MONTPELIER – October 14, 2015 – (RealEstateRama) — Gov. Peter Shumlin has joined eight Governors from across the country in sending a letter to Congressional leadership urging an end to current trade sanctions imposed against Cuba by the United States. Ending those restrictions could open up an 11 million person market for many Vermont industries, including dairy, renewable energy, consumer and manufactured goods, technology, tourism and others.
One such limitation prevents U.S. companies from offering standard credit terms, requiring Cuba to pay cash in advance, which is a serious barrier to conducting business. Without such restrictions, competitors like Brazil, the European Union, and Canada are increasingly establishing themselves as a more reliable trading source.
When it comes to the iconic Vermont dairy industry, the trade restrictions put Vermont producers at a serious disadvantage. Last year, the two largest suppliers of dairy products to Cuba were the European Union and New Zealand. Together the two countries accounted for over $160 million in dairy exports to Cuba. More…
