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http://www.dfait-maeci.gc.ca/latinamerica/cubatrade-e.asp
Canada-Cuba Trade and Investment
Even before Canada established an official relationship with Cuba in 1945, trade and investment were at the core of dealings between the two countries. This interest continues to drive our bilateral relationship. Canada's objectives in the commercial sphere include fostering the development of a stable and open environment in order to reduce uncertainty and financial risks when doing business with Cuba and, providing active assistance to Canadian businesses seeking to take advantage of commercial and investment opportunities.
The Canadian government does not impose extraordinary restrictions on the sale of Canadian goods and services to Cuba. The Department of Foreign Affairs and International Trade (DFAIT) supports trade promotion activities such as participation at Cuban trade fairs and buyers or exporters missions. The Department also supports initiatives for the development of improved market access and business conditions in Cuba, for example, the negotiation of a Foreign Investment Protection Agreement. However, since the March/April 1999 foreign policy review toward Cuba, brought on by deteriorating human rights observances, any new or expanded business initiatives will be studied on a case-by-case basis to ensure that programs reinforce areas of positive change in Cuba.
Cuba is Canada's first trading partner in the Caribbean. Canada is Cuba's third largest global trading partner (after Venezuela and Spain). Our ties are particularly strong in tourism, mining and agriculture. Twenty-six Canadian import and export companies have registered as operating offices in Cuba and according to Cuban sources, over 370,000 Canadians visited Cuba in 2000. (Canadian figures show a more modest number of almost 274,000 visitors for the same year.)
Two-way trade in 2000 totalled $736.6 million, an increase of $34.8 million over the previous year but certainly less than the total of $815.7 million that was recorded in 1998. Canadian exports to Cuba were $328.1 in 2000, compared to $396.0 in 1999 and $482.2 in 1998. Our decrease in exports is caused by increased European competition, notably Spain, France and Italy. Canada's main exports to Cuba are agri-food (cereals and meat), machinery, motor vehicles, electrical equipment and fertilizers. Cuba's exports to Canada in 2000 were $408.5 million and consisted mainly of ores and concentrates, sugar, tobacco and seafood.
Cuba is not an easy market, particularly for the inexperienced exporter. There have been instances when Canadian small and medium enterprises (SMEs) have encountered difficulties in trying to do business in Cuba simply because of the nature of Cuba's centrally planned economy which is distinctly different form other Latin countries.
July 2001
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