Havana, 13 June 2022. The Cuban representative to the 12th Ministerial Conference of World Trade Organization (WTO) denounced the economic blockade of the United States as the main obstacle to Cuba's development, media reported on Monday.
Deputy Minister of Foreign Trade and Foreign Investment, Deborah Rivas, speaking at the meeting, said that this Washington policy, enforced for over six decades, has caused serious effects and damage worth 150.410 billion dollars.
She said that the US embargo has been tightened to unprecedented levels amid the Covid-19 pandemic, and violates the principles and regulations of the multilateral trade system, according to a post on the Twitter account of the Cuban Ministry of Foreign Trade. .
Cuba is a small and vulnerable economy, not only because of its low participation in global trade and its status as an island state, but also because of the effects of the blockade, the deputy minister noted.
She added that it is the greatest hurdle to the normal development of Cuba’s legitimate commercial relations with the rest of the world and described it as an act of economic warfare in times of peace.
For example, she stressed that between January and July 2021 alone, the damage caused to Cuban foreign trade rose to 923,829 dollars, and condemned the intimidation campaign against banks, companies and businesspeople who want to do business with the island.
The blockade violates WTO’s purposes and principles, Rivas stressed and pointed out that it also violates peoples’ development, undermines the implementation of free trade based on the well-being of the population and, therefore, must be condemned.
Source: Prensa Latina