Blog Image

La Lente del Jurista

Estimado lector/a

Este blog es un espacio para el debate e intercambio de ideas y opiniones sobre temas de actualidad relacionados con el Derecho y la Economía.

Dear readers, this blog is a space for debate, exchange of view and opinion about the economic and legal today.

Teoría de Contratos gana Premio Nobel de Ciencias Económicas 2016/Contract Theory Wins Nobel Prize in Economic Sciencies 2016

Economía Posted on Oct 11, 2016 06:59PM

Las economías modernas se mantienen unidas por
innumerables contratos. Las
nuevas herramientas teóricas creadas por Hart y Holmström son valiosos para la
comprensión de los contratos de la vida real y las instituciones, así como los
peligros potenciales en el diseño del contrato.

¿Qué tipo
de empresas deben fusionarse, cuál es la combinación adecuada de deuda y
financiación de capital, y cuándo instituciones como escuelas o prisiones
deberían ser de propiedad privada o pública?,
son algunos de los
temas que hayan herramientas teóricas para su estudio, a través de esta
investigación.

Muchas
relaciones contractuales de la sociedad incluyen aquellas entre los accionistas
y la dirección ejecutiva superior, una compañía de seguros y los propietarios
de automóviles, o una autoridad pública y sus proveedores. Como
este tipo de relaciones suelen implicar conflictos de interés, los contratos
deben ser diseñados adecuadamente para garantizar que las partes tomen
decisiones mutuamente beneficiosas. Los
galardonados este año han desarrollado la teoría del contrato, un marco global
para el análisis de muchas cuestiones diversas en el diseño contractual, tales
como el pago basado en el rendimiento para los altos ejecutivos, deducibles y
copagos en el seguro, y la privatización de las actividades del sector público.


A
finales de 1970, Bengt Holmström demostró cómo un principal (por ejemplo, una
compañía de accionistas) debe diseñar un contrato óptimo para un agente (CEO de
la compañía), cuya acción es en parte no observada por el director. El
principio de capacidad informativa de Holmström indicará de forma precisa cómo
este contrato debe vincular la retribución del agente a la información
relevante para el rendimiento. Usando
el modelo básico principal-agente, mostró cómo el contrato óptimo pesa
cuidadosamente los riesgos frente a los incentivos.

En
un trabajo posterior, Holmström generalizó estos resultados a la configuración
más realistas, a saber: cuando los empleados no sólo son recompensados ​​con
sueldo, sino también con la promoción del potencial; cuando
los agentes gastan esfuerzo de muchas tareas, mientras que los directores
observan sólo algunas dimensiones del desempeño; y
cuando los miembros individuales de un equipo pueden liberar-aprovecharse de
las actividades de los demás.

A
mediados de la década de 1980, Oliver Hart hizo contribuciones fundamentales a
una nueva rama de la teoría de los contratos que se ocupa del caso importante
de contratos incompletos.

Debido a que es imposible que un contrato pueda
especificar todas las eventualidades, esta rama de la teoría explica las
asignaciones óptimas de los derechos de control: el que las partes del contrato
deben tener derecho a tomar decisiones y en qué circunstancias? Los
hallazgos de Hart sobre contratos incompletos han arrojado nueva luz sobre la
propiedad y el control de las empresas y han tenido un gran impacto en varios
campos de la Economía, así como las Ciencias Políticas y el Derecho.

A
través de sus contribuciones iniciales, Hart y Holmström lanzaron la teoría del
contrato como un fértil campo de la investigación básica. Durante
las últimas décadas, también se han explorado muchas de sus aplicaciones. Su
análisis de los acuerdos contractuales óptimos establece una base intelectual
para el diseño de políticas e instituciones en muchas áreas, desde la
legislación sobre quiebras hasta las políticas constitucionales.

Contract Theory Wins Nobel Prize in Economic Sciences 2016

Modern economies are held
together by innumerable contracts. The new theoretical tools created by Hart and Holmström are
valuable to the understanding of real-life contracts and institutions, as well
as potential pitfalls in contract design.

Society’s many contractual relationships include those between
shareholders and top executive management, an insurance company and car owners,
or a public authority and its suppliers. As such relationships typically entail
conflicts of interest, contracts must be properly designed to ensure that the
parties take mutually beneficial decisions. This year’s laureates have
developed contract theory, a comprehensive framework
for analyzing many diverse issues in contractual design, like performance-based
pay for top executives, deductibles and co-pays in insurance, and the privatization
of public-sector activities.

