Increasing exports is Cuba’s strategic challenge

According to a document published recently in Cuba to explain the measures to be taken in key economic sectors to boost the country’s development, despite the economic, commercial and financial blockade imposed by the United States against the Caribbean island, food producers should work together with the industry to meet the domestic demand, while exports of such products as fruits, vegetables, charcoal, coffee, cocoa, bee honey and others should be increased.

The objective of this strategy is to fund the production costs with those revenues.

Currently, 40% of Cuba’s exports of goods are generated by the agricultural sector, the general director of Foreign Trade, Vivian Herrera, said recently,

Another sector where exports must be promoted is professional services, a field in which Cuba has the expertise, mainly in public health and biotechnology.

However, the Cuban strategy to attract foreign currencies also aims to attract foreign markets for educational, cultural, sports, scientific and technical services.

The biopharmaceutical industry joins the sectors that will seek more revenues from exports by developing innovative products to improve Cubans’ quality of life and raise foreign buyers’ interest.

In July, the Cuban Government announced the possibility of adding more services and products to its exports in order to counter the ongoing economic crisis worsened by the US blockade.

In that regard, Foreign Trade and Foreign Investment Minister Rodrigo Malmierca said on Wednesday that a contract was signed between a Cuban cooperative and a Panamanian company, and 44 other deals are being negotiated.

Malmierca added that 550 private workers, 90 cooperatives and 152 natural individuals are interested in offering their goods and services to foreign companies, so he called to be more efficient in order to materialize those sales, which are so necessary for the country’s economic development. (Latin Press)