US companies clamour to do business in new Cuban market

© Khunaspix Dreamstime.

It didn’t take long. President Obama’s decision to re-instate diplomatic relations with Cuba has triggered a host of US companies to eye the new market. The trick will be to ensure that the products offered will benefit Cuba’s own domestic production or help it develop its resources. Which means Caterpillar: good, McDonald’s: bad. (And Apple: probably too expensive.) Interestingly, for the pharma logistics industry, Cuba has a “surprisingly robust” biotechnology industry – with vaccines not currently available in the US. Cuba also has one of the largest deposits of nickel in the world – so expect mining equipment manufacturers to move in. The race is on.