The AMBCC supports President Obama’s decision to re-set relations with Cuba. “We are excited about the possibilities and the potential impact it could have for our members in the travel, food, banking, medical, technology, real estate, sports and entertainment industries,” as stated by Michael T. Hill.
Cuba national exports are sugar, nickel, tobacco, fish, medical products, citrus and coffee. Amongst its various trading partners, nearly 28% of the exports were to Canada, 27% to China, 6% to China and over 5% to the Netherlands
Cuba national imports are petroleum, food, machinery and equipment, chemicals. Cuba’s major trading partners are Venezuela, which accounts for nearly 30% of all imports, China (12%), Spain (10%), Canada (6.4%), the US (6.3%) and Brazil (4.6%).
AMBCC CEO & President Michael T. Hill also urges members not to take a wait and see approach on this opportunity. Members interested in doing business in Cuba need to immediately begin identifying key stakeholders within their community who can help you do business with Cuba. This is not new to our community. Many Pan-African Groups like the TransAfrica Forum and the Congressional Black Caucus have been advocating for improved relations for years.
The Global Relations Council within the AMBCC will take lead on establishing key stakeholders to facilitate opportunities to do business with Cuba and will provide members with weekly updates.
Below we have provided resource links for things to know on this matter.
On January 2, 1999, a group of about 20 members of the TransAfrica Forum went to Havana for the week to meet with AfroCubans and with Cuban government officials. This was a significant milestone in African American – Cuban relationships.
During the 30th Annual Convention of the Congressional Black Caucus, the Caucus’ 38 African-American congressional representatives, publicly took, for the first time, a strong position against the blockade and in favor of radical changes in Washington’s aggressive policy towards Cuba.
President Obama’s historic move on Cuba. President Obama announces U.S. will re-establish an embassy in Havana and make diplomatic and economic changes. Cuba’s expert William LeoGrande joins live from Havana (MSBC- O’DONNELL)
President Raúl Castro of Cuba addressed the shift in U.S. policy towards Cuba in a speech on Wednesday, saying that the countries must learn how to start “coexisting in a civilized manner.” Castro also thanked Pope Francis for his support during the..(MSNBC-Sharpton)
What The Change In U.S.-Cuba Relations Might Mean For Food. As you’ve probably heard — or seen, if you’ve traveled to Cuba — food (and, at times, the lack thereof) remains one of the most striking emblems of Cuba’s dysfunctional economic system. ( NPR)
Top 10 Most Socialist Countries in the World. When you look at countries who actually have a socialist economic structure, you can see some similarities to the United States – but there are some really stark differences.