trade and invest in Cuba, while bilateral meetings allowed companies to identify their counterparts here and advance their integration into our market. In September arrived on an official visit Iranian President Hassan Rouhani, who held talks with his Cuban counterpart Raúl Castro. Both presided over the signing of an important agreement on health, research, education, medicine and medical technology, signed by the respective Ministers of Health. On the occasion Ricardo Cabrisas Ruiz, vice president of the Council of Ministers and Minister of Economy and Planning, met with Seyed Hasan Ghazizadeh Hashemi, Minister of Health and Medical Education of the Islamic Republic of Iran and cochair of the Intergovernmental Commission, who accompanied the President of his country to the Caribbean nation. The parties exchanged views on aspects of economic, financial, trade and investment between the two countries and agreed that it will be a turning point from this visit, mainly in the financial, pharmaceutical, biotechnology, agriculture, transportation, energy and tourism sectors, among others. In presence of both officials was signed a Memorandum of Understanding in the banking sector for bilateral debt regularization. Also were signed two framework agreements: one for biomedical cooperation and another for cooperation in bio-agriculture, veterinary development and research, and a Letter of Intent for joint production of pentavalent Cuban vaccine. In August, Vice President Ricardo Cabrisas made an official visit to Tehran, where he held fruitful meetings with the Iranian authorities. Analysts also recalled the visit to Tehran of representatives of three Cuban scientific institutions, with the aim of analyzing technology transfer and introduction of drugs in the Iranian market. Cuba and the Islamic Republic of Iran established diplomatic relations on August 8, 1979, characterized by friendship and mutual cooperation. Havana has opposed sanctions and unilateral coercive measures in all areas, including financial, imposed against that nation. Tehran, meanwhile, condemned the blockade the United States against Cuba.

32 Events President of our Chamber of Commerce visits Germany / INTERNET The president of the Chamber of Commerce of the Republic of Cuba, Orlando Hernández Guillén, made a working visit to Germany between June 1st. and 4, responding to an invitation extended by the Magdeburg Chamber of Industry and Commerce, Saxony-Anhalt Federal State. Hernández Guillén was received at the Berlin headquarters of the German Association of Industry and Trade Chambers, by directors of that institution and the Federal Ministry for Economy and Energy, with whom he reviewed the state of ongoing bilateral issues and future work prospects between these institutions. Our president was received as well at the headquarters of the aforementioned Magdeburg Chamber by Wolfgang März, CEO of the entity, and there also exchanged with Thomas Webel, Saxony-Anhalt Minister of Regional Development and Transport. During the meeting with both personalities, which took place in an cordial understanding atmosphere around the common objective that German business community knows investment opportunities that the island offers, was evident interest by knowing the Cuban reality and the will of promote and strengthen economic and trade links between Saxony- Anhalt and the largest of the Antilles. In the work schedule was the celebration of an entreprenurial and scientific institutions forum with the theme "Current situation of the economy of Cuba. Foreign Investment Law and Mariel Special Development Zone", event organized and sponsored by the Magdeburg Chamber of Industry and Commerce. On this respect he referred to the international economic situation and the island inclusion in such a scenario, as well as the updating of Cuban economic and social model. He offered a comprehensive explanation of the Law on Foreign Investment, the Portfolio Opportunities for Foreign Investment and the Mariel Special Development Zone, while commented on the negative effects of economic, commercial and financial blockade imposed by the United States to the Caribbean nation. The prospects for economic and trade relations between Germany and Cuba were also addressed in his presentation, which led to a broad and positive exchange with the participants, who were interested in knowing aspects of foreign investment in Cuba. Hernández Guillén visited industrial sites of interest in the region and attended as a special guest the celebrations for the 25th anniversary of the Magdeburg Innovation and Business Management Center and the start of the Summer Festival of Regional Economy. Also he was received by Lutz Trumper, mayor of the city of Magdeburg, with whom he discussed current issues in a friendly environment that showed the will to develop the links between Saxony-Anhalt and the largest of the Antilles. 32 Cuba FOREIGN TRADE No. 3/2016

33 Events Signed important agreements with Saudi Arabia / INTERNET Havana hosted on July 21 the signing ceremony of two new agreements with Saudi Arabia that lined up to boost infrastructure and trade, encourage export to the Island of products from that country and funding, with long-term loans, infrastructure works in the area of water resources. Rodrigo Malmierca, minister of Foreign Trade and Investment (MINCEX) and Ahmed M. Al-Ghannam, general director of the Saudi Exports Program Development Fund of that nation, signed the documents that allow progress in the bilateral exchange. Malmierca said that one of them will favor the importation into Cuba of Saudi products through revolving loans to five years, for an amount of approximately 50 million dollars, which enables new facilities for repayment to the extent that money is used. He also pointed out that the first contracts for agriculture equipment supply are already signed. The Cuban minister expressed his belief that such advantages contribute to the development of bilateral trade, and financing concerning to the Loan Agreement, granted under favorable conditions for its return, he said will be directed to the development of water supply and sanitation systems rehabilitation project in the city of Cardenas, Matanzas province. It was learned that the purpose of the credit, for an amount higher than $ 29 million dollars, is to ensure construction in this western territory of a new conductive and distribution networks and improve storm water drainage and the construction of a sewerage system and wastewater plant. Malmierca stressed that currently the Saudi Fund for Development analyzes new ideas for joint projects, thus the relations future is guaranteed. "More than the numbers, which are considerable, most important is the friendship that unites us and the desire to cooperate and share," said the Cuban minister. Al-Ghannam said for his part that his visit aims to consolidate economic ties between the two countries and stressed that the signing of five agreements in just six years, when began bilateral cooperation, shows the smooth implementation of the financing granted and the disposition of the Saudi Fund to work in strengthening ties with the island. Now only in the sector of water resources are four the signed agreements between Cuba and that Middle East country while now took shape the first in the trade field. Source: ACN and Cubadebate 33 Cuba FOREIGN TRADE 33 Cuba No. FOREIGN 3/2016 TRADE No. 3/2016

