Iran and Cuba’s Chambers of Commerce Sign Cooperation Agreement

TEHRAN (Iran News) The agreement — titled the Joint Action Plan — was signed by Samad Hassanzadeh, President of the Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA), and Antonio Carricarte Corona, President of the Cuban Chamber of Commerce (CCRC), and will take effect in 2026.

Under the terms of the agreement, the two chambers have prioritized cooperation in health, biotechnology, pharmaceuticals, agriculture and food industries, sugar, transportation, petrochemicals, health tourism, and any other sectors identified by mutual agreement.

To ensure follow-up on commitments and improve coordination, the two sides agreed to hold structured virtual meetings to review the outcomes of the Iran–Cuba Business Forum at FIHAV 2025 and oversee the implementation of both the Memorandum of Understanding and the new action plan.

The agreement also calls for organizing virtual B2B meetings between companies operating in these priority sectors.

Other key areas of cooperation include joint participation in trade fairs and events — such as Iran Expo and the Havana International Fair — as well as the exchange and promotion of business opportunities.

Based on the agreement, both sides will compile, update, and exchange lists of exportable goods and services, as well as their respective annual foreign investment opportunities, which will then be promoted among economic actors in each country.

The chambers also pledged to facilitate trade and support exhibitors and importers. The Iranian side expressed readiness to invite and assist Cuban importing companies in attending major Iranian exhibitions, particularly in energy, transportation, agri-food, machinery, metallurgy, and agricultural equipment. Both parties also signaled willingness to allocate exhibition space to one another whenever feasible.

Meanwhile Hassanzadeh has emphasized the need to draft a comprehensive roadmap for expanding economic cooperation between Iran and Cuba, centered on strengthening the roles of both countries’ embassies and chambers of commerce.

During the Havana International Fair (FIHAV) and an accompanying Iranian trade mission to Cuba, ICCIMA President Hassanzadeh met with Oscar Pérez Oliva Fraga, Cuba’s Minister of Foreign Trade and Investment. Hassanzadeh noted that despite close political relations and longstanding friendship between the two nations, economic ties have yet to achieve meaningful progress.

He expressed hope that a clear roadmap — anchored in more active engagement by the chambers of commerce and greater involvement of the Iranian and Cuban ambassadors in economic diplomacy — would pave the way for advancing bilateral trade. Continued dialogue and consistent follow-up on agreements, he said, could significantly strengthen commercial ties.

Hassanzadeh highlighted Iran’s proposal, raised during meetings with Cuban officials and the Cuban Chamber of Commerce, regarding revitalizing the sugarcane industry and rebuilding sugar production plants with investment from the Iranian private sector. He added that Iran is prepared to send experts to Havana to cooperate in constructing power and energy stations as well as supporting refinery projects.

He also pointed to Iran’s scientific, technical, and production capabilities in the medical and pharmaceutical fields, saying Cuba’s strong achievements in vaccine development could be further enhanced through partnership with Iran.

The ICCIMA president noted that discussions with the head of the Cuban Chamber of Commerce focused on strengthening continuous cooperation between the two chambers. He requested that Cuba provide a list of its priority projects so Iranian companies could initiate direct negotiations with their Cuban counterparts.

At the conclusion of the meeting, Hassanzadeh officially invited a high-level Cuban economic and trade delegation — led by the Minister of Foreign Trade and Investment and including the president of the Cuban Chamber of Commerce — to visit Iran.

Cuban Minister Pérez Oliva Fraga welcomed the invitation, saying the visit would be particularly significant as U.S. sanctions against Cuba intensify. The presence of the Iranian trade delegation in Havana, he noted, demonstrates Iran’s strong commitment to expanding bilateral cooperation.

The minister stressed that Cuba and Iran must jointly develop an optimal framework for expanding trade relations — one that satisfies both sides. He affirmed that Cuba is fully open to Iranian businesses and that Cuban authorities stand ready to provide full support.

Pérez Oliva Fraga also announced Cuba’s readiness to facilitate the establishment of a reputable Iranian company in the Cuban market to directly promote and market Iranian products. He emphasized that the Cuban government, especially the Ministry of Foreign Trade, would work to minimize investment risks for Iranian companies.

He added that Cuba is prepared to launch an initial joint sugarcane agro-industrial project with Iranian investors, involving the construction of a sugar factory and the cultivation of sugarcane on surrounding lands. The project could be pursued either as a joint venture or through direct investment from Iranian firms.