WHILE the United States warehouse shopping enterprise, PriceSmart is currently engaged in a controversial decision to discontinue business transactions with Cuban diplomats and other nationals in the Caribbean Community countries, the Cuban government is vigorously pursuing new foreign policy and investment initiatives designed to boost diversified domestic economic development.The multi-dimensional approaches provide for structured dialogue with the European Union (EU) as well as for accelerating the development of “prosperous and sustainable socialism”, according to “Granma”, organ of Cuba’s governing Communist Party.
A core dimension of these far-reaching approaches–since the historic Cuban revolution of 1959,—is to also finally overcome persistent hurdles of America’s more than half a century of a crippling economic blockade.
Details of the proposed new EU/Cuba relationship are still being formulated, but the Havana administration of President Raul Castro, has already signalled its interest to make into a reality this hitherto elusive relationship with the EU.
Last month, on March 29, Cuba’s National Assembly approved legislation to anchor the crafted new foreign investment policy against the backdrop of structured consultations across the Caribbean island state that has been coping with the enormous political and economic pressures—including acts of terrorism from the USA just some 90 miles away from its shoreline.
The Caribbean Community, which had played a most significant role in breaking the diplomatic isolation of Cuba in the 1960s, is to be officially apprised of the new foreign investment law as well as the pursuit of Havana’s new policy in developing mutually satisfactory relations with the EU.

The CARIFORUM
In this regard CARICOM is expected to play an enabling role via the existing mechanism known as CARIFORUM that comprises the 15-member Community plus Dominica in dealing with the EU. The Guyana-based CARICOM Secretariat also holds functional responsibility for CARIFORUM in cooperation with the EU.
Contrary to speculations being fanned about so-called “uneasiness” within segments of CARICOM’s private sector about Community partner states being disadvantaged by Cuba’s emerging initiatives based on its new foreign investment law as well as its proposed political choreography with the EU, the government in Havana has no intentions of “weakening but certainly strengthening” relations with this Region, according to its diplomatic personnel.
Consistent with this policy of continuing “fraternal relations” with governments across continents, the administration in Havana is expected to forward its approved foreign investment law as well as relevant information on new approaches in Cuba’s proposed new relationship with the European Union.
Meanwhile, the political hiccup that recently developed between Cuba’s diplomatic and other personnel within CARICOM and the USA’s PriceSmart (as reported in last Sunday Sun), would be altogether irrelevant to coming new initiatives to enabling Cuba to more effectively combat the social and economic consequences of the USA’s 52-year old trade, financial and economic embargo against that Caribbean nation.
Cuba’s new foreign investment law and reaffirmation of support for an end to the US economic blockade against that Caribbean partner state will be among foreign policy issues for discussion at the forthcoming annual Heads of Government Conference scheduled for July in Antigua.
Analysis by Rickey Singh