34 Events Vietnam promotes trade ties and fosters several investment projects Nguyen Chi Dung chaired the business delegation of the Indochinese country. Pictured with Rodrigo Malmierca / JORGE CAMARERO LEIVA Cuba and Vietnam agreed to intensify the experiences exchange in legal institutions improvement, economic models, catchment and management of foreign direct investments and tourism development, in agreements reached during the visit of Minister of Planning and Investment of Viet Nam, Nguyen Chi Dung. It was also signed by representatives of the Ministry of Planning and Investment of Vietnam and Mariel Special Development Zone authorities (ZEDM) a memorandum for cooperation in investment promotion in order to promote business between the two nations. Nguyen Chi Dung and Rodrigo Malmierca, Minister of Foreign Trade and Investment (MINCEX), co-chaired a Cuba-Vietnam Investment Symposium to identify business opportunities on the island, which was attended by dozens of entrepreneurs of the two countries and where both sides agreed to support each other in promoting investments and support their respective entreprenurial communities in conducting business; also the most important potential sectors for Cuba were highlighted. During the visit, from 13 to 15 September, visitors entrepreneurs, mainly in the sectors of tourism, industry, consumer goods production, maritime, construction, infrastructure, telecommunications, transportation and logistics services, showed much interest in doing mutually advantageous business. Both sides agreed that despite the high level reached, the trade is still limited and there is potential; hence the meeting encouraged the purpose of Hanoi and Havana to strengthen, deepen and consolidate increasingly historical economic and trade ties when it is so propitious an increase in mutual cooperation, in view of the business opportunities offered by Cuba today. Minister Nguyen Chi Dung told the meeting that despite the great geographical distance, it has maintained a close and historical relationship that every day is further expanded in the economy, health, education and diplomacy fields, among others, and referred to promotion and protection investment and on the prevention of double tax taxation agreements, signed in 1995 and 2002 respectively, that are fundamental to strengthening these ties. Vietnam, he said, has projects worth more than nine million dollars in Cuba, while Havana placed a total investment of 6.6 million dollars in the Indochinese country. On bilateral trade explained that it totaled $ 235 million dollars, and assessed that tourism cooperation, industry with potential in both countries, not yet satisfy the expectations. He said that the historical friendship between Cuba and his country is the fundamental basis for increased cooperation, and that although they have signed several agreements, the level of trade links can be increased, so that the Vietnamese government encourages enterprises and large companies to be set in the Cuban market. Minister Malmierca recognized that it is essential for both nations to work together to consolidate economic and social development and strengthen the excellent bilateral relations. He exalted the excellent momentum to strengthen bilateral relations and said that are negotiated various investments between both countries entities in prioritized national economy sectors as industry and the development of renewable energy sources, two strategic objectives for the country in medium and long term. Marked by the visit of Minister Chi Dung, he added, more projects were identified and were consolidated economic ties that accompanied by solidarity and commitment have prevailed all this time. Vice President of our Chamber of Commerce, Odalys Seijo, said for her part that Vietnam is the second largest trading partner of the island in Asia and Oceania, our main supplier of rice, and that the institution will continue to support all inter entreprenurial activities and concluding bilateral business. Do Viet Phuong, an official of the commercial office of the Embassy of Vietnam in Havana, announced that progresses at a technical level to later assess the approval of an energy project from use of sugarcane bagasse, and other in industrial branches intended for the production of diapers and detergent powder, while in tourism prefeasibility studies are specified for the construction of a five star hotel in Havana. "All -he said- with a significant impact to promote the flow of investments in the Cuban market, favorable to both parties." The diplomat praised Cuba's efforts to moving forward with implementation of the new Foreign Investment Law, national infrastructure and a skilled workforce, which benefit the realization of successful businesses to contribute to the local 34 Cuba FOREIGN TRADE No. 3/2016

35 INTERNET Events Nguyen Chi Dung said that the agreement on promotion and protection of investments and the one related to the prevention of double taxation are fundamental for the links strengthening economy. Every day, he said, the two countries are closer in the economy, education, health and diplomacy. Besides meeting with his counterpart Malmierca, Minister Nguyen Chi Dung held meetings with Vice President of the Council of Ministers and Minister of Economy and Planning, Ricardo Cabrisas, and the Tourism Minister Manuel Marrero. Before leaving, visitors executives and managers toured the Mariel Special Development Zone. Hanoi had previously hosted on August 30 a Vietnam- Cuba promotion investment seminar, in order to enhance cooperation and investment between the two countries. According to Dang Xuan Quang, deputy chief of the Foreign Investment Department of the Ministry of Planning and Investment of that nation, the two countries have not yet exploited their full potential. Vietnam has a unique investment project in Cuba of 9.5 billion dong, while Cuba has two in Vietnam. He noted at the meeting that therefore this was an opportunity to reverse this situation, with information exchange, policies and difficulties latent in the mechanisms. Vu Quoc Huy, representative of Management of Economic Zones Department of the Ministry of Planning and Investment, shared experiences on the creation and development of these platforms in Vietnam, said that to date operate 329 foreign direct investment projects with a capital of billion dollars, and nearly a thousand Vietnamese projects combining 784,000 billion dong. In this regard, the General Director of the Mariel Special Development Zone Office, Ana Teresa Igarza mentioned logistics services, biotechnology, pharmaceuticals, food production and packaging, construction materials and items of household consumption, between major development sectors with foreign capital on the island. Cuba and Vietnam accumulate more than 55 years of historical links that have been expanding increasingly, with the collaboration of the Indochinese country to economic development in the Caribbean nation not only through direct imports but also through the promotion and development of the food security program and donations. Sources: Granma, Options and RHC 35 Cuba FOREIGN TRADE No. 3/2016

