Panel on U.S. and Cuban Relations Brings Together Experts and Economists

Americas Society/The Council of the Americas (AS/COA) in New York City along with CAF-Development Bank of Latin America, hosted a half-day conference that was a review and a look ahead on Cuba. It also brought together economists and experts to discuss what's next in Cuban and U.S. relations.

The Americas Society Cuba Working Group presented experts, an analysis of Cuba's economic reform and the economics of financing and investing opportunities in Cuba. The conference took stock at where the two countries are at this juncture since the December 2014 easing of relations.

Among the panels was "A New Era of U.S.-Cuba Relations," with Alex Lee, deputy assistant secretary for South America and Cuba at the U.S. Department of State, Alana Tummino, director of policy and head of Cuba Working Group at AS/COA and Kelly Welsh, general counsel at the U.S. Department of Commerce. The panel discussed what the new relationship between the U.S. and Cuba means in the long-term and how the changing dynamics between the two nations is already shifting how the each view each other.

"The View from Havana: Cuban Economic Reform and a Look to the Future" brought together two Cuban economists and professors from the Study for the Center of the Cuban Economy, University of Havana, IIeana Diaz Fernandez and Ricardo Torres Perez, along with moderator German Rios, director of strategic affairs at CAF- Development Bank of Latin America. They talked about among other things the path Cuba is going toward economic reform, the impact of these reforms and both the positive and challenges that lie ahead.

The US embargo against Cuba was talked about by U.S. Rep. Tom Emmer, R-Minn., who introduced legislation, along with Kathy Castor called the "Cuba Trade Act of 2015," which removes long held trade and travel restrictions on American businesses and citizens. Emmer said that 30 members of the House signed on to the legislation. Emmer indicated if the American people want to have the embargo lifted they need to become engaged, tell elected officials they are in favor of doing away with the embargo because it will mean jobs in the United States.

"I am interested in building relations. After 54 years and 11 Presidents it did not work. Perhaps when it would have worked was when the Soviet Union collapsed and it did not," said Emmer.

Emmer went on to say that we risk stagnation and must be willing to do the hard work to get into the Cuban marketplace and be competitive.

Another panel discussed the prospects of greater U.S. travel and trade with Cuba. The panelists included Emmer and AS/COA President and CEO Susan Segal. They talked about the possible removal of the embargo and what that may mean to U.S. businesses.

Emmer said that the U.S. has been focused in the Middle East and other parts of the world for a long time, it is now time to be engaged in the Western Hemisphere and to be attentive to the U.S.'s own backyard.

The conference is part of the AS/COA Cuba Working Group work on relations with the United States and Cuba.