In the late 1970s, Bengt Holmström demonstrated how a principal (e.g.,
a company’s shareholders) should design an optimal contract for an agent (the
company’s CEO), whose action is partly unobserved by the principal. Holmström’s informativeness
principle stated precisely how this contract should link the agent’s pay
to performance-relevant information. Using the basic principal-agent model, he
showed how the optimal contract carefully weighs risks against incentives. In
later work, Holmström generalized these results to more realistic settings,
namely: when employees are not only rewarded with pay, but also with potential
promotion; when agents expend effort on many tasks, while principals observe
only some dimensions of performance; and when individual members of a team can
free-ride on the efforts of others.

In the mid 1980s, Oliver Hart made fundamental contributions to a
new branch of contract theory that deals with the important case of incomplete
contracts. Because it is impossible for a contract to specify every
eventuality, this branch of the theory spells out optimal allocations of
control rights: which party to the contract should be entitled to make
decisions in which circumstances? Hart’s findings on incomplete contracts have
shed new light on the ownership and control of businesses and have had a vast
impact on several fields of economics, as well as political science and law.
His research provides us with new theoretical tools for studying questions such
as which kinds of companies should merge, the proper mix of debt and equity
financing, and when institutions such as schools or prisons ought to be
privately or publicly owned.

Through their initial contributions, Hart and Holmström launched
contract theory as a fertile field of basic research. Over the last few
decades, they have also explored many of its applications. Their analysis of
optimal contractual arrangements lays an intellectual foundation for designing
policies and institutions in many areas, from bankruptcy legislation to
political constitutions.



Cuba: on the way to socialist market economy?

Economía Posted on Apr 26, 2016 11:56AM

Congress of Cuban Communist Party is over. It marked a
milestone in transformation process Cuba lives now. In few words of opening-speech
the Cuban President Raul Castro stated clearly the new economic and political
model Cuba aims to establish.

Raul Castro’s speech was transcendental. It showed a breaking
with the old soviet model, characterized by whole state-owned property and centralized
planned economy. His statement that market economy and planning can in fact
coexist is deciding to understand the next steps and measures Cuba will take in
the future. It is the same reform that China and Viet Nam are doing now but
with a different name, stated Cuban President.

Cuban transformation lies on the economic opening to foreign
investment and promoting the development of private sector which has a huge
stake in the success of economic reform. It foresees medium-term private small
and middle enterprises will have a ca. 70 percent share of BIP. Private small firms
are very dynamic and can take over a wide-range of production and services more
efficient than the state-owned firms. Thus state can liberalizes many economic
activities it monopolizes today and concentrate on the most important sectors,
such as energy and mines.

The official acknowledgment there is no contradiction between
socialism and private property significates the overstepping of an old
ideological taboo. It means Cuba tries to build
a new socialist model similar to European welfare state combining advantages
from market economy with social security, i.e. free medical and educational
services, what very valuable is for Cubans. This emphasis on social aspects marks a huge
difference with the Asian models.

Moreover Cuban President is aware there are today many
legal obstructions that hinder the development of private sector on Cuba. He recognized
the existence in fact of small and middle sized private enterprises that
operate as sole-proprietorship. The non-acceptance of the limited liability
principle for Cuban private entrepreneurs creates a real economic distortion.
It’s the main cause of fiscal evasion.

The official acknowledgment of small and middle private
enterprises with limited liability will have many legal consequences. The first
and most important one, it opens the possibility Cubans may now actively
participate as partner in foreign investment projects. It would accelerate the rhythm of foreign
investment and open a new channel for that.

On the other hand are the state-owned enterprises. Cuban
President recognized state firms can’t reach so far high efficiency and
productivity levels compared to private enterprises. Cuba aims to support its economic development
on big strong state-owned enterprises, similar to China. To that it’s necessary
firstly to transform the economic structure of state-owned enterprises. I talk
about modernize internal labor and economic relations building new corporate
relations. Shareholding system would be a valuable option.

Cuban
reform process goes on unstoppably. The velocity of change depend, among other
factors, on the reaching the political consensus for setting-up new measures.
The way to a socialist market economy is already defined.



The Cuban Tax Administration at the head of Expert Exchange Program Cuba – EU.

