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Europeans rush to seek Cuba deals

Thursday, July 09, 2015 - 01:06

European officials and businesses are flocking to Cuba as a result of the thaw in U.S.-Cuba relations. Sean Carberry reports.

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STORY: European diplomats and business leaders aren't hopping flights to the Caribbean to enjoy the beaches. They are looking to tap into what could be the beginning of a Cuba boom. An Italian delegation arrived in Cuba with representatives of 140 Italian firms. Italy's Under-Secretary for Foreign Affairs, Mario Giro, says that Italian companies have 14 projects planned for Cuba's Chinese-style special development zone. (SOUNDBITE) (Italian) ITALY'S UNDER-SECRETARY FOR FOREIGN AFFAIRS, MARIO GIRO, SAYING: "The crowning glory was when President Raul Castro visited Rome. He told us to hurry up and come with our companies." Similar delegations from France, Britain and the Netherlands have arrived in recent weeks. It all accelerated when Washington and Havana agreed to restore diplomatic ties. If President Obama is able to convince Congress to lift the five-decade old Cuban embargo, U.S. businesses would again be able to set up shop in Cuba. Which is why the Europeans are attempting to corner Cuban markets while they still can.

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Europeans rush to seek Cuba deals

Thursday, July 09, 2015 - 01:06