• Submitted by: manso
• Business and Economy
• 10 / 22 / 2010

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Friday, October 22, 2010. JAMAICANS investors could get an opportunity to tap into the huge Cuban market when the country, with a population of approximately 11.2 million people, opens the Havana International Trade Fair early next month.

The international trade fair, now in its 28th staging, is scheduled to run from November 1 to 6.

"I would convey the message that the trade fair would present a great opportunity to have first hand assessment of the trade opportunities and investment opportunities in Cuba," Cuban ambassador to Jamaica Yuri Gala Lopez told the Observer in an interview.

"I look forward to participation from Jamaican companies," said Lopez.

According to the ambassador, Cuba continued to be open for international investment, despite the 50-year long US embargo placed on the Caribbean country.

"We expect more than 45 nations to participate [in the trade fair]," Lopez said, adding that Jamaica's national promotion agency, Jampro, is slated to send a delegation to the event.

Cuba's renewed push for foreign investment and trade comes against a background of current adjustments in the Cuban economy, and the ambassador feels this could be an excellent chance for Jamaica to form business alliances with its Caribbean neighbour.

"There are business opportunities in Cuba for any country in the world, including Jamaica," said Lopez, who is now completing the first year of his tenure here.

Over the past few months Cuban president Raul Castro has cut the size of the public sector in Cuba, sending thousands of workers off the State's payroll and dole system and into private sector activities.

Lopez said that since 1995 Cuba has encouraged foreign investment through joint venture arrangements.

He cited the area of tourism where foreign capital, especially from Spain, has resulted in the construction and management of numerous hotels and resorts.

"Spain will have an important participation in the trade fair," he said.

Jamaican hoteliers have also established resorts in the Caribbean country, just 90 miles north of Jamaica.

In the meantime, the Cuban ambassador said that he is expecting a strengthening of trade relations between Jamaica and his country in the near future.

"We are optimistic that in the coming months and years that relationship will increase," he commented.

Exhibit for the Havana trade fair include kitchenware, home electronics, furniture and sports goods.

BY PATRICK FOSTER Observer writer [email protected]

Source: www.jamaicaobserver.com/