Foreign companies rush to Havana with hopes of brokering business deals

Cuba

Foreign companies rush to Havana with hopes of brokering business deals1

The New Year has barely started, but already this week, both U.S. and European politicians have led trade missions to Cuba, looking to take advantage of the changes taking place there, with more due next week.

Germany’s Vice Chancellor and Economic Minister Sigmar Gabriel traveled to Havana last week along with 60 business executives. CCTV America’s Michael Voss reports.

Foreign companies rush to Havana with hopes of brokering business deals

Foreign companies rush to Havana with hopes of brokering business deals

The New Year has barely started, but already this week, both U.S. and European politicians have led trade missions to Cuba, looking to take advantage of the changes taking place there, with more due next week. Germany's Vice Chancellor and Economic Minister Sigmar Gabriel traveled to Havana last week along with 60 business executives. CCTV America's Michael Voss reports.

This German mission is the latest in a long line of foreign companies looking to do business in Cuba and be one of the first to get a foot in the door here. Many foreign businesspeople are still not sure this is a profitable place to invest, while the Cuban Government has been slow at approving what deals are on offer. The Germans did sign a provisional agreement to open an Economic Affairs Office in Havana to promote future trade and investment.

The Americans are also looking for new opportunities and last week also saw the Governor of Virginia bring a team of business and state officials to see the new deep-water port at Mariel. They signed a co-operation agreement between Mariel and the Port of Virginia in a bid to boost trade and establish direct links to Cuba.

The Anglo Dutch Multinational, Unilever, one of the world’s largest consumer goods companies, has also announced a $35 million investment to manufacture personal care and home care products in Cuba.