36 Events Signed with Colombia trade deepening agreement In the framework of the World Economic Forum (WEF) in Latin America, after two days of meetings concluded its work on June 17 in the city of Medellin, was signed by Rodrigo Malmierca, Minister of Foreign Trade and Investment and Maria Claudia Lacouture, Minister of Commerce, Industry and Tourism of Colombia, a trade deepening agreement between Cuba and Colombia that seeks to promote tariffs elimination and trade facilitation, allowing 89 % of Colombian products enter to the Caribbean country with zero tariffs. From this agreement, to the 2,032 products that today Colombia exports to Cuba with some tariff preference under an economic complementation agreement in force since 2001 are added other 2,518 products that are part of this trade deepening. This new agreement includes among other products, meat, cocoa, oil seeds, coffee preparations, fruit and fish, as well as textiles and clothing, automotive, soaps and cosmetics, leather, home appliances, footwear, toys, steel products and construction materials. "We are in a process of achieving growth through internationalization for our entrepreneurs and this agreement adds to the trade agreements that Colombia has signed to generate those tools," said Minister Lacouture. According to the statement by the ministers, Colombia hopes to offer with this a good opportunity for many Colombians who work with agricultural products, in construction, textiles and clothing and to internationalize their enterprises, while seeking to integrate better with Cuba and access to a wider range of Cuban goods. The Nariño Palace statement said that Colombia can supply to Cuba products that the island acquires in other markets such as fuels, cereals, machinery, dairy products, fertilizers, household appliances and domestic gas. Colombia's exports to Cuba in 2015 totaled 39 million dollars, of which 91% were goods like plastics, ceramics, machinery, bakery products, pharmaceuticals and sinks While the trade balance favors Colombia broadly, this agreement, plus one next between ProColombia and Procuba, seeks to encourage all economic activities between the parties. Source: CubaDebate INTERNET Cuban Trade Arbitration praised at international conference Mr. Alexis Mourre, president of the International Court of Arbitration in Paris, praised Cuba's performance in this legal matter, alternative method of dispute resolution par excellence, and the existing potential for economic and trade growth on this island. Speaking on August 26 at the International Conference on Arbitration, which was held at the Meliá Habana Hotel, Mourre called the global business community to maintain support for Cuba, which suffers the restrictions of the economic, commercial and financial blockade imposed by the United States. He considered the resumption of regular flights between the two countries as a positive step to strengthen bilateral relations and highlighted the work of Cuban professionals in conflict resolution in trade matters and similar procedures. Previously the president of the Cuban Court of International Trade Arbitration, Dr. Rodolfo Dávalos, welcomed lawyers, corporate advisors, arbiters, academics and officials of this sector from various countries and regions. The meeting, held in the context of the 50 years of the Cuban Court of International Trade Arbitration, had among its primary objectives identify developments in the national legal rules, which are related to the regulation of economic openness, foreign investment contracts in the archipelago, as well as offering an academic and practical perspective of international arbitration, with a special focus on Cuba. These were some of the themes analyzed: the urgent measures and emergency arbitrator; complex arbitrations: consolidation, incorporation of additional parts; efficient conduct of the arbitration proceedings, and recent experience in reviewing arbitration awards. Sources: ProCuba and PL 36 Cuba FOREIGN TRADE No. 3/2016

37 Current Business Situation / INTERNET CIGB 30th anniversary / INTERNET Three decades celebrated recently the Center for Genetic Engineering and Biotechnology (CIGB for its acronym in Spanish), an institution of BioCubaFarma entreprenurial group that at the end of 2015 had submitted 1,130 patents applications abroad and today has more than 200 health registers in 34 nations. Closing the commemorative event, the Cuban first vice president, Miguel Díaz-Canel Bermúdez, welcomed the plans of the important scientific institution, that encompass human and veterinary vaccines, recombinant proteins for therapeutic use, synthetic peptides, monoclonal antibodies, systems for diagnostics, as well as plant biotechnology and aquaculture. The Center, he said, "has an integral role in the field of Cuban biotechnology, hence achievements are the result of years of study, commitment, integrity and collective effort." Diaz-Canel also said which is endowed with state-of-the-art equipment, with important production capacities and superb personnel, engaged in the development of new products for the treatment of a group of diseases, including cancer (kidney, CIGB bladder and most recently the skin), chronic hepatitis B and C, meningitis, myocardial infarction and diabetic foot ulcer with famed Heberprot-P, a drug that facilitates healing of these ulcers and reduces by 78 % the risk of amputation, which has benefited over Cubans and in general about patients from Argentina, Venezuela, Ecuador, Colombia, Turkey, Ukraine, Vietnam and Russia, among other countries. In fact, the incorporation of Heberprot-P in the list of essential and vital medicines in Russia has produced an increase in their use internationally. In tribute, the Workers' Central Union of Cuba gave the Center its 75th Anniversary stamp for their direct contribution to the island economic and social development, and was recognized the work of the six founders of Cuban biotechnology, which were trained by Professor Kari Kantell, renowned Finnish scientist, to produce interferon. Also in the morning was canceled a commemorative postage stamp. 37 Cuba FOREIGN TRADE No. 3/2016 Heberprot-P recently obtained a license that allows clinical evaluation in the United States / ROBERTO MOREJÓN The director Eulogio Pimentel Vázquez, gave Miguel Díaz- Canel special recognitions for Fidel and Raúl / ROBERTO SUÁREZ Innumerable and notable have been successes and results of CIGB collective that impact on human and animal health, agriculture and the environment. Founded on July 1986 by Fidel Castro, this scientific institution today exhibits more than 50 research and development projects, and among the most innovative lines, besides the above-named, is the HeberNasvac for the treatment of chronic hepatitis B which primarily administered by nasal and subcutaneous routes, exerts more antiviral efficacy than existing treatments with fewer adverse reactions. Another is the Proctokinasa, with proven effectiveness to combat acute hemorrhoids. In the form of suppositories eliminates the thrombi and micro thrombi present in this inflammatory process, avoids thrombectomy and other invasive procedures (surgical and endoscopic) in thrombosed hemorrhoids and ensures rapid return of patients to work and daily activities. While the diagnostic test for pregnancy HeberFast Maternitest Line II provides accessibility to Cuban childbearing age women to a comfortable and quick method to get a reliable result about pregnancy. In the agricultural area, the CIGB has commercialization agreements with Venezuela, Panama, Nicaragua, Brazil and Mexico for Gavac vaccine, product for the control of ticks that affect cattle survival. Also stands a new vaccine against classical swine fever, with special permission for controlled field trials in 2016, which is not replicative, confers early protection against this disease and removes horizontal and vertical transmission (unique condition in the world). This writing just reflects the important work of the flagship institution of Cuban biotechnology that currently, with about workers, it is a world class great productive scientific complex. Sources: PL, Bohemia and Juventud Rebelde

