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General Electric Co. signaled its intent to provide power, aviation and medical equipment to the Cuban government, as the Obama administration's effort to thaw relations with the country continues.

GE and the Cuban government on Monday signed memorandums of understanding that express mutual interest in exploring business opportunities, a GE spokesman said. The memos also "provide that any commercial activity will adhere to U.S. policy and licensing requirements," GE said.

The memos are a preliminary step, and no deals have been struck. GE joins a growing list of U.S. companies looking to do business on the island as President Barack Obama visited with Cuban President Raú l Castro.

The opening of a Cuban market would come at an advantageous time for GE, which has pivoted away from consumers and finance to focus on selling high-tech infrastructure equipment, like its power turbines and jet engines. The company has begun to explore similar deals in Iran, after that country was removed from an international sanctions list.

GE has staked its bets in particular on the power business, completing a $10 billion acquisition of competitor Alstom SA's energy assets last year, its largest acquisition ever.

GE's products include heavy-duty gas turbines for power plants, a significant upgrade in efficiency and environmental output compared with oil-fueled power stations like those in parts of Cuba.

GE medical devices could bolster medical education and improve hospital care in a country that boasts of its exports of doctors to other countries and universal health coverage yet struggles with aging infrastructure.

Write to Ted Mann at ted.mann@wsj.com

(END) Dow Jones Newswires

March 21, 2016 21:55 ET (01:55 GMT)

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