Alabama Businesses Could Profit From Increased Trade with Cuba

AP_977721239284As President Obama wraps up his historic 3 day trip to Cuba, many questions remain about the future relationship between to two countries.

For many business people, it raises the opportunity for new trade possibilities.   But what you may not know is Alabama has been trading with Cuba for over decade and the potential for even more trade is growing.

In 2000, Congress passed a law allowing the sale of humanitarian and agricultural products to the island nation, which slightly eased the trade embargo put in place in 1962.

Alabama’s Commissioner of Agriculture and Industries, John McMillan, recently returned from a trip to Cuba.

He says Cubans are ready to have a more open trade relationship with the U.S., which in turn creates new economic opportunities for both Cuba and Alabama.

Currently the state exports mainly poultry and timber.  It amounts to  over $100 million on average per year for Alabama businesses.


Categories: News, Statewide