UAE and Cuba Strengthen Economic Ties with Inaugural Joint Economic Committee Session

Government

UAE and Cuba Strengthen Economic Ties with Inaugural Joint Economic Committee Session

The United Arab Emirates and the Republic of Cuba have taken a significant step toward strengthening bilateral economic relations by convening the first session of their Joint Economic Committee in Dubai. The meeting aimed to enhance collaboration across critical sectors, including trade, investment, renewable energy, healthcare, infrastructure, creative industries, agriculture, and food security.

The session was co-chaired by H.E. Abdullah Ahmed Al Saleh, Undersecretary of the Ministry of Economy and Tourism of the UAE, and H.E. Carlos Luis Jorge Méndez, First Deputy Minister of Foreign Trade and Investment of Cuba. Senior officials, including H.E. Hazza Ahmed Al Kaabi, UAE Ambassador to Cuba, and H.E. Norberto Escalona Carrillo, Cuban Ambassador to the UAE, were also present, along with various government representatives from both nations.

The Committee, formed under the trade, economic, and technical cooperation agreement signed earlier, marks a major milestone in economic diplomacy between the two countries. It seeks to create new channels for public-private partnerships, promote mutual growth, and build sustainable economic models.

Trade Growth and Sectoral Focus

During the first quarter of 2025, non-oil foreign trade between the UAE and Cuba grew by 5.6% compared to the same period in 2024, continuing an upward trend from previous years. In 2024, bilateral non-oil trade exceeded USD 39.1 million, reflecting a 2% rise from 2023 and a 46.4% increase compared to 2022. More than 825 Cuban brands are now active in UAE markets.

The Committee session focused on creating a joint working framework to oversee the implementation of agreed outcomes. These include hosting business forums, trade delegations, and economic events to increase bilateral commercial cooperation and explore opportunities in biotechnology, pharmaceuticals, manufacturing, and tourism.

Boosting Entrepreneurship and Start-up Ecosystems

Both countries stressed the importance of fostering a dynamic entrepreneurship and start-up ecosystem. Discussions highlighted the role of small and medium-sized enterprises (SMEs) in driving innovation and economic diversification. Plans are underway to facilitate partnerships that will help these businesses scale internationally and boost their contribution to national GDPs.

Advancing Food Security and Agricultural Innovation

A shared commitment to food security was emphasized, with both sides agreeing to intensify trade in food commodities and enhance cooperation in sustainable farming, food processing, and agricultural technology. The partnership aims to support the adoption of modern agri-tech solutions and build resilient agricultural systems.

Expanding Tourism Cooperation

Tourism was highlighted as a key pillar of future cooperation. The two nations agreed to organize joint exhibitions, events, and conferences that promote their respective tourist destinations. Plans also include sharing best practices in tourism development, digital transformation, and statistical reporting to improve the sector’s competitiveness.

H.E. Abdullah Al Saleh stated:

“The first session of the Joint Economic Committee marks a pivotal step in enhancing UAE-Cuban relations. It paves the way for deeper engagement between our business communities, expands cooperation in priority sectors, and supports the UAE’s ‘We the UAE 2031’ vision for sustainable economic growth.”

The Committee’s outcomes are expected to create lasting opportunities for both countries, laying the foundation for a long-term strategic partnership built on mutual trust, economic diversification, and innovation.