Iran, Cuba vow to broaden economic cooperation

The Islamic Republic of Iran and Cuba on Friday signed a memorandum of understanding (MoU) on expansion of economic cooperation between the two countries.

The MoU was singed at the end of the 14th Iran-Cuba joint economic commission meeting between Iranian Minister of Industries and Mines Ali Akbar Mehrabian and the Cuban Minister of Road and Transportations Jorge Luis Serra in Havana.

At the meeting, the Iranian minister voiced the readiness of Iran’s private and public sectors to help broaden industrial cooperation between the two countries.

The Cuban minister, for his part, said Iran enjoys advanced Industry and has attained self-sufficiency in many fields playing effective role in promoting industries in other states including the central and Latin American countries.

Based on the MoU, Iran has allocated euro 300 million credit line for establishment and running small and medium industries in Cuba.

Expansion of cooperation between Iran and Cuba would be regarded as an exemplary model for other countries, the Iranian minister said.

End