Cuba and Venezuela

1
Cuba and Venezuela

• Emily Morris
• Presentation at the International Institute for
  the Study of Cuba,
• London Metropolitan University
• February 6th 2008

2
An unequal relationship?
3
Cubas recovery boosted
GDP up by 10 pa 2005, 2006, 2007
Import capacity up by 20 pa 2004,2005,2006
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by exports of goods and services
2006 Venezuela 11 of goods 50 ? of other
services 25 of total ?
1990 Russia 66 of goods
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and imports of Venezuelan oil
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and new financing
infrastructure, oil refinery
mining tourism
energy, telecoms
nickel processing, biotechnology
manufacturing
7
Cuba-Venezuela economic relations

• Cuba is the smaller partner
• Its economy is recovering
• boosted by Venezuela ALBA
• mainly through services exports
• oil imports
• and joint investment projects
• Dependency is growing

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The nature of Cubas dependency

• Venezuela the source of recent growth surge
• but still a smaller proportion of total trade
  than Russia in 1990
• and part of wider trade diversification
• Creating a new pattern of specialisation
• Overspecialisation or transferable capacity ?
• Dependency is mutual
• Professional capacity traded for oil and finance

9
CubaVenezuela what kind of partnership?
Nicaragua Cuba Dominica
Venezuela Bolivia