While Louisiana’s agricultural industry initially would benefit most from lifting the embargo with Cuba, given that the island nation is the largest consumer of rice per capita in the Western Hemisphere, a business coalition working to end the travel and trade embargo insists manufacturing and other industries stand to profit in the long term as well.
“Cuba is currently trying to develop its energy industry because they’ve been so reliant on Venezuelan crude,” Engage Cuba Louisiana Council President James Williams said. “This is definitely an area where Louisiana can meet a need. We’re also beginning to see more interest in light manufacturing and biotechnology.”
As detailed in a feature from 10/12 Industry Report’s new quarterly issue notes, Williams made these statements in February when Washington, D.C.-based Engage Cuba announced the creation of a Louisiana Council expressly dedicated to promoting the removal of trade barriers with Cuba.
The council is comprised of leaders from across Louisiana’s agricultural, manufacturing and business communities, and is the third such council in the U.S. Williams addressed a small gathering during the council’s launch event, along with Benjy Rayburn, Louisiana’s assistant commissioner of agriculture, and Joe Accardo Jr., executive director of the Ports Association of Louisiana.
He added that a new Economic Development Zone in Mariel—Cuba’s closest seaport to the U.S.—has the greatest potential for industrial and manufacturing development by U.S. companies. The port was recently dredged to 60 feet deep to support the supersized, New Panamax shipping vessels.
“Mariel already has 10 projects that have been given the green light, but they’re not U.S. investors,” Williams said.
Read the full feature from the new quarterly issue of 10/12 Industry Report. Sign up for free to receive the quarterly issues. Send feedback, story ideas and company news to editor@1012industryreport.com.
