American Business Owners Head to Cuba for International Trade Fair

American Business Owners Head to Cuba for International Trade Fair
Fecha de publicación: 
2 November 2015
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Many American businesses and business owners are heading down to Havana, Cuba, today because the International Trade Fair is starting up. Back in December President Barack Obama announced along with Cuba that they would begin establishing diplomatic relations again, which ends the 50-year freeze between the two countries. This means that there are now open trade opportunities between America and Cuba, and this is the first International Trade Fair to happen since that announcement. Many companies from America are excited about the potential opportunities that could come from the relaxing of restrictions, and hope it promotes growth for both countries.

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Many businesses from America are excited about the International Trade Fair down in Cuba, with owners of various American-made products introducing their products to a whole new audience. It is weird to see because for many decades, Cuba had been barred from importing American goods, but now, both sides are excited to see what the other has to offer. One business that is heading to Cuba is Cleber LLC., which is an Alabama-based company who builds tractors. The owners of Cleber LLC., along with an American-made tractor that is for sale will be at the business expo this week.

In fact, not only is Cleber going to the International Trade Fair, but the company is proposing to move construction from Alabama to Cuba. Cleber LLC., also said that they would be using materials and workers from Cuba within five years, and this is offering the long-isolated country more than just American-made products. Saul Berenthal, co-founder of Cleber LLC., said back in December that the goal for Cubans has always been to get people to invest in their country, and since Cleber LLC., is one of the first American companies to have this goal in mind, they have quite an advantage.

While Cleber LLC., might be a standout this week, many other American businesses and owners will be flying down to Cuba to be part of this business expo. Many other companies are looking at the possibility of trade opportunities, such as Caterpillar and Cargill, along with smaller companies like Ninkasi Brewery Co., who want to sell beer in Cuba. There are still a lot of embargos on Cuba right now, with only Congress having the ability to change these restrictions on the country. Even though Congress has to make these economic embargo changes, there are ways that Obama can use executive action to expand on the trade opportunities that are allowed in the embargo. In fact, Obama has already used executive orders to expand on some of these trade openings in Cuba, but the president can only do so much before Congress has to change the restrictions.

Some good news is that the Commerce Department and the United States Treasury has published some regulations which does expand the opportunities and abilities of American businesses to sell things in Cuba. Some of the items that American businesses can sell in Cuba now include medicine and food, and equipment can also be sold to Cuba to help improve various industries. Agricultural, medicinal, and telecommunications industries so far are the industries within Cuba that are going to be benefiting the most from the ease on restrictions up to this point.

Another part of the International Trade Fair is it is a chance for the American business owners to meet the various government officials in Cuba. Not only that but one of the promises of this expo is that American business owners will be taught how to work with Cuba and work with the various Cuban leaders and other officials. Getting there is also an issue because it is a complicated process to secure the charter jet, since only a few airlines have the legal documentation and authority to go over to Cuba in the first place. Cuba also does not accept U.S. issued credit cards, which has led to some companies from dropping out of the expo all together, so part of the hassle is going to be just getting to Cuba this week, and that means there is still work to do to make this process easier for the businesses and owners.

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