Cuba and Spain driving its economic relations

New Holland Eng

Within the traditional good relations between the two countries, Cuba now represents a new opportunity for Spanish investment. Cuban and Spanish authorities are actively working to expand economic, trade and financial relations.

The vice president of Cuba, Ricardo Cabrisas and Minister of Economy and Competitiveness of Spain, Luis de Guindos, have held a meeting in Madrid to discuss issues of mutual interest in the economic field. To this end, in June 2014 the Insurance Company Spanish Export Credit (CESCE) Cuba opened a new line of credit insurance coverage for short-term financial transactions amounting to 25 million euros.

Last June, the Spanish Development Finance Company (COFIDES) announced its credit line to support investment projects of Spanish companies in the island amounting to 40 million euros.

Cuban short-term debt with Spain has also been addressed in the meeting today, which have laid the groundwork for an agreement allowing the establishment of new conditions. The content will be ratified by the governments of the two countries at an upcoming meeting in Havana.

Source: Empresa exterior

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