Spanish/Eng/Nat XFA Foreign investment in Cuba is rising steadily despite tough U-S trade penalties which limit the island's economic advance. Investors have committed (M) millions of U-S dollars in the face of U-S legislation that seeks to punish any business venture with Cuba. Earlier this week, three US senators visiting Havana said support for an end to the trade blockade was growing. Metanica 2000, a metals and mechanics international trade fair, opened this week in Havana with companies from 14 foreign countries taking part. It is a chance to do business in a country that talks of growth in the face of U-S economic blockade. The presence of potential Asian investors comes just days away from the launch of charter flights which will link Japan to Cuba for the first time. The other remaining foreign investors to attend were mainly European. At present, Cuba looks upon Europe and Canada as its main source of venture capital. It claims to have a potential 18-thousand products for export and Havana's eyes are firmly set on hooking the Caribbean market. SOUNDBITE: (Spanish) "In any case, we sense that more and more foreign companies are interested in doing business with us, in the field of exports, and using the production and potential of our industries in order to work in the Caribbean and Latin American markets. SUPER CAPTION: Marcelino Rodriguez, Exports Director But the U-S attempts to penalise any foreign companies linked to trade with Cuba. Its Helms-Burton legislation denies those companies access to US markets and several trade disputes with European companies have gone before the World Trade Organisation. Cuba must wait if it is to do business with one of the world's largest economic markets. SOUNDBITE: (Spanish) "We are open to working with companies from any country including North America if at some point the trade blockade is lifted on the country. This means, we are in business with the world, companies from China, Germany, Central America, Latin America, Paraguay, Argentina, that is to say, we work with wherever in the world and we are ready to continue that way." SUPER CAPTION: Marcelino Rodriguez, Exports Director Spain is Cuba's leading investor with a total capital of 200 (m) million U-S dollars. its trade accounts for 27 percent of all foreign enterprises based on the island. 3-L Internacional, an international firm that manufactures and sells industrial clothing, first set up in Cuba 10 years ago. Sales director Marcelino Pardo Lozana says Helms-Burton has not deterred investment. SOUNDBITE: (Spanish) "Without a doubt, we are already banned from entering the North American market should we ever want to enter it. We have been here for many years. It is a very well known company so we would not be allowed. But neither do we need the American market in the imperative sense. Well, companies need business to survive but we operate in other countries where we work very well, where we have already a grip on the market." SUPER CAPTION: Marcelino Pardo Lozana, Sales Director Companies like 3-L Internacional, with its history of trade with Cuba, remain confident the dividends will pay off even more when, and if, the U-S trade embargo is lifted. SOUNDBITE: (Spanish) "If tomorrow, all were to change, we would like to remain based in Cuba because from the moment you are in, we positively believe, it is very difficult to lose your momentum here." SUPER CAPTION: Marcelino Pardo Lozana, Sales Director A casual observer in any one of Havana's U-S dollar shops would have reason to think the embargo did not exist. U-S brandnames such as Kelloggs, Coca Cola, Marlborough and Winston stand openly on the shelves. And there is outspoken opposition to the trade blockade from within the U-S camp itself. You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/259ebb4bff9f4e980ce6b1ab89dffe0b Find out more about AP Archive: http://www.aparchive.com/HowWeWork

• published: 23 Jul 2015
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