Ministry of Economics and Technology of Federa : Gabriel taking German firms to Cuba

Press Release

2016-1-6

Sigmar Gabriel, Federal Minister for Economic Affairs and Energy (left) and the Cuban Foreign Trade Minister Rodrigo Malmierca (right) sign a Memorandum of Understanding on the establishment of a German office to promote trade and investment in Cuba.

© BMWi/Maurice Weiss

Sigmar Gabriel, Federal Minister for Economic Affairs and Energy, is visiting Cuba from 6-8 January accompanied by a 60-strong business delegation. This is the first visit to the country by a German Economic Affairs Minister for nearly 15 years. The aim is to boost economic cooperation and argue for a flexibilisation of the Cuban economic model. To this end, Minister Gabriel will be holding talks with several government representatives, opening a business forum and touring a German-Cuban joint venture.

Minister Gabriel said: 'Cuba has a great need for modernisation and investment, and products 'made in Germany' enjoy an outstanding reputation there. There are great opportunities for both our countries. My visit is intended to strengthen Cuba's cautious process of liberalisation, and to open it up to more trade and investment. With their expertise and highly efficient technologies, German firms can offer Cuba very good solutions, particularly in the field of energy, health, and machinery and plant engineering.'

The minister's schedule includes meetings with Vice President Miguel Díaz-Canel, the Ministers for Foreign Trade (Rodrigo Malmierca), the Economy (Marino Murillo), Energy and Mines (Alfredo López), Industry (Salvador Pardo) and Foreign Affairs (Eduardo Rodríguez).

Bilateral economic relations with Cuba remain at a low level, with a total volume of €224 million (2014) (exports to Cuba: €191 million, imports from Cuba: €33 million). Some 50 German companies are currently operating in Cuba. You can find further information (in German) here.