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Visiting Virginia Governor Terry McAuliffe met on Monday with Cuban Minister of Foreign Trade and Foreign Investments Rodrigo Malmierca to seek new business opportunities between the island and the U.S. state.
During the meeting, McAuliffe said that his trip to Havana is aimed at boosting agricultural exports from Virginia to Cuba and promote closer links in maritime transportation, higher education and the arts.
He noted that his state had sold around 400 million U.S. dollars worth of agricultural products to the island in the past decade, including the 25 million dollars in 2015.
However, McAuliffe noted that bilateral trade was afflicted by disadvantageous conditions of Cuba since the advance payment was made in cash through bank branches in third countries, without the possibility of loans and due to the prohibition on the use of U.S. dollars in such transactions.
He called for the lifting of the economic blockade on the island. Speaking at a business forum, he said the move is also in the interest of the U.S.
"We must work quickly to lay down the groundwork to eliminate restrictions for bank loans, as we have with other partners in the world," said McAuliffe, adding that not doing so would see Cuba find other suppliers.
Since his election in November 2013, the governor has worked to expand Virginia's relations with Cuba and has regularly called on Congress to lift the economic, trade and financial blockade against Havana.
For his part, Malmierca highlighted how the blockade impairs normal relations and that, while President Barack Obama has taken steps in the right direction, this remains unresolved.
According to Malmierca, Cuba cannot gain credits from American banks and cannot export any products to the United States, two areas which would anchor a normal business relationship.
McAuliffe arrived in Cuba on Sunday for a three-day visit, heading a political and trade mission seeking new areas of economic and social exchange with the Caribbean island.
