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Each day TFO Canada publishes a sample of trade news on the Canadian import market along with any new, updated or changed regulations and legislations regarding international trade; countries in which TFO Canada offers services and on the export sectors which it promotes.

 

Cuban Economy Maintains Positive Signs of Growth

Tuesday, November 04, 2014 > 09:30:19
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(Telesur TV)

Despite the blockade still imposed by the United States, the island managed to maintain a continued increase in its economic growth rate.

The Cuban economy is maintaining positive signs, according to the minister for external trade and foreign affairs, Rodrigo Malmierca, in the opening speech of the 32nd International Fair of La Havana (Fihav 2014) on Sunday.

The fair is aimed at attracting foreign investment and firming up projects to export, rather than buying from overseas.

Despite the negative effects of the economic, commercial, and financial embargo imposed by the United States, for over half of a century, Rodrigo said, and despite the world crisis, Cuba will strictly honor its contracts.

He said the growth rate of the island reached 2.7 percent, maintaining its progress during 2013. In the first half of the current year, the results showed a small rise, though lower than the previous year.

The state official highlighted that this year's fair will be the biggest of the last 12 years, with the presence of thousands of businesspeople from over 60 countries.

Among the delegations, he noted the Community of Latin American and Caribbean States (CELAC), and representatives from Angola, Bahamas, Brazil, Bolivia, China, El Salvador, Mozambique, Panama, Portugal, Russia, Uruguay and Venezuela. The latter has been the main commercial partner of the island for the past 15 years.

The fair, which will end on November 8, is organizing various meetings between Cuba and its commercial partners, with over 500 local and foreign exponents.

On Tuesday, the General Assembly of the United Nations urged for the “need to end” the economic, commercial and financial blockade, imposed by the United States against Cuba. This was the 23rd time the Assembly voted against the U.S. measure.

According to a survey earlier this year, released by the Atlantic Council, 56 percent of the U.S. population favor a normalization of U.S.-Cuban relations.  

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