Country Information on Cuba | Export Development Canada

Evaluating the market in Cuba

We can help you get a better understanding of market activity, relationships and support to grow your business.

EDC Position

Open on highly restricted basis

What this means:

Reactive approach to business
EDC solutions are available on a highly restricted basis

Risk Rating

High Risk

What this means:

The Commercial Country Ceiling (CCC) Risk Rating is measured from low to high, and is meant to represent the best possible rating that can be assigned to a commercial business (obligor) in a country.

Business environment in Cuba

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.