Iran, Nicaragua Strike Trade Deal

A01113071.jpgIran and Nicaragua struck a trade deal which calls for Iran to improve Nicaragua’s infrastructure by constructing a port, houses and industrial sites in exchange for farm products like coffee, meat and bananas. Government spokeswoman Rosario Murillo, disclosed details of the agreement. Iran has agreed to build a farm equipment assembly plant, four hydroelectric plants, five milk-processing plants, a health clinic, 10,000 houses and two piers in the western port of Corinto.

Ties between the two countries have further improved since Daniel Ortega took office as Nicaraguan President and Iranian President Mahmoud Ahmadinejad visited Managua last January.

Nicaragua holds fragile relations with the US, while Iran is deemed as the arch foe of the Big Satan (i.e. the Untied States).

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