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Cuba and Spain to Continue Boosting Relations

Cuba and Spain agreed in Madrid on Tuesday to continue moving forward in their relations on the basis of mutual respect and benefit, during a visit to that European country’s paid by Ricardo Cabrisas, Vice-president of the Cuban Council of Ministers.

According to Prensa Latina (PL), the top Cuban official acknowledged Madrid’s constructive role in the process that ended on December 12 with the agreement reached with the Creditor Group of Cuba in the Paris Club regarding the rearrangement of its debt in the medium and long term.
The two parties confirmed the decision of moving forward in the implementation of the multilateral draft copy with the aforementioned Club, reads a commnique by the Cuban embassy there.
During his brief working visit to Spain –Cuba’s first trading partner in Europe-, the top official thanked Spanish authorities for their permanent position of rejection of the economic, commercial and financial blockade imposed by the United States on the island.
Madrid announced the decision to reopen the operations of an insurance export credit in the medium and long term by the Spanish Insurance Company of Credit to Export.
In the talks, foundations were laid so the European nation can proceed to an additional cancellation of Cuba’s debt, through the signing of a conversion program of these obligations.
To that end, an Exchange Value Fund would be created to finance projects in Cuba, agreed jointly, which will deepen bilateral economic ties.
In addition, Spain confirmed the favorable stance in the process of negotiation and signing of the Political Dialogue and Cooperation between the European Union and Cuba, points out the text.
Cabrisas met with the Ministers of Economy and Competitiveness (Luis de Guindos) and of Foreign Affairs and Cooperation (José Manuel García-Margallo).

He also spoke with the Secretary of State for Trade, Jaime Garcia-Legaz, and with entrepreneurs interested in investing in Cuba, concludes the communiqué. (Taken from Cuban News Agency)

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