Cuban businesses: US allows goods sales

WASHINGTON: President Barack Obama’s administration announced on Friday it was allowing small private Cuban businesses to sell goods to US entities, in a move that could potentially loosen a half-century trade embargo. The State Department said it reserves the right to update the list of authorised and banned goods periodically. In order to export their products or services to the US, Cuban entrepreneurs must obtain from local authorities evidence certifying they are a “private entity that is not owned or controlled in whole or in part by the Cuban government,” the State Department said. The goods are subject to tariffs, taxes and other fees for importation to the US. The US government unveiled last month a set of amendments to regulations to facilitate travel and trade between Cuba and the United States. According to these measures, US telecommunications and internet companies can also invest in Cuba.

Published in The Express Tribune, February 15^th, 2015.

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