Madrid.- Cuba and Spain agreed today to further advance their relationship, on the basis of mutual respect and benefit. Such was the will expressed here, in the framework of a visit by the island’s Council of Ministers vice president, Ricardo Cabrisas.
The high-ranking Cuban official recognized Madrid's constructive role in the process that ended on December 12 with the agreement reached with the Group of Cuba Creditors of the Paris Club concerning a restructuring of Cuba’s medium- and long-term debt.

Both sides confirmed the decision to advance in the implementation of a multilateral memorandum signed with the Paris Club, said a statement from the Cuban embassy in this capital, according to Prensa Latina news agency.

In his meetings with members of the Spanish government, Cabrisas noted that the situation that has emerged is favorable for a deepening of economic exchanges and an increase in Spanish investments in Cuba.

During his brief working visit to Spain- -Cuba's first trading partner in Europe--, vice president Cabrisas thanked Spanish authorities for their continued rejection of the economic, commercial and financial circle of the United States against Cuba.

Spain announced the decision to reopen the operations of credit insurance to medium- and long-term exports by the Spanish Export Credit Insurance Company, according to the diplomatic note.
Spain also confirmed its support of the negotiation process and the signing of a Political Dialogue and Cooperation agreement between the European Union and Cuba.