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Pirates or Partners? Cuba-Puerto Rico Commercial Relations in a Post-Embargo Scenario
Authors: Julia Sagebien & Ramón Coto-Ojeda
Publishing Date: November 30, 1999
Abstract:
Pirates or Partners? Cuba-Puerto Rico Commercial Relations in a Post-Embargo Scenario analyzed the commercial and trading opportunities of Puerto Rico in Cuba. The paper’s focus is on the strengths and weaknesses of Puerto Rico as a competitor in the Cuban market. Since the moderate market opening of Cuba in the mid 1990’s, interest in business opportunities in Cuba has emerged in Puerto Rico, much as it has in other countries. Given that most business opportunities of United States persons with Cuba is limited by the U.S. embargo, the discussion centers on a post-U.S. embargo scenario. In the paper, that was published for and defended before the Association for the Study of the Cuban Economy (“A.S.C.E.”), we reviewed the then-current economic data on both islands and of previous studies on their likely post-US-embargo commercial relationship. The findings made then, that are still current today, suggest that there will be some trade and investment diversion for Puerto Rico, as well as trade and investment creation coupled with foreign direct trade and investment (not subject to the U.S. embargo) opportunities for both islands. Specifically, the analysis revealed that the professional services, construction, manufacturing, and small and medium-sized business sectors will provide the best opportunities for Puerto Rican firms and a win-win scenario.
This article has been repritend in Vol. 23; Cuba Briefings (Georgetown University), and translated into Spanish at Vol. 9 Rev. C. Sociales U.P.R. 72 (June 2000).