Foreign Trade Improves Mechanism

New working protocols will be implemented in this field to boost the Cuban economy

By: René Tamayo


2017-02-25 | 13:10:45 EST

With the aim of streamlining the foreign trade, in line with the current conditions of the country, the request procedures for tender, concurrence and price analysis for import and export activities was updated.

The new protocol, which substititutes that of 2004, establishes the “tools, principles and basic norms” ruling the entities for the implementation of price analysis, before the subscribtion of foreign trade operations.

The tender procedure, preparation of documents and price analysis is compulsory for entities that carry out import and export activities registered in the National Registry of Exporters and Importers of the Chamber of Commerce of the Republic of Cuba, except for fully foreign capital companies.

In accordance with Resolution No. 16/2017 of the Ministry of Foreign Trade and Overseas Investment (Mincex), the procedure can be consulted in the Official Gazette No. 8 of last 15 February.

Minister for Foreign Trade and Overseas Investment Rodrigo Malmierca Díaz stressed that "The need to use resources efficiently for foreign trade requires a timely and efficient exit to the international market under favorable competitive conditions.”

For this purpose, a determining factor is “the adequate knowledge of the goods and services to be negotiated, foreign counterparts and their representativeness in the markets they operate, systematic investigation and observance of the most favorable market situation.”

There is also a need for “proper preparation of tender documents and the fixing of the optimum contracting price, all of which constitute key tools for the best development and achievement of the expected results in the negotiations, and allows to evaluate and measure the efficiency of Business management.”

Among other points, the protocol establishes how to proceed for import operations, how to fix prices for the export of goods and also for services. It also includes an annex with the indicators for the integral analysis of the prices in a commercial negotiation. 

The Special Official Gazette No. 8 contains Resolution No. 17/2017 of the MINCEX, which establishes the "terms that the importing entities need to consider as part of the process of negotiation and conclusion of the international contracts of sale signed by them for the importation of machinery, technological and transport equipment, as well as new and second-hand systems and facilities.”

Resolution No. 18/2017 of the same body is published in the Gazette, leaving “the constitution of the Coordinating Committees for the Procurement and Importation of Aluminum and Energy Groups without effect” as part of the “process of reorganization of the work of the Coordinating Committees on Procurement and Product Importation.”

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