US President Barack Obama’s “new course in relations with Cuba,” announced in December 2014, has culminated with his official visit to The Havana, the first of a US leader since Calvin Coolidge in 1928. Since the important step for normalization of Cuba’s finances reached at the Paris Club in December 2015, there have been greater expectations for US business development in Cuba.
Despite the fact that economic and trade relations between the US and Cuba will likely grow at a slow pace given that the Raul Castro’s government appears more interested in developing business ties with Chinese and European partners, Obama’s visit has been generally welcomed as “groundbreaking” for a long-term rapprochement.
After a blockade enforced since 1961, both sides’ caution on how and at what pace to develop ties seemed logical, not to mention that GOP Presidential candidates like Ted Cruz said they would re-consider Obama’s new course. Once Obama’s successor is known, said analysts, it will be easier for US companies to decide whether or not it’s appropriate to enter the Cuban market. Besides, the same is true about Iran.