During his eighth trip to Latin America, U.S. President Barack Obama met with Cuba President Raul Castro for a brief, yet historic, one-on-one meeting.

Obama met with Castro during the annual Summit of the Americas in Panama, and discussions included the promotion of greater opportunity for the Cuban population.

"I told President Castro in private what I've have said in public -- that our governments will continue to have differences and the United States will continue to stand firmly for universal values and human rights," Obama said during a press conference.

"At the same time, we agreed that we can continue to take steps forward that advance our mutual interests. We'll continue to work toward reestablishing diplomatic relations, reopening embassies in Havana and Washington, and encouraging greater contacts and commerce and exchanges between our citizens."

Obama added that he is optimistic about continuing progress with the U.S. and Cuba diplomatic efforts, and its result would provide "greater cooperation" for the Latin American region. The president said most Americans support the latest policy towards Cuba. During the summit, Castro did say he respected Obama and read some of his autobiographies, but maintained a level of distrust with the U.S. Obama said his conversation with Castro was "candid and fruitful."

Obama said, "I can tell you that, in the conversations I've had so far with him -- two on the phone and, most recently, face-to-face -- that we are able to speak honestly about our differences and our concerns in ways that I think offer the possibility of moving the relationship between our two countries in a different and better direction."

Obama acknowledged there are different views on how their societies should be organized and reiterated the need for democracy, freedom of the press and improved human rights in Cuba.

The changes in Cuba, however, will be generational. Obama identified that many of Cuba's challenges occurred before his was born, and he wants all parties to understand the Cold War is over.

"But on the list of threats that I'm concerned about, I think it's fair to say that between ISIL (Islamic State of Iraq and the Levant) and Iran getting a nuclear weapon, and activities in Yemen and Libya, and Boko Haram, Russian aggression in Ukraine and the impact on our allies there -- I could go down a pretty long list -- climate change -- so I think our approach has to be one of trying to work with the region and other countries, and be very clear about what we believe and what we stand for, and what we think works and what doesn't," Obama said.

In regards to Cuba's placing on the State Sponsor of Terrorism List, Obama said he is waiting for the U.S. State Department's recommendation and he will further review it.

"But we stand ready to move forward," Obama said. "We're confident that it can lead to an improved dialogue, and our bottom line at the end is, is that it can lead to an improved set of prospects for the Cuban people."

During the meeting with Castro on April 11, the two leaders sat together with interpreters standing by their sides. Castro said he has shown the will to discuss any issue but stated that on certain issues, he will not change stance.

"We could be persuaded of some things but of others we will not be persuaded. But when I say that I agree with everything the president has just said, I include that we have agreed to disagree. No one should entertain illusions. It is true that we have many differences," said Castro.

He later added, "Our countries have a long and complicated history, but we are willing to make progress in the way the president has described. We can develop friendship between our two peoples. We shall continue advancing the meetings that are taking place in order to reestablish relations between our two countries. We shall open our embassies. We shall visit each other, have exchanges ... and all those matters that close neighbors can do."

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