Mexico and Cuba strengthen economic cooperation

Mexico and Cuba strengthen economic cooperation


Countries also agreed to modernize the existing regulatory framework on migration issues. The agreement was signed by the President of Mexico, Enrique peña Nieto and the head of the state Council of Cuba Raul Castro.

MEXICO city, 7 Nov. Mexico and Cuba on Friday signed a package of agreements that open opportunities for investment in the island’s economy on the background of increased openness of the Cuban economy.

According to the Minister of economy of Mexico Ildefonso, Guajardo, will allow Mexican companies to invest more in Cuba. “This is important because Cuba is now in the process of opening its economy, and Mexico is traditionally supposed to be a country well prepared for such investments in the interests of the Mexicans,” said Guajardo.

The agreement was signed by the President of Mexico, Enrique peña Nieto and the head of the state Council of Cuba Raul Castro during his visit to Latin American country. The parties also agreed to modernize the existing regulatory framework on migration issues, due to the influx of Cubans seeking through Mexico to get to USA.

According to the interior Ministry of Mexico, only from January to August of 2015 arrived in the country in various ways 4,8 thousands of Cubans, not risen on the migratory account. This is almost 2.5 times more than in the same period of 2014 (2 thousand people).

In the beginning of 2015, Cuban authorities have approved the first draft of the Mexican company to invest in special development zone in the Cuban port of Mariel. Earlier the Ministry of Finance of Mexico estimated the total number of Mexican investment in Cuba in 50. According to Mead, it is now implemented 30 projects, nine of which are in the zone of Mariel.