Bahamas Seeks Trade Ties With Cuba

Tue, Nov 13th 2012, 08:47 AM

The Bahamas and Cuba are seeking to bolster trade ties, particularly in the area of agriculture, as the United Nations prepares to vote on a U.S. embargo for the 21st time. Government officials from both island nations cemented their relationship on the day of a press conference at the Cuban embassy. Ernesto Sobermon Guzman, Cuban ambassador to The Bahamas, said the two countries have enjoyed a "historical" relationship that should be improved through greater economic cooperation. Admitting that current trade is "not significant", the ambassador told Guardian Business that agriculture and construction materials hold the most promise.

He noted that The Bahamas Agricultural and Industrial Corporation (BAIC) recently held a trade mission in Cuba and participated in the Expo-Cuba International Trade Fair. The visit included high-level discussions with officials from the Cuban Ministry of Agriculture. Cuban officials plan to send an agricultural technical delegation by the end of the year to evaluate the needs of The Bahamas and map out a plan of action. "We want to increase trade with The Bahamas," he said. "I believe the recent delegation is trying to establish and improve the relationship. We expect this to be the beginning of a stronger trade relationship."

Guzman was keen to emphasize that Cuba appreciates The Bahamas' continued opposition to the U.S. embargo on Cuba. Based on a recent report, he claimed that the embargo has cost Cuba more than $1 trillion since the 1960s, taking into account the valuation of the dollar and global markets. "Most countries are against this embargo. Last year, 186 countries voted against the blockade. This is a huge number. And we appreciate the support of The Bahamas on this matter," according to Guzman. In fact, Cuba's former leader Fidel Castro declared last year's vote a victory. Meanwhile, the U.S. and Israel rejected the resolution, while three other nations abstained.

Minister of Foreign Affairs Fred Mitchell described The Bahamas as having "good relations" with Cuba. He told Guardian Business that there is currently a lot of trade and commerce in the area of services. Mitchell said more Bahamians are trying to get into the import/export of commodities to Cuba. Agriculture is an area the private sector is increasingly looking at, he said, and more regulations are needed in regards to sanitary protocols.

He confirmed to Guardian Business that The Bahamas will once again be voting against the U.S. embargo. "Trade will be individually driven by the private sector. There is nothing we the government will do to get in the way of it," he said. For his part, Guzman argued that the current U.S. embargo was actually bad for Bahamian businesses. He pointed out that any boat that docks in a Cuban port cannot enter the U.S. for a period of at least six months. The ambassador said the current blockade was not just between the U.S. and Cuba. Other nations continue to have a residual impact, he said. The U.S. embargo against Cuba was first imposed in 1962 by the Eisenhower administration.

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