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Contact:
Daniel Secondi Release Date: February 17, 2003
GIC Group
Alexandria, VA
703-684-1366
E-mail: dsecondi@gicgroup.com
As U.S. agribusiness companies gathered for the U.S.-Cuba Business Conference in Cancun, Dr. Richard Gilmore spoke with participants regarding trade finance
issues, and the necessary investment reforms needed to build sales with Cuba. "The finance sector has the potential to leverage the success of recent transactions with Alimport, the Cuba food import
agency, to allow for three-fold growth in sales volume" said Gilmore.Current regulations require that all U.S. company transactions with Cuba are cash sales. Contracts for sales of
agricultural products to Cuba totaled $135 million in 2002 alone. Dr. Gilmore pointed out that reform of existing restrictions would not only spur more sales of agricultural products, but also provide new
investment and finance opportuntities in Cuba. Dr. Gilmore is president of GIC Group, an agribusiness investment and financial advisory firm. GIC provides financial and technical services to
the food and agribusiness sectors worldwide. |
