VISITING Spanish Foreign Minister Jose Manuel Garcia-Margallo urged his Cuban hosts today to accelerate economic reforms designed to expand private enterprise and attract foreign investment.

His two-day visit to the island is the first by a minister in conservative Prime Minister Mariano Rajoy's government, whose Popular Party has long been antagonistic to socialist Cuba.

"Spain would like to see a more rapid pace to the economic reforms that give more space for private initiative and foreign investment ... which advance monetary unification and allow for decentralisation," said Mr Garcia-Margallo at a meeting with Cuban Foreign Minister Bruno Rodriguez and Vice-President Miguel Diaz-Canel.

Cuba's economic reforms were launched by President Raul Castro in 2010 to kick-start a centrally planned economy short on investment and dogged by inefficiency.

Mr Garcia-Margallo urged Mr Castro to attend next month's Ibero-American summit of Spanish and Portuguese-speaking nations in Mexico.

The foreign minister did not say how Cuban officials had responded to his requests.