Cuban Ambassador to Jamaica, Inés Fors Fernández, says that while the United States is trying to discourage investment in Cuba, the country remains open for business to Jamaica and the rest of the world.
Cuba’s 2018-2019 portfolio of foreign investment opportunities contains 525 projects, seeking total financing of more than US$11.6 billion. The recommended areas to invest in Cuba include agriculture, transportation, mining, tourism, renewable energy, and telecommunications.
“In the case of Jamaica, we have been trying to promote business, to promote investment with Cuba. JAMPRO (Jamaica Promotions Corporation) has travelled to Cuba. I think they have been in Cuba 14 years in a row. There are a lot of Jamaican companies travelling to Cuba to attend the Havana International Trade Fair, so it gives an idea about the interest of Jamaica in reaching the Cuban market,” Fors Fernández said at a Gleaner Editors’ Forum last week.
She added that Jamaica’s major exports to Cuba are related to the services boom and include chemicals and manufactured goods such as boxes, crates, plastic articles, mattresses, juice mixtures and unsweetened biscuits.
“In May 2016, the deputy minister of foreign trade and investment of Cuba travelled to Jamaica as part of a tour to the Caribbean. In 2017 and 2018, two Cuban trade delegations travelled to Jamaica, invited by JAMPRO and the EXIM Bank, offering a line of credit to facilitate exports of Jamaican goods to Cuba,” said Fors Fernández.
She said that Jamaica and Cuba’s long history of social and cultural ties provided the perfect background for increased business exchange between the two countries.
“Jamaica is one of the most important Cuban partners in the Caribbean. Nevertheless, our objective is to take trade and business between Cuba and Jamaica at the level of bilateral relations in political and diplomatic fields and how we can promote the link in the tourism field,” said Fors Fernández.