Cuba Offers Security to Foreign Investors Amid U.S. Sanctions

Representatives of foreign companies accredited in Cuba learned Wednesday, first hand, the support of the authorities of the island in the face of possible demands that may arise in the context of U.S. economic sanctions that reach the largest of the Antilles.

The previous fact was highlighted by Antonio Luis Carricarte, First Deputy Minister of Foreign Trade and Foreign Investment (Mincex), in a working meeting organized by the Commerce Chamber in the National Hotel of Havana.

During the meeting, the vice minister first praised the high representation and thanked them for coming to the call.

He stressed that the US economic, commercial and financial blockade has had a regrettable effect on the Cuban people for almost 60 years, with damages that already cost more than 134 billion dollars.

He commented that the U.S. government recently authorized Title III of the Helms-Burton Act, which allows action to be taken in U.S. courts before lawsuits against Cuban and foreign entities outside the jurisdiction of that country.

In this context, he reiterated his opposition to the blockade and to its new measures to intensify the immoral policy that seeks to isolate and suffocate Cuba, and expressed the support of the authorities to foreign businessmen in the current circumstances.

As established in Law 80, on the Reaffirmation of Cuban Dignity and Sovereignty, Helms-Burton is illegal, inapplicable and without any legal value or effect, so you can count on our accompaniment to face any attempt to affect your business in the Largest of the Antilles, he said.

Likewise, he recognized that the Cuban economy is going through a complex situation, and announced that in this context he plans to take measures that favor foreign relations and increase the possibilities for foreign investment.

The director general of the Ministry of Foreign Affairs for the United States, Carlos Fernández de Cossío, added that the frank hostility of the US government towards the Largest of the Antilles is also expressed in the prohibition that cruise ships can transport visitors from the Anglo-Saxon country to the Caribbean nation, which means a strong blow to that industry and to Cuba’s aspirations regarding the reception of visitors.

He also said that the intentions of undertaking new measures against Cuba are known with the clear objective of suffocating the economy, generating scarcity, shortages, damaging productive processes and social services, and with it, harming the living standards of the population, and thus wrenching political concessions from the Caribbean government and nation.

He explained that for some time now, U.S. citizens, as a trend, aspired to a respectful and civilized dialogue between the two countries, so that political groups with extreme attitudes have taken advantage of the current government of Washington to demolish the advances and put obstacles that hinder the rapprochement in the future.

He mentioned that the unfounded Act is based on two great falsehoods: that Cuba constitutes a threat to the national security of the United States; and that the nationalizations carried out after the triumph of the Revolution were undue and illegal.

The official also said that Helms-Burton is seeking to internationalize the US blockade, frighten investors and impose enough obstacles to make it impossible to improve relations between the two nations.

However, he assured that Cuba has been suffering from U.S. hostility for 60 years, so the Island is capable of preparing to adjust its economy and adopt the necessary steps to face the impact of U.S. sanctions.

He added that there is a legislative body that rejects the existence of Helms-Burton and establishes how the economy and foreign partners will be protected. He stressed that Cuba does not intend to interrupt the degree of interaction that has been taking place in recent years with U.S. society as a whole.

Orlando Hernandez, president of the Commerce Chamber of the Republic of Cuba, pointed out that since 1992 the condemnation of the blockade has received more than 4,500 votes in the world, and that Helms-Burton has no applicability whatsoever in the Largest of the Antilles, what has been denied since the Constitution approved last April.

The foreign entrepreneurs with businesses in Cuba took advantage of the meeting to confirm their desire to accompany the economic development of the Caribbean country, at the same time that they criticized the U.S. pressures against the island.

(Taken from ACN in Spanish)

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