On February 24, representatives from Cuba and Australia expressed their mutual interest in broadening and diversifying trade relations during a Business Forum held in Havana’s Hotel Nacional.
During the event, presided by the President of Cuba’s Chamber of Commerce, Orlando Hernández Guillén, and Andrew Robb, special trade envoy of the Australian government, both parties agreed that now is the time to develop bilateral ties.
They also highlighted the importance of promoting investment in sectors such as renewable energy, agribusiness, tourism, livestock, biopharmaceuticals, mining and the oil industry.
Accompanied by a large delegation of businesspeople, Andrew Robb noted growing interest in direct foreign investment in the island given the updating of Cuba’s economic model and new laws which benefit investors.
In this sense, he highlighted that the reestablishment of diplomatic relations between Cuba and the U.S. attracted the attention of the entire world and businesspeople from his country.
The head of the Australian delegation also highlighted Cuba’s achievements in the field of health and his country’s willingness to cooperate in this sector. He emphasized Cuba’s outstanding medical research and development of medicines which have had a global impact, specifically those designed to treat cancer and diabetes.
Robb expressed Australia’s readiness to become an important investment partner of the island, given opportunities to cooperate in the spheres of tourism and agriculture.
He also spoke about the Cuba-Australia Business Council, responsible for working with government entities in both countries to identify business opportunities and promote trade.
For his part, Orlando Hernández Guillén highlighted that Cuba’s new Foreign Investment Law offers beneficial conditions and guarantees for international businesses.
He also noted that the island’s renegotiation of its debt with members of the Paris Club ad hoc group has improved its international reputation and thus the possibilities for increased trade.
Various meetings between organizations from both countries took place during the Forum, while officials from the Cuban Ministry of Foreign Trade and Investment and Chamber of Commerce presented the visiting delegation with the island’s portfolio of business opportunities, investment procedures and information on the Mariel Special Development Zone.
