News and Facts about Cuba

Spain is Cuba’s second-largest trading partner, Spanish official says

is Cuba’s second-largest trading partner, Spanish official says
Published May 19, 2016 EFE

Spanish Secretary of State for Trade Jaime Garcia-Legaz on Thursday said
relations with Cuba are “very positive,” adding that his country is
already the island’s second-biggest trading partner.

“Spain has already become Cuba’s second-largest trading partner,
displacing , and therefore very close to , which is the
island’s major trading partner,” Garcia-Legaz told EFE in Havana.

The Spaniard stressed that Madrid has managed to reactivate its
previously sluggish relationship with Cuba and now is seeing concrete
results, particularly in trade, which is growing 15 percent annually.

Garcia-Legaz made the remarks after, together with Cuban Foreign
Minister Rodrigo Malmierca, inaugurating the 21st
Spanish-Cuban Business Committee.

The meeting was organized by the two countries’ Chambers of Commerce and
attended by representatives of about 100 Spanish companies.

Before the meeting, the Spanish official met with Malmierca and agreed
to launch a binational committee to define investment projects to be
carried out regarding the island’s 400 million euro ($448 million)
bilateral conversion program.

In early May, Cuba and Spain signed an agreement to restructure the
island’s medium- and long-term debt.

In October 2015, Cuba’s debt to Spain amounted to 2.44 billion euros
($2.73 billion) and was entirely unpaid. EFE

Source: Spain is Cuba’s second-largest trading partner, Spanish official
says | Fox News Latino –

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