Ana Teresita González, First Vice Minister of Foreign Trade and Foreign Investment and the German ambassador, Heidrun Tempel, met in Havana to discuss increasing economic and commercial ties between the two countries.
Ms. González tweeted, “We value the progress of economic, commercial and cooperation relations between the two countries, their potential and the possibilities of increasing links with German entrepreneurs.”
The PAMAS factory will produce and assemble industrial valves, hydraulic and pneumatic systems, dynamic equipment and parts.
In October 2018, Germany opened a trade office in Havana to facilitate German companies in trade and investment projects on the Island.
There are several German-funded regional development projects in the fields of renewable energy, climate change mitigation and environmental protection in Cuba. In addition, a number of German NGOs operate in Cuba in the energy and water supply sectors, and adult education.
Germany and Cuba share a number of cooperation agreements in culture, science and research and academic exchanges funded by the German Academic Exchange Service. An independent Goethe Institut can also be found in the country.
In 2016, German-Cuban bilateral trade figures stood at 225 million euros ($244.22 million).
There are a number of large German corporations that hold agreements and are involved in business and investment with Cuba.