Are you looking for an easy way to ship your cargo to Cuba? Choose the best freight forwarder to transport your goods to Cuba safely and on time.
Exporting goods to Cuba, whether it is for the first time, or on a regular basis, can be a challenging experience.
There are many elements to consider when shipping to a country such as Cuba. If you are in Canada or the US and not entirely familiar with the Latin American market, you should consider a cargo shipping company that knows the business culture, the language, the customs regulations and has a proven track record of success when it comes to shipping to Cuba.
WHAT CAN YOU EXPECT IN CUBA?
Regulations in Cuba are not only very different from the ones in the US or Canada, communication methods and business etiquette are also very distinct: ● Corporate culture in Cuba is relationship-driven. Known as highly educated, warm and friendly people, Cubans are generally recognized for being easy to deal with. They are eager to do business with foreigners although a strict bureaucratic protocol must be followed and requires patience. Cubans attach great importance to developing personal relationships, rather than formal business connections which is the norm in the US or Canada. Therefore, it is important to develop easy going business “friendships” as Cubans may be more loyal to you personally rather than to the company you represent. ● Flexibility and spontaneity are also common traits of Cubans although in Cuba punctuality is highly valued in business. ● It is also important to consider the language as a possible barrier. Although most highly educated business executives speak English fluently, the average person speaks only Spanish.
QUICK FACTS ABOUT CUBA (2018)
- Capital: Havana
- Other Large Cities: Santiago de Cuba, Camagüey, Holguín, Guantánamo, Santa Clara
- Population: 11,484,636 (Urban Population: 77.0%)
- Official languages: Spanish
- Time Zone : GMT - 4
- Currency: Cuban Peso (CUP)
ECONOMIC SNAPSHOT ( Source: IMF - World Bank, 2018)
- GDP: 100 billion USD (GDP Growth: 2.2 % / GDP per capita: 8,821.82 USD)
- Inflation Rate: 4.5%
- Unemployment Rate: 2.2%
- Total Imports of Goods: 10 billion USD
- FDI Inward Flow: N/A
- Ease of Doing Business Score : N/A
WHY DOING BUSINESS WITH CHILE IS THE RIGHT DECISION
Since 1962, the US embargo on Cuba has not allowed trade activity between these countries. The Cuban economy is still affected by the embargo, however some slow but steady changes have been recently possible. Today, Cuba represents a relatively untapped market for companies looking to expand internationally, offering business openings for international exporters. Its vast agricultural and mineral resources as well as oil and gas reserves represent a very unique and unparalleled opportunity for newcomers. Apart from all its natural resources, the Cuban population undoubtedly represents a potential market for goods made in the US, Mexico and Canada. After generations of embargo sanctions, there is great hope for business in future years. Also, Cuban infrastructures needs in the area of telecommunication, construction, transport, logistics facilities, healthcare are huge and will require massive importation from foreign countries and especially from US and Canada. With LAC by your side you will reinforce your company’s cargo shipping capability to Cuba Our experienced professionals are very familiar with the market requirements in Cuba which is very important to avoid delays during the importation process. We provide you with all the necessary tools to break into the Cuban market, headache free.
CUBA TRADE OVERVIEW
- MAIN IMPORTS: Petroleum, poultry meat, wheat, concentrated milk, maize, rice, medical apparatus
- MAIN EXPORTS: Raw Sugar, Cigar, Nickel Mattes, Liquor, Crustaceans
- INDUSTRIES WITH STRONG BUSINESS OPPORTUNITIES: Mining Equipment, Agriculture Equipment, Telecommunication, Construction, Transport, Logistics Facilities, Healthcare
- PRINCIPAL TRADING PARTNERS: China, Indonesia, Singapore, Lebanon, and Europe (Spain, Germany, Switzerland)