Economía Posted on Mar 11, 2016 11:45AM

As
a result of the Exchange Program Experts Cuba-European Union (EU), was
inaugurated on Thursday in Havana a new communication system that will increase
the tax culture of national taxpayers.

Neven Mimica, European Commissioner for Development Cooperation and Yamile
Perez, head of the National Tax Administration Office (ONAT), presided over the
opening in the municipal management of this institution in Revolution Square,
Service Television Information to be used only in Havana.

Alfredo Jam, advisor to the Cuban Ministry of Economy and Planning (MEP) and
director of Expert Exchange Program Cuba-EU stressed that this is one of the
activities that sums part of the fruitful work done by both parties.

He stressed the satisfaction with the progress of those links, that started
from 2013 with the participation of the Institute of Economic Research of the
MEP, the Center for Overcoming the Ministry of Foreign Trade and Foreign
Investment, the National Bureau of Statistics and Information and the National
Office Tax Administration (ONAT).

“I think we have succeeded in taking advantage of all the knowledge, in a
climate of confidence,” said Jam, and opined that the conditions have been
created to take advantage in the future these joint efforts.

Visiting the Caribbean nation, which coincides with that of Federica Mogherini,
High Representative of the EU for Foreign Affairs and Security Policy and Vice
President of the European Commission, Mimica said that the opening of the new
communication system reflects the fruitful collaboration between Cuba and the
regional bloc in tax matters.

He said the program is a flexible and dynamic tool that promotes the exchange
of best practices, in relevant fields such as statistics, foreign investment,
foreign trade and tax administration.

Mimica stressed that the results are significant and palpable, which are
expressed in more than 80 activities to date between experts of both parties.

He said that the EU approved a second phase of the program, which will continue
exchanges through 2020.

It was learned that the new system of communication is the television
publication in the areas of taxpayer service offices of the ONAT in the
capital, messages to promote the implementation of procedures, compliance with
tax responsibilities and knowledge of the Cuban tax regulations.

This
initiative also seeks to raise the quality of service provided in Havana, where
the largest number of taxpayers in the country is concentrated.



Five reasons why Cloud Technology builds stronger client relationships

Economía Posted on Mar 01, 2016 09:17AM

If you’ve worked in the tax
and accounting profession long enough, you know that strong client
relationships are the foundation of a successful practice.

As technology
becomes more and more integrated into our everyday lives, however, you may be
hesitant to introduce it to your clients for fear of losing that personal
touch. But more and more accounting firms are realizing that cloud-based
applications, like client portals and document sharing, can actually build
stronger client relationships. Here’s why.

1. 24/7
Access

Your clients want accessing their information to be simple—and they don’t want
to have to schedule an appointment to get it. 24/7 access to information is now
expected for both personal and business information. Today’s consumers,
especially millennials, are known for their constant connectivity.
Consider this: A husband and wife are having a budget discussion at 9 pm and
want to access their tax return information. Shouldn’t that be just as easy as
accessing their bank account balance? By offering them cloud-based technology,
specifically client portals, it can be

2. Proactive
Collaboration

The key to stronger client relationships is to stay connected on a regular basis.
Cloud-based file sharing enables you and your clients to exchange source
documents and share files virtually, saving them the time and hassle of making
the trek into your office. Not only is this a huge benefit to clients, but it
also provides tremendous benefits in terms of firm efficiency as your staff can
access information and get work done anytime, anywhere.

Further, the
latest cloud applications provide full integration across all platforms—laptop,
tablet and native mobile apps—with centralized information. So if you or your
clients make a change in one place, it’s automatically updated across all
supporting applications, with no manual synching, importing or exporting. It’s all done in
real time.

3. Security
Being accountants, one of the first questions that may come to mind is whether
or not cloud-based applications are secure. By working with a reputable cloud
service provider that offers the highest level of security against hackers,
fires and natural disasters, data becomes even more secure than it is in an
office because the threat of possible break-ins and physical damage is
eliminated.

Plus, if your
firm uses cloud-based applications and your computer crashes, you can continue
working using a spare computer or a new one, without data loss, because the
cloud backs up all of your files, making them accessible from any device. Plus,
all software updates are pushed out live, without the need to download and
install a program. This virtually eliminates version control and other
potential conflicts with getting software updated.

4. More
Personal Time

Just like you, your clients strive to achieve work/life balance. By having
information readily available through cloud-based solutions like client
portals, you enable them to conduct business with you quickly and
conveniently—and get back to spending their personal time on activities they
enjoy. The cloud also frees up time for accountants, which is particularly
important during the long hours of tax season.

