(KPL/Prensa Latina)  Havana._ This year marks the 50th anniversary of Malaysia-Cuba bilateral relations, a significant milestone reflecting half a century of diplomatic and economic collaboration. While the relationship has traditionally centered on political goodwill and cultural exchanges, trade has emerged as an increasingly vital pillar.

Over the past few years, Malaysia’s exports to Cuba have seen substantial growth, reflecting both nations’ commitment to expanding economic ties. With evolving market demands and shifting global trade dynamics, now is the ideal time to evaluate past achievements, current opportunities, and the future of bilateral trade relations, Malaysia’s Embassy in Havana notes.

According to Malaysia’s Trade Commissioner, Ahmad Shanizam Ab Ghani, whose MATRADE office is based in Miami, the commercial relationship between Malaysia and Cuba has witnessed remarkable progress, with significant growth in exports of food products, palm oil, and beverages.

In 2020, Malaysia’s total exports to Cuba stood at $3.18 million, but by 2024, the figure had more than doubled to $6.85 million, marking a 115% increase. This growth underscores Cuba’s increasing reliance on Malaysian products, especially in key industries like palm oil-based products, processed food, and beverages. The strengthening trade ties highlight Malaysia’s role in contributing to Cuba’s food security and industrial needs, demonstrating the potential for deeper economic collaboration.

Among the various sectors, palm oil-based manufactured products have historically been Malaysia’s largest export to Cuba, given the country’s reliance on palm oil for food and industrial applications.

In 2020, Malaysia exported $1.35 million worth of palm oil products to Cuba, which surged to $2.54 million in 2024. This steady demand reflects the strong position of Malaysian palm oil in the Cuban market. However, diversification efforts have also gained momentum, with other sectors, such as processed food and beverages, experiencing dramatic growth.

One of the most striking developments is the exponential growth of Malaysia’s processed food exports to Cuba. In 2020, processed food exports stood at a modest $129,088, but by 2024, they had skyrocketed to $2.53 million—a staggering 1,875% increase.

This surge is likely attributed to Cuba’s increasing demand for high-quality imported food products and Malaysia’s ability to offer cost-effective, Halal-certified food solutions. Similarly, beverages and tobacco, a previously non-existent trade category, emerged as a dominant sector in 2024, contributing $1.21 million to total exports, Trade Commissioner, Ahmad Shanizam Ab Ghani forecasts.

Despite this impressive growth, some sectors have experienced declining exports. Palm oil and palm oil-based agriculture products, once a key contributor, saw a 32.5% decrease in 2024 compared to the previous year. Similarly, rubber products declined by 62.4%, suggesting either a shift in Cuban demand or increased competition from other suppliers. Addressing these setbacks will require Malaysia to reassess market needs, pricing strategies, and trade policies to maintain its competitive edge.

Looking ahead, there are significant opportunities for future growth. Given Cuba’s ongoing economic remodeling and efforts to modernize its food and manufacturing industries, Malaysia is well-positioned to expand exports of high-value goods such as processed halal food, pharmaceuticals, and medical equipment.

Furthermore, technological collaboration in manufacturing and industrial development could open doors for Malaysian firms to invest in Cuba or establish joint ventures to produce goods locally.

Malaysia-Cuba trade should also be examined within the context of broader global trade trends. Cuba’s trade with Malaysia remains relatively small compared to its dealings with other Latin American countries and major trading partners like China and Spain.

However, with Cuba actively seeking to diversify its trade relations beyond traditional partners, Malaysia has an opportunity to position itself as a reliable supplier of essential goods, particularly in the food and healthcare industries.

With the presence of the Malaysian Embassy in Cuba and the Ambassador of Malaysia, Mr. Radzi Jamaluddin, Malaysia has been able to further develop trade relations with Cuba and facilitate engagement between businesses from both nations.

Diplomatic efforts and trade missions have played a crucial role in strengthening economic ties, paving the way for long-term collaboration. Moving forward, Malaysia’s strategic focus on key sectors, coupled with government-backed initiatives, will ensure sustained trade growth and deeper economic integration between the two nations.

The recent visit of Cuban Foreign Minister Bruno Rodríguez to Malaysia further underscored the strong potential for both countries to enhance beneficial cooperation projects across various sectors.

Discussions between Cuban and Malaysian officials focused on deepening collaboration in trade, investment, biotechnology, healthcare, and education, setting the stage for increased bilateral engagement. The visit not only reaffirmed diplomatic ties but also demonstrated Cuba’s keen interest in expanding its trade relationship with Malaysia, particularly in high-growth sectors such as food security, pharmaceuticals, and renewable energy.

With trade momentum building and opportunities expanding, Malaysia’s exporters and policymakers must seize this historic moment to solidify Malaysia’s role as a key trading partner for Cuba. By strengthening economic ties, both countries can forge a future of shared growth, innovation, and prosperity, setting the stage for an even stronger bilateral relationship over the next half-century, Ahmad Shanizam Ab Ghani recommends.

KPL