New York, September 25, 2015 —The AS/COA Cuba Working Group today in its New York City offices hosted Cuban Minister of Foreign Trade and Investment Rodrigo Malmierca Díaz and Director of U.S. Affairs at Cuba’s Ministry of Foreign Affairs Josefina Vidal. The meeting convened a group of senior-level business executives from a variety of sectors and industries.
“We believe the business community will play a crucial role in continuing to move the needle toward greater normalization between the United States and Cuba,” said AS/COA President and CEO Susan Segal. “Sitting together to discuss potential business ventures, challenges that exist, and navigating the country’s investment framework are important conversations that bring us closer to this goal.”
“U.S. companies are eagerly looking to the Cuban market for investments in a variety of sectors. And with the Cuban government hoping to raise about $2 billion a year in foreign capital, you can imagine there is great interest in meeting with executives and seeing what opportunities are available,” said AS/COA Director of Policy and Cuba Working Group head Alana Tummino.
Founded in 1965, Americas Society and Council of the Americas (AS/COA) are dedicated to fostering an understanding of the contemporary political, social, and economic issues confronting the hemisphere. The organizations have been at the forefront when it comes to supporting U.S. policy opening, economic development, entrepreneurship, and engagement in Cuba. Over the last seven years, AS/COA's Cuba Working Group (CWG) has brought together senior corporate leaders, U.S. government representatives, foundation leaders, and Cuba experts for private and public meetings to discuss U.S.-Cuba relations and the potential for future policy modifications. In June 2015, AS/COA led its third business delegation to Havana to continue promoting the benefit of economic ties across the Florida Straits.
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.