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Iran, Cuba sign banking
agreement
IranMania.com,
Monday, February 20, 2006.
LONDON, February 20 (IranMania) - Iran
Export Development Bank and Cuba Foreign
Bank signed an agreement to facilitate export
of Iranian goods as well as engineering
and technical services to Cuba, IRNA reported.
The Majlis press and news affairs department
reported that the two countries' speakers
of parliaments were present in the signing
ceremonies.
The agreement stipulates for the Iranian
bank to allocate up to a $90 mln ceiling
for credit facilities.
It is estimated that Tehran-Havana trade
will top $50 mln this year. Iran has a positive
trade balance with Cuba.
The Cuban officials present in the meeting
also expressed satisfaction with the growing
trade and investment relations between the
two nations.
They also expressed support for Iran's
right to use peaceful nuclear energy. The
Cuban officials said Havana is interested
in expansion of relations with Tehran in
all areas.
Iran and Cuba signed a comprehensive document
for bolstering of bilateral cooperation
in Havana In January.
According to the document, Iran and Cuba
would expand cooperation in various commercial,
banking, agriculture, health and cultural
fields.
The two sides also said they will expand
cooperation in the areas of sugar industry,
fishery, biotechnology, sports, transportation,
development projects, investment, tourism,
information technology and communications
and water resources.
The document stipulates for the two countries
to provide more facilities in banking cooperation
with an aim of preparing the grounds for
promotion of economic and trade ties and
making use of mutual scientific, research
and industrial capabilities.
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