The President of the Chamber of Commerce and Investment (BCCI) of Barbados, Eddy Abed, presided over the delegation of that entity to the International Fair of Havana (FIHAV-2017) and with the presence of the Minister of International Business, Donville Innis, signed a Memorandum of Understanding with the President of the Chamber of Commerce of Cuba (CCC), Orlando Hernández Guillén, thus fulfilling the objective outlined with a view to promoting greater economic interaction between both countries. Aware of the facilities provided by two important legal instruments in force such as the Double Taxation Agreement and the Treaty of Reciprocal Protection and Promotion of Investments, both entities intend to strengthen their bilateral ties, which in turn can benefit from the Trade and Cooperation Agreement Economic agreement signed by CARICOM and Cuba, which was recently updated. (See text of the document)
MEMORANDUM OF UNDERSTANDING BETWEEN THE CHAMBER OF COMMERCE OF THE REPUBLIC OF CUBA AND THE CHAMBER OF COMMERCE AND INDUSTRIES OF BARBADOS
The Chamber of Commerce of the Republic of Cuba and the Chamber of Commerce and Industries of Barbados, who may be referred to in this document together as THE PARTIES, agree to sign this Memorandum of Understanding with the aim of consolidating business relationships between the Republic of Cuba and the Chamber of Commerce and Industries of Barbados agreeing the following:
1. THE PARTIES will collaborate and give their best efforts in order to strengthen and develop commercial activity and investments between the Republic of Cuba and Barbados.
2. THE PARTIES will regularly exchange market information and data related to trade between both countries. By virtue of this provision, the Parties agree to facilitate access to commercial bulletins issued by both institutions.
3. THE PARTIES will support, whenever possible, in the organization of the missions and visit of business delegations of the members of both institutions between the two countries.
4. THE PARTIES shall promote the participation of their members in trade fairs, exhibitions, seminars, symposiums, conferences and other similar events that are held in both countries and whose purpose is the expansion of trade between both nations.
5. THE PARTIES will organize meetings and seminars in each of their countries to promote investment opportunities, promote joint projects, as well as other commercial opportunities that may be available in both countries.
6. This Memorandum will enter into force on the date of its signature by the authorized representatives of THE PARTIES and will take effect unless either of the two institutions gives the other, at least three (3) Months of modification or termination.
Done and signed on October 30, 2017, in two originals, in the Spanish and English languages, both texts having equal validity.
By Barbados Chamber of Commerce and Industry, Edward Abed, President
By Chamber of Commerce of the Republic of Cuba, Orlando Hernández Guillén, President