Tehran and Havana have agreed to establish a joint shipping line to boost Iran-Latin America trade, Iran's finance minister says.

Iran's talks with Cuban officials have yielded positive results, Massoud Mir-Kazemi said upon his return from the second trade meeting of the Non-Aligned Movement member states in Cuba.

He said contracts had been signed on transport as well as specific industries in which Cuba seeks Iranian investment, he continued.

"Both countries have important business ties. Cuba needs train wagons and other Iranian products, and we are interested in Havana's well-developed biology projects," the minister added.

According to the official, the project is not only aimed at boosting Tehran-Caracas relations, it may contribute to the expansion of trade between Iran and other Latin American nations as well.

"Venezuela intends to purchase Iranian agricultural products and construction materials. So, the deal will also help boost Iran-Venezuela trade relations," he explained.

The second Business Forum of the Non-Aligned Countries Movement was held in Havana on November 1-3.

MJ/AA/BGH