With the recent signing of agreements on medium and long term debt, Cuba and Spain have furthered their relationship by signing another major agreement, a memorandum of understanding, on transportation and infrastructure. This deal will permit Spain to assist in the development of essential transportation and infrastructure on the Island.
Spain is Cuba’s third largest trade partner. Cuba, once a colony of Spain, share a long history of more than 500 years. The cultural ties that bind the two nations are still strong. Nearly 300 Spanish businesses currently operate and/or import to Cuba including auto parts, tourism and food and beverages sectors. Many of these Spanish investments are in the tourism industry. Since the 1990s, major Spanish hotel corporations such as Meliá Hotels, Iberostar Hotels and NH Hotels own and operate hotels and resorts throughout Cuba.
Spain has played a major role in international negotiations between the European Union and Cuba.
During the negotiations for the agreements on transportation infrastructure, Ana Pastor, the Spanish minister for public works held meetings with Cuban ministers of construction and transport. Spain’s Foreign Minister José Manuel García-Margallo and Cuba’s Foreign Trade and Investment Minister Rodrigo Malmierca were present at the signing of the agreement.
The signed agreement between Cuba and Spain include terms promotion of technological innovation in the transportation and maritime sector, management services of airports, road and rail transport, train maintenance, joint decision-making in maritime transportation regulations, training of engineers, recruitment of expert personnel and cooperation in the financial planning of road, rail, sea and air transport projects.