President Barack Obama officially announced the reestablishment of diplomatic relations with Cuba and the reopening of respective embassies.

"This is a historic step forward in our effort to normalize relations with the Cuban government and people and begin a new chapter with our neighbors in the Americas," said Obama on Wednesday morning from the White House Rose Garden.

The U.S. closed its embassy in Cuba in and there have been "real and profound" differences between the two countries as noted Obama.

"The progress that we marked today is another demonstration that we don't have to be imprisoned by the past," continued the president, disclosing that Secretary of State John Kerry will formally travel to raise the U.S. flag at the embassy this summer.

"This is not merely symbolic. With this change, we will be able to substantially increase our contacts with the Cuban people, we'll have more personnel at our embassy and our diplomats will have the ability to engage more broadly across the island that will include the Cuban government, civil society and ordinary Cubans who are reaching for a better life," said Obama.

Despite the reopening of embassies, Obama said "some serious differences" still exist, including freedoms of speech, assembly and information. Although there may be differences, Obama said he still believes the best path forward is engagement.

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"Americans and Cubans alike are ready to move forward. I believe its time for Congress to do the same," said Obama, calling for lawmakers to end the Cuban embargo. The president acknowledged there are politicians who want to maintain the isolation policy, but he said the approach of the last 50 years has not worked.

U.S. Sen. Bob Menendez, D-N.J., said Wednesday's announcement should not be considered progress since diplomatic aspects have not been answered.

"Today's announcement cannot be considered normalization of relations between Cuba and the United States if it fails to speak to key issues such as whether all U.S. diplomats will be restricted from moving freely throughout the island, if the U.S. government will be limited in the number of diplomats assigned to staff an embassy, or if diplomatic mail can be searched and potentially seized by Cuban authorities," said Menendez in a statement.

The New Jersey senator said the Cuban government is being rewarded by the Obama administration while Cubans are still jailed and silenced and harboring American fugitives.

He added, "A policy of the United States giving and the Castro brothers freely taking is not in our national interest and not a responsible approach when dealing with repressive rulers that deny freedoms to its people. An already one-sided deal that benefits the Cuban regime is becoming all the more lopsided."

Republican presidential candidate Jeb Bush, who governed Florida -- home to a dense Cuban population -- said it was ironic for Obama to announce the embassy reopening as U.S. Independence Day approaches.

"I oppose the decision to further embrace the Castro regime by opening an embassy in Havana," said Bush. "The real test of the Obama administration's rapprochement with the Castro regime in Cuba is not whether President Obama's legacy is burnished with dubious diplomatic achievements and photo-ops, but whether improved relations between Havana and Washington advance the cause of human rights and freedom for the Cuban people."

Bush called on Congress to "scrutinize" the concessions made to Cuba before considering any U.S. ambassador to the island.

Obama's announcement comes after he wrote his support to remove Cuba from the State Sponsor of Terrorism list following the recommendation of the U.S. Department of State last April. Since Obama announced the U.S. policy changes towards Cuba on Dec. 17, government officials from both countries have met in hopes to renew diplomatic ties and reopen embassies.

Obama did not answer questions if he would visit Cuba or when an ambassador would be named.

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