Cuba to Diversify Export Markets, Services

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Minister of Foreign Trade and Foreign Investment Rodrigo Malmierca (photo) said here in this capital that the diversification of export markets and services to support Cuba”s socio-economic development is a priority.

During the most recent meeting of the Council of Ministers, the minister described the promotion of these sectors in Cuba’s current economic situation as “vital,” as the island updates its economic model and faces the impact of a global crisis.

According to the summary of the meeting, as reported by media here, Malmierca said that the export of services has become the main source of foreign currency for Cuba, with its human capital representing a “great potential for continued increases.”

Some 68 percent of these exports are provided by health and tourism, with the possibility of adding computer services, communications, education, and sports services, he said.

For Malmierca, particular emphasis should be placed on the training of those involved in exported services.

In his speech, Malmierca also presented a report on irregularities affecting the Cuban economy that have been detected in the businesses operating with foreign capital and international contracts.

According to Malmierca, among the main causes and conditions that bring about the occurrence of these events are lax oversight and control mechanisms throughout the business, as well as problematic behavior and attitudes from managers and officials involved, either as a result of ignorance, inability or ethical violations.

The expanded Council of Ministers meeting, held on Friday, May 10, also analyzed issues such as the marketing of agricultural products, the investment process, the efficient use of machines, tools, and equipment, and how to face criminal activity in fuel sales.

Regarding the issues discussed, Cuba’s President Raul Castro called for placing due importance on resource conservation and the training of managers and employees in the updating of the economic and social model underway on the island.

(prensalatina)

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