Vice-President of Cuba and Spanish Minister for Economic Affairs meet in Madrid to boost relations between the two countries

Within the traditionally good relations that prevail between the two countries, Cuba now represents a new opportunity for Spanish investment. Against this backdrop, the Cuban and Spanish authorities are actively working to extend economic, trade and financial relations.

With this goal in mind, in June 2014 the Spanish Export Credit Agency (Spanish acronym: CESCE) opened a new line of cover of credit insurance for short-term financial transactions for a sum of up to 25 million euros. In June, the Spanish Development Finance Agency (Spanish acronym: COFIDES) announced its line of finance to back investment projects by Spanish companies on the island for a sum of 40 million euros.

Cuba's short-term foreign debt with Spain was also tackled at Friday's meeting, at which the foundations were laid for an agreement that would establish a series of new conditions. The content will be ratified by the governments of the two countries at a forthcoming meeting in Havana.