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LatinNews Daily - 16 January 2017

Businessmen plead guilty to Pdvsa bribery in US

Cuba: On 5 January, at Cuba’s foreign trade & investment ministry (Mincex) the local agency CubaExport and US company Coabana Trading LLC signed a contract for the export of Cuban Marabu charcoal to the US, the first Cuban export to the US in 50 years. According to a report by Cuba’s state-owned media Granma, the product, which normally sells on the international market for US$340-US$380 per tonne, will be sold at US$420 per tonne with the first 40-tonne shipment to arrive to the US on 18 January, two days before President-elect Donald Trump is sworn into office. The accord was signed by CubaExport director Isabel O’Reilly and the president of Coabana Trading LLC, Scott Gilbert. Granma cites Gilbert as saying “that if his [Trump’s] administration supports free trade, then there should be no problem establishing these types of agreements”. But given the largely protectionist economic stance adopted by Trump, the future signing of such agreements looks uncertain.

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