HAVANA, (Reuters) – Germany and Cuba yesterday agreed to open a trade office in Havana that would help German businesses seeking to invest in the Communist-led island and possibly increase the current 225 million euros ($244.22 million) in annual bilateral trade.
German Vice Chancellor Sigmar Gabriel signed a memorandum of understanding with Cuban Foreign Trade Minister Rodrigo Malmierca at the opening of a business forum, the first event on Gabriel’s two-day schedule.
German business leaders have said German-Cuban trade could quadruple to 1 billion euros in the coming years as Cuba seeks foreign investment and because Havana’s improved relations with the United States could generate trade with third countries.
Gabriel said German companies want long-term investment in Cuba under transparent rules.
“We want to put the political and economical relations to Cuba on a new basis,” he said. “We want a new partnership on eye-to-eye level.”
