The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

THE Bahamas Chamber of Commerce and Employers Confederation (BCCEC) is expecting to sign a Memorandum of Understanding (MoU) with its Cuban counterpart to advance trade between the two countries.

Stressing the desire for a reciprocal trade arrangement, BCCEC chief executive, Edison Sumner, told Tribune Business that a Chamber team is heading to Cuba next week on the invitation of the Castro government and the Cuban Chamber of Commerce.

“While we are there we are looking forward to signing on to a Memorandum of Understanding between the Cuban chamber and the Bahamas Chamber of Commerce,” he said.

“That MOU has been drafted, and will be to advance the level of collaboration and trade opportunities between Cuba and the Bahamas. We expect to participate in the Cuba trade forum that is happening in Santiago de Cuba.”

Mr Sumner added: “We are looking to open the channels for networking and synergies, and hopefully find some reciprocal arrangements in Cuba where not only are we seeking to do business there, or them do business here, but how we can collaborate for mutual benefit for the Bahamas, Bahamian businesses, as well as Cuba and Cuban businesses.

“We are not looking for a one-sided relationship.We are looking for a reciprocal relationship where both sides will benefit economically, and otherwise form the exchange that we are going to be developing with Cuba over the course of the next several weeks.”

    Mr Sumner said the timing of the Chamber’s trip “couldn’t be better”, with the US and Cuba agreeing to re-open embassies in each other’s capitals.

Havana and Washington are expected to restore full diplomatic relations and open embassies on July 20. 

“That take us right into the end of our visit. Perhaps we might find a way to extend our stay just to witness this historic move,” said Mr Sumner.