Cuba Publishes Text of Foreign Investment Law

In an attempt to attract foreign investment, a new law was published in Cuba on April 16th. The law, which gives tax breaks and property guarantees to investors, still makes projects fully financed by foreigners significantly more expensive than investments made concurrently with Cubans. The law requires foreigners to hire locals through a Cuban employment agency; it is a step in the right direction. Click Here.

MEPs Cut Customs Duties on Imports From Ukraine

The European Parliament voted to remove as much as 98% of the customs duties on Ukrainian iron, steel, produce, and machinery exporters pay at EU borders. This reduction will save up to $669 per year for the Ukrainian economy. Ukraine is not required to reciprocate tariff reductions, but will not be permitted to raise them under this new agreement.?Click here.