HAVANA, July 8th Trinidad & Tobago is one of Cuba’s major trading partners but there is still room for improvement, according to Hilda Rosa Santiesteban, president of the of Commerce.
“T&T has traditionally been Cuba’s second largest trading partner in the Caribbean,” Santiesteban said.
“Annual levels of trade have been between 35-55 million Cuban pesos annually, except for 2006 when it reached 67 million pesos.”
Santiesteban made the comment at a presentation on doing business in Cuba jointly hosted by exporTT and the Cuban Embassy at the Centre of Excellence, Macoya.
The seminar was held on the opening day of the Trade and Investment Convention (TIC) at the Centre of Excellence, Macoya.
Cuban exporting companies that do business with T&T include Cubazucar, Cupet, Cinox Commercial and the Dalmer S.A. Laboratory.
She said T&T’s companies have traditionally had a strong presence in the Havana Trade Shows in Cuba and in 2016, 75 T&T businesspeople were present.
She listed areas in which both countries can build more ties in.
“We want to continue to strengthen our economic relations by exporting goods and services. In the specific area of services, we want to identify the possibilities of Cuba meeting T&T’s needs in the areas of health, education and sports,” Santiesteban said.
“We also want to continue efforts to introduce products from our biotechnology sector such as HebertProt P and Labiofam productions.”
Apart from exports to T&T, she said Cuba is interested in T&T’s expertise in the energy sector.
“Cuba wants to learn from the experience of T&T, a country with a vast experience in the petrochemical industry, now that Cuba is developing oil prospects in the Gulf area,” she said.
She also said Cuba wants to more commercial ties with T&T conglomerates like the ANSA McAL Group.
She concluded by saying that Cuba is the ideal place to set up business and encouraged all investors to visit Cuba.
“The political, legal and social stability offered by Cuba is fundamental in the business world. Companies can also take advantage of the excellent geographical location of Cuba as a key to the Gulf and the highly qualified workforce,” she said.