NEW YORK ( TheStreet) -- After decades of a strained co-existence with Cuba, the U.S. has taken the first step "to normalize relations" with the island nation, said the U.S. Under Secretary of Commerce for International Trade Stefan Selig in an interview with TheStreet. However, the former banker said that economic opportunities in the near-term future with Cuba would be "limited." Must Read:11 Safe High-Yield Dividend Stocks for Times of Volatility and Uncertainty "I would caution the business community to remember that it's a small country and it's a poor country," Selig said, in regard to Cuba.