38 Current Business Situation The Minister Salvador Pardo Cruz visits the exhibition / CALIXTO M. LLANES Cubaindustria 2016 to encourage industrial development and foreign investment By opening the doors of the II International Convention and Exposition Cubaindustria 2016, the minister and president of the Organizing Committee, Salvador Pardo Cruz, stressed the importance of the event, designed to promote the exports development, import substitution and promote transfer technology and managerial skills, as well as generating employment and sources of financing. The Minister of Industries (Mindus for its acronym in Spanish) said that the event overflowed the organizers and participants expectations, noting that the high turnout of specialists, researchers, entrepreneurs and other professionals related to the industry of nearly 30 nations is the result of collaboration and work relations that today Cuba maintains with a group of major countries. Explained his consideration that this event is achieving the space it should occupy as fair that helps to promote the country economic development, and in connection with the United Nations Industrial Development Organization (UNIDO), which celebrated in this event 50 years of its Cubaindustria creation, Pardo Cruz said that last December was signed the Country Programme that about 50 million euros to run over several years various projects in the fields of renewable energy, industrial policy and environmental protection. In the meeting, which was held in Havana from 20 to 24 June, were exposed Cuban alternatives for the strategic economy sectors development until 2030 and light, metallurgy and chemistry industries, manufacturing equipment for bigger and more efficient use of renewable energy sources as well as electronics applied to domestic, medical and industrial equipment. More than delegates attended representing the Cuban industry (including military industry, construction materials and food), more than 600 specialists from 29 countries, and for the first time participated US entrepreneurs representing the Washington Hispanic Chamber of Commerce. Angela Franco, its president and leading the group of 23 visiting entrepreneurs, explained that this entity, constituted more than 40 years ago, supports its partners -the most Spanish-speaking entrepreneurs who have had for some time an industrial development- on growth businesses in the Washington metropolitan area, basically. In this third visit to Cuba to explore the business opportunities offered by the largest of the Antilles, Mrs. Franco was accompanied by entrepreneurs of technology, consulting, human resources, construction and other sectors, who presented and talked at the fair with Cuban and other nations counterparts and met with industry executives. Adriana Barceló, vice president of the Organizing Committee, meanwhile made mention of the negotiations progress with Russia for the trucks and railway equipment production, while with China progresses the assembly of Yutong bus and electric scooters and cycles. With the Asian giant also thrived talks to a plant producing aluminum beverage containers in the Mariel Special Development Zone (ZEDM for its acronym in Spanish) and several projects between the Chinese company Haier and Electronics Group, said the official. Mindus authorities reported that agreements with Chinese and Russian investors were in favor of transport, iron and steel industry, household appliances and other consumer goods production, and UNIDO directives explained that will implement an industrial modernization project to make fertilizers and agricultural machinery. Experts, observers involved in the subject and participants agreed that the meeting left the country a surplus, which is very encouraging when technicians recognize that in many branches of the national economy, the Cuban industry presents technological obsolescence and high energy consumption, issues that limit their performance. So was inserted in that context and with the aim to address the problems that met Cubaindustria 2016, during which were signed agreements, letters of intent and memoranda of understanding between national and foreign companies, excelling those signed with entities of Russia, China, Italy and Portugal, among other countries. As part of the event were made 11 parallel congresses, where exhibitors and other attendees reflected on issues related to renewable energy, production and use of packaging, recycling, steel, air conditioning and refrigeration. In addition were performed presentations of projects linked to the ZEDM and negotiations related to various topics, such as the fashion, furniture and environments and styles industry, among others. For example, was presented a plan to 38 Cuba FOREIGN TRADE No. 3/2016

39 Current Business Situation It is an event to promote the development of exports and import substitution promote value chains in the national music industry with the support of UNIDO. Also was made an international design forum and a round of business linked to the chemical industry, to strengthen ties with foreign companies. Parallel to the theoretical debates in the Palacio de Convenciones, where different congresses occurred, the PABEXPO fairground hosted exhibitions of machinery, parts, components and innovative technologies. The appointment instilled hope and optimism, and also called for necessary reflections on how to achieve the intended and necessary efficacy, and the need to change old mentalities to encourage the fullest extent possible a larger number of activities in an international arena increasingly specialized and competitive. The event undoubtedly contributed to the development of national industry by strengthening partnerships, business commitments and productive technology partnerships with various countries. In his closing remarks, in a ceremony presided over by Rodrigo Malmierca, Minister of Foreign Trade and Investment Cubaindustria (MINCEX), and the Mindus minister, Industrial Management Director of the ministry, Adriana Barceló Permuy, said that at entreprenurial level were signed a total of 19 documents, including the contract between the company BK Import of Cuba and Codil of Portugal, for injection molding machines purchase for the production of plastic containers, as well as an agreement in order to create a joint venture between CAISA (Cuba) and Yutong (China). She also highlighted the development of joint projects for intelligent lighting, buildings automation, among others, agreed by CEDAI (Cuba) and Haier (China). In the appointment -she explained- was also signed the action plan for the implementation of the memorandum of understanding between Mindus and the China Ministry of Industry and Information Technology, and were recognized in a special way scientific-technical and economic-commercial relations with Russia, she added. During the event was presented the brand Gabi & Sofi, designed for children and promoted by the Non Agricultural Cooperative Decorarte, based in Varadero, specialized in advertising and graphic and industrial design for decoration and interior design, which aims with this new brand customize all object or garment that may require a child, from furniture to clothing and toys, designed for educational purposes and completely unrelated to the notions of violence that stimulates contemporary society. 39 Cuba FOREIGN TRADE No. 3/2016 Attended by specialists from 29 countries / YOAIMA RODRÍGUEZ MARIN In the words of Ariel Balmaseda, president of the cooperative, Gabi & Sofi arose from the need of the Ministry of Tourism to generate children's products in Varadero, and intends to encourage in children values such as love of family, homeland, nature, morals and the arts. In his opinion, this brand is already suitable for be internationalized. The grand prize Cubaindustria 2016 corresponded to the Second Packaging International Congress, and regarding to quality the jury awarded 15 prizes (among which excelled the delivered to the Chinese company Yutong), chosen from among 44 products submitted by exhibitors from six nations. In the design category 37 products from five countries were evaluated and six were awarded. They were also distinguished several theoretical meetings and presentations among those conducted in parallel with the exhibition fair. Russia, with a large state delegation and more than 50 entrepreneurs, was the guest of honor and therefore was subject to a comprehensive program of activities that included a business forum and agreements and joint documents signing. Sources: Bohemia, Options, Granma and RHC

