The Tribune

Freeport is aiming to play the role of transportation and logistics provider as Cuba seeks to bolster its trade ties with the Bahamas.

This, and other matters, formed the basis of discussions as executives of the Grand Bahama Port Authority (GBPA) welcomed Ernesto Soberon Guzman, Cuba’s ambassador to this nation, during an official visit to Grand Bahama.

Along with tourism, other important industries in Cuba are sugar, petroleum, tobacco, construction, nickel and steel.

“Economic reforms are evolving with changes in key areas. Therefore we are very favourable to concrete and real possibilities of us doing business together,” said GBPA chairman, Ian Fair.

Ambassador Guzman added: “Prior to the 1980’s, Cuba enjoyed a very special relationship with the Soviet Union, which was very helpful to us. Now we are changing and looking to diversify.We are trying to adapt our system to the world because we are not isolated in this world.”

Cuba has a nominal GDP of $71.3 billion. Its total exports in 2010 were $3.1 billion, while imports totalled $9.6 billion.

Potential areas for future growth, such as agriculture, construction, natural medicine products and other commodities, were identified in talks between the Ambassador and GBPA.

A GBPA delegation is expected to visit Cuba’s international trade fair, scheduled to be held in November, to explore additional opportunities.

Ian Rolle, the GBPA’s president, said: “Freeport as a location probably has more opportunity to do business with Cuba than anywhere else in the Bahamas. We enjoy diplomatic relations and will diligently work together for the mutual benefit of both countries.”