Meeting between Minister for Foreign Affairs and Cooperation and Vice-President of Council of Ministers of Cuba

The meeting between José Manuel García-Margallo and Ricardo Cabrisas once again highlighted that Cuba and Spain are united by very special ties based on historic links and a unique brotherhood (including those evidenced by the more than 130,000 Spanish residents living on the island).

As regards political relations, the visit by Vice-President of the Council of Ministers Cabrisas to Madrid offers continuity to the recent flow of high-level visits. This flow demonstrates the importance given over by both governments to bilateral relations. This has translated, for example, into the support offered by Spain to Cuba at an international level: at the Paris Club, whereby the Spanish position was decisive in unblocking negotiations; with the FATF and with the IFAD. And within the framework of the European Union, Spain has decisively helped promote the commencement and progress on negotiations of the EU-Cuba Political Dialogue and Cooperation Agreement, which it hopes will be finalised shortly and lead to a final agreement as soon as possible.

As regards economic relations, José Manuel García-Margallo and Ricardo Cabrisas welcomed the progress made, with ever increasing economic trade, thus evidencing its potential future. With a trade volume of 800 million euros in 2014, Spain is the third leading trading partner of Cuba, and the first from among EU Member States. Furthermore, Spain is the leading investor on the island, with more than 200 companies already operating there, in particular in the tourism sector where it is the leading investor. These companies have shown a major commitment to Cuba, even supporting the Cuban economy at its most difficult times. Finally, Spain maintains a significant cooperation programme with Cuba.

The agreements reached in relation to Cuba's bilateral debt to Spain have come as a result of these intense exchanges. The Government of Spain has made an important effort guided by the conviction that these agreements will contribute to improving bilateral relations.

Furthermore, the visit by Vice-President of the Council of Ministers Cabrisas has allowed new possibilities to be opened up for Spanish investors and business leaders, which will henceforth include a more appropriate framework for new investment projects in practically all of the productive sectors.