This document makes an assessment of the Political Dialogue and Cooperation Agreement (PDCA) between Cuba and the European Union (EU) in its four years of validity, and of the evolution of political and economic relations between both parties. The analysis is structured in five headings that address the background, determinants and significance of the PDCA between Cuba and the EU; the main elements discussed in the political dialogue —and in thematic dialogue— between the two parties since 2018, and the central aspects of trade, investment and cooperation relations between Cuba and the EU.
The report concludes that, unlike the United States, the EU is able to support the complex process of economic and institutional transformations underway in Cuba, in four fundamental areas: i) technical assistance and advice for the design and implementation of public policies, macroeconomic management, decentralisation and local development; ii) cooperation to fight climate change and transform Cuba’s productive and technological structure; iii) the promotion and encouragement of foreign investment flows from Europe, targeting key productive sectors; and iv) the exploration of financial opportunities for Cuba through the European Investment Bank (EIB) under the current PDCA.