Belgian Entrepreneurs Explore Business Opportunities in Cuba

HAVANA, Cuba, Aug 28 (acn) Entrepreneurs of the Belgian private sector explore in Cuba new business and investment opportunities in lines that are key for both markets, which contribute to diversify bilateral trade.

The mission, composed of representatives of 12 Belgian private companies, is the first of its kind to visit the island in search of boosting strategic partnerships with Cuban entities for the development of telecommunications, construction, logistics and agribusiness.
This was confirmed on Thursday by Bultynck Guy, president of the Belgium-Luxembourg Chamber in a business forum held at Havana's Hotel Nacional de Cuba, where Cuban officials and businessmen interested in knowing the interests of the visiting delegation participated.
With this mission, in addition to boosting bilateral trade ties, we hope that Cuba becomes a bridge to get to other markets in Latin America and the Caribbean, in a very favorable context and when the Caribbean nation opens to the world, pointed out Bultynck.
The representative of the Belgium-Luxembourg business community conveyed the interest of his Chamber's associates in the opportunities opened to foreign investment as a result of Law 118, passed in March, 2014, to stimulate foreign capital flows in 11 key sectors for the Cuban economy.
Omar Fernandez, secretary general of the Chamber of Commerce of the Republic of Cuba, called on the parties to identify potentials existing in both markets, which have not been exploited to date, in order to diversify trade links.
After explaining the development of Cuban economy and the process of updating undertaken by the island, the Cuban official gave details of the business portfolio, which brings together 246 projects, valued at about 8.7 billion dollars.
With respect to bilateral exchanges, Fernandez said that Belgium ranks sixth among Cuba's main trading partners in Europe and fifteenth worldwide. From that nation, the island imports powder milk, lubricants and other chemicals, and exports mainly oils petroleum derivatives, coffee and honey.
The forum ended with bilateral meetings between companies (the so-called Be-to-be), but not before leaving an open invitation for the Belgian visitors to participate in the 33rd edition of Havana's International Trade Fair, to be held on November 2-8.