TEHRAN (IRNA) -- Agricultural Jihad Minister Mahmoud Hojjati said here Sunday that the Ninth Tehran-Havana Economic Cooperation Commission meeting is scheduled to present a helpful strategy for optimal use of a credit of $20 million Iran has extended to Cuba to develop its agriculture sector.

Hojjati told the inaugural session of the meeting that less than two million dollars out of the $20 million credit has however been spent thus far.

The minister hoped that the current meeting would offer a clear response to Iran's proposal for bio-technological cooperation with Cuba in the field of agriculture.

He said that an agreement for cooperation in the fields of seeds and sugar cane is in the implementation stage.

He added that the ongoing meeting is also expected to decide on three technical cooperation contracts, of which the provisions relating to the costs were violated by the Cuban side.

Hojjati said Iranian Commerce Ministry is pursuing the case of organizing Iran's exhibition in Cuba.

He hoped that the current meeting would specify ways and means for mutual economic cooperation.

Meanwhile, Hojjati told reporters on sidelines of the meeting that Cuba is ready to provide Iran with the technology for production of hepatitis vaccines.

He said Iran's hepatitis vaccine production unit is to go on tentative operation next year.

He added that Cuba is ready to produce vaccines in Iran and that an agreement for maritime transportation cooperation would be signed at the Ninth Tehran-Havana Economic Commission meeting.

For his part, Cuban Minister without portfolio Ricardo Cabrisas Ruiz told reporters that his country intends to review and amend contracts signed earlier and remove possible problems.

He said proper conditions exist for cooperation in electronics and maritime transportation.

Iran and Cuba are to sign a memorandum of understanding and exchange protocols for cooperation in shipping and fisheries as well as guaranteeing mutual investment in the three-day meeting.