General Electric Heads to Havana | Connecticut Public Radio

General Electric Heads to Havana

Mar 22, 2016

General Electric wants to be one of the first American companies to capitalize on the thaw in U.S.-Cuba relations. The Fairfield-based conglomerate expressed its interest in providing power, aviation and medical equipment to the Cuban government in an agreement signed Monday. 

The details have yet to be fleshed out, and there are no firm deals for specific goods. GE says any any commercial activity will adhere to U.S. policy and licensing requirements.

So far, despite President Obama's historic visit to Cuba, and the re-establishment of diplomatic relations, Congress has declined to lift the trade embargo with the island nation.

"While we are at the early stages of evaluating the market potential," said GE spokesman Josef Skoldeberg, "we believe that Cuba has needs in areas where GE has solutions, particularly in healthcare and infrastructure."

GE has shown an appetite for expansion into previously forbidden markets; it was also one of the first to explore commercial ties with Iran after the lifting of sanctions there.