Wednesday 29th April 2015

London business chief signs deal with Havana to increase trade

In an effort to increase trade between London and Cuba, London Chamber of Commerce has this week signed a bilateral Memorandum of Understanding between the two.

This is part of a week-long British business delegation to Cuba, led by Lord Hutton of Furness, President of the Cuba Initiative, which aims to boost bilateral trade and open up business opportunities in Cuba for UK exporters, which are currently underrepresented in the Cuban market. The trade mission is supported by both the British and Cuban Governments.

The mission follows the US announcement in December last year of a change in policy towards Cuba, involving the restoration of diplomatic relations and freer travel by US citizens to Cuba.

There are a number of business opportunities for British firms in Cuba, with the top UK exports to the country ranging from food and livestock, animal and vegetable oils to manufactured products, machinery and transport equipment.

Colin Stanbridge, London Chamber of Commerce Chief Executive, who signed the Memorandum of Understanding with Cuban Chamber of Commerce President, Orlando Hernandez Guillen said: "Cuban relations with the US, EU and UK are evolving and the Cuban government are making a renewed effort to attract inward investment from overseas, as well as encouraging increased export activity from these areas.

"Opportunities for British firms in Cuba are on the increase and I am delighted that London Chamber of Commerce & Industry signing this Memorandum of Understanding should help to encourage more businesses to consider entering the market."

ENDS

Media contact
Jo Hooper, Press & Media Relations Manager
T: +44 (0)20 7203 1897
M: +44 (0)7827 241528
E: jhooper@londonchamber.co.uk

NOTES TO EDITOR:

1. London Chamber of Commerce and Industry (LCCI) is the capital's largest and most representative business organisation, with members ranging in size from multi-national companies to SMEs and sole traders.
2. Colin Stanbridge is available for further comment and interview.