Over the past few days there has been a lot of news about the recent meeting during the Summit of the Americas in Panama City. The Summit marks the first time in over 50 years that the U.S. and Cuba have publically met.

In addition to the meeting, President Obama has requested to remove Cuba from the list of State Sponsored Terrorism. While still in disagreement with the Cuban government, the criteria for Cuba to be considered a Sponsor of terrorism no longer exists.

Renewed relations could jumpstart the Cuban tourist industry.

Cuba was originally placed on the list in the early 1980’s for providing support to various revolutionary groups throughout Latin America. This coupled with their ties to the USSR made the U.S.’s decision an easy one.

Over the past few years however, their support for revolutionary groups has dwindled. As such, the Cuban government has assured the U.S. that they will not provide support for any revolutionary or terrorist group in the future.

Final removal from the list would require Congress to approve the President’s request. If approved, it could have lasting effects on both countries. The immediate outcome would be the opening of embassies in Havana and Washington D.C.

This move also has major economic and social implications for both countries. The benefits from trade will be paramount for Cuba, and will provide the U.S. with another regional partner. This move may also reunite families that were torn apart due to refugees fleeing Cuba for U.S. soil.

Cuba was once a vacation hot spot for many Americans before relations were severed in the mid 50’s. Renewed relations could jumpstart the Cuban tourist industry. The winners of this potential outcome would be Americans with a new Caribbean travel destination, and Cuban business owners who would greatly benefit from new vacationers.

What these renewed relations signify to the world is that although there are still ideological differences between the U.S. and Cuba, both countries are willing to put aside those difference for a greater cause. This could also signal future cooperation between the U.S. and other countries like Venezuela and Colombia that also have differing political stances.

What’s great about this meeting is that it provides the sense that the U.S. may be shifting its foreign policy strategy. Previously seen as enforcing their will wherever they may, this softer approach may be more beneficial for relations with other countries in the future.

There are also many people who are wary of this political move and question whether it will influence change within the Cuban boarders. While Cuba has free healthcare and education for its citizens, the economy is still a major problem for this communist country. Although the renewed relations with the U.S. should definitely help on this front, it is still a major concern.

What these renewed relations signify to the world is that although there are still ideological differences between them, both countries are willing to put aside those difference for a greater cause.

Many Cuban-Americans send money back home to support family members. There are still restrictions for how much money can be sent back, but if the recent meeting is any indication, those restrictions may be softened.

Ancillary benefactors from these proceedings will be Cuban athletes, along with Major League Baseball and the NBA. The MLB has recently seen an influx of talented Cuban players over the past few years. Several days ago the NBA set up a four-day trip for later in the year to take place in Cuba to gauge the interest of the fans and potential investors.

These dealings could have a major impact on the future of the Cuban economy. A professional sports team in Cuba could generate thousands of jobs. Another advantage of this would be the added exposure to potential business investors. While this is still in the distant future it is important to recognize the impact this can have on Cuba.

It seems both countries were finally ready to put their differences aside to begin to make peace. This bodes well for the future dealings between the countries as well as displaying how adversaries can cooperate in order to benefit both sides.

Hopefully sooner rather than later, Americans and Cubans will be able to freely travel to each other’s respective countries and experience what has been prohibited to them for so long.

-Mark Siatta