Business Channel 2006-11-08&10

Hey, Chris, how are you?
At Havana's International Trade Fair, the arrival of these men drew everyone's attention.
Thank you for coming to Cuba.
On the right, US cattle rancher, John Parke Wright, a Florida Republican, shaking his hand, Ramon Castro ,Fidel Castro's 82-year-old older brother. Wright's become friends over the years with admittedly least political of the Castro brothers.

We are honored to be here from Florida.
We're honored to be here.
And there is no blockade on friendship.
Si, Gracias, senor, thank you for your invitation.
Welcome to Expocuba.
And let's go into the fair.

The Trade Fair draws hundreds of businesses from around the world, looking to either start or expand their trade with Cuba.

Since 1963, the United States has maintained an embargo 2 against the island nation, seeking to bring down its Communist government. But Washington does allow some US trading.

Havana's Trade Fair shows Cuba isn't completely off-limits to American businesses. Here you can find rice from Mississippi, turkey from North Carolina, and tomatoes from Florida.

That's due to a law passed by Congress in 2000 that allows US food producers to trade with Cuba. American representatives here say they’d like to see even fewer restrictions 3.

People are still people. And that's what makes a country in the long run. So, hopefully communications down the road will be such that it the opens up even more so.

But in October, US President George W. Bush called for a stricter enforcement of the embargo. Nevertheless, the policy, begun at the height of the Cold War, could be up for revision in coming years. Mr. Bush leaves office in 2008 and Cuban leader Fidel Castro has handed over power since he recovers from surgery. For its part, Cuba says it's open to trade with the United States.

"American products are quality products. American producers are very efficient," says the head of Cuba's food import company. But he says US law puts American producers at a competitive disadvantage. US businesses must charge Cuba up front and in cash while European and Asian companies can sell on credit like they do everywhere else.

While the politics of the embargo are hard to predict, in the end, it may come down to this, US business wants to be in Cuba and Cuba wants US business.

The time to open trade is right here.

Morgan Neill, CNN, Havana.

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VOCABULARY:

rancher n: someone who owns or manages a ranch 1 or whose job is to work on a ranch.
upfront: (only before noun) paid in advance, before other payments are made: There will be an upfront fee of 4%.