WASHINGTON: U.S. business officials are headed south this week to explore ways for American companies to boost business in Cuba and to scope out opportunities for foreign direct investment, setting up alongside companies from other nations at the annual Havana International Trade Fair. The U.S. Chamber of Commerce’s U.S.-Cuba Business Council will also meet with Cuban officials from both the public and private sectors during a three-day trip, a spokeswoman told Morning Trade.
One highlight of the week will be an announcement from Cuban Minister of Foreign Trade and Investment Rodrigo Malmierca on the nation’s 2016 portfolio of FDI opportunities at the fair and projects for which Cuba is seeking outside funding. The presentation will indicate what the government’s economic priorities will be for the next 12 months, said James Williams, the president of Washington-based advocacy organization Engage Cuba.
“It’s an important week to see what we’re going to be working on with Cuba in that space for the coming year,” he added. For the U.S. business and investment communities, Williams said, the presentation also serves as a “progress report” on how much work has been done on previously announced projects. The Chamber’s delegation will include executives from major companies like American Airlines and GE, and aims to focus on understanding the current economic state of affairs in the island nation as well as to share best business practices with emerging Cuba businesses, a Chamber spokeswoman added.
