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CUBA 2002

CUBA 2002. CUBA 2002. Economy and Trade. CUBA 2002. Last year, the Cuban economy and its foreign trade were adversely affected by the following factors:. Adverse Weather Conditions. (H URRICANES ). Impact on the Tourist Industry. Havana. Varadero. Jardines del Rey. N. Camagüey.

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CUBA 2002

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  1. CUBA 2002

  2. CUBA 2002

  3. Economy and Trade CUBA 2002

  4. Last year, the Cuban economy and its foreign tradewere adversely affected by the following factors:

  5. Adverse Weather Conditions (HURRICANES)

  6. Impact on the Tourist Industry Havana Varadero Jardines del Rey N. Camagüey N. Holguín Central Southern Coast Canarreos Santiago de Cuba

  7. High Oil Prices in the World Market. ( WTI)

  8. MACROECONOMIC INDICATORS PERFORMANCE

  9. Gross Domestic Product 2001 3.0% 2002 1.1%

  10. Performance of the GDP and the per capita GDP.

  11. The calculation procedure of Cuba’s GDP does not consider the actual contribution by the public health and education services, as well as other services that are underestimated because they are free. It is estimated that a proper inclusion of this services would double the value of Cuba’s GDP.

  12. Fiscal Deficit

  13. UnemploymentRate

  14. Exchange Rate

  15. Infant Mortality Rate

  16. Life Expectancy at Birth

  17. Foreign Trade

  18. Trade Number of Countries 2002 170

  19. Trade 2002 $5.575 billion

  20. Trade by Geographic Regions

  21. Main Trading Partners

  22. Sectoral Evolution of our Economy

  23. Oil and gas Extraction

  24. Nickel Production

  25. Gross Power Generation

  26. Cuba - US Bilateral Trade

  27. Sales of Agricultural Products 2001 - 2002

  28. Main Limitations US exports of non-agricultural products to Cuba are still subject to sanctions. The sale of agricultural products is subject to important restrictions.

  29. Main Limitations Export credits are not authorized for Cuba.

  30. Main Limitations US citizens are not allowed to travel to Cuba freely. Cuban exports are not allowed into the United States.

  31. Main Limitations US dollars cannot be used as a means of payment. Cuban boats cannot call on American ports.

  32. Main Limitations Cuba and US banks are not authorized to transact directly.

  33. Potential Growth of Cuba-US Bilateral Trade in Goods and Services $3 billion.

  34. Scenario: • Elimination of all economic sanctions against Cuba. • Authorization of a two-way trade. • Possibility for US investment in Cuba.

  35. The development of a Cuba-US bilateral trade would also lead to: • US sales of agricultural products amounting to no less than $1 billion. • The creation of additional jobs in both countries.

  36. A further growth of both the Cuban economy and the States that trade with Cuba. • The possibility for US investors to invest in Cuba.

  37. Conclusions

  38. The lifting of the sanctions imposed on Cuba would be beneficial for both countries.

  39. Geographical proximity and Cuba’s availability of natural resources and highly qualified labor force are advantages for the US investments in Cuba.

  40. The Cuban purchases over the last 15 months have shown that Cuban is willing and ready to normalize relations with the US.

  41. Thank you very much

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