Lifting of Cuban trade embargo could be boon to Louisiana ports, panelists say

Lifting of Cuban trade embargo could be boon to Louisiana ports,
panelists say
by Allison Good / The Times-Picayune
Friday May 29, 2009, 4:56 PM

If the United States lifts the trade embargo with Cuba, Louisiana would
be able to ship oil to the country and local companies might find
opportunities to help modernize ports and other infrastructure there,
panelists said Friday at a luncheon sponsored by the World Trade Center
of New Orleans.

Eugene Schreiber, managing director of the World Trade Center, said one
third of all U.S. exports to Cuba go through Louisiana ports. He and
several other speakers said the loosening of trade restrictions would
create additional opportunities for this state, especially in the export
of oil and Louisiana agricultural products.

Christopher Sabatini, senior director of policy at the Americas Society
and Council of the Americas, said Cuba currently produces only 41
percent of its oil needs and receives the rest from Venezuela. A trade
partnership with Louisiana would help Cuba eliminate the strong
influence that Venezula maintains there, he said.

President Barack Obama has tried to normalize relations with Cuba by
lifting restrictions on the travel of Cuban-Americans to the island and
by indicating a willingness to negotiate with leaders Fidel and Raoul
Castro. All the same, panelists said Friday that lifting the trade
embargo would not be easy.

"I think there's going to be a heated debate in Congress over the
issue," said George Fowler, a local attorney and native of Cuba who left
during the political turmoil of 1959 and spoke about the country's human
rights issues. Fowler is also the vice president of the Cuban American
National Foundation.

In spite of the embargo, the United States is the largest exporter to
Cuba. Louisiana's exports to the island are primarily agricultural.

"It's mostly grains and animal feed, like maize," said luncheon attendee
Joel Chaisson, executive director and chief executive of the Port of
South Louisiana. "But I expect that lifting the embargo would put
Louisiana in a position to meet Cuban consumer demand."

"The trade possibilites for Louisiana ports would be unlimited,"
Schreiber added.

Panelists predicted that local tourism to Cuba would rise if relations
continue to thaw. The island nation is only 90 miles off the coast of
Florida.

"Tourism would certainly grow, and you have people like retirees who
will buy property in Cuba," Sabatini said.

The luncheon program was called "The Outlook on U.S.-Cuba Foreign
Relations and What It Could Mean for Louisiana." Len Trevino, a
professor of international business at Loyola University, also
participated in the discussion.

Allison Good can be reached at agood@timespicayune.com or 504.826.3399.

Lifting of Cuban trade embargo could be boon to Louisiana ports,
panelists say - NOLA.com (29 May 2009)

http://www.nola.com/business/index.ssf/2009/05/lifting_of_cuban_trade_embargo.html