Cuba May be State’s Next Big Customer
December 19, 2011 - Filed under: Faculty & Staff, Highlights | Tagged: Educated Guesses
For the 31st consecutive year, The University of Alabama’s Office of Media Relations offers predictions from faculty experts for the coming year.
The Alabama business community needs to practice its Spanish, and that suggestion has nothing to do with the state’s controversial immigration law.
Dr. Jase Ramsey, an assistant professor of marketing at The University of Alabama, predicts the United States will continue to ease trade sanctions on Cuba and, as early as this time next year, some U.S. businesses will visit the island nation on state-sponsored trade missions to size up market potential.
Ramsey, whose areas of expertise include international strategy and expatriate management, has owned a number of small businesses based on import and export and has lived in Mexico, Spain, Moldova, Barbados and Brazil. He is also an avid traveler.
“Alabama’s proximity to the Communist country makes our businesses especially attractive for potential foreign direct investment into Cuba,” Ramsey says. “A key component that will determine who gets access to Cuba is prior relationships with the Castro regime and Cuban politicians.
“The businesses that are ready to do business in Cuba will potentially generate substantial sales, ultimately bringing jobs to our state.”
In 2005 Cuba had exports of $2.4 billion, ranking 114 of 226 world countries, and imports of $6.9 billion, ranking 87 of 226 countries.
The University of Alabama, a student-centered research university, is experiencing significant growth in both enrollment and academic quality. This growth, which is positively impacting the campus and the state's economy, is in keeping with UA's vision to be the university of choice for the best and brightest students. UA, the state's flagship university, is an academic community united in its commitment to enhancing the quality of life for all Alabamians.
CONTACT: UA Media Relations, 205/348-5320
SOURCE: Dr. Jase Ramsey, 205/348-6615, jase@cba.ua.edu