In the wake of President Barack Obama's historic visit to Cuba, GE has signed memorandums of understanding with the island nation's government covering opportunities in the aviation, healthcare, and energy sectors.
The agreements stipulate that any commercial activity by the company in Cuba will adhere to U.S. policy and licensing requirements. GE also stated that it is still evaluating the Cuban market, which has been closed to U.S. companies since 1960.
"While we are at the early stages of evaluating the market potential, we believe that Cuba has needs in areas where GE has solutions, particularly in healthcare and infrastructure," the company said in a statement.
Obama's visit to Cuba this week was the first by a sitting U.S. president since Calvin Coolidge in 1928.
