The discussions between the Canadian and Cuban counterparts centered around a natural Cuban fertilizer, NEREA®, which the Caribbean island has been developing for the past 20 years.
Company director Mark Perlman represented IZC, while the negotiations are the result of months of planning and meetings to conclude three major agreements.
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Furthermore, the Candian and Cuban negotiatiors formalized the working teams and garnered a better understanding of the NEREA® products Cuba has developed.
The parties plan to establish join projects with the goal of creating an International Economic Association for the production, technology transfer, marketing and distribution of NEREA® products in the Canadian market, subject to Cuba's foreign investment laws.
According to Cuba Business Report, Director General for Foreign Investment in Cuba, Carlos Luis Jorge Mendez, is very hopeful about the project and reiterated that IZC would have full support.
NEREA®'s zeoponic technology has proven to provide higher yields of agricultural production by over 20-30%, as well as using less water and facing lower plant infection by fungus, viruses and microorganisms.
Environmentally friendly, NEREA® substrates do not produce harmful wastes. According to Mr. Pearlman, "one of the highlights to the trip to Cuba was the visit to the NEREA® experimental farm. To date, I have reviewed several documents and studies showing the benefits of NEREA®, however as the cliché goes, seeing is believing."
Both UH and GMSA have assigned senior leaders to form a team to carry out contracts and legal agreements, whereas IZC is assembling a high-level team to move the project forward.