The signing of a bilateral agreement between the European Union and Cuba is seen as the first step toward normalizing political and economic relations with the Caribbean island nation.
The European Union has signed a first-ever bilateral trade agreement with Cuba, according to a statement from the EU delegation to Cuba.
The EU-Cuba Political Dialogue and Cooperation Agreement (PCDA) is seen as a “historic step” in normalizing diplomatic and economic relations with the Caribbean island nation. The signing made official a preliminary agreement between the two in March, negotiations for which began back in April 2014.
The PDCA, which still requires ratification by the European Parliament, includes three main chapters on political dialogue, cooperation and sector policy dialogue, focusing on modernizing the Cuban economy, promoting trade, fostering sustainable development, democracy and human rights, and finding common solutions to global challenges.
“The aim of the PDCA is to create a more predictable and transparent atmosphere for economic operators and increase their economic capacity to produce, trade and create jobs, but it does not establish a free trade area between the parties or cover investment protection,” according to the EU.
“We are truly at a turning point in the relations between the EU and Cuba,” Federica Mogherini, the high representative of the EU for foreign affairs and security policy, said of the agreement. “Together, we are moving towards a closer and more constructive partnership, one that reflects strong historic, economic and cultural ties that unite Europe and Cuba.”
The EU is Cuba’s second-largest trading partner after Venezuela and accounts for about one-third of its tourists, according to the EU, but relations have long been strained due to Cuba’s record of human rights abuses.
The European Union and Cuba established diplomatic relations in 1988, followed by the opening of an EU representation office in Havana in 2003, which then became the official EU delegation to Cuba in 2008.
According to a report in the Wall Street Journal, Mogherini on Monday noted recent protectionist sentiments espoused by President-elect Donald Trump, but said the new administration’s choices wouldn’t impact the EU’s relationship with Cuba.
President Barack Obama in early 2015 began the process of reopening ties with the Communist country after more than 60 years of Cold War-era economic sanctions and trade embargoes, which have also made it more difficult for EU companies to do business there.
The U.S. government in March announced several regulatory changes to make it easier for Americans to travel to and engage in trade with Cuba following an agreement to establish embassies in their respective capitals in July 2015. Those changes came on the heels of an agreement to reestablish scheduled air service between the two nations with up to 110 non-stop flights on a daily basis.
“The developments in Washington that will come as of the end of January onwards will not affect in any way the relations between the European Union and Cuba,” she said. “We are friends, we are partners. We want to work together and we will work together. The impact of this on others, it’s not for me to judge.”
EU, Cuba sign bilateral diplomatic agreement
