EU-Cuba cooperation was resumed in October 2008. Since then, the Commission has committed around € 60 million for cooperation on post-hurricane reconstruction and rehabilitation, food security, climate change and renewable energy, culture, and education. Cuba also takes part in several EU-funded regional programmes. The first Country Strategy Paper/National Indicative Programme for Cuba was adopted on 12 May 2010 making available € 20 million between 2011 and 2013 for food security, climate change adaptation, and expertise exchanges. The EU has adopted decisions allocating € 4 million to support the population affected by Hurricane Sandy in November 2012.
The EU is Cuba's second most important trading partner (accounting for 20% of total Cuban trade). The EU is the second biggest source of Cuban imports (20%) and was the third most important destination for Cuban exports (21%). The EU is Cuba's biggest external investor. Approximately one third of all tourists visiting the island every year come from the EU.
In November 2012 the member states of the EU and the Caribbean adopted the new Joint Caribbean-European Union Partnership Strategy . This Strategy will enhance Caribbean– European Union relations and broaden the engagement by adding a political pillar to the traditionally development and trade cooperation based relationship with the Caribbean region. The strategy focuses on Regional Integration, Haiti Reconstruction, Climate Change and Natural Disasters, Crime and Security, and Joint Action in Multilateral Fora.