24 April 1997
CNN Interactive
Associated Press

France announces trade accord with Cuba

France has reached a trade agreement with Cuba, the latest salvo in its dispute with Washington over the longtime U.S. embargo against the Communist island nation.

French officials announced the accord Thursday, saying it allows for investment guarantees, repatriation of profits, guarantees against nationalizations and arbitration procedures.

There was no comment from U.S. officials.

The announcement came three days after France and the rest of the 15-nation European Union told the World Trade Organization that it was suspending its trade dispute with the United States over anti-Cuba legislation.

The U.S.-EU accord calls for the United States to tone down the 1996 Helms-Burton Act, which punishes countries and foreign companies that do business with Cuba. The law expands U.S. economic sanctions imposed on Cuba after the 1959 Communist revolution .

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