Iran, Cuba discuss opportunities to enhance bilateral trade

Business Materials 16 May 2022 11:33 (UTC +04:00)
Iran, Cuba discuss opportunities to enhance bilateral trade

TEHRAN, Iran, May 16. Iran and Cuba are keen on exploring new ways for economic cooperation as they seek to promote bilateral trade ties, Trend reports citing the Official Website of Iran's Ministry of Industry, Mine and Trade.

"We have made good progress in areas such as the pharmaceutical, mining, and home appliances industries, which can pave the way for joint activities between the two countries," said Seyyed Reza Fatemi-Amin, Iran’s Minister of Industry, Mine and Trade.

“During the meeting, 34 trade opportunities were drafted for joint economic projects between Iran and Cuba,” the Iranian minister noted.

Fatemi-Amin also put emphasis on strengthening links between the Iranian and Cuban private sectors.

Meanwhile, the Cuban Deputy Prime Minister Ricardo Cabrisas called for facilitating banking relations between Iran and Cuba.

Iran can help Cuba in excavating and production of minerals such as nickel, iron, lead, gold, and Cabrisas underscored.

Ricardo Cabrisas is on an official visit to Iran at the head of a high-ranking delegation to attend Iran-Cuba Joint Economic Commission slated for May 15-17.

Cuban Minister of Energy and Mines, Livan Arronte, and Deputy Ministers of Foreign Trade and Foreign Investment and of the Food Industry, Deborah Rivas and Diorgys Hernandez are among the members of the delegation.

Iranian and Cuban officials are also expected to seal agreements on diverse joint projects including pharmaceuticals, agriculture, customs, food industry, and vaccine production.

Boosting cooperation on trade, investment, transit and transportation, electricity and energy, oil and gas, customs, banking and finance, health and agriculture top the agenda of the 18th Iran-Cuba Joint Economic Commission.

Business-to-business meetings are also scheduled on the sidelines of the 3-day economic event to help boost trade between Iranian and Cuban private companies.