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First Iranian company sets foot in Cuba
Asia one
23-Jun-2010

HAVANA, CUBA – 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 adversaries of the United States.

“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 US$22 million ($30.5 million) in 2007 to US$46 million in 2008, but dropped off with the global recession last year to US$27 million.

Cuba supports Iran’s controversial nuclear energy program.

http://www.iranian.com/main/news/2010/06/23/first-iranian-company-sets-foot-cuba

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