During the annual report from the Ministry of Foreign Trade and Foreign Investment (MINCEX), the import business activity and foreign investment were also reviewed, the Presidency of Cuba published on its website.

The ministry made progress in terms of improving the Portfolio of Opportunities for foreign investment, and the reorganization of foreign trade operations for non-state economic management forms, Minister Oscar Pérez-Oliva said. He highlighted the links with Higher Education for the implementation of agreements on postgraduate courses.

Cuba had to overcome numerous obstacles in 2024 to materialize the processes of export, import, international cooperation and the business schemes abroad, the MINCEX minister noted.

Among these, he mentioned the intensification of the United States’ blockade, indebtedness with suppliers and Cuba’s unfair classification as an upper-middle-income country, which prevents the country from accessing certain aid, he explaned.

However, cigar exports and international cooperation grew, although it was more focused on receiving donations and not on the materialization of economic cooperation projects, Pérez-Oliva noted.

Cuban Prime Minister Manuel Marrero, in turn, highlighted the decisive role of MINCEX in the recovery of the population’s standard of living, and urged the organization to overcome deficiencies and distortions that hinder the achievement of plans.

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