The eMerge Americas 2016 Conference was hosted in Miami, Florida last week during which two sessions were held regarding U.S. policy toward Cuba. Moderated by NBC-Telemundo 51’s Alejandra Molina, the panel included President and CEO of Stonegate Bank, Dave Seleski; Brookings’ Ted Piccone and PobleteTamargo attorney, Jason Poblete. 

During the discussion about the potential of a future Cuba market, Poblete stressed caution to U.S. companies before engaging in Cuba transactions. While there are opporunities, albeit limited, especially in telecommunications, travel, healthcare, and agriculture, Cuba remains subject to a comprehensive economic embargo and, in practice, there is no private sector in Cuba.

Poblete also stressed that companies that could engage in Cuba transactions also needed to be mindful of confiscated properties in Cuba, the claims for which are held by American citizens. Cuba owes U.S. taxpayers close to $8 billion for these claims and, under U.S. law, it is illegal to traffick in these properties without U.S. government authorization to do so. 

Further information vist the eMerge website. The video of the presenation should be available shortly.