(MENAFN) Germany and Cuba agreed to significantly boost business cooperation to help German businesses seeking to invest in the Communist-led Island, hoping to raise the current USD244.2 million in annual mutual trade.
Germany forecasts that the joint business relations may quadruple to USD1.09bn in next years as Havana's improved relations with the US could generate trade with third countries, plus the fact that Cuba seeks foreign investment.
For instance, German industrial gases supplier Stefan Messer GmbH has been in lucrative joint ventures with the Cuban government since 2001, mostly through the gas-bottling Oxicuba SA, which shows that the infrastructure is there.
Moreover, trade opportunities were further advanced last month when Cuba reached a vital debt-restructuring agreement with 14 wealthy nations of the Paris Club that forgave USD8.5 billion of Cuba's defaulted USD11.1 billion debt.
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