Cuba facing all odds to put economy back on track

Cuba’s Minister of Foreign Trade and Investment (Mincex), Oscar Pérez-Oliva, strengthened today his country’s willingness to work out all woes currently gripping the local economy and move forwards with development.
 
In his opening remarks at the 40th Havana International Fair (Fihav 2024), the minister referred to both the difficulties facing the nation and the optimism with which they are faced.

The event (from November 4-9) has attracted more than 700 exhibitors from 63 countries, distributed over Expocuba’s 19,400 square meters fairgrounds, figures that comparatively dwarf those of the previous edition.

Pérez Oliva noted that in 1983 Cuba opened the Ibero-American Fair of Industry and Commerce, an event conceived to bring together foreign and national companies, and to promote joint businesses and projects for the development of the Americas.

That event stood as the forerunner for the first edition of Fihav, in 1984, as a brainchild from mainly fostered by late Cuban leader Fidel Castro (1926-2016).

The Minister went on to explain that the Fair is taking place now at a particularly complex time for the country, which must deal with an unprecedented intensification of the economic, commercial and financial blockade from the United States government, as well as tropical storms.

He stressed that such extra-territorial sanctions from Washington affect companies and businessmen from all over the world, who despite pressures and blackmail continue to bet on Cuba

If that was not enough, he emphasized, including Cuba in the unjust and arbitrary list of states that allegedly sponsor terrorism, significantly hinders the island’s interbank relations, and consequently, its capacity to collect payments and pay abroad.

This notwithstanding, the General Assembly of the United Nations, on October 30, voted against the blockade with 187 countries approving its lifting and backing Cuba’s resolution on the necessity to put an end to this policy of suffocation.

Pérez Oliva also ratified the Government’s will to re-boost the economy despite all odds against, as demonstrated by its decision to host Fihav, 2024, which has great appeal for businessmen.

Cuba, with support from foreign partners, is currently engaged in plans to correct distortions and put the economy back on track, said the Minister, as he pinned his hopes on such joint endeavors to bring stability the macroeconomic indicators and improve local conditions for development.