The UAE Ministry of Economy and Tourism and the Ministry of Foreign Trade and Foreign Investment of the Republic of Cuba have held the first session of the Joint Economic Committee in Dubai, a key outcome of cooperation agreement signed between the two countries.
Through this move, they aim to enhance the bilateral economic ties across various sectors such as trade, investment, energy, renewable energy, agriculture, food security, infrastructure, transport, logistics, creative and cultural industries, healthcare, tourism, biotechnology and pharmaceuticals.
The Joint Economic Committee was co-chaired by H.E. Abdullah Ahmed Al Saleh, Undersecretary of the Ministry of Economy and Tourism, and H.E. Carlos Luis Jorge Méndez, First Deputy Minister of Foreign Trade and Investment of Cuba.
The session was attended by H.E. Hazza Ahmed Al Kaabi, the UAE Ambassador to Cuba and H.E. Norberto Escalona Carrillo, Cuban Ambassador to the UAE. The senior government representatives from both nations were also present.
H.E. Abdullah Ahmed Al Saleh Undersecretary of the Ministry of Economy and Tourism
“The convening of the first session of the Joint Economic Committee between the two nations marks a pivotal step in advancing economic and investment relations between the UAE and Cuba. It paves the way for broader cooperation across priority sectors, deeper engagement between the two countries’ business communities, and unlocking promising opportunities in both markets, all supporting the UAE’s strategic goals under the ‘We the UAE 2031’ vision.”
They will create a collaborative framework to oversee the implementation of committee outcomes to strengthen the UAE-Cuba cooperation in the coming period. In addition, both countries will organize joint business forums and economic events, facilitating trade delegation exchanges and exploring new opportunities to expand bilateral commercial relation.
During the meeting, the UAE and Cuba reaffirmed their commitment to enhancing trade flows and investment exchanges between Emirati and Cuban business communities.
Both nations also highlighted the importance of developing partnerships in the entrepreneurship and start-up ecosystem to fuel the growth of small and medium-sized enterprises (SMEs), increase their investments, support international expansion and boost their contribution to national GDPs.
To enhance trade in food commodities and agricultural products, the two sides will work together on sustainable farming practices, food processing and agricultural technology.
Understanding tourism sector’s key role as a driver of growth. They aim to organize joint tourism exhibitions, events, and conferences to spotlight the major tourist attractions and historical landmarks in both countries. It also includes exchanging expertise on tourism development, compilation of tourism statistics, and digital innovations and technologies.
Furthermore, the non-oil trade between the UAE and Cuba continue to witness significant growth, exceeding $39.1 million in 2024, marking an increase of over 2 percent compared to 2023 and 46.4 percent growth compared to 2022.
In the first quarter of 2025, the bilateral non-oil trade between the two countries increased by 5.6 percent compared to the same period of 2024 and over 25 percent from Q4 2024. Currently, over 825 Cuban brands are actively operating in the UAE.
