M&A Practice Group Partner Bruce Colan was featured in the article, "Some optimistic about end to U.S. ban on trade with Cuba," in the July 27, 2009 edition of Florida Shipper Digital Magazine.
The article discusses the Trade Sanctions Reform and Export Enhancement Act of 2000, statutes that allow the U.S. to export food products and agricultural commodities to Cuba. Despite the small volume of trade compared to other countries in the region, some say this may be a sign of a potential thawing of the freeze in the trading relationship. Mr. Colan, the founding chairman of the Greater Miami Chamber of Commerce's Cuba Committee, foresees the possibility of the trade embargo being lifted without Cuba's government reform. "It would be better for business if Cuba were a democracy," he said, stating that the risk of them engaging in export practices that violate global trade rules and other legal issues can be frustrating to U.S. investors.