Title: Russian Presidential Commissioner Urges Full-Fledged Market Reform in Cuba
Subtitle: Boris Titov highlights similarities between Cuba and USSR, stresses need for economic liberalization
Moscow, Russia – Boris Titov, the Presidential Commissioner for the Protection of the Rights of Russian Entrepreneurs, has emphasized the necessity of a comprehensive market reform in Cuba. During an exchange with businessmen from the Moscow region, Titov drew parallels between Cuba and the late 1980s USSR, underscoring the emergence of small businesses and a thriving underground economy in the Caribbean nation.
According to the official Russian agency TASS, Titov mentioned the presence of cooperative restaurants and small businesses in Cuba, which have become increasingly popular and trendy. However, he also highlighted the dominating underground economy, where transactions are conducted predominantly in cash, especially in dollars.
Titov acknowledged Cuba’s current concerns and their contemplation of opening up to the world. He pointed out that the Cuban tourism industry is still recovering from the pandemic, while the recent fire in Matanzas resulted in the loss of strategic oil reserves. The Russian official further noted the limited presence of investors in Cuba, largely due to the rigid communist regulations, with the exception of Spanish investors.
He urged businessmen to explore opportunities in Cuba, considering the loss of Russian markets in Europe and the West following the events in Ukraine. While Russia provides assistance to Havana, primarily through energy resources, Titov stressed that a full-fledged market reform is essential for the island’s development, suggesting that state support will play a significant role in achieving this.
Underscoring the existence of a consumer market in Cuba, Titov mentioned the widespread clandestine dollar turnover and the monthly remittances of up to 300 dollars sent from Florida. He highlighted the upcoming opening of the Russian Trade House in Havana, which will offer Russian products and goods directly to consumers without state mediation.
Titov’s statements underline Russia’s growing involvement in the political and economic ties between Moscow and Havana. As a key figure in advising the reform of the Cuban economy, Titov recently announced plans to increase the supply of Cuban rum in Russia. This would include both importing Cuban rum and producing special varieties through collaborations between Russian and Cuban producers.
Leading the “cubastroika” reform program, Titov is tasked with introducing economic transformations in Cuba by promoting the development of private companies. A self-proclaimed “right-wing liberal” and one of President Vladimir Putin’s top economic advisers, Titov has extensive experience in the business sector, particularly in the wine industry where he owns the successful Abrau-Durso vineyard.
With his involvement in the production of Cuban rum, Titov’s business interests align seamlessly with this new venture. The collaboration showcases the potential economic synergy between Russia and Cuba and reinforces Moscow’s increasing control over the political and economic trajectory of the island nation.
As Cuba looks toward expanding its international relations and attracting foreign investment, Titov’s call for market reform reinforces the pressing need for economic liberalization to support the country’s growth and development.