Basque company willing to increase its presence in Cuba

The Basque company Soroa Metalworkers exhibited this week, at Havana's Hotel Palco, several of its lines of high-tech machine tools, demonstrating a willingness to increase its presence in the Cuban market.

The fair, called Open Doors offers the possibility for local entrepreneurs in the construction sector, primarily to assess a range of precision equipment for modern carpentry work, which would make their work more efficient.

Soroa has a branch in Cuba since 1997 and has close commercial relations with national import sectors of metallurgy, construction and others.

Like other foreign entities, it has suffered the consequences of non-payment by the lack of liquidity in the country, from the effects of global financial crisis on the Cuban economy.

But confidence in the seriousness of the Cuban state as a guarantor of business transactions and the understanding of the serious difficulties being experienced by the island, it took the decision to renegotiate debts and wait for slow payments to begin to flow.

Mr. Florian Barcenilla, representative in Cuba of the international trading entity Hegara Group, told ACN news agency that they have already received part of the remuneration and there are agreements signed with the importers to pay off the debt gradually.

The annual operations of the branch are valued at several million euros, which were down in 2009 by the contraction of the Cuban economy, but this year have been revived and the prospects are so promising, that they dared to run the promotional
Fair.

Source: Radio Cadena Agramonte