1. Cuba's bid for foreign investment — The Pacto por México — The Canada-EU Trade Agreement.
- Author:
- Duncan Wood, Marc Frank, and John Parisella
- Publication Date:
- 05-2014
- Content Type:
- Journal Article
- Journal:
- Americas Quarterly
- Institution:
- Council of the Americas
- Abstract:
- Cuba: Port Upgrades and Free-Trade Zones BY MARC FRANK When Latin American and Caribbean heads of state gather in Cuba in January 2014 for the Comunidad de Estados Latinoamericanos y Caribeños (Community of Latin American and Caribbean States— CELAC) summit, the agenda will include a side trip to Mariel Bay. There, Brazilian President Dilma Rousseff and Cuban President Raúl Castro will cut the ribbon on a brand new container terminal that Cuba hopes will replace Havana as the country's principal port. Brazil financed more than two-thirds of the $900 million project, built in partnership with Brazilian construction company Odebrecht over six years—providing $670 million in loans for terminal construction and infrastructure development such as rail and road. The facility, with an initial capacity of 850,000 to 1 million containers, will be operated by Singaporean port operator PSA International. The Mariel Bay facility, located 28 miles (45 kilometers) west of the capital on the northern coast, was built to attract traffic from the larger container ships expected to traverse the Panama Canal in 2015. It could also serve as a major transfer point for cargo heading to other destinations. But the competition is already fierce. The Dominican Republic, Jamaica, the Bahamas, and Panama are all rushing to improve their port facilities.
- Topic:
- Development and Government
- Political Geography:
- Europe, Canada, Cuba, Latin America, and Caribbean