5. They
Expect It!

Virtually everyone uses cloud computing today, even if they don’t realize it.
If your clients access their bank accounts or retirement funds online, check in
to their online health portal, or stream a movie on their tablet or smart TV,
guess what? They are already using the cloud. In today’s world, clients expect
it.

The bottom
line is that cloud-based technology not only enables you to build stronger
relationships with clients, it also makes it possible for your firm to become
more efficient and productive. That’s a win-win. So don’t worry about losing
that personal touch. Use the cloud to your advantage and provide your clients
with the technology they’ve come to expect. You’ll be happy you did.



Cuba open for business, ministers tell French executives

Economía Posted on Feb 04, 2016 08:38PM

French president Francois Hollande, left, welcomes Cuban President Raul Castro upon his arrival for a meeting at the Elysee Palace, in Paris, France

France called on the U.S. to lift the economic embargo against Cuba during a historic state visit Monday by the Caribbean island’s president aimed at boosting economic relations between Havana and Paris.

Raúl Castro’s trip comes after a breakthrough deal was reached in the French capital in December to lighten Cuba’s foreign debt.

French President Francois Hollande, the former leader of France’s Socialist party, greeted Castro on Monday with a warm hug in the courtyard of the Elysée presidential palace, and then started the meeting saying “Vive Cuba!” (“Long live Cuba!”)

Both presidents vowed to develop economic, political and cultural ties during a joint news appearance.

The U.S. announced a normalization of relations with Cuba in December 2014, but it still maintains an economic embargo on the island.

Hollande told journalists that “President (Barack) Obama … must now follow through and allow this vestige of the Cold War to end.” France has called for the lifting of the U.S. embargo since 1991.

“We appreciate France’s traditional position in favor of the lifting of the economic, commercial and financial embargo from the United States against Cuba, which is the main obstacle to the development of our country,” Castro said.

Cuba wants “to diversify the bilateral relation with France in all its dimensions: political, economic, business, financial, academic and cultural cooperation,” he said.

The Cuban president was to attend a state dinner in his honor later Monday.

Raul Castro is on his first state visit to Europe. The Cuban president briefly stopped in Rome last year to meet with Pope Francis.

Hollande was the first French leader to visit Cuba in a half-century when he went in May seeking to boost trade.

In December the Paris Club of creditor countries forgave $8.5 billion of overdue Cuban interest payments in exchange for Cuba’s promise to pay off $2.6 billion in loans from developed countries over the next year and a half. France, to which Cuba owed $4 billion in overdue loans, led the creditors’ negotiations.

A new bilateral deal regarding Cuba’s remaining debt to France, which amounts to $390 million (360 million euros), was signed Monday. With this agreement, Paris agrees to convert 212 million euros ($230 million) into a fund that will finance French-Cuban projects on the island.

Another agreement allows France to open an office of the French Agency of Development in Havana. The public financial institution can make loans to public and private bodies to support development projects.

On Tuesday, Castro will meet with French Prime Minister Manuel Valls and Paris Mayor Anne Hidalgo and visit the Musee de l’Homme, a museum focusing on human evolution. The Cuban delegation is also meeting French business leaders and the UNESCO chief.

French companies are looking for business opportunities to open up in Cuba, especially in the tourism, transport, food and environmental industries. The number of French visiting Cuba in 2015 increased by 30 percent compared with previous years.



Cuba open for business, ministers tell French executives

Economía Posted on Feb 04, 2016 08:38PM

French president Francois Hollande, left, welcomes Cuban President Raul Castro upon his arrival for a meeting at the Elysee Palace, in Paris, France

France called on the U.S. to lift the economic embargo against Cuba during a historic state visit Monday by the Caribbean island’s president aimed at boosting economic relations between Havana and Paris.

Raúl Castro’s trip comes after a breakthrough deal was reached in the French capital in December to lighten Cuba’s foreign debt.

French President Francois Hollande, the former leader of France’s Socialist party, greeted Castro on Monday with a warm hug in the courtyard of the Elysée presidential palace, and then started the meeting saying “Vive Cuba!” (“Long live Cuba!”)

Both presidents vowed to develop economic, political and cultural ties during a joint news appearance.

The U.S. announced a normalization of relations with Cuba in December 2014, but it still maintains an economic embargo on the island.

