Country Information Export Development Canada South and Central America and the Caribbean

Cuba

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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

EDC Country Position – Open on highly restricted basis

Open on highly restricted basis

What this means:

  • Reactive approach to business
  • EDC solutions are available on a highly restricted basis
How does EDC determine the position?

Risk Rating

EDC Country Position – High Risk

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.

How does EDC determine the risk rating?

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

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Interested in growing your business in this market?

Speak to a Trade Advisor weekdays between 9 am to 5 pm EST.

1-888-220-0047

Or send us a question and we'll get back to you as soon as possible. Send a question

Alicia McCarthy

Senior Trade Advisor, EDC

Alicia McCarthy  Senior Trade Advisor, EDC