Cuba’s Deputy Trade Minister to Make Unprecedented Visit to S.Korea

Seoul, May 25 (QNA) – Cuba’s deputy trade minister will make an unprecedented visit to South Korea this week and meet with local company executives to promote investment in Cuba.

South Korea’s Korea Trade-Investment Promotion Agency (KOTRA) said on Sunday that Ileana Nunez Mordoche, the deputy minister for foreign trade and investment, will hold an explanatory session on investment in Cuba on Monday. Mordoche is also planning to speak with local companies separately should they express interest in investing in Cuba.

A KOTRA official said Cuba amended its foreign investment laws early this year, including lowering taxes for offshore investors, guaranteeing ownership of companies and simplifying approval processes needed for foreign investment.

The official also said Cuba was aiming to attract investment in a variety of sectors, including agriculture, food products, electronics, tourism, traffic infrastructure and medical services.

Diplomatic ties between South Korea and Cuba were severed in 1959 and there are no South Korean firms in Cuba with the exception of a KOTRA office in Havana. (QNA)

Leave a Reply