The XL Edition of the Havana International Fair: A Space for Economic Recovery

Expocuba serves as a space for forging alliances, conducting business, and sharing projects of common interest between Cuban and foreign entrepreneurs. Nov 4, 2024 Photo: @PresidenciaCuba

November 4, 2024 Hour: 10:40 pm

The event takes place at a critical time for Cuba, characterized by the intensification of the economic, commercial, and financial blockade imposed by the United States government.

The XL edition of the International Fair of Havana (FIHAV-2024) was inaugurated with key figures from the Cuban government in attendance, including President Miguel Díaz-Canel, the member of the Secretariat and head of its Department of Services Yudi Rodríguez Hernández, and Vice Prime Minister Ricardo Cabrisas. This event signifies an important step in Cuba’s efforts to rejuvenate its economy amid global challenges.

Oscar Pérez-Oliva Fraga, Minister of Foreign Trade and Foreign Investment, emphasized that the celebration of FIHAV-2024 aligns with the government’s commitment to advance economic development despite the complex conditions facing the country. “The participation of foreign companies and organizations is crucial in this process, and many of them are represented here,” he stated during his inaugural speech.

The event takes place at a critical time for Cuba, characterized by the intensification of the economic, commercial, and financial blockade imposed by the United States government.

🇨🇺Con la presencia del primer secretario del Comité Central del Partido Comunista y presidente de la República, Miguel Díaz-Canel Bermúdez, quedó inagurada este lunes en Expocuba la 40 Feria Internacional de La Habana.https://t.co/IN6gvS6Evw
— Cubadebate (@cubadebatecu) November 4, 2024

_{“With the presence of the first secretary of the Central Committee of the Communist Party and president of the Republic, Miguel Díaz-Canel Bermúdez, the 40th Havana International Fair was opened on Monday at Expocuba.”}

Perez-Oliva Fraga highlighted that the extraterritorial effects of these sanctions impact companies and entrepreneurs worldwide, who, despite pressures and threats, continue to invest in Cuba’s potential.

He also mentioned Cuba’s arbitrary inclusion on the list of countries allegedly sponsoring terrorism, which has negatively affected international banking relations and commercial transactions.

Despite these challenges, FIHAV-2024 presents itself as a vibrant and attractive space for international trade. With over 700 exhibitors from 63 countries and an exhibition area covering 19,400 square meters, the fair has surpassed the figures from previous editions.

The participation of more than 250 Cuban companies, both state-owned and non-state, as well as over 60 residents abroad conducting business on the island, is also noteworthy.

Pérez-Oliva Fraga highlighted the presence of Cuba’s main trading partners, such as Venezuela, China, Vietnam, Russia, Mexico, and Spain, reflecting international interest in strengthening trade relations with the island.

The program for FIHAV-2024 includes the VII edition of the Investment Forum, where an updated portfolio of opportunities for foreign investment will be presented.

This forum will feature panels and business rounds focused on promoting exports and territorial development, underscoring the Cuban government’s commitment to attracting investments that contribute to the country’s economie.

The inauguration of this fair not only represents an opportunity to strengthen commercial ties with the world but also serves as a symbol of resilience and determination in the face of adversity.

With a renewed focus on international cooperation and sustainable development, FIHAV-2024 is poised to be a fundamental pillar in efforts to revitalize the Cuban economy during these challenging times.