Hollande told journalists that “President (Barack) Obama … must now follow through and allow this vestige of the Cold War to end.” France has called for the lifting of the U.S. embargo since 1991.

“We appreciate France’s traditional position in favor of the lifting of the economic, commercial and financial embargo from the United States against Cuba, which is the main obstacle to the development of our country,” Castro said.

Cuba wants “to diversify the bilateral relation with France in all its dimensions: political, economic, business, financial, academic and cultural cooperation,” he said.

The Cuban president was to attend a state dinner in his honor later Monday.

Raul Castro is on his first state visit to Europe. The Cuban president briefly stopped in Rome last year to meet with Pope Francis.

Hollande was the first French leader to visit Cuba in a half-century when he went in May seeking to boost trade.

In December the Paris Club of creditor countries forgave $8.5 billion of overdue Cuban interest payments in exchange for Cuba’s promise to pay off $2.6 billion in loans from developed countries over the next year and a half. France, to which Cuba owed $4 billion in overdue loans, led the creditors’ negotiations.

A new bilateral deal regarding Cuba’s remaining debt to France, which amounts to $390 million (360 million euros), was signed Monday. With this agreement, Paris agrees to convert 212 million euros ($230 million) into a fund that will finance French-Cuban projects on the island.

Another agreement allows France to open an office of the French Agency of Development in Havana. The public financial institution can make loans to public and private bodies to support development projects.

On Tuesday, Castro will meet with French Prime Minister Manuel Valls and Paris Mayor Anne Hidalgo and visit the Musee de l’Homme, a museum focusing on human evolution. The Cuban delegation is also meeting French business leaders and the UNESCO chief.

French companies are looking for business opportunities to open up in Cuba, especially in the tourism, transport, food and environmental industries. The number of French visiting Cuba in 2015 increased by 30 percent compared with previous years.



Cuba open for business, ministers tell French executives

Economía Posted on Feb 04, 2016 08:38PM

French president Francois Hollande, left, welcomes Cuban President Raul Castro upon his arrival for a meeting at the Elysee Palace, in Paris, France

France called on the U.S. to lift the economic embargo against Cuba during a historic state visit Monday by the Caribbean island’s president aimed at boosting economic relations between Havana and Paris.

Raúl Castro’s trip comes after a breakthrough deal was reached in the French capital in December to lighten Cuba’s foreign debt.

French President Francois Hollande, the former leader of France’s Socialist party, greeted Castro on Monday with a warm hug in the courtyard of the Elysée presidential palace, and then started the meeting saying “Vive Cuba!” (“Long live Cuba!”)

Both presidents vowed to develop economic, political and cultural ties during a joint news appearance.

The U.S. announced a normalization of relations with Cuba in December 2014, but it still maintains an economic embargo on the island.

Hollande told journalists that “President (Barack) Obama … must now follow through and allow this vestige of the Cold War to end.” France has called for the lifting of the U.S. embargo since 1991.

“We appreciate France’s traditional position in favor of the lifting of the economic, commercial and financial embargo from the United States against Cuba, which is the main obstacle to the development of our country,” Castro said.

Cuba wants “to diversify the bilateral relation with France in all its dimensions: political, economic, business, financial, academic and cultural cooperation,” he said.

The Cuban president was to attend a state dinner in his honor later Monday.

Raul Castro is on his first state visit to Europe. The Cuban president briefly stopped in Rome last year to meet with Pope Francis.

Hollande was the first French leader to visit Cuba in a half-century when he went in May seeking to boost trade.

In December the Paris Club of creditor countries forgave $8.5 billion of overdue Cuban interest payments in exchange for Cuba’s promise to pay off $2.6 billion in loans from developed countries over the next year and a half. France, to which Cuba owed $4 billion in overdue loans, led the creditors’ negotiations.

A new bilateral deal regarding Cuba’s remaining debt to France, which amounts to $390 million (360 million euros), was signed Monday. With this agreement, Paris agrees to convert 212 million euros ($230 million) into a fund that will finance French-Cuban projects on the island.

Another agreement allows France to open an office of the French Agency of Development in Havana. The public financial institution can make loans to public and private bodies to support development projects.

On Tuesday, Castro will meet with French Prime Minister Manuel Valls and Paris Mayor Anne Hidalgo and visit the Musee de l’Homme, a museum focusing on human evolution. The Cuban delegation is also meeting French business leaders and the UNESCO chief.

