Latinvex Quotes Dino Barajas on Outlook for U.S.-Cuba Relations
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Akin Gump cross-border transactions partner Dino Barajas was quoted in the article “Latinvex asks four leading experts on US-Cuba outlook,” discussing the impact that tightened U.S. rules on Cuba have had on U.S. law firms and their Cuba-related business.
Barajas said Cuba remains attractive for Akin Gump’s clients, with the firm having launched a formal Cuba initiative that combines the experience of its international trade lawyers with others like him who have deep experience in Latin America.
“We now have the ability to field bi-lingual and bi-cultural legal teams, which can assist clients in exploring Cuban market opportunities,” said Barajas. “A number of our clients have had early market success by dedicating resources and business teams to exploring the needs of the local market. Success requires a long term commitment to the local market and listening closely to local market participants regarding their immediate needs rather than simply trying to force existing models into a new market, which may be structured different than other markets.”
Barajas pointed out that the Cuban market is very attractive to suppliers looking for new markets for their products. “The market provides a unique opportunity to U.S. suppliers, which are looking to expand their regional presence in the Caribbean. Given the shared language with most of Latin America, suppliers already delivering their products to Latin America can deliver services and products into the Cuban market with little or no repackaging,” he said.
Speaking about Cuba’s new President, Miguel Diaz-Canel, Barajas thinks there will be “numerous opportunities to fast-track the opening of the Cuban economy as countries begin to re-approach the new administration to gauge its interest in expanding trade. Cuba’s prominence,” he added, “in organic and sustainable farming will give it an amazing opportunity in exporting its agricultural products internationally given the new found global interest in organically sourced fruits and vegetables.”