A PYMNTS Company

Cuba: Government launches new rules to protect state monopolies

 |  September 29, 2013

New regulations were launched last week against allowing retailers in the nation to sell imported goods at prices lower than domestic ones in a motion to protect state monopolies just three years after the government allowed retail services to form.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The Communist-run nation has outlawed practices of individuals purchasing state-priced goods and reselling them at higher prices. But the new regulation would also ban the sale of imported goods at lower prices than what the state sets.

    Reports say Cubans appeared to disapprove of the new measure, though support the ban on reselling domestic product.

    The government launched the regulations back in July.

    Full Content: Reuters

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.