Bingham Greenebaum Doll LLP partner Robert L. Brown, chairman of the BGD International Team, recently discussed U.S. – Cuba Relations in Louisville Business First. In his op-ed column, the former chair of the Kentucky World Trade Center explores the benefits of U.S. trade with Cuba and the potential impact of relaxed trade embargo.
Brown notes that US exports to Cuba in 2014 were nearly $300 million (a drop from over $460 million in 2012), but they are limited to only a few sectors – primarily, farmers. He also states that Cuba has been receiving investment from throughout the world while the United States has lost the opportunity to enter the market. He argues that the embargo is not hurting Cubans, only Americans. Following the act signed by President Obama on Dec.17, 2014, U.S. opportunities in Cuba are likely to increase and there exists hope for a positive business relationship between the two countries.