Cuba’s private businesses are allowed to export & import

The general director of foreign trade at the Ministry of Foreign Trade and Foreign Investment (MINCEX), Vivian Herrera, said that 382 Cuban non-state businesses, including 290 linked to agriculture, are interested in exporting their products.

To that effect, 36 firms were chosen to facilitate exports and imports by non-state businesses, a measure that was announced recently by the Government to boost the country’s economy.

She said that self-employed workers and private producers can export through those firms, as they have the experience necessary for such contacts.

Herrera pointed out that private businesses can establish contacts and identify clients by themselves; and those companies have the facilities to inquire about indispensable elements for exports, like collection risks, among other matters.

The official stated that the idea is to make those exports and imports as viable as possible, for which private companies will only be charged the usual commercial margins, including transportation expenditures, tariffs and other frequent services depending on the kind of transaction, she pointed out.

Private businesses must have a bank account in free convertible currency (FCC) or Cuban convertible pesos (CUC) to initiate a transaction through those companies.