Deputy Head of Iran’s Chamber of Commerce Mr. Hossein Salahvarzi and some Iranian business activists hosted the forum where Cuban Ambassador to Tehran Mr. Alexis Bandrich Vega was present.

IRAN NEWS ECONOMIC DESK

During the forum, Mr. Salahvarzi pointed to the primary agreement with Cuba with taking into consideration the preferential tariff on 88 items of Iranian goods, adding that unfortunately Iranian private sector has been unable to take advantage of those exemptions.

He added that Cuba is a good market for producing vaccines, medicines and food industries, adding that Iranian companies in complementary industries have valuable experiences and they can both be active in those sectors or have good investment.

Salahvarzi reiterated that there are significant potentials for bilateral economic cooperation, admitting that transit and banking problems are the most serious hurdles in way of boosting trade exchanges and both sides should find proper ways to tackle those problems.

He reiterated that now it is the best time for boosting trade with Cuba as well as investment in that country.

He added that exchange of information could help businessmen of both countries for cooperation and it is necessary.

Salahvarzi added that Iranian contractors have good reputation and credit in the international tenders, admitting that of course it needs Iranian banks’ guarantees.

Cuban Ambassador Mr. Vega, for his part, said that the main goal behind the forum was introduction of opportunities for investments and familiarity with capabilities of both countries.

Vega added that Iran and Cuba have always been facing types of sanctions and they have done their best to confront with those pressures.

He said that about 20 documents have been signed between Iran and Cuba, adding that the process for implementation of those agreements is not satisfactory. He then pointed to Cuba’s problems which the country has been challenging with them in the past ten years, adding that Cuba is trying to overcome the problems and it sets  its relations with an eye to the future. He noted that the current framework for short term trade is not sustainable and consequently, both countries should devise mid-term or long term financial sources in order to implement their undertakings properly.

Vega added that Iran can play a key role in Cuba’s economic and political development, noting that Cuba welcomes arrival of Iranian investors to its market.

The Cuban diplomat reiterated that Cuba’s new Constitution is after strengthening transparency and institutionalizing the role of the government and dynamic economy as well as recognizing the role of market and new forms of ownership.

He pointed to tourism and energy as two major fields that Cuba should grow in, adding that Cuba hosted over 4.7m tourists in 2018 and the figure showed 1.3 percent growth comparing to 2017.

He underlined that Cuba has set target to boost it to 1.5 percent growth. Vega concluded that Cuba will hold an exhibition on November 4-8 and officially invited Iranian companies to attend.