Rapid diplomatic advances between the U.S. and Cuba this year have created a whirlwind of anticipation about the changes the island will see in 2016.

“The progress on the diplomatic side has been really, really solid, and now this lays the foundation for progress on the commercial side,” said Pedro Freyre, chairman of international practice at Akerman who also teaches “Cuba Policy, Law and Transition” as a commuting adjunct professor at Columbia University.