US Blockade Leaves Toll on Cuban Foreign Trade

Havana, Sep 30 (Prensa Latina) Cuba’s foreign trade lost 3.9 billion dollars in lost incomes from exports of goods and services last year due to the economic blockade imposed by the Unites States.

Pedro Luis Padrón, head of the North America department at the Ministry of Trade and Foreign Investment (MINCEX) explained that if Cuban products like cigars and rum had access to the US market, the island would have received about an additional of 205.8 million dollars.

He noted how the Cuba special education includes 982 educational workshops to prepare students for their full social and professional integration.

However, economic restrictions difficult the access to raw materials, machinery inputs and technologies, affecting more than 22 872 students with special educational needs.

Padrón stressed that for those and many other commercial transactions the financial costs are really high, given the threat of sanctions against those that supply goods or invest in Cuba.

In the light of the next presentation to the United Nations General Assembly of the 33th report of the impacts of the economic blockade in Cuba, Padrón stressed that the persecution of foreign investors prevents access to the US market and financing from US banks for the development of foreign investments, as it increases the costs of other sources of financing due to extraterritorial actions.


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