Home Headlines Cuba is a potential market for trade and business with Yucatan

Cuba is a potential market for trade and business with Yucatan

by Yucatan Times
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According to Anuar Arceo, vice president of Latin America of the Mexican Business Council for Foreign Trade, Investment and Technology, A.C (Comce), Cuba is a potential market for business and trade with the state of Yucatan.

The official assured that there are many sectors and economic branches in which both regions can trade, both in sale and in the acquisition of merchandise, but in order to convert, it is necessary to “search” for those opportunities.

Yucatan, he said, is distinguished by being the only Mexican state whose governor has gone to meet with businessmen in that Caribbean nation and that gives “plus” to the relationship with Cuba.

He highlighted that Cuba imports 97% of the products the country needs, as it produces almost nothing, and the remaining 3% is manufactured in the domestic market.

“One of the problems faced with the Caribbean island is the method of payment; there are first-tier banks that buy the letters of credit and in Cuba we work with two of them: the Republic Bank of Trinidad and Tobago and the Golden Tulip of the Netherlands, and these banks are in the Business Center of Cuba,” Anuar Arceo said.

He pointed out that there is a special norm for acquiring letters of credit, that’s why those interested in doing business there are asked to go to the chambers of commerce, the consulate or the people who have done business before so they can guide them on how to sell and how to get a letter of credit, and how to make payments through the aforementioned banks.

The official said that the Food Fair had just concluded and only one Yucatecan company attended, which made contracts with Meliá and Iberostar for the supply of fruits and vegetables grown in the Yucatan.

“We hope that at the next fair, in November, whoever wins the election will maintain a good relationship with Cuba, and still provide the great support that the Secretariat of Economic Promotion has given us until now,” he concluded.

Source: yucatan.com.mx

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