Cuba interested in Azerbaijani investments
By Nigar Abbasova
Cuba is eager to see a flow of Azerbaijani investments in the Caribbean country and ready to provide all necessary and advantageous conditions to reach the goal.
Cuba’s Ambassador to Baku Alfredo Nieves Portuondo said that his country is interested in Azerbaijani investments, as well as in an integrated cooperation with the country. The envoy announced about this while addressing a meeting with a delegation led by President of Caspian Energy International Media Group Natalya Aliyeva.
In 2014, the Cuban government implemented significant reforms directed at promoting foreign investment and adopted a relevant law, opening up more opportunities for foreign entrepreneurs. Here, investment is allowed in all economic sectors, including utilities, administrative concessions, real estate (purchase, sale and leasing of houses and offices), hotel management and professional services. Also, the country announced creation of a free economic zone.
Portuondo further said that the two countries could cooperate in the sphere of agriculture, as Azerbaijan has always been famous for its agricultural development.
“If we could create a joint Azerbaijani-Cuban company in the field of agricultural production, it would notably promote the development of the bilateral relations,” he noted.
Cuba, which has succeeded in manufacture of the newest medicines and biotechnologies, is also ready to offer its medical services and supply products to Azerbaijan.
“We can also talk about cooperation in the field of medicine, healthcare services and pharmaceutical industry. It is also possible to conduct exchange in the field of pharmaceuticals and biotechnology, Cuba already has such experience with other countries,” he noted.
Today, Cuba renders medical services to the countries of Latin America, Europe, Africa, Middle East, Russia and other CIS.
The ambassador further highlighted a great potential for the energy cooperation, mentioning rich experience of Azerbaijan in this area.
Cuba possesses undiscovered oil fields in the Cuban part of a shelf in the Gulf of Mexico, and Azerbaijani companies could participate in their exploration and further development.
The ambassador said that the country produces about 4 million tons of heavy oil per year, mainly in the north of Havana, while there is a triangle which belongs to Cuba in the Gulf of Mexico. “Currently, we are conducting extensive exploration surveys jointly with the companies from Norway, Russia, Vietnam, France and Brazil, which use the technology for producing oil from deep horizons. The surveys show the presence of oil,” he said.
The ambassador further noted that tourism sphere can surely become one of the important directions of cooperation, adding that tourism industry of Cuba is one of the developed in the world.
Some 4 million tourists visited Cuba in 2016. The sector is expected to boom further in Cuba over coming years, as the government seeks to bring the number of visitors to over 10 million in 2030.
“We have been invited to take part in the tourism exhibition in Baku. If we can confirm our presence and participation in this exhibition, it will be the first ever in the Cuban history participation in a tourism exhibition in Azerbaijan,” he said.
Portuondo also invited Azerbaijani companies to exhibitions dedicated to foreign trade and tourism in Havana.
The envoy also noted that the Azerbaijan-Cuba political relations are at the very high level, and diplomatic efforts will focus on boosting the trade and economic cooperation.
The diplomatic relations between Azerbaijan and Cuba were established on March 27, 1992. Eight documents covering various fields have been signed since then.
--
Nigar Abbasova is AzerNews’ staff journalist, follow her on Twitter: @nigyar_abbasova
Follow us on Twitter @AzerNewsAz