News and Facts about Cuba

Spanish industry giants to pitch to Cuba

Spanish industry giants to pitch to Cuba
Elene Kotetishvili World News 18 May 2016

IT has been reported that Spanish electricity providers, such as Gamesa,
Acciona and Gas Natural, sent emissaries to Cuba in order to establish
trade opportunities and connections for business development now that
the US has removed its long-standing sanctions and trading with
the neighbouring country.

The Cuban government has apparently decided to concentrate on finding
new methods of obtaining and maintaining renewable energy sources in
order to minimise external influence generated from importing
electro-power, preferring to produce their own.

The emphasis on finding energy production sources that can be generated
from wind or sun is linked to the supposition that Cuban fuel is
considered to be of rather low quality, as well as in short supply.

A further 55 enterprises from are visiting Cuba during this
official trip, organised by the Spanish Chamber of Commerce. The Cuban
market, now open after the removal of the American trade and commerce
blockade, has attracted massive international interest and many
companies headed there in order to cement their position on this
emerging economical podium.

Amongst the first US companies travelling to conquer new territory were
Marriott, Google and AT&T, after US leader Barack Obama’s historical
visit to Havana, closely followed by a state visit from French
, Francois Hollande; the first European leader to make the step.

The exciting opportunities come with Cuban president ’s
policies for liberalisation and modernisation of the previously isolated
state.

Modesto Pineiro, who is the Vice President of the Spanish Chamber of
Commerce as well as the chairman of the Bilateral Business Committee,
has stated that: “Spain has a very competitive position in Cuba – it is
the third largest presence on the island – and must move to maintain its
weight and amongst increased competition and interest from other countries.”

He believes that Cuba is a fast growing market and that Spain and its
companies should take a leading role in Cuba’s development process.
Considering that export to the island grew 38 per cent in 2015, reaching
a record €964 million, it is not surprising that many countries are
interested in sharing Cuba’s expanding commercial platform.

Business opportunities for Spanish companies are not just limited to
renewable energy products, but also to the Island’s plans to develop
their shipping industry and trade ports, warranting a visit from Urbas
and other real-estate firms, who develop ports such as Ineco and Port of
Barcelona.

Furthermore, companies such as Productos La Constancia, Roser and
Germina, who specialise in the installation of equipment for the
industry, are aiming to improve Cuba’s food sector.

Source: Spanish industry giants to pitch to Cuba –
www.euroweeklynews.com/3.0.15/news/on-euro-weekly-news/world-news/138672-spanish-industry-giants-to-pitch-to-cuba

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