40 Current Business Situation / INTERNET / INTERNET Cuba announced on August 3 that as a result of a tender to which 20 corporations were presented and demonstration of the interest that large French companies have for doing business on the island, Gallic companies Bouygues Construction and Airports Paris were chosen to undertake the expansion, modernization and management of Havana José Martí International Airport. The first has Aeropuerto extensive construction experience in our country and the second is a prestigious operating entity, which manages airports in France and other countries. According to Eduardo Rodriguez Dávila, vice minister of the Cuban Transport Ministry, the project foresees the financing and implementation of immediate actions to improve the services quality as well as investments in the medium and long term in line with the increase in the passengers arrival José Martí from abroad and that is expected in the next years, so he said, new alternatives will be evaluated to obtain financing and best international practices. For example, from United States and after the agreement with Cuba for the resumption of commercial flights, at least eight airlines of that nation were authorized to undertake operations, which began late August. The Cuban Transport Ministry stressed that the engineering giant Bouygues Construction and Airports Paris will develop under concession modality works and management of the Havana international terminal. In addition to that airport, with five terminals and receives more than 50% of foreign visitors coming to the island (3.5 million in 2015), the plan Cubana Airlines and Air Caraibes agreed to exploit jointly both companies flights Agreements with France on José Martí Airport and civil aviation includes the San Antonio de los Baños airfield, in the west of the Cuban capital. Later that kind of alliances will include other airports. On July 29, Foreign Trade and Investment Minister, Rodrigo Malmierca, had signed in Havana with that country s ambassador, Jean-Marie Bruno, the agreement for opening an Agency French Development (AFD) office, which will finance projects considered a priority by both parties, with long-term preferential loans. We are already working with the agency in identifying projects in different infrastructure sectors that are very important for Cuba and where the aid, the French cooperation, not only come through the Agency but also through the presence of French companies who have the technological ability to work with us, Malmierca said. French Ambassador Jean-Marie Bruno announced that his country will invest in development projects covering, among other areas, renewable energy, sustainable tourism, urban development, transportation and food and agriculture. Financing will come from a fund of 231 million euros created from the renegotiation of the Cuban external debt with France. Signed another agreement on aviation On September 20 and during the touristic professional exhibition Top Resa held in France, Cubana Airlines and Air Caraibes signed an agreement to exploit jointly both companies flights, which according to the Cubana office director in Paris, Lourdes Hermelo, will promote a significant increase in the frequency of connections between Europe and the Caribbean island nation. It will also help to give passengers more options for their stay in Cuba, with more frequent travels from Paris to Havana and Santiago de Cuba, said Hermelo, adding that the pact is the result of the agreement signed in April between the Directorate General of French Civil Aviation and the Civil Aeronautics Institute of Cuba. The Air Caraibes executive chairman, Marc Rochet, said on the agreement that will further strengthen ties between two nations united by a cultural, historical and friendly relationship. France is the tenth economic partner of Cuba and about twenty of its companies are represented on the island, of which around 10 have investments in tourism, construction and other activities. Relations between Havana and Paris experienced a greater rapprochement after the presidential visits of François Hollande to Havana in May 2015, and Raúl Castro to Paris in February this Sources: CubaSi, PL and ACN 40 Cuba FOREIGN TRADE No. 3/2016

41 Current Business Situation First International Food Fair / INTERNET The Food, Equipment and Technology International Fair, Alimentos Cuba 2016, led by the fairgrounds PABEXPO of Business Group Palco, with the assistance of the International Fair of Barcelona (Fira, an organization of high commercial appeal and world renowned in this field), was officially opened by María del Carmen Concepción González, head of the Ministry of Food Industry (Minal for its acronym in Spanish) and Abraham Maciques, director of Palco Group, who said the goal of the meeting is that domestic industries and foreign companies achieve cooperated productions signifying an important advance in Cuba economic development. Feria Internacional de Alimentos "We believe this is a very important step that will lead to the development and profits of both countries," added Maciques opening the event doors, also chaired by Ricard Zapatero, director of Fira, and Orlando Hernández Guillén, president of our Chamber of Commerce. Concepción González explained that the essence and purpose that this event brings to the Cuban entrepreneurs is to obtain the best experiences in the production of safe, healthy and nutritious food. "The goal is to promote new business opportunities that allow further strengthen the dynamic role that play today the Cuban manufacturing industry producing food and beverage. This is an important movement in the long way to make Cuban industry into a reference industry for the present and the future", she said. For his part, Zapatero said that the fair aims to be the mirror of one of the most dynamic sectors of any country: food. Through the kitchen, food and foodstuffs we can know better, join, and create new cultural and social ties. But this is not just a cultural space, is also an area that favors progress Concepción accompanied by Orlando Hernández Guillén, president of our Chamber of Commerce, and other executives, dialogue with exhibitors / JORGE CAMARERO LEIVA and economic development, he said. "We want that Havana will be a meeting center of all the Caribbean countries and the world, to help that Cuba will become the international capital of all fairs". This first edition offered new business opportunities for companies, both local and foreign, seeking to expand its market in the island, and covered a wide variety of products and services related to the food and beverages sector. Representatives of some 100 exhibiting companies from 10 countries, among them Spain, Italy, Netherlands, United States, El Salvador, Guatemala, Mexico, Panama, Dominican Republic and Cuba, together with Cuban government agencies and institutions in charge of import and export, found an ideal place to exchange in its own professional environment. In Alimentos Cuba were exhibited from machinery, equipment and food technology, to meat and derivatives; canned and semi-; wines and spirits; water, soft drinks, beers, musts and ciders; olive and vegetables oil; through fruits and vegetables; dairy products and derivatives; sweets, biscuits and confectionery; seafood, frozen, aquaculture and fish farm. Fira Barcelona, which takes about 80 fairs a year in that province of northeastern Spain, of which some 15 of European character, has a strategy of international development and expansion which goes beyond and that has led to organize events in countries like Qatar and now in Cuba, where his strategy coincides with the local interest in finding new suppliers. In the view of many exhibitors and visitors, this event proved the validity of an initiative that may well be regularized with annual editions. 41 Cuba FOREIGN TRADE No. 3/2016

