Eighth
Round of CAFTA Talks Open Today
For
nearly 1,200 Houston businesses, the negotiations to
open up trade with Central America could shape their
future.
One of the biggest of
these companies is Houston-based Riviana Foods,
which is one of the largest manufacturers of cookies
and crackers and processors of fruits and
vegetables.
Riviana's Central America unit, with $90 million a
year in revenues, has had a significant presence in
Central America for 30 years.
It's best known for
being the leader in the retail rice market in the
United States, with brands like Mahatma and Success
Rice. However, the company deals in wholly different
products in Central America -- cookies, crackers,
fruits and vegetables.
The cookies and
crackers are under the Pozzuoli brand and are
produced in Costa Rica. The fruits and vegetables,
which include nectars and juices sold under the Kern
brand, are produced in Guatemala.
The company employs
about 275 people in Guatemala and about 800 people
in Costa Rica.
Company executives
support increased trade with the region, not so much
to increase their own sales, but because they hope
the Central American Free Trade Agreement will boost
the economy of the struggling region.
"We do see a
stability factor in terms of the region, a
credibility factor in terms of other U.S. businesses
being more willing to commit capital and do business
in Central America," said David Hanks,
executive vice president, who oversees Riviana's
Central American operations.
"We think that
will be good for the overall economic situation in
the region."
What's good for
Central America would also be good for companies
ranging from Houston-based Continental Airlines,
which offers daily flights to every country in the
region, to Houston-based Jaymark Engineering Corp.,
which has an office in Nicaragua.
A total of 29
Houston-based companies operate subsidiaries in
Central America, and almost 1,200 other Houston
companies trade with the region, according to
figures provided by the Greater Houston Partnership.
To promote more trade
with the region, the partnership is hosting a series
of events this week under the banner of
"U.S./Central America Business Week in
Houston."
This is the eighth
round of CAFTA talks, and some observers say this
could be the make-or-break meeting for the yearlong
effort, which will conclude with a meeting in
December in Washington, D.C.
U.S. Adds 134 to
List of Accused Cali Associates
The Treasury
Department on Friday ordered U.S. banks to freeze
any assets they find belonging to 134 businesses and
individuals Treasury says are linked to Colombia's
notorious Cali drug cartel.
Treasury's Office of
Foreign Assets Control said it had added 39
businesses and 95 individuals to its blacklist of
Specially Designated Narcotics Traffickers. The
action means banks must comb through their records
and freeze any assets they find that belong to those
listed.
Added to the list on
Friday were 25 Colombian businesses and 93 Colombian
nationals, as well as people and firms located in
Spain, the Bahamas, the British Virgin Islands,
Ecuador, Costa Rica, Peru, Panama and
Venezuela.
One U.S. business,
Ash Trading Inc., of Pembroke Pines, Florida, was
also listed. A Treasury spokesman said the firm was
a front company that existed only on paper.
It was unknown late
Friday if any of the firms or the individuals
actually had assets in the United States.
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