Improvement in the Economic Integration Mechanisms in the Current Context of Trade Relations Between Cuba and Russia

Abstract

This chapter aims to improve the mechanisms of economic integration between Russia and Cuba. The methodology used by the author in this chapter is mainly composed of the method of historical-comparative, inductive, and analytical-synthetic analysis. The author used the existing information on the internet and other analyzed references. Additionally, the author qualitatively analyzed the opinions of various experts and drew conclusions. Regional integration is examined conceptually as a basis for a better understanding of integration processes. The research provides historical data after including Cuba in the Council for Mutual Economic Assistance (CMEA), considering this structure as the first one with characteristics of an economic integration structure. Next, the author considered the post-Soviet stage until the present. Statistical data according to the Observatory of Economic Complexity (OEC) summary are provided. These data correspond to the periods from 2018 to 2021 and show the statistics of exports, imports, and other important indicators between the two countries. Based on the analysis, it is necessary to update the integration mechanisms to reduce tariff rates, promote free trade between the two countries, and increase the participation of Russian companies in the Mariel Special Development Zone (ZED Mariel), Havana, Cuba.

Citation

Alcántara, M.J. (2024), "Improvement in the Economic Integration Mechanisms in the Current Context of Trade Relations Between Cuba and Russia", Eshov, M.P., Abdurakhmanova, G.K., Burkhanov, A.U., Abdusalomova, N.B. and Ergasheva, S.T. (Ed.) Development of International Entrepreneurship Based on Corporate Accounting and Reporting According to IFRS (Advanced Series in Management, Vol. 33B), Emerald Publishing Limited, Leeds, pp. 159-165. https://doi.org/10.1108/S1877-63612024000033B020