Cuba a Potential Market for South Korea

Cuba a Potential Market for South Korea

South Korea considers Cuba among its potential markets aimed at alleviating a setback of its exports, according to the Minister of Trade, Industry and Energy of the Asian nation.

“The government is exploring markets like Iran, Cuba, Malaysia, Cambodia and Thailand while attempting to reduce in the long run to its strong dependency of the Chinese and emerging markets”, said a Ministry official in an article published by The Korea times.

According to several analysts, the opening of Cuba’s economy to foreign investment is widely valued as a business opportunity to the Asian nation, 7 th largest exporter in the world that needs to broaden its markets with the objective of reverting its economic growth currently at a halt.

South Korea’s exports suffered last month its worst fall in 7 years and a half due to a decrease of China’s growth and the lack of demand of the world markets, issued a communique on Monday the Ministry of Trade, Industry and Energy in Seoul.

South Korea’s exports fell 8 percent to 526.9 billion dollars in 2015 due to the negative tendency.

Finance Minister Yoo II-ho said that the South Korean government will take measures to avoid a weakening of the country’s economic growth.

(Cuban News Agency)

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