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Germany to open commercial office in Cuba

Xinhua, January 8, 2016 Adjust font size:

Germany and Cuba on Thursday announced a German commercial office will be established in Havana, the Cuban capital.

The memorandum of understanding about the projected commercial office was signed by visiting German Vice Chancellor, Sigmar Gabriel, who is also German minister for Economic Affairs and Energy, and Rodrigo Malmierca, Cuba's minister for Foreign Trade and Investment, during a meeting held in Havana Thursday.

Further details about the projected commercial office, such as the exact time regarding the establishment and opening of the new office, are not disclosed.

The office is meant to seek to boost investment from German companies to Cuba. The bilateral trade currently stands at around 245 million U.S. dollars a year.

During the meeting, Gabriel said that German companies are keen to invest in Cuba in the long-term, especially as the island country modernizes its economy.

Malmierca expressed his belief in the great potential for growing economic ties between Cuba and Germany.

Representatives from 60 German companies accompanied Gabriel, including heavyweights such as Volkswagen, Siemens AG and Bosch, as well as other small and medium enterprises.

During his stay in Cuba, Gabriel visited the Special Development Zone of Mariel, west of Havana, and met with Cuban officials including First Vice President Miguel Dias-Canel, Foreign Minister Bruno Rodriguez, as well as ministers of economy, energy and mines, and industry. Endit