French companies are looking for business opportunities to open up in Cuba, especially in the tourism, transport, food and environmental industries. The number of French visiting Cuba in 2015 increased by 30 percent compared with previous years.



CUBA A LAS PUERTAS DE SU PRIMER TRATADO DE LIBRE COMERCIO/CUBA ON THE DOORSTEP OF ITS FIRST FREE TRADE AGREEMENT

Economía Posted on Jan 15, 2016 04:34PM

CUBA A LAS PUERTAS DE SU PRIMER TRATADO DE LIBRE COMERCIO

La Cámara de Senadores exhortó al gobierno mexicano a dinamizar las relaciones económicas
con Cuba con
el objetivo de suscribir un tratado de libre comercio bilateral para impulsar
el bienestar de los pueblos de ambas naciones.

Mediante un
comunicado, los senadores pidieron a la Secretaría de Relaciones Exteriores establecer
“un mecanismo de diálogo permanente con Cuba e incluirlo en la agenda
bilateral” con temas como la migración, inversiones, explotación de
hidrocarburos en el Golfo de México, así como el intercambio y fomento
científico y tecnológico.

También solicitó a la
cancillería dar seguimiento a los acuerdos derivados de la XV reunión interparlamentaria entre el
Congreso mexicano y la Asamblea Nacional cubana
en materia de energía, cooperación en
el sector salud, intercambio educativo y cultural, medio ambiente y turismo.

En la nota se recordó
que La Habana es el socio comercial número 57 de México en el mundo, mientras
que el país norteamericano es el sexto proveedor de la nación antillana.

Los senadores
mexicanos calificaron la relación comercial bilateral de “más sólida”
y por ello indicaron que la suscripción de un Tratado de Libre Comercio
“facilitaría el intercambio de bienes y servicios” y “eliminaría
o reduciría el pago de aranceles para fomentar un mayor comercio entre ambas
naciones”.

Consideraron
“viable” establecer el convenio comercial entre ambos países luego de
que sus primeros mandatarios han manifestado su interés “por consolidar y
potenciar” las relaciones bilaterales en diversos sectores.

El pasado 6 y 7 de
noviembre el presidente Raúl Castro realizó una visita oficial a México, donde
firmó con su homólogo mexicano, Enrique Peña Nieto, diversos acuerdos en
materia migratoria, de colaboración académico-diplomática, turística, agrícola
y educativa.

“El restablecimiento de las relaciones Estados Unidos – Cuba, lleva a todos los países del mundo a voltear a Cuba, y sobre todo México”, expresó Miguel Barbosa, presidente del Senado de México.

CUBA ON THE DOORSTEP OF ITS FIRST FREE TRADE AGREEMENT

The
Senate
urged the Mexican government to boost economic relations with Cuba with the aim of signing a bilateral
free trade to promote the welfare and freedom of the peoples of both nations,
reports EFE.

In a statement, the senators asked the Ministry of
Foreign Affairs (SRE) to establish “a mechanism for permanent dialogue
with Cuba and include in the bilateral agenda” with issues such as
migration, investment, exploitation of hydrocarbons in the Gulf of Mexico, the
exchange and scientific and technological development.

It also asked the Foreign Ministry to follow up the
agreements reached at the XV
Interparliamentary Meeting between the Mexican Congress and the Cuban National
Assembly
on
energy, cooperation in health, education and cultural exchange, environment and
tourism sector.

The note will be recalled that Havana is the largest
trading partner of Mexico 57th in the world, while the North American country
is the sixth provider of the Caribbean nation.

Mexican senators described the bilateral trade
relationship “stronger” and thus indicated that the signing of a Free
Trade Agreement “facilitate the exchange of goods and services” and
“eliminate or reduce the payment of fees to foster greater trade between
both nations. “

They considered “viable”
establish the trade agreement between the two countries after their first
leaders have expressed interest “consolidate and strengthen”
bilateral relations in various sectors.

On 6 and 7 November President Raul Castro he made an
official visit to Mexico, where he signed with his Mexican counterpart, Enrique
Peña Nieto, various agreements on migration, academic and diplomatic, tourist,
agricultural and educational cooperation.

“The restoration of US – Cuba relations leads all countries in the world to turn to Cuba, especially Mexico”, said Miguel Barbosa, president of the Mexican Senate.



Next »