Cuba - Export Development Canada (EDC)
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Cuba

EDC Position-highly restricted select programs

EDC's Position

  • Reactive approach to business
  • Open on a highly restricted basis under all programs

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Country At A Glance

Flag of Cuba
Map of Cuba

Country Facts

Nominal GDP90.40 Billion USD
Population11.39 Million
Total Trade/GDP30.46%
CurrencyCuban Peso (CUP)
Merchandise Imports from Canada410.06 Million CAD
Main importsFuels, Food, Machinery & Equipment, Chemicals

EDC in Cuba

Canadian companies assisted25
Business volume189.63 Million CAD

Business Environment

Canada has an established and stable trade relationship with Cuba. There have been immediate changes following the US/Cuba rapprochement and economic benefits in terms of travel, remittances, and trade restrictions, but the US has yet to fully remove sanctions on the island, and the trade embargo remains firmly in place. President Trump announced a roll-back in June 2017 of some of the economic benefits previously announced by Obama which was seen as a setback in the US/Cuba relatinos. Cuba signed a historic agreement with Paris Club creditors in December 2015 resulting in billions of debt forgiveness. However, no short-term change is expected that would benefit Canadian exporters and investors; the economic conditions remain weak and the business climate remains challenging. 

Key Industries

  • Agriculture
  • Construction & Infrastructure
  • Consumer Goods
  • Machinery - Packaging, Industrial & Analytical Instruments
  • Services - Non-Industrial
  • Specialty Vehicle

How we can support your business

Through our Head Office operations in Ottawa, we provides support to Canadian companies planning on or currently doing business in Cuba.
 

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