Cuba
Cuba is an archipelago with a surface of some 111,000 km2, thus a little less than 3 times the size of Switzerland. The main island’s coastline boarders the Gulf of Mexico, the Atlantic Ocean and the Caribbean and the island is just 90 miles south of Key West in Florida. Cuba has important mineral resources such as nickel, cobald, copper and gold, among others. In 2004, about 75 pct of Cubas energy needs are covered by domestic crude oil and natural gas.
Out of the 11.2 million inhabitants, almost three million reside in Havana which is as well the political, economical and cultural centre of the island. Together with Trinidad, a Cuban city located on its south coast, Old Havana was declared World Heritage Sites by the United Nations.
Cuba’s welcoming population is a wide mosaic of races and cultures, having its roots mainly from Spanish colonialists and African and Asian slaves. Today, the literacy rate in Cuba is 99.8%, there is a doctor for every 168 inhabitants, the life expectancy is over 77 years and the infant mortality is as low as 5,3 per 1000 births – sounding results for a developing country. In 2007, the United Nations Development Program estimated a Purchasing-Power-Parity (PPP) figure of USD 6,400 of income per person/year. As per UN Human Development Index, Cuba ranks 48th in 2008 out of 189 Nations.
The average annual temperature of 26ºC (79ºF), an inviting topography of hilltops alternating with the most beautiful beaches, the charming people, the excess of culture and rhytm and much more convert tourism into today’s economical key driving force.
Milestones in history
National Day:
1st of January, Liberation Day. Anniversary of the Triumph of the Revolution.
Government:
Council of Ministers is the highest executive and administrative body and reports to the National Assembly. President as of 24.2.2008: Raúl Castro Ruz, who is simultaneously the First Secretary of the Communist Party.
www.cubagov.cu = Official Cuban Government site
Economy:
Recovery from downfall after the collapse of the Socialist trading partners as of 1989. Nowadays, beside sugar, all export sectors exceed volumes of 1989 and Governmental statistics state that Cuba’s economy grew by an annual average of 8% as of 2004. Economic growth in 2005 was estimated to be 6.4% by the Economist Intelligence Unit (EIU).
High import prices and falling export prices, combined with the impact of the 2008 hurricane season and the international financial crisis, led to a tight liquidity and a reduced growth projection for 2009.
Health, biotechnology, retail, communication and finance are sectors that showed positive growth. Again, particularly important and today Cuba’s number one source of convertible revenue is tourism. In 2007, Cuba received, through its 7 international airports, 2'150'000 tourists, mainly from the Europe and Canada.
www.cubatravel.cu = Cuban Ministry of Tourism
www.minvec.cu = Cuban Ministry for Foreign Investment
www.cpi-minvec.cu = Cuban Investment Promotion
Law No. 77 on Foreign Investments
Agreement 5290 on Joint Production and Service management
Cuban Foreign Investment Legislation and Taxation in Cuba
Trade:
Similar to Switzerland, trade has tradition in Cuba. Export commodities are well known: sugar, tobacco, and rum but as well niquel (first income source in 2007), coffee, fish/shrimps/lobsters, medicine and citrus. The proceeds from non-traditional export products are increasing. Imports are mainly related to energy, food commodities and equipment.
During the nineties, some 80% of the trade volume was with the European Union (in particular Spain) and Canada. The US Trade Sanctions and Reform Export Enhancement Act of 2000, which authorizes US companies to sell food commodities to the Cuba on a cash-basis only, evidences a strong shift of origin in food imports. As of December 2001, Cuba imported for more that USD 1 billion worth of food from the US.
The recent government/government agreements with Venezuela, China and Brazil, among others, evidence increased commercial flows with these countries. Recent economical reforms should enhance the payment guarantees in foreign trade operations.
The Bolivarian Alternative for Latin America and the Caribbean (ALBA), established in 2004 by Venezuela and Cuba, also includes Bolivia (2006), Nicaragua (2007), the Caricom States Dominica, Saint Vincent and Antigua (2007) and Honduras (2008). The „Banco del ALBA“ with headquarters in Havana and a capital of USD 2 bn realizes development projects among the member states.
www.camaracuba.cu = Chamber of Commerce of Cuba, Havana
www.opciones.cubaweb.cu = Commercial and Financial Weekly
Relation Switzerland:
Little commercial exchange between both countries (less than 0,1% of Swiss exports/imports. However, some 25,000 Swiss tourists visit Cuba each year. Several Swiss MNC opened a branch in Havana. In 1996, Representatives of both Governments signed the Swiss-Cuban Agreement for the Promotion and Protection of Investments.
The visit of a delegation of the Swiss Government to Havana in March 2005 strengthens the bilateral cooperation and economical exchange. On
For additional information as well as business opportunities we kindly invite you to contact our Secretariats.
Other useful links:
www.emba.cubaminrex.cu/Default.aspx?tabid=4214 = Embassy of Cuba in Switzerland
www.cubarte.cult.cu = Cuban Ministry of Culture
www.creart.cult.cu/pub/cartelera/index.php = Concerts, Theatres, Art – Where to go in Havana?