Soria will meet this week in Havana with the Cuban government vice

The Minister of Industry, Energy and Tourism, José Manuel Soria, will travel to Havana on Monday to strengthen institutional and business relations between Spain and Cuba, and will have the opportunity to meet with Vice President of the Cuban Council of Ministers, Ricardo Cabrisas , industry sources said.

On Tuesday, the minister will hold meetings to work not only with Cabrisas, but also with other representatives of the Cuban government, including his counterpart in charge of the Ministry of Energy and Mines, Alfredo Lopez Valdes, and the Minister of Foreign Trade and Foreign Investment, Rodrigo Malmierca.

The trip comes in the thaw in diplomatic relations between Cuba and the United States, which has announced the reopening of their embassies. The delegations will be opened on July 20, which will be restored a broken diplomatic relations 50 years ago.

At first, it would be the Minister of Economy, Luis de Guindos, who liderase the Spanish expedition to Cuba, although Soria will replace to allow follow closely the situation in Greece, which this Sunday held a referendum on proposals for the Troika to unlock the funding of the country.

Soria will be accompanied by a delegation which will include, among others, Secretary of State for Trade, Jaime García-Legaz, and the director general of Trade and Investment, Antonio Fernandez-Martos Montero.

will also accompany the CEO of ICEX, Isaac Martin Barbero, and international director of the Chamber of Commerce of Spain, Alfredo Bonet Baiget.

During the trip, Soria will close a business meeting with companies with interests in the Caribbean country. Spain is the third largest trading partner of Cuba, as it has 200 companies based in the country.

Cuba’s philosophy regarding foreign investment is not common in other countries. The Foreign Investment Act allows temporary tax breaks and tariff, as well as special arrangements for certain investments whenever there is government interest. In any case, everything is subject to negotiation between the parties and no special sectoral incentives are provided.

Tourism is the second economic activity of the island, with a volume of 1,832 million euros a year, after the sale of medical services, which reported 4,400 million euros.

tourism.

Precisely the Spanish tourism sector is one that has major interests in Cuba, which looks with favor the establishment of diplomatic relations between the US and Cuba, and will involve a relaxation of trade or travel limits.

Over ten Spanish hotel chains have interests in Cuba. Meliá Hotels International is the Spanish chain with more stores in Cuba, until 27 hotels, with a total supply of 13,000 rooms, and this year celebrated 25 years on the island.

Iberostar It is followed by (10) string, the Roc (3) Barcelo (2) Be Live (2), BlueBay (2), H10 (2) Hotusa (2) and NH chain (one).

Furthermore, Air Europa operates a daily flight between Madrid and Havana, emblematic route that Iberia has also recovered this year, after two years suspended.