News ID: 153434
Published: 0629 GMT June 18, 2016

Italian investors eager to expand economic, trade ties with Iran

Italian investors eager to expand economic, trade ties with Iran

A group of Italian bankers, investors and entrepreneurs voiced their willingness to broaden cooperation with Iran in economic and trade fields.

The offer was made at a conference themed Joint Trade and Investment Ventures between Iran and Italy's Emilia-Romagna region in the city of Bologna on Friday which was attended by 200 Italian investors and businessmen, reported IRNA.

Iranian Ambassador to Italy Jahanbakhsh Mozafari also took part in the conference.

At the gathering, Director of International Affairs of Emilia Romagna Industrial Committee Gino Cocchi underlined the importance of enhancing ties with Iran.

He predicted that Italy's exports to Iran will reach €3 billion in the next four years.

Meantime, Vice President of Emilia-Romagna Bank Pierre Peju pointed to the banking problems faced by Iran, and said, "Everybody should be patient; we are optimistic about the future."

Mozafari said that despite all the problems, the Joint Comprehensive Plan of Action (JCPOA) is being implemented and following the nuclear deal, all the obstacles to Tehran establishing ties with the world and especially the West, have been removed.

In mid-April, Iran and Italy signed 12 contracts to cooperate in trade and economic sectors.

Chairman of Iran-Italy Chamber of Commerce, Industry and Mines Ahmad Pourfallah said the agreements were signed in a ceremony attended by Italian Prime Minister Matteo Renzi and Iranian Minister of Industry, Mine and Trade, Mohammadreza Nematzadeh.

He said negotiations are also underway between Iranian and Italian trade delegations on further cooperation in economy, trade and banking.

According to the official, the discussions include cooperation in oil, gas, electricity, power plant, steel, textile, fashion, car, infrastructure, urban planning and architecture, telecommunication, railway, airport construction, shipping, refinery, and petrochemicals.

He said the Italian economic delegation representing 70 economic firms is the ninth delegation to travel to Iran after the nuclear deal and the lifting of sanctions.

Also in mid-May, Iranian President Hassan Rouhani had reiterated the need for the