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Trade Relations

Germany and Cuba Strengthen Economic Links

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Germany and Cuba strengthen economic ties during the pandemic.

Meetings have taken place between the governments and entrepreneurs of Germany and Cuba with the goal of expanding economic activities under the conditions of the coronavirus pandemic.

Recently, the Vice-minister of Foreign Trade and Foreign Investment Ana Teresita González and the German ambassador to Havana held a meeting in which they discussed the progress of economic, commercial and cooperation between both countries and ways to strengthen these relations.

PAMAS, S.A.became the first German company established in Mariel’s Special Development Zone. The German-Cuban joint venture produces and assembles industrial valves, hydraulic and pneumatic systems, as well as other components. It represents a positive step in the right direction.

This and other business actions were recently analyzed in the first virtual business meeting in the construction sector.

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The latest trade and investment review is in addition to the already existing exchange between the two countries that covers several sectors of their economies.

The sales of Cuban tobacco to the German market is an example of the progress in bilateral trade. Since last year there has been an increase of between 10 and 18% in sales depending on the type of cigar.

Last month, the Habano Cigars fair hosted by Maximilian Herzog, ‘Habano’s Man of the Year’ took place in Berlin. Herzog is the owner of two Casas del Habano (Habano Houses) in the city.

Germany is one of the first of five importers of Cuban cigars in the world. In 2019, approximately 118.1 tons of cigars and cigarillos were imported from Cuba to Germany. The Fifth Avenue Products Trading, G.M.B.H. company is the exclusive importer of Habanos and Mini Cubanos to this country.

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