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LatinNews Daily - 04 March 2019

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In brief: Cuba

* Cuba’s foreign trade & investment minister, Rodrigo Malmierca Díaz, has said that the country’s foreign trade increased 5% in 2018 and that Cuba had maintained a trade surplus despite the “adverse international context”. Highlighting the challenges that hinder the development of Cuba’s foreign trade, Malmierca noted the obsolescence of the national industry’s infrastructure and technology, and the need to diversify the country’s export markets. On foreign investment, Malmierca said that 38 new projects had been approved last year, and a further existing 10 had been extended. Malmierca noted that foreign investment inflows to Cuba in 2018 had exceeded US$2bn for the second year in a row (totalling US$2.41bn last year), a positive result which nonetheless remains below the country’s needs.