A recently passed new foreign investment law in Cuba has created a favourable environment for developing economic ties between Cuba and Saint Lucia, and by extension the Caribbean region.
The law has facilitated Saint Lucia’s Trade Export Promotion Agency’s (TEPA) successful introduction of a range of Saint Lucian manufactured products into the Cuban market.
Since the introduction of the law, TEPA has been working to introduce Saint Lucian products in a systematic and structured manner into Cuba. This has involved working closely with Dr. Charles Isaac, the Saint Lucian ambassador in Cuba.
Recently, upon invitation from the government of Cuba, the minister for commerce, business development, investment and consumer affairs, Emma Hippolyte, attended the 32nd Havana International Fair held in Cuba from November 2 – 8.
The event displayed a variety of consumer goods, machinery, equipment, technology, raw materials and services across various sectors. Entrepreneurs from more than 60 countries participated in the event.
Hippolyte took the opportunity to deepen existing bi-lateral relations with Cuba and examined future actions to be developed between Saint Lucia and Cuba.
Several meetings were held with key stakeholders to access marketing information and identify opportunities for business and trade.
The event also allowed TEPA to present a selection of other products to major buyers in the market for potential export opportunities.