AS/COA Commends Further Easing of Cuba Sanctions Regulations

The changes will expand scientific collaboration and more.

New York, October 14, 2016—Americas Society and Council of the Americas applaud U.S. President Barack Obama’s commitment to expand U.S. engagement with Cuba by releasing a series of amendments to Cuba sanctions regulations that continue the process of normalizing bilateral relations with the island. The executive actions taking effect October 17, 2016, will expand scientific collaboration, facilitate increased humanitarian support, and bolster trade, travel, and commercial opportunities.

“We continue to move toward normalization and greater bilateral engagement with each round of regulatory changes, which we welcome wholeheartedly,” said AS/COA Policy Senior Director and Cuba Working Group head Alana Tummino. “Particularly in the health sector, AS/COA has traveled to Cuba and witnessed first-hand the immense innovation and knowledge of Cuba’s science and biotechnology fields over the years. We are excited to see what can be achieved with increased collaboration in this sector.”

In addition to these measures, the Obama administration announced the Presidential Policy Directive that assesses the efforts already made to normalize relations with Cuba and establishes priorities and actions that will further deepen engagement with the Cuban government and people.

View the complete Treasury regulations and Commerce regulations.

For almost a decade, AS/COA has stood at the forefront of supporting U.S. policy opening, economic development, entrepreneurship, and engagement in Cuba. The AS/COA Cuba Working Group will be leading its next senior-level business delegation to Havana in November to continue promoting the benefits of economic ties between both countries.

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Americas Society is the premier organization dedicated to education, debate and dialogue in the Americas. Established by David Rockefeller in 1965, our mission is to foster an understanding of the contemporary political, social and economic issues confronting Latin America, the Caribbean, and Canada, and to increase public awareness and appreciation of the diverse cultural heritage of the Americas and the importance of the inter-American relationship.

Council of the Americas is the premier international business organization whose members share a common commitment to economic and social development, open markets, the rule of law, and democracy throughout the Western Hemisphere.

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.