Agreement to be signed at Next Round of U.S. to Cuba Sales and Commercial Negotiations in April 2004
Columbia, SC - A.J. Lanigan, manufacturer and developer of the Beta 1,3-D Glucan dietary supplement line and his consultant/attorney Tony Martinez of the firm Martinez Bass in Washington DC recently returned from a successful trip to Havana, Cuba where a series of meetings took place with ALIMPORT and Ministry of Health officialsresponsible for the purchase of U.S. food and healthcare products.
“Transfer Point, LLC will be signing a Letter of Intent for the formal evaluation and sale of our Beta 1,3-D Glucan dietary supplement products at the next round of commercial negotiations in April,” stated Lanigan. “I was very impressed with the depth of knowledge and interest in dietary supplement healthcare products shown by the Cuban health and food officials we met. They clearly see the potential value of a product like ours. They feel that it can make a difference in their health care system.”
Since the sales of food and medicine to Cuba were legalized three years ago, more than $700 million dollars of US products have been purchased. Cuba has already contracted with 124 American firms purchasing products originating in 35 states and Puerto Rico. They have established contacts with over 2,700 companies and organizations in 45 states and purchased several hundred food & agricultural items in addition to paper, lumber, and cattle. The prospects for this expanding market are excellent as Cuba now ranks as the 39th highest nation US Food export recipient. The next round of purchases will take place in Havana, Cuba in April, where it is expected that another $100 Million dollars in purchases will take place. “ I believe there will be an expansion of the sales to broaden in the food and include some supplement categories”, stated Lanigan.
Martinez, a highly regarded Food & Drug attorney and consultant with extensive knowledge of food supplements, nutraceuticals, and functional foods expressed the importance and prospects of the Cuban market, “The United States produces some of the finest natural health and nutritional products in the world. With a great appreciation and respect for natural healthcare, the Cuban market is a logical fit. The Cubans are discovering that we offer functional foods and supplements that can complement their regular purchase of food and agricultural products and make a difference in their healthcare.” Martinez will be presenting on the legal sales of food and medicine to Cuba at Natural Products Expo West/ Supply Expo on March 6, 2004 in Anaheim, CA. The Transfer Point transaction will be discussed at the presentation as well as the upcoming round of commercial negotiations in Havana April 13-16, 2004.