Belgian business delegation explores investment opportunities in Cuba

Executives from private Belgian companies arrived in Cuba Thursday to explore the possibilities of increased investment and business ties between both countries.

A delegation of businessmen from 12 Belgian companies, the first of its kind to visit the island, held a meeting in Havana with representatives of the Cuban business sector, aiming to identify areas in which the European country would like to invest.

The mission seeks to develop exchanges, especially in the areas of telecommunications, construction, logistics and food, said Guy Bultynch, president of the Belgian-Luxembourg Chamber of Commerce, after the business forum at the National Hotel in Havana.

"Besides boosting bilateral trade ties, we hope that Cuba will become a bridge for other markets in Latin America and the Caribbean in a very favorable context and time frame," said Bultynck.

At the meeting, Omar Fernandez, secretary general of the Cuba Chamber of Commerce, called on the parties to explore the potential lying in unexploited markets in order to diversify trade.

The official provided extensive details on a portfolio of foreign investments offered by the Cuban government, which comprises 246 commercial projects valued at a total of over 8.7 billion U.S. dollars.

He noted that Belgium ranks sixth among Cuba's trading partners in Europe and 15th worldwide.

The meeting concluded with an official invitation for Belgium to participate in the 33rd Havana International Trade Fair on Nov. 2-8.

Cuba currently imports mainly milk powder, lubricants and other chemicals from Belgium, while selling coffee, honey, and petroleum derivatives to the European country. Endite