Iran signs initial agreement with US General Electric ‎

Business Materials 6 November 2017 17:11 (UTC +04:00)

Baku, Azerbaijan, Nov. 6

By Fatih Karimov – Trend:

Iran’s MAPNA Group has signed an initial agreement with the US multinational conglomerate General Electric, CEO of MAPNA, Abbas Aliabadi, said.

Talks are underway between the two parties to finalize the deal, Aliabadi told reporters in Tehran Nov. 6.

Cooperation between MAPNA, an Iranian enterprise involved in power, oil and infrastructure projects, and ‎ General Electric, will start soon in the fields of power as well as oil and gas, the official said.

Aliabadi further said that the US rules ban cooperation of the companies that are active inside the United States territory, not those which are outside, for instance, in Europe, adding that the mutual cooperation will not face any legal problem.

Earlier in 2016, a spokesperson with General Electric told Trend that the company is looking at business opportunities in Iran, underlining that General Electric is fully complying with the rules laid out by the US government in this regard.

Previously, Iranian oil minister, Bijan Namdar Zanganeh said that the ministry is negotiating with the US company over oil and gas cooperation, referring to the talks as positive.