Russian companies will enter the Cuban retail market

Russia will soon sell food, chemicals and other household items to Cuba through a special commercial house, official media reported on the island.

The head of the business council Russia-CubaBoris Titov, who met with the Cuban ambassador to the Eurasian nation, Julio Garmendía, explained that one of the projects consists of the creation of a joint venture with the Cuban state corporation Cimex, according to a report from the agency Latin Press (PL).

“Many Russian manufacturers are interested in promoting their products in Cuba. We hope that the new commercial house will be a unified wholesale importer of products and independently determine prices in the retail market of the Caribbean nation,” Titov said, quoted by the newspaper.

The publication explains that the Cuban government has already granted preliminary consent to the idea, while the Russian counterpart is waiting for the signing of a contract that would allow progress in solving complicated logistical problems, such as the transport of Russian merchandise and insurance.

Five foreign companies will inject Cuban trade before May

Titov also explained that another sphere of bilateral cooperation is tourism, since the flow of Russian vacationers to Cuba is gradually recovering. The possibility of building an independent hotel especially for travelers from this nation is also being considered, adds PL.

Last January Titov headed a delegation of Russian businessmen who visited Havana, where she was received by the president Miguel Diaz-Canel.

The Cuban president pointed out that the visit gave continuity to the “very satisfactory” meetings he had with Putin during his visit to Moscow in November 2022, and affirmed that there was “potential to expand cooperation, with mutual benefit.”

Cuba and Russia will collaborate in economic transformation program

Then, the decision was made to found an Economic Transformation Center to prepare “economic transformations in Cuba based on the development of private companies,” according to the Interfax agency.

Said joint center would include, on the Cuban side, representatives of key ministries and the Central Bank, and on the Russian side, experts from the PA Stolypin Institute for Growth Economicsone of the main think tank Russians, the Center for Strategic Research and the Russian Institute of Economic Forecasting.

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