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Cuba Seeks Greater Role in Transatlantic Trade with Mariel Megaport and Foreign Trade Zone

ISSN:1089-1560
LADB Article ID: 79127
Category/Department: Cuba
Date: 2013-10-31
By: Daniel Vázquez

Mariel Bay, 45 km from Havana, will become Cuba's main port when the expansion now underway is completed at a cost of about US$950 million and, in addition, a foreign-trade zone will open to attract international business, foreign investment, and new technology, all part of President Raúl Castro's attempts to update the socialist economic model. The project is aimed at generating exports, employment opportunities, funding, technology transfer, and logistics systems and encouraging domestic and foreign companies to set up business, according to the legislative decree signed by the president and published on Sept. 23 in the Gaceta Oficial de Cuba.

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