42 Current Business Situation / INTERNET Summit on energy and infrastructure in Cuba The Renewable Energy Director at the Ministry of Energy and Mines of the island, Rosell Guerra, said that there is a coherent policy on the matter / ISMARIO RODRÍGUEZ The forum, held in early September to release the investment potential of this insular country that is endeavoring to change its energy matrix as from technological and social criteria and was sponsored by the IJ Global, New Energy Events LLC and Cuban entities Electrical Union, Chamber of Commerce of the Republic of Cuba and the Center for the Study of Renewable Energy Technologies (Ceter for its acronym in Spanish), with the support of the ministries of Foreign Trade and Investment, Tourism, Agriculture and Business Group Azcuba, was attended by 73 local experts from more than 20 bodies from the sector and attracted experts and investors from 14 countries in Latin Matthew Perks, CEO of New Energy Events LLC, thanked the scope of the meeting / ISMARIO RODRÍGUEZ America and Europe (Germany, Costa Rica, Canada, USA, UK, France, Netherlands, Cayman Islands, Mexico, Nicaragua, Puerto Rico, Panama and the Czech Republic). Several speakers explained to visitors particularities of the national energy system and that between its immediate objectives Cuba has to increase energy independence, reduce costs and increase supply security. Rosell Guerra, Renewable Energy Director, Ministry of Energy and Mines, stated the nation panorama, investment facilities in different fields and said that the island is committed to sustainable development and has an appropriate policy for the advancement of these alternative energy sources when energy efficiency is a priority. He said that in all economy sectors and the population is the purpose to reduce greenhouse gases emissions, corresponding to the commitments made by Cuba in international agreements on climate change. This nation, he explained, aims by 2030 to achieve a 24 % share of renewable energy sources in electricity production, which currently stands at just over 4 %. The island has a rich potential of these essential sources such as solar radiation throughout the year that allows the application of photovoltaic and thermal technologies, along with a growing sugarcane production. The latter enables the most efficient use of residual sugar cane bagasse as fuel, complemented by the development of forest biomass and waste use of agricultural crops. He also mentioned the significant wind potential of the archipelago, especially in its eastern region, and a small hydroelectric contribution, together with other sources such as biogas from animal excreta and solid waste. The directive said that from the identified potential, investment program is broad, because Cuba must install in the coming years over megawatts from renewable resources technologies. In this plan are included 755 megawatt en bioelectric centrals of sugarcane biomass, 700 in solar farms and 633 in wind farms, which together with other investments ensure the desired change in the energy matrix. Sources: PL and CubaDebate 42 Cuba FOREIGN TRADE No. 3/2016

43 Current Business Situation Business Committee strengthens economic ties with Italy until 2017 The fifth session of Cuba-Italy Business Committee met on September 19 at the headquarters of Foreign Trade Institute of Italy, with high expectations and a broad agenda: to examine how much has been done in 2016, prospects for 2017 and generally analyze the state of trade ties between the two nations and opportunities for Italians entrepreneurs to invest in the island. The opening session was attended by Rodrigo Malmierca, Cuban Minister of Foreign Trade and Investment (MINCEX) and the Italian Economic Development Minister Carlo Calenda. Malmierca had come to Rome from Holland, where he exchanged with authorities there about the good state of bilateral economic relations and promoted business opportunities in Cuba before the corporate sector. The session of the Committee was attended by over a hundred representatives of Italian companies and institutions with businesses on the island or interested in establish relations with this country, and a Cuban delegation headed by our Chamber of Commerce President, Orlando Hernández Guillén, and which were represented the agro-food, tourism, health, computer, industrial and financial sectors. Also attended the Ambassador to the Italian state, Alba Soto; the president of Cuba section in Business Committee, Ivonne Grass, and presidents of Padua Chamber of Commerce, Fernando Zilio, and Italian section of the Committee, Dino Bombardelli. As from September 20 Minister Malmierca continued his working visit during which he met with executives of Italian institutions and international organizations, including the United Nations Food and Agriculture Organization (FAO) and the World Food Programme (WFP), and was received by the International Fund for Agricultural Development (IFAD) President, financial institution of the United Nations Organization. He also had meetings with the vice president for internationalization of the business organization Confindustria, and Italian businessmen. Sources: PL and Juventud Rebelde. Photos: cici.org 43 Cuba FOREIGN TRADE No. 3/2016

