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Holguin: Overstock Merchandise Sale Continues on
  • Written by Odalys Martínez Oliva

The ninth edition of the Overstock Merchandise Sale continues in the north-eastern Cuban city of Holguin. The event opened on the 23rd of December at the Expo-Holguin fair grounds, at the request of the Provincial Administration Council and is aimed at clearing stores and warehouses of items in little demand in the province.

An additional value for the year's event is the participation of specialists from the Universal Commerce Company from the five Cuban eastern provinces.

But also the presence of Miriam Montero, the National Directress of Accounting of the Ministry of Domestic Commerce and Francisco Silva, her peer for the wholesale branch.

Both figures praised the work done the current year on inventories and the application of the Law Ranking Decree 315/13, on this field, and agreed on the need of calling this event that also means sharing of experiences.

Cuba's Commerce Company shares nowadays 17 percent of the country's inventories, and until the closing of October the Holguin Business Group has 117,7 millions of pesos for goods inventory, what represents about 10 percent of the stock left idle, an amount to drop down yet, equal to last year.

In fact, this fair to close on November 29 is a viable alternative for the local companies to trade goods that are still in their warehouses, or find show commercialization; indeed a good response to keep reducing items' importation.

People that have become the fair's main client are buying many goods like bearings, drive belts, valves, farming implements and home use, as well as other pieces for industrial use, which could either be bought in Cuban peso or hard currency, as the nickel factories have been doing.

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