The Cuba Summit A new chapter Washington DC December 3rd 2015

The Cuba Summit A new chapter Washington DC December 3rd 2015


President Barack Obama's December 17th announcement that the US is seeking to normalise relations with Cuba marked a historic shift after more than 50 years of hostility. Progress since then has been gradual, but significant. Business leaders across the world are now watching closely to assess new market opportunities that could arise as a result. Cuba will undoubtedly face challenges as it moves towards ironing out problems in its own domestic economy – a vital step before investors take the plunge – but the untapped opportunities that result will have a revolutionary impact. To date, foreign businesses operating in Cuba have faced many restrictions, which have prevented them from
responding quickly to emerging opportunities. A 2014 reform to the foreign investment law improved some terms for foreign investors and signalled an increase in official interest in expanding the scale and scope of foreign business involvement. In this context, a shift in US-Cuban relations will give a further boost to Cuba’s integration with the global economy, opening a new frontier for international companies. Several pillars make Cuba stand out relative to its regional counterparts. The country boasts one of the best educational systems in Latin America, generating not only one of the highest literacy rates in the hemisphere but also exceptionally high college graduate rates of PhDs in the natural sciences. Crime rates are low, its port infrastructure has recently been upgraded and it has close relations with its neighbours in the Caribbean and Latin American region. All these factors create a solid foundation for a knowledge economy and strong trade growth, ready to take advantage of new opportunities offered by foreign investment. At The Economist Events first Cuba Summit in the US, our editors, business and policy leaders and industry experts will explore Cuba’s changing economic, social and political future and what it means for business. The interactive one-day conference will identify the opportunities offered by the market and the risks that need to be considered. We will tackle questions such as: What can US companies learn from European and Canadian companies that are already operating in the market? Which sectors stand to benefit the most from the changes under way? What are the limits on business opportunities now? What are the prospects for the expansion of the Cuban market in the medium and longterm?


 Chairs and moderators: Beñat Bilbao-Osorio, Regional director for Latin America and the Caribbean, The Economist Intelligence Unit Irene Mia, Global editorial director, The Economist Intelligence Unit Michael Reid, Senior editor and columnist, Latin America, The Economist Confirmed speakers: Bill Belt, Senior director, technology and standards, Consumer Technology Association Tomas Bilbao, Executive director, Cuba Study Group Matthew Borman, Deputy Assistant Secretary of Commerce for Export Administration, US Department of Commerce Devry Boughner Vorwerk, Vice-president of corporate global affairs, Cargill Hiram Centelles, Co-founder, revolico.com, fonoma.com, yagruma.com Hazel Denton, Population economist, Georgetown University Marta Deus, Founder, Deus Financial Services Jessica Faieta, Regional Director for Latin America and the Caribbean, UNDP Dr. James Fitzgerald, Director, health systems and services, Pan American Health Organization Jeff Flake, Arizona Senator, US Senate Pedro Freyre, Partner, Akerman Elio Lopez, “El transportador,” el paquete semanal Fernando Funes Monzote, Agroecologist, farmer-entrepreneur, Finca Marta Yondaine Guiterrez, Co-founder, AlaMesa Ernesto Hernández-Catá, Treasurer, Association for the Study of the Cuban Economy Paul Johnson, President and owner, Chicago Foods International Group William Lane, Senior director, global government and corporate affairs, Caterpillar Scott Laurence, Senior vice-president, airline planning, JetBlue Alex Lee, Deputy assistant secretary for South America and Cuba, US Department of State Andrew Macdonald, CEO, Esencia Group Doug Madory, Director of internet analysis, Dyn Network David Pathe, President and chief executive, Sherritt International Corporation Matthew Pickles, Country managing partner, EY Dave Seleski, President and chief executive officer, Stonegate Bank John Smith, Acting director, Office of Foreign Assets Control, US Department of the Treasury Ricardo Torres, Associate professor, Centro de Estudios de la Economía Cubana (CEEC), University of Havana José María Viñals Camallonga, Partner, Lupicinio International