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Cuban prime minister calls to learn from business mistakes

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Cuban prime minister calls to learn from business mistakes

Havana, Feb 17 (Prensa Latina) Cuban Prime Minister Manuel Marrero on Thursday called to be well trained in international business law and learn from mistakes not to repeat them.
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At the opening of an introductory course to the study of this legal branch, the prime minister stressed that this is a matter of national sovereignty as it protects the country’s resources.

Marrero commented that inexperience and improvisation in this field have led to several international lawsuits over the past few years, which means risks and waste of money, but Cuba has solved several of them favorably.

Cuba is not in a bubble, the prime minister said. It is an open economy, and therefore, it is subjected to international market laws, hence the importance of being prepared for these scenarios using contracts as a basic tool.

In this regard, he pointed out that Cuba is not sufficiently trained in this type of documents as many business people consider it a formality and do not implement the rules that could benefit them.

He recalled that the lack of training has resulted in the signing of some “onerous contracts,” eventual harmful business deals from which it is very difficult to withdraw.

He pointed out that it is indispensable that lawyers fulfill their role: advise, warn, safeguard the companies they represent.

Marrero also called on leaders and other stakeholders to get educated on these issues.

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