CEOE CEO Antonio Garamendi accompanies SS.MM this week. the Kings on their state trip to Cuba, where they will participate in the program of activities planned for the 500th anniversary of the foundation of the city of Havana. During his visit, Garamendi, accompanied by the chairman of the Presidency Cabinet and CEO of International CEOE Narciso Casado, will speak next Wednesday, the 13th at the lunch presided by S.M. the King with Spanish businessmen and organized by the Secretary of State for Commerce, CEOE and the Chamber of Commerce of Spain.

Bilateral relations

As regards our bilateral relations, Spanish exports to Cuba increased between 2010 and 2015 to reach a figure of 964 million euros, which was reduced in 2017 to 899 million. In 2018, a growth of 8.1% was observed reaching 971 million euros, a historical record according to the data of the Economic and Commercial Report of the Commercial Office of Spain in Havana. Spanish imports to Cuba are reduced, presenting an irregular trend in recent years.

As regards investments, Cuba occupies the 45th position of global clients in Spain and 6th in Latin America. The island also presents itself as the 15th largest provider of Spain in Latin America and the 97th largest in the world. According to the Economic and Commercial Report, the Spanish investment stock in Cuba between 1993 and 2016 reached 3,000 million euros, which places Cuba in 57th place in the ranking of Spanish investment recipient countries. In 2016 and 2017, the flow of gross investments of Spain in Cuba was 10 million and 9 million euros respectively.


On the occasion of the official visit to Cuba in November 2018 of the President of the Government to Cuba, Pedro Sánchez, CEOE participated and organized the Hispano-Cuban Bilateral Business Committee and, in June of that same year he participated in the XXII Session of the Cooperation Committee Spanish Cuban Business. During the same, the Chamber of Commerce of Cuba and CEOE signed a collaboration agreement to contribute to the development and diversification of the economic relationship and the expansion of commercial ties.

Also, in 2016, CEOE organized a business meeting where bilateral relations and the opportunities and challenges of Spanish companies in the area were analyzed. Subsequently, a CEOE delegation traveled to Cuba with the Secretary of State for Commerce, Jaime García-Legaz, to speak at the XXI Session of the Cuban-Spanish Business Cooperation Committee. In May 2015, CEOE also signed a collaboration agreement with the Association of Spanish Businessmen in Cuba (AEEC), in order to stimulate the cooperation of Spanish companies interested in the island and those already operating in the country.

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