Roundup: Italy seeks expanding business collaboration with Cuba

Italian Prime Minister Matteo Renzi Wednesday concluded his official visit to Cuba with the aim of expanding economic and trade relations with the Caribbean island country.

According to a release issued Wednesday night, Cuban President Raul Castro and Renzi stressed the positive development of the bilateral relations and the mutual willingness to boost exchanges in the economic, cultural and academic spheres.

The Italian prime minister arrived in Havana on Tuesday night with his economic and foreign affairs officials as well an entourage of 140 business people.

At a business forum on Wednesday, Renzi called on his compatriots to identify potential investments on the island related to tourism, renewable energy, agriculture, construction, and "everything that can contribute to strengthening ties between the two nations."

"Italian companies could contribute to supply technologies, know-how and equipments needed by Cuba to develop infrastructure and reduce food imports," Renzi said at the forum.

Cuba spends 2 billion U.S. dollars in food imports every year, thus President Castro encourages a policy to produce everything possible domestically.

Renzi said Italy can offer Cuba concrete business that will contribute to increasing agricultural production, thus reducing its dependence on imported food.

He also called on Italian businessmen to invest in Cuba in renewable energy -- as they did in Chile and Colombia -- with signed agreements for the development of hydropower.

"Cuba plans to reach in 2030 some 24 percent of its energy obtained from renewable sources; both countries can develop joint projects and we are ready to participate in this challenge with companies in the sector" , the Italian top official said.

Cuba produces enough oil to meet half of its domestic needs, and the rest is supplied by its political and economic ally Venezuela. However, the island's authorities intend to change its energy matrix, which requires large investments.

With regard to Tourism, the Italian prime minister said he was impressed by Havana, hailing the capital as a city "with a lot of potential for tourism because the travelers look for places not only pretty but with a soul."

When lecturing at the University of Arts in Havana, Renzi said, "Beyond the political and economic aspects, we must emphasize the cultural sector, which will help keep us together".

"We are available and interested to collaborate in this field with projects, initiatives and university exchanges," he added.

Renzi mentioned the terrorist actions in other parts of the world threatening the cultural heritage of mankind and said Italy wants to be "leader in caring the great world treasures."

Renzi's visit, the first by an Italian head of government, comes at a time when Cuba and the European Union are advancing the negotiations on a trade and cooperation agreement.

Cuba is the fourth and last stop of Renzi's Latin American tour, which also took him to Chile, Peru and Colombia.

Italian Deputy Minister of Economic Development Carlo Calenda visited Havana in July, 2014 to boost bilateral business ties.

At present, Italy is Cuba's eighth largest trading partner, and Cuba is attracting an increasing number of Italian tourists.

Some 120 Italian companies have confirmed to participate in the next International Havana Trade Fair "FIHAV 2015", a higher number than in the previous editions, demonstrating a strong interest in deepening the bilateral business ties. Endi