Cuba May be State?s Next Big Customer

For the 31st consecutive year, The University of Alabama’s Office of Media Relations offers predictions from faculty experts for the coming year.

The Alabama business community needs to practice its Spanish, and that suggestion has nothing to do with the state’s controversial immigration law.

Dr. Jase Ramsey, an assistant professor of marketing at The University of Alabama, predicts the United States will continue to ease trade sanctions on Cuba and, as early as this time next year, some U.S. businesses will visit the island nation on state-sponsored trade missions to size up market potential.

Ramsey, whose areas of expertise include international strategy and expatriate management, has owned a number of small businesses based on import and export and has lived in Mexico, Spain, Moldova, Barbados and Brazil. He is also an avid traveler.

“Alabama’s proximity to the Communist country makes our businesses especially attractive for potential foreign direct investment into Cuba,” Ramsey says.  “A key component that will determine who gets access to Cuba is prior relationships with the Castro regime and Cuban politicians.

“The businesses that are ready to do business in Cuba will potentially generate substantial sales, ultimately bringing jobs to our state.”

In 2005 Cuba had exports of $2.4 billion, ranking 114 of 226 world countries, and imports of $6.9 billion, ranking 87 of 226 countries.

Provided by University of Alabama