New York, March 21, 2016—Americas Society/Council of the Americas applauds long-time AS/COA Cuba Working Group member Western Union for its launch of new services to Cuba following U.S regulatory changes that allow Cubans and non-Cubans to send remittances to the island. The company has been a leader in the island's remittance market, and for the first time will move money into Cuba from beyond U.S. borders.
“It is a significant announcement that truly captures the spirit of the administration’s new opening with Cuba,” said Americas Society/Council of the Americas President and CEO Susan Segal. “Western Union’s ability to facilitate remittances from throughout the world to Cuba is a game changer in empowering Cubans and supporting their everyday lives and entrepreneurial activities.”
“It is a privilege to connect Cubans from almost anywhere in the world in a matter of moments to their home community, and it is even more historic to be associated with the anticipated economic multiplier that will come with new injection of remittance flows into Cuba,” said Western Union's President of the Americas and European Union Odilon Almeida. “Western Union has been a member of the AS/COA Cuba Working Group for almost a decade, and we value that relationship and its expertise in the Cuban market.”
Over the last ten years, AS/COA has stood at the forefront of supporting U.S. policy opening, economic development, and engagement in Cuba.
AS/COA's Cuba Working Group (CWG) includes corporate leaders from the worlds of banking, financial services, energy, telecommunications, hospitality, pharmaceuticals, and law. Working group meetings look at the steps companies can take under current U.S. restrictions to pre-position themselves for future investment. This effort has produced a series of papers on regulations and laws affecting U.S. business activity under the U.S. embargo and in Cuba.