Prospects for Russian business in Cuba were presented at the RUSSIA EXPO
Dmitry
Chernyshenko, Deputy Prime Minister of the Russian Federation, took part in the
presentation of business opportunities for Russian businesses in Cuba as a
moderator at the International RUSSIA EXPO. During the event, representatives
of relevant ministries and agencies, public organizations and business circles
spoke about the achieved results of trade and economic cooperation between
Russia and Cuba, as well as about joint industrial and investment projects, the
basic mechanisms for cooperation between the parties at the governmental level,
and measures to support Russian exporters and investors.
The meeting
was attended by Deputy Speaker of the Federation Council Konstantin Kosachev,
Ambassador Extraordinary and Plenipotentiary of Cuba to Russia Julio Garmendia
Peña, Director of the Bilateral Cooperation Department of the Russian Ministry
of Economic Development Pavel Kalmychek, as well as more than 100
representatives of Russian companies from transportation, industry, energy,
construction, agriculture, food, space, tourism, information technology and
communications fields.
"Relations
between our countries are time-tested and forward-looking - there is no other
country in the Latin American region with which Russia has such a long and multifaceted
experience in the trade and economic sphere as with Cuba. I would like to note
in particular that over the past year we have achieved significant results with
our Cuban friends. First, there has been a considerable increase in the number
of direct flights from Russia to Cuba, and tourist traffic increased 3.5 times
in January-October 2023. Over 146.3 thousand tourists from Russia visited the
Republic between January and October. Cuba has already started to accept
Russian Mir cards. Moreover, one of the main directions of Russian-Cuban
cooperation, in which we have achieved the most significant breakthrough, is
trade and economic cooperation and creation of favorable conditions for Russian
companies to do business in Cuba and implementation of investment
projects", - Dmitry Chernyshenko said in his welcoming speech.
He reminded
that following the results of the 20th anniversary meeting of the Russian-Cuban
IGC, which took place in May this year in Havana, a number of important
documents and agreements were defined and subsequently signed and ratified with
the Cuban side. This is, first of all, the signing in July 2023 of the
Framework Agreement on Encouraging Participation of Domestic Investors in
Russian-Cuban Projects in Cuba, which allowed launching a new model of
interaction between Russia and the Republic in the project-investment and trade
and economic areas.
"Cuba
is attractive for the Russian investor for many reasons. Convenient logistics,
unique bilateral contractual and legal framework with favorable conditions for
running projects, simplified procedure for certification and licensing of
Russian products in third countries, and many years of friendly support without
regard to European sanctions. The Cuban side has committed itself to providing
a number of benefits and preferential business conditions for Russian companies
on its territory. In July of this year, Russia and Cuba signed an unprecedented
document on terms that Cuba has not yet provided to any country: a Framework
Agreement to Encourage the Participation of Domestic Investors in Russian-Cuban
projects, which enabled the launch of a new model of cooperation between the
two countries in the project-investment and trade and economic areas", - said Pavel Kalmychek.
In addition
to the Framework Agreement, in November 2023, Russia and Cuba signed a roadmap
consisting of 13 main favorable conditions with specific steps and deadlines
for the Cuban side to provide favorable conditions for Russian entrepreneurs.
"We
expect that the signing of these two documents will have a positive effect on
the indicators of economic efficiency of Russian investment projects in Cuba
and will make it possible to intensify bilateral project activities", - Pavel Kalmychek added.
The new
favorable regime can be used by the widest possible number of participants,
including Russian companies that implement investment projects in Cuba and
their Russian contractors, branches, subsidiaries and joint ventures
established in Cuba for the implementation of investment projects. Cuban
preferences for Russian business also include a guarantee of protection and
defense of the intellectual property rights of Russian companies, ownership of
the real estate of the investment project and the right to use land plots.
Moreover, the Cuban side provides the possibility of a long-term right to use
land plots - for a period of 30 years or more.
Preferential conditions affect practically all spheres of doing business, including simplified customs clearance of equipment and goods, as well as their unimpeded and duty-free import and export, and priority right to connect to engineering and communication networks of Cuba, and personnel benefits - unimpeded entry, exit, stay and employment of Russian personnel in Cuba.
The International RUSSIA EXPO is the most important achievements of the country gathered in one place. Throughout the entire period of the exposition, guests will be welcomed with cultural and entertainment events, a rich business and educational program. The expositions of 89 Russian regions, leading federal departments, corporations and public organizations are presented to the visitors. The exposition will run at VDNH in Moscow until April 12.
The large celebratory concert "Our Victory — For All Time" took place at the National Centre RUSSIA.
The "Vehicle for the Front" campaign took place on the territory of the National Centre RUSSIA on May 9.
