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EghtesadOnline: Iran and Nicaragua signed a memorandum of understanding in the Iranian capital Tehran on Saturday for joint investments in the fields of oil, agricultural outsourcing and industries.

The signatories were Iran’s Minister of Economic Affairs and Finance Farhad Dejpasand and Nicaragua’s Minister of Finance and Public Credit Ivan Acosta Montalvan, reported. 

“Iran is one of the world’s biggest oil producers with ample capacities in the fields of pharmaceuticals and light industries. Nicaragua, too, is competent in the fields of foodstuff and textile. The two sides can cooperate and complement each other,” Acosta was quoted as saying.

Dejpasand said trade transactions between the two countries are planned to increase tenfold from the current volume within the next two years. However, he neither said how this plan will work out, nor mention the current volume of bilateral commercial exchanges, according to Financial Tribune.


MoU Iran oil Industries Nicaragua Joint Investment agricultural outsourcing