Germany and Cuba agree to open Havana trade office

Germany and Cuba agree to open Havana trade office
Burying old Cold War tensions, Germany and Cuba have agreed to open a
trade office in Havana. German Vice Chancellor and Economy Minister
Sigmar Gabriel said the countries "want a new partnership on an
eye-to-eye level."

The memorandum, signed by Sigmar Gabriel (above, center) at the start of
his two-day trade visit on Thursday, could prove to be beneficial to
German businesses seeking to invest in Cuba, and potentially increase
the current 225 million euros ($244.22 million) in annual bilateral trade.

Speaking at the launch of a forum of German businesses and Cuban
government officials, Gabriel said the deal marked "the start of a very
dynamic process for our bilateral economic relations."
"Part of this process will also surely be to modernize our political
relations," the vice chancellor added.
"There were difficult times for economic and political cooperation, and
now is a good time to change that."
Echoing Gabriel's sentiments, Cuba's foreign trade minister, Rodrigo
Malmierca, said he too saw "great potential" to strengthen ties as Cuba
reforms its economy.
Cold War tensions
Prior to the reunification of Germany in 1990, West Germany was a rival
of Communist Cuba, with Havana a staunch ally of the Soviet-controlled East.
Over the past 25 years relations have thawed, and Germany is now Cuba's
fourth-biggest European trade partner. In 2014, their bilateral trade
was worth $378 million.
After Canada, Germany is also Cuba's second-biggest source of foreign
tourists in the world. Between January and November last year, more than
154,000 Germans visited the island.

Global attention

Following its historic move to restore diplomatic ties with the US last
year, Cuba is quickly gaining interest from companies around the globe.
During his visit, Gabriel was due to meet with his Cuban counterpart
Miguel Diaz-Canel and other cabinet ministers. Also on the agenda was a
visit to gas-bottling Oxicuba S.A., where German industrial gases
supplier Stefan Messer GmbH has been involved in a joint venture with
the Cuban government since 2001.
ksb/rc (Reuters, AFP)

Source: Germany and Cuba agree to open Havana trade office | News |
DW.COM | 08.01.2016 -
http://www.dw.com/en/germany-and-cuba-agree-to-open-havana-trade-office/a-18966538