4th Session of the Franco-Cuban Economic Commission took place in Paris

HAVANA, Cuba, Dec 6 (acn) Giving continuity to fluid relationships between Cuba and France, the 4th Session of the Franco-Cuban Economic and Commercial Commission took place today with the aim of analyzing the implementation and follow up on the Bilateral Economic Agenda signed on February 1, 2016.

A note from the Caribbean Foreign Ministry reports that the Cuban delegation was chaired by Rodrigo Malmierca, Minister of Foreign Trade and Foreign Investment, and made up by Elio
Rodriguez, Ambassador to France; Vladimir Regueiro, First Deputy Minister of Finance and Prices; and other officials of the Ministries of Foreign Trade, Economy and Planning and the Central Bank of Cuba.
Meanwhile, the French delegation was headed by Jean-Baptiste Lemoyne, Secretary of State to the Ministry for Europe and Foreign Affairs, co-Chairman of the Commission with the Cuban FM; Patrice Paoli, Ambassador to Cuba; and officials of the Ministries of Economy and Finance, Foreign Affairs and the French Agency for Development (AFD).
During the exchange, both parties ratified the will of deepening institutional relations, as well as strengthen economic and commercial ties, in a context of intensification of the US economic, commercial and financial blockade against Cuba, with increasing extraterritorial impact.
After this working session, it was signed an Agreement to guarantee medium and long-term business operations, for 150 million euros, which will be allocated to prioritized projects
in the Cuban economy.
The recent signing of the financing agreement for the strengthening of three Cuban health institutions, as well as the enforcement of financing for two projects for the development of rail transport and water and sanitation sectors are part of the broad portfolio of projects to
develop in Cuba, for amounts exceeding 100 million euros.
The French government confirmed the willingness to continue working alongside Cuban institutions to promote greater participation of French companies in investments and trade with the Caribbean island.
The tourism sector was also reflected in this event, with the creation of a bi-national Working Group that will allow structuring and coordinating exchanges between companies in both countries, whose first session is scheduled for January 2020.
The working day also included the celebration of the 4th Meeting of the Strategic Orientation Committee that manages and coordinates the Countervaluation Fund established under the bilateral agreement of debt structuring.
This fund provides for financial support in local currency to development projects with foreign investment.
Both parties agreed to hold the 5th Session of the Franco-Cuban Economic and Commercial Commission next year, in Havana.