It seems clear that the decision to normalize diplomatic relationships with Cuba would grant American companies with access to a new market, while providing Cuban workers the opportunity to develop in their own country.

Companies such as General Motors Co., Caterpillar, Cargill Inc. and furniture retailer Ethan Allen Inc. celebrated the announcement made by the White House, which stated the USA intentions to restore relationships with Cuba and start dismantling the embargo established 54 years ago. The announcement includes measures to encourage trade between both countries, authorization to export certain American goods to Cuba, lifting restrictions on financial transactions and making the limits of money remittances to the country more flexible.

There are plenty of opportunities in agriculture, telecommunications, retail, tourism and human resources in Cuba. However, several obstacles remain. The greatest hurdle still is the embargo to complete trade between both countries, a policy that may only be lifted by the congress.

The US will allow certain exportations to Cuba, such as home construction materials, agricultural equipment and goods used by small businesses, (for example restaurants and barber’s shops). US authorities said that during the past year the country exported over US$300 millions in medicines and US$3.000 on food free of embargo to Cuba. This is an encouraging sign for American exporters.

During the 50’s, commercial relationships between these two countries were intense. Pan American World Airways used to transport American tourists to casinos and resorts in La Habana, Cuba was a major sugar exporter and the US was its main commercial partner and investor. The natural resources of the island were a strong source of profit for American companies.

Since the American embargo was established in 1960, American companies have lost the over 11 million consumers they used to have only 154 km away from the coast of Florida.

Today, Cuban economy remains highly controlled by the government. Consumers are quite poor and the market relies on multinational companies from other countries that still have bonds with the island.

It is a slow path but it will have profound changes. Big telecommunication companies might be cautious while taking their steps. Though Cuba is a potentially attractive market due to the minimal existence of internet and mobile communications services, the investment of these companies will depend on Cuban regulations, said Sergey Dluzhevskiy, analyst at Gabelli & Co.

American airlines have been preparing for years for the opportunity to fly to the island, operating flights for charter companies authorised by USA government. For example American Airlines Group Inc. flies to Cuba 20 times per week, carrying humanitarian workers, journalists and other Cuban-Americans who are authorised to visit the island.

American hotel companies are eager to make business in Cuba, including Hilton Worldwide Holdings Inc., which opened the Habana Hilton in 1958, a hotel that was later nationalized by Castro’s government.

This is good news for American farmers as well, as they will be able to export their harvests to Cuba with no severe restrictions that unnecessarily make operations more complex, such as the requirement that states that buyers must pay in advance.

Great changes are coming. A few years ago, during a trip to Cuba, I found out the waiter attending on me was a geologist. In a labour environment controlled by the State, this man had realised he made more money receiving tips in dollars than following his career. In the years to come he might be able to apply his skills in the proper area.