US business leader briefed on Cuba economy

By Neysi Hernández

HAVANA (AA) – The head of the U.S. Small Business Administration on Wednesday wrapped up a two-day visit in Cuba, where she held meetings with high-level officials and was briefed about the country’s economic model.

The visit by Maria Contreras-Sweet coincides with discussions by the Cuban Communist Party that recently said it would recognize the existence of small and medium enterprises.

Contreras-Sweet held meetings with Foreign Trade and Investment Minister Rodrigo Malmierca, as well as with the heads of interior trade and labor and social security.

According to a note from the foreign Affairs ministry, in her meeting with Malmierca, Contreras-Sweet learned about the process of updating Cuba’s economic model, a national plan for economic and social development through 2030 and the role it plays in managing the economy.

She also was briefed about obstacles to the island’s economic, financial and trade advancement which include the U.S. blockade.

Contreras-Sweet toured the Special Area Development Mariel where a project has been launched to promote sustainable economic development by attracting foreign investment, technological innovation and industrial concentration.

Nespresso, Nestle SA group, recently announced that by the end of the year, Cuban coffee would be sold in the U.S. for the first time. The U.S. State Department added coffee and other products to its list of eligible imports produced by independent Cuban producers.

Contreras-Sweet was part of the official American delegation that accompanied President Barack Obama to Cuba in March.

Beginning in late 2014, the Cuba and the U.S. began a complex process toward normalizing relations after more than half a century of hostilities.

The Small Business Administration provides loans and other forms of support to nearly 30 million small businesses across the U.S., making up about half of all employment in the private sector.