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🇵🇾 Paraguay /Economy & Trade

Cuba’s main trade fair will go virtual as organizers seek a “successful” event

From ABC Color · () Spanish

Translated from Spanish and summarized by DistantNews. Read the original for the full story.

At a glance

Newswire Named sources New plan
  • Cuba will hold the 42nd Havana International Trade Fair virtually from Nov. 24 to 26 because of what officials called the island’s complex situation.
  • Foreign Trade Minister Óscar Pérez-Oliva said organizers hope to attract participation from companies in roughly 60 countries, the average at previous editions.
  • An in-person investment forum on Nov. 26 will present updates on Cuba’s business opportunities and its package of 176 economic and social reforms.

Cuba will move its main international trade fair online this year, but the government says the virtual format can still serve companies that remain interested in doing business on the island.

The 42nd Havana International Trade Fair, known as Fihav, will take place from Nov. 24 to 26. Foreign Trade Minister Óscar Pérez-Oliva invited all foreign companies operating in Cuba to participate, describing the event as an opportunity to respond to businesses that have not given up on staying in the country.

We do not give up the desire to develop and transform many processes related to our economy.

· Óscar Pérez-OlivaCuba’s foreign trade minister described the government’s position despite the country’s crisis.

Pérez-Oliva acknowledged that some companies may decide not to attend. He also said new participants could join to explore opportunities created by Cuba’s economic and social changes. Spain, which traditionally has a significant presence, is expected to remain involved, he said.

The minister said Cuba still hoped to reach participation levels seen in previous editions, when about 60 countries attended on average. He called the target feasible and said the fair remains recognized in Cuba and the region for helping consolidate business alliances and agreements.

It is a recognized event in our country and the region because of its role in consolidating alliances and business agreements.

· Óscar Pérez-OlivaHe explained why the government continues to promote the Havana trade fair.

Only one part of the event will be held in person. On Nov. 26, an investment forum will bring together Cuban and foreign businesspeople, along with diplomats, to present an updated portfolio of business opportunities in Cuba. Officials will also share information on 176 economic reforms and progress made by that date, especially in foreign trade, with attention to opportunities for Cubans living abroad.

Cuba approved the package of reforms in June as it seeks to liberalize and decentralize an economy facing a deep crisis. The measures include allowing private banking and strengthening economic and commercial ties with the estimated three million Cubans who live outside the island.

We think it is feasible, it is possible.

· Óscar Pérez-OlivaThe minister discussed the possibility of matching participation levels from previous editions.
About this summary

Originally published by ABC Color in Spanish. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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