Above: Havana’s Miramar Trade Centre

By the Caribbean Journal staff

Cuba and Mexico have signed a new agreement on economic cooperation, Cuba’s government announced on Monday.

The purpose of the agreement between Cuba and ProMexico, Mexico’s investment promotion arm, was for “strengthening economic relations” according to the government.

It was officially signed by ProMexico and Cuba’s Centre for the Promotion of Foreign Trade and Foreign Investment at the Miramar Trade Centre in Havana.

In a statement, Cuba said the signing “confirmed [its] willingness to relaunch bilateral ties,” following up on a meeting between Mexico President Enrique Peña Nieto and Cuba President Raul Castro in January in Havana.

In March, Cuba passed a new law in aimed at promoting foreign investment in a bid to continue its transition to what Castro called last year a “less egalitarian, but more fair” economic model.

ProMexico Director General Francisco Gonzalez is currently leading a large Mexican delegation on the island including eight government officials and 60 businessmen.