Prof. Mincho Hristov, newly appointed Bulgarian Foreign Trade Service in Havana, Cuba visited the BCCi and talked with the President Tsvetan Simeonov

During the conversation, the priorities for increasing trade and economic relations between Bulgaria and Cuba were discussed. There is interest from Cuba in the import from Bulgaria of water pumps, mining technologies, machinery for the food industry and agriculture.

According to the Ministry of Economy and Industry, priority areas for cooperation with Cuba are the following:

The production of the food industry is insufficient and Cuba is forced to import a large part of the food, almost 80% is imported, incl. rice, milk powder, soy flour, vegetable oil, beef, pork and chicken. Some canned fish and vegetables, soft drinks, beer, rum, dairy products, ice creams are produced. This sector offers many opportunities for foreign direct investment, and for the produce there is a guaranteed market for tourism and the population.

Sugar production has been in severe crisis for years, with the 2021 / 2022 harvest having the lowest sugar yield on record in Cuba.

Cuba's industry is in serious crisis. Technologies and equipment are morally and physically obsolete, Cuban companies are not competitive in international markets because of this fact.

Cuba is the 5th country in terms of world reserves of nickel and the 3rd country in terms of world reserves of cobalt. The export of nickel is extremely important for the country. On a smaller scale, the production of gold, silver, zinc and chrome. Cuba's own oil and gas production meets about 60% of its electricity generation needs. Cuban oil is high in sulfur and cannot be refined into gasoline.