Here is my latest column for IBA Global Insight:
After years of negotiations behind closed doors, the US and Cuba finally brokered a deal last December, which saw the release of US government contractor Alan Gross and three Cuban agents convicted of spying on anti-Castro groups in Miami.
The significance of the move cannot be underestimated. Fernando Peláez-Pier is a former IBA President and a partner at Hoet Peláez Castillo & Duque in Caracas. He says:
‘It has been an enormous step to take the decision to re-establish diplomatic relations between the US and Cuba and to lift the embargo in the short term, although it is not yet envisioned that it will lead to a reopening of embassies in each country.
‘This is the most important decision since Carter and Castro decided to establish representation of each country’s interests in Havana and Washington. It’s the beginning of a new era in the relations between both countries, marking a before and an after.’
However, the process is far from over. ‘Whoever thinks this process will be fast would be mistaken and would fail to understand the complexity of the case and what it implies for the re-establishment of relations between two countries after more than 50 years,’
Published on 09-04-15. Read on here