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A few facts about Cuban Trade

If only just 0.3 per cent of the US population take advantage of the lifted import of Cuban cigars, the US will overnight become the biggest export destination for Cuban cigars valued at over $100m annually.

With a lifted embargo, Cuba could export over $6bn in goods to the US while importing around $4bn in goods back. Immediately altering Cuba's trade deficit.

Venezuela is one of Cuba’s most important trading partners and an “oil-for-doctors” program under which Caracas sends 115,00 barrels of oil per day to Havana in return for 30,000 doctors accounts for 40 per cent of total Cuban trade. That amounts to a subsidy worth $2.7bn a year.

Exporting agricultural products to Cuba became legal for US companies in 2001. Since then the trade has soared and the US is now a major supplier of grains and other foodstuffs for Havana. However with lifted sanctions, this trade will increase dramatically - both ways.

Havana’s main exports remain agricultural products but in the absence of USA trading, China has stepped in to become Cuba's biggest market and its biggest supplier of goods. Though despite the American anti-Cuba stance, Canadian and European companies remain good import/export markets for Cuba. This will all change radically now that America has adopted some common sense and dropped its Cuban 'whipping stick'.

Foreign companies looking to invest in Cuba do face delays and red tape. Although its extremely difficult and expensive to incorporate a company in Cuba. A quick solution is set up a branch office in Jamaica (very easy), then use this to head up the Cuban operation.

After years of America's embargo's and forced poverty upon Cuba and its population, change is in the air. Though little will happen before America's general election later this year, it remains to be seen if the new president will have vision or be arrogantly blind to the real world and of course, Cuba's future.
Either way, there is an exciting new wind of prosperity blowing across Cuba and it will be up to Cuban businesses to either embrace or ignore it. If Cuban firms act sluggishly or with degrees of complacency towards this new era, they will suffer at the hands of profit hungry foreign companies who will dominate Cuba's new market, extracting the maximum wealth for themselves while feeding Cubans peanuts.
Thats not a guess, its a fact that has been demonstrated in virtually every developing country.
Cuba's biggest opportunity will be tourism. But the Cuban government must relax its bureaucratic methods and be pro-active in this new market and Cuban firms involved in tourism must wake up to the new opportunities.

Contact Excluss today to grow your Cuban Tourism Business.