Cuba Trade Promising, Complex

An agriculture economist from Texas A&M University projects trade with Cuba could generate $1.2 billion a year, but success depends upon more than lifting trade barriers.

Parr Rosson, Ph.D., head of the agriculture economics department at the university, told the U.S. Senate Committee on Agriculture, Nutrition and Forestry that success also depends upon income growth in Cuba, more tourism in Cuba, an improved infrastructure, greater efficiency in the supply chain, and creation of a cold supply chain to handle processed foods.

“The opportunity for job creation in the U.S. as a result of more open trade with Cuba is substantial,” Rosson told the committee. “Our estimates indicate that U.S. food and agricultural exports to Cuba have the potential to exceed $1 billion annually.

These additional exports would support creation of 6,000 new jobs throughout the U.S. economy, along with another $739 million in business activity nationwide.” S