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Cuba, Mexico expand ties.

Mexico will increase quotas to import Cuban rum and cigars, as part of a renegotiation of the economic complementary agreement (ACE 51) between the two countries, reports The Economist (Oct. 7, 2014). The island will export one million 350,000 liters of rum to the Mexican market every year, as had been taking place, but now it will have the right to higher figures, according to the agreement that the Secretariat of Economy (SE) will publish, says Prensa Latina news agency. Mexico granted Cuba an annual increase of 100,000 liters in the quota of rum for six years and an increase of 50,000 liters in the seventh year, until reaching a maximum of two million. The availability to import Cuban cigars, which will be over two million units, was also doubled. Other expansions include $2,195,000 worth of medicaments, 300 tons of lobster and 100 tons of shrimp, and $700,000 worth of clothes. The SE will also announce the third protocol additional to the ACE 51, through which customs preferences in 3,939 classifications of products are given.

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Publication:Caribbean Update
Article Type:Brief article
Geographic Code:5CUBA
Date:Nov 1, 2014
Words:182
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