44 Current Business Situation Trade mission visiting Guatemala and Costa Rica Members of the delegation / INTERNET Cuban delegation traveled to Guatemala and Costa A Rica from 7 to 14 July to establish the foundations to expand mutual trade relations, to show the possibilities of doing business, exporting and investing in the island, and also promote the Havana International Fair. The Cuban mission was composed of José Govea, specialist in the Latin America and the Caribbean Direction of the Ministry of Foreign Trade and Investment (MINCEX), Niurka Marsán, specialist of Promoter Investment Group (GPI for its acronym in Spanish) of the Chamber of Commerce of the Republic of Cuba. They held meetings with Cristian E. Mayorga, commercial director of the Chamber of Commerce of Guatemala, as well as with directors of the Chamber of Commerce, the Chamber of Industry, the Export Chamber, the National Institute of Tourism and individual entrepreneurs, to explore the possibility of doing business, export and invest in Cuba. The Tourism Minister expressed his desire to bring about a rapprochement in the field of eco-tourism, health and multi destination as well as tourism and incentive events. They intend that of Cubana de Aviación flights will retake, on a weekly basis. In all meetings was presented the current Cuban economic situation and the priorities of foreign investment, and the Banco Hipotecario de Guatemala representants were interested in identifying mechanisms to finance exports and imports of Guatemalan companies to Cuba and encourage visits to Guatemala by representatives of the Cuban banking system. Also was held a meeting with more than 100 Guatemalan entrepreneurs, where were welcomed by the president of the Chamber of Commerce of Guatemala, Jorge Briz Abularach. They were made presentations on current events of the Cuban economy, the Foreign Investment Law, its regulations and attractive, and Investment Opportunities Portfolio. The country s main newspaper, Prensa Libre, published an article titled Businessmen go after Cuba, which highlighted the presence of our delegation and the meetings held. Cuba announced in June its decision to upgrade and expand its relations with Guatemala, involving not only trade and industry but also tourism, culture and investment. In Costa Rica, José Govea and Niurka Marsán met with executives from PROCOMER and more than 50 entrepreneurs from various sectors and potential investors, which were presented the opportunities portfolio and other projects being undertaken by Cuba for its economic development. Cuban specialists participated in the event Proposal for the competitiveness of the industrial sector, organized by the Chamber of Industries of Costa Rica and with the participation of Luis Guillermo Solís Rivera, President of the Republic and who used the word in the opening ceremony; President of the Chamber of Industries of Costa Rica, Enrique Egloff; the president of Banco de Costa Rica, Paola Mora and José Manuel Xirinachs Salazar, director for Latin America and the Caribbean of the International Labor Organization (ILO). As in Guatemala, Costa Rica also were fulfilled the objectives of comprehensively promote the foreign investment opportunities projects Portfolio and Cuban economic present situation. Sources: Cubaminrex, RHC and PL 44 Cuba FOREIGN TRADE No. 3/2016

45 The Chamber today With an eye on tourism businesses and in general in order to identify new opportunities for trade and investment between the two countries, representatives of Cuba and the Bahamas celebrated a business forum on 18 and 19 July in Havana. According to Edison L. Sumner, executive director of The Bahamas Chamber of Commerce and Confederation of Employees, existing agreements between the chambers of commerce of the two countries allow the exchange of goods and services and encourage capital injection for specific works. We are interested to know he stated the opportunities to invest in Cuba and which enterprises in this country can undertake similar initiatives in the Commonwealth of the Bahamas. Also he referred to the favorable balance of cooperation in education and health, and reported that they are interested in expanding eye care services with Cuban professionals. The Bahamian official showed interest in taking advantage of the largest of the Antilles experience in the restoration and conservation of the built heritage, which would benefit rehabilitation of historic areas plans in Nassau, the capital of the archipelago of 700 islands and islets and nearly 2,400 cays and rocks that extend over km from the southeastern tip of Palm Beach in Florida, USA, to a tip of the eastern end of Cuba. The Bahamas, he said, could contribute with their knowledge in the beaches conservation, a matter of common interest / INTERNET Businesses identify in entreprenurial forum with Bahamas for the sustainable development, ecosystems care and the booming tourism industry. Agricultural, manufacturing, audiovisual creations and renewable energy branches, could contribute to the progress of bilateral economic ties, he said. Sumner also ratified the interest of entrepreneurs from his country to boost trade relations between the two countries and their experiences in both directions, in relation to small and medium enterprises. Meanwhile Celia Labora, International Relations Director of our Chamber of Commerce, stressed that The Bahamas is our fourth largest trading partner in the Caribbean, but the potential is much greater. In the last three years the bilateral trade was below one million dollars annually, with favorable balance for Cuba, she said, who also noted that among other purposes is expected search for multi destination offers within the Caribbean to strengthen air and maritime connection between the various territories of the area, which will contribute to the trade rise and provide sources of joint ventures for both nations. As part of its mission in Havana, the Bahamian delegation spoke with executives from various entities, including Inversiones Gamma enterprise, specialized in beaches recovery, and whose operations include several Caribbean nations. Sources: ACN and PL / INTERNET / INTERNET Chamber of Commerce signs agreement with its counterpart in Curacao The Chambers of Commerce of Cuba and Curacao established an agreement to promote bilateral economic ties, as part of the common purpose of promoting Caribbean integration. The document was signed on June 9 during a business forum, whose inauguration was attended by Curacao Minister of Economic Development, Eugene Philip Rhuggenath, and Cuban deputy minister of Foreign Trade and Investment (MINCEX) Ileana Núñez. According to Rhuggenath, there are favorable conditions to boost economic ties in areas such as energy, telecommunications, shipping, logistics and manufacturing. For Billy Jonckheer, president of the Chamber of Commerce and Industry of Curacao, the pact expressed interest in supporting the exchange of information, business forums and participation in fairs and other scenarios to broaden the links. Cuba currently collaborates with that nation in health and sports and are underway the first steps in the energy and public finance areas, but there are also opportunities in tourism and logistics linked to maritime-port activities, Nuñez said. The MINCEX deputy minister also highlighted a memorandum of understanding between the Ministry of Economic Development and MINCEX - subscribed one day before-, which will allow concrete steps to expand and diversify bilateral trade operations. In the business forum took part executives of twenty Curacao companies operating in key areas identified by both governments. Havana was also the scene of the signing of a memorandum of understanding between enterprises Commercial Cupet and Curinde, with a view to make future joint projects in the energy sector. Source: RHC 45 Cuba FOREIGN TRADE No. 3/2016

