‘U.S. sanctions present opportunity for Iran, Cuba to expand trade ties’

May 8, 2019 - 19:35

TEHRAN – The U.S. sanctions on Iran could be considered an opportunity for Iran and Cuba to expand economic ties in line with politic cooperation, the Ambassador of Cuba in Iran Alexis Bandrich Vega said on Tuesday.

Meeting with Head of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) Gholam-Hossein Shafei, Vega underlined bolstering trade ties with Iran as the Cuban Embassy’s top priority.

“Iran and Cuba should not limit their relations to embassies…. there are many opportunities for joint investment in various fields like food, medicine, biotechnology, telecommunications, construction, hotels and tourism and etc., which should be given particular attention by the two sides”, he said.

The official further urged Iranian companies to participate in Cuban international exhibitions, including the Havana exhibition, and called for the exchange of information between Iranian and Cuban companies through the two countries’ chambers of commerce for participation in such exhibitions.

He also suggested oil for good mechanisms to be executed by the two sides in order to bypass U.S. sanctions.

Shafei in his turn expressed dissatisfaction with the mismatch between the two countries’ economic relations with the political relations, saying “Mining, food industry, sugar cane, fisheries and aquaculture are among the areas that have great potential for joint cooperation and should not be taken for granted.”

The official also announced ICCIMA’s readiness for exchanging delegations and trade information between Iranian provincial chambers with Cuban counterparts.

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