Abe first Japanese leader to visit Cuba

Japanese companies are becoming more interested in Cuba, PM Shinzo Abe has told Cuban President Raul Castro.

Japan's Prime Minister Shinzo Abe has become the first Japanese leader to visit Cuba.

Abe met Cuban President Raul Castro and discussed the economic and trade relationship between the two countries.

"Japanese companies are becoming more interested in Cuba," Abe told Cuban communist party newspaper Granma.

"I believe they can make a contribution to Cuba which is currently updating its socio-economic model."

Cuba is slowly opening up to foreign investment and trade, however the Caribbean island nation's economy remains tightly regulated by the communist government.

Numerous government and industry delegations have travelled to Cuba to investigate the situation in the country and to look for potential investment opportunities.

In the last 10 years, Raul Castro's economic reforms have sought to focus state intervention on strategic areas such as tourism, industry and scientific research, while allowing private businesses in a historic shift.

Cuba is currently looking for new economic partners as its main ally Venezuela is currently fighting massive internal and economic problems.

In 2014, the US and Cuba announced the reinstatement of diplomatic relations, which had been on ice for 50 years.


Share
Published 23 September 2016 1:00pm
Source: AAP


Share this with family and friends


Get SBS News daily and direct to your Inbox

Sign up now for the latest news from Australia and around the world direct to your inbox.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

Download our apps
SBS News
SBS Audio
SBS On Demand

Listen to our podcasts
An overview of the day's top stories from SBS News
Interviews and feature reports from SBS News
Your daily ten minute finance and business news wrap with SBS Finance Editor Ricardo Gonçalves.
A daily five minute news wrap for English learners and people with disability
Get the latest with our News podcasts on your favourite podcast apps.

Watch on SBS
SBS World News

SBS World News

Take a global view with Australia's most comprehensive world news service
Watch the latest news videos from Australia and across the world