46 The Chamber today Dominican mission explores business opportunities / INTERNET Organized by the National Council of Free Zones (CNZFE for its acronym in Spanish) of the Dominican Republic and the Chamber of Commerce of the Republic of Cuba (CCRC), representatives of 48 companies, mainly in the manufacturing, agribusiness, medical products, construction and logistics and engineering services sectors explored in Cuba business opportunities and ways to strengthen bilateral economic ties, from 26 June to 2 July. In a binational business forum held at the Meliá Habana hotel, the CCRC vice president, Odalys Seijo, highlighted the importance of this delegation -the most numerous and diverse that arrived in Cuba from that country- to identify areas of joint collaboration and in search to diversify existing trade. César Dargam, Dominican Deputy Minister for Economic Affairs and Trade Negotiations, said that they are giving continuity to a series of meetings previously made between productive sectors of the two countries, which in April signed an agreement to establish a joint group that studies the foundations for a future trade agreement of greater impact. Agreement with Adozona Our Chamber of Commerce and the Dominican Association of Free Zones (Adozona) formalized an institutional collaboration agreement to strengthen economic ties, increase exchange and diversify existing business relationships. The agreement ratified mutual interest in contributing to the development of trade and economic relations in order to stimulate export growth in both countries. Establishes the purpose of exchanging information on international fairs and exhibitions held in Cuba and the Dominican Republic, and promote mechanisms to facilitate the participation of their respective enterprises and entities in events of interest. They further agree to support the organization of missions of its members in order to meet new opportunities for joint partnerships and new business as well as in the interest of dealing with problems and obstacles to bilateral trade identified by the CCRC and Adozona. In that country Free Trade Zones emerged in 1969, have currently installed around 57 parks and there are 565 companies, which provide more than direct jobs. Dominican Republic is the first trade partner of Cuba in the Caribbean. In 2015 Dominican exports to the largest island in the Caribbean reached 54.2 million dollars. Meanwhile they imported from Cuba 38.7 million dollars, according to statistics provided by the visiting delegation. Sources: PL and ACN South Africa business forum Cuba and South Africa held on 19 July at the Hotel Meliá Cohiba a business forum to strengthen mutual ties and to position the economic ties between the two countries at the same level of the close existing political ties. At the meeting on the occasion of the trade delegation visit comprising representatives of 10 South African companies from various sectors, Celia Labora, Director of International Relations of our Chamber of Commerce, stressed the fraternal ties of friendship and brotherhood that unite both peoples and highlighted the existence of wide potential of joint work towards achieving higher levels of exchange. Labora also stated that this mission is carried out at a time when Cuba updates its economic model and are opened new opportunities for the development of mutually advantageous business. Paul Pieterse, Deputy Director for Export and Import of the Chamber of Commerce and Industry of the Republic of South Africa, expressed his belief that this visit will create the way to increase relations between the two markets. He acknowledged that despite the existing strong political ties, bilateral trade is limited and hence the forum was an ideal space for entities to meet and identify new work proposals. The meeting included a presentation on doing business in Cuba and their foreign investment opportunities. South African businessmen visitors were invited to participate in the next edition of the Havana International Fair, FIHAV Source: ACN 46 Cuba FOREIGN TRADE No. 3/2016

47 The Chamber today Strengthened trade relations with Venezuela The Presidents Raúl Castro and Nicolás Maduro, when attended the signing of the annual collaboration plan for 2016 that promotes relations between the two countries Cuba-Venezuela Business Forum with the aim of A showing the enterprises potential of both countries, encouraging more diversified trade links and exploit the existing potential, gathered on July 8 in Havana 71 entrepreneurs of public and private enterprises of South American state, just as the 15th anniversary of the Comprehensive Cooperation Agreement between the two countries. The president of our Chamber of Commerce, Orlando Hernández Guillén, expressed his satisfaction with the main purpose of his visit: to strengthen the historic and close relations that unite the peoples and governments of Cuba and Venezuela, increasing trade and economic relations. Venezuela's participation in the Havana International Fair has increased markedly he said- and the Venezuelan business wants to reach a much larger space in the Cuban market. "We have strong relationships developed at government level for many years through the Cooperation Agreement," he said, and now wants to promote a certain level of relationship focused on areas such as health, construction, industry and chemistry, among others. The fundamental aspiration, added Hernández Guillén, is that Venezuelan companies achieve a prominent space in the island economy, attending the national sustainable development plan until The long-term goal is to achieve much more diversified trade links and exploit the existing potential, said Venezuelan Vice Minister of Economic Cooperation and chairman of the Foreign Trade Bank of Venezuela (Bancoex), Ramon Gordils, speaking at the meeting. He said the fruits of this mission work will result in the development of more diversified and strengthened bilateral relations with also long-term projections. Sustained exchanges, said Gordils, show that there is huge potential for joint work. He expressed conviction that shall encourage new businesses. For his part, Cuban Minister of Foreign Trade and Investment, Rodrigo Malmierca, stressed the spaces opened in the two countries to increase commercial ties, cooperated productions and investments. "Today Venezuela is the first trading partner of Cuba, but we have a great untapped potential that we have not been able to identify," he said. For this reason, the Joint Intergovernmental Commission set up a working group to encourage operations of companies and projects that can be realized in the short term. Managers and business visitor s progress in business talks with the Cuban enterprises, to promote trade and productive partnerships for mutual benefit. "Endogenous economic development based on social agendas is a key aspect for both countries and the initiative of the business community is an important aspect stimulus lever," said vice president for the economic area, Miguel Angel Perez Abad. According to the also Minister of Industry and Trade, the meeting marked a new way to promote not only the exchange of goods and services but also industrial projects, with the participation of state and private companies, which represents an advantageous alliance. Directives and officials explained to the entrepreneurs visitors the current economic climate of the island, and were also exposed the general context and the legal and regulatory framework for foreign investment in Cuba. Composed of representatives of the health sector and automotive, food processing, chemical, manufacturing, food, construction, textiles, footwear, packaging and packaging, and chemical industrial technology branches, the delegation included on its agenda a visit to the Mariel Special Zone Development to see investment opportunities and logistical support for the movement of goods. In mid-june the Minister of Foreign Trade of Venezuela Jesus Faría, said his country and Cuba will increase investment in tourism, oil and steel industry, among other sectors. The historical relations of cooperation between Havana and Caracas secure the future of Venezuelan investments in the largest nation in the Antilles, he said. The determination of both governments to strengthen economic, trade and cooperation ties had been ratified in March at the XVI Meeting of the Cuba-Venezuela Intergovernmental Commission, on the occasion of the official visit to the Island of President Nicolás Maduro. Sources: PL, Granma and Juventud Rebelde 47 Cuba FOREIGN TRADE No. 3/2016

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