First Iranian company sets foot in Cuba
- Submitted by: admin
- Business and Economy
- 06 / 20 / 2010
HAVANA, Cuba's Irrigation systems maker Tad.Co has become the first Iranian company to open an office in Cuba, the weekly Opciones said Saturday, amid signs of closer ties between the two countries.
"The office opening is not the goal, but just a new step" in improving Iran-Cuba relations, said Iranian Ambassador Mostafa Alaei at Tad.Co's inaugural ceremony.
The Iranian company has already been doing business with Cuba for seven years, selling it more than 3,000 irrigation systems, Opciones reported.
The Cuban-Iranian alliance is growing closer. Last year, they formed a joint venture to produce refrigerators and other small appliances for the Cuban market, in addition to parts for the railroad industry. Cuba got a $680-million credit in the deal.
During a visit here in April by Iran's Deputy Foreign Minister Seyed Amir Mansoor Berghei, the two governments agreed to boost cooperation in biotechnology, agriculture, and transportation.
Trade between the two nations grew from $22 million in 2007 to $46 million in 2008, but dropped off with the global recession last year to $27 million.
"The office opening is not the goal, but just a new step" in improving Iran-Cuba relations, said Iranian Ambassador Mostafa Alaei at Tad.Co's inaugural ceremony.
The Iranian company has already been doing business with Cuba for seven years, selling it more than 3,000 irrigation systems, Opciones reported.
The Cuban-Iranian alliance is growing closer. Last year, they formed a joint venture to produce refrigerators and other small appliances for the Cuban market, in addition to parts for the railroad industry. Cuba got a $680-million credit in the deal.
During a visit here in April by Iran's Deputy Foreign Minister Seyed Amir Mansoor Berghei, the two governments agreed to boost cooperation in biotechnology, agriculture, and transportation.
Trade between the two nations grew from $22 million in 2007 to $46 million in 2008, but dropped off with the global recession last year to $27 million.
Source: Agence France-Presse
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