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25/02/2015

“It’s always a pleasure to have you around here every year,” said Jorge Luis Fernandez Maique, Marketing vice president with Habanos S.A. during the opening of the 17th Habano Festival’s International Seminar.

Mr. Maique skimmed through the company’s outcomes in 2014 that chalked up $439 million in sales, down 1 percent from the previous year as a result of soaring taxes levied on Cuban cigar by the European Union –it jumped from 9.1 percent in 2013 to a staggering 26.6 percent last year. Another element that exerted influence on this slip was the economic crisis that hit Africa, the Middle East and Ukraine, though this situation was offset by the rebound of the Spanish, Swiss and Arab Emirates markets. Over 7,000 experts scattered in some 1,600 outlets around the globe speak volumes of the expansion of Cuban premium cigars year after year.

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