{"id":289283,"date":"2023-09-27T21:26:56","date_gmt":"2023-09-28T01:26:56","guid":{"rendered":"https:\/\/oncubanews.com\/en\/?p=289283"},"modified":"2023-09-27T21:26:56","modified_gmt":"2023-09-28T01:26:56","slug":"cuban-private-businesspeoples-expedition-in-miami-paths-that-open","status":"publish","type":"post","link":"https:\/\/oncubanews.com\/en\/cuba-usa\/cuban-private-businesspeoples-expedition-in-miami-paths-that-open\/","title":{"rendered":"Cuban private businesspeople\u2019s expedition in Miami: paths that open"},"content":{"rendered":"

This week, the city of Miami hosted an unprecedented, hopeful and historic meeting. At least this is the case for those who seek to open viable paths to the growing economic interests between business actors in Cuba and the United States.<\/span><\/p>\n

Despite the difficult context of bilateral relations marked by the embargo\/blockade and the extensive repertoire of sanctions against Cuba that remain in force, these businesspeople from both shores met to identify the existing alternatives and their points of contact.<\/span><\/p>\n

More than 70 private businesspeople from the island traveled to Miami this week and were received by Cuban-American and U.S. colleagues, to establish contacts and forge alliances with their peers, waiting for new flexibilities to be announced from Washington that favor expansion and strengthening of the Cuban private sector.<\/span><\/p>\n

In their welcoming remarks of each of the two work days, the former mayors of Hialeah, Ra\u00fal L. Mart\u00ednez, and of Coral Gables, Ra\u00fal Vald\u00e9s-Fauli, highlighted the significance of this meeting and praised the value of entrepreneurship to promote the economic development of a community, as evidenced by many Cuban emigrants in Miami and the new private entrepreneurs in Cuba are trying to do today.<\/span><\/p>\n

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Photo: OC.<\/figcaption><\/figure>\n

Study the regulations<\/b><\/p>\n

Legal experts and officials from the Biden administration responded to this call to clarify the limits and opportunities available so far to establish economic relations at this level. They provided first-hand explanations about the current U.S. government policies and regulations for trade with Cuba.<\/span><\/p>\n

Lawyers from the firm Akerman LLP, a law firm with extensive work on the subject, also insisted on the legal framework and urged private businesspeople on the island to delve deeper into these regulations to facilitate the relationship with their U.S. counterparts and avoid fears and confusion ruining potential business.<\/span><\/p>\n

Nothing to announce, for now<\/b><\/p>\n

During the first day of the event, officials from the Department of State, the Department of Commerce and OFAC provided details about the general and specific licenses that, even with the limits and prohibitions of the embargo\/blockade, allow certain imports and exports, and other operations between companies from both countries.<\/span><\/p>\n

In particular, Zack Haas, who spoke on behalf of the State Department, reiterated the Biden administration\u2019s willingness to support the island\u2019s private business community, in line with what was announced in <\/span>May 2022<\/span><\/a>, and announced that possible changes in the current regulations are being studied.<\/span><\/p>\n

However, he assured that, for the moment, there was nothing new to announce, despite recent press publications about banking and technological facilities for private entrepreneurs in Cuba.<\/span><\/p>\n

Biden administration could announce measures to provide \u201cgreater financial support\u201d to SMEs in Cuba<\/a><\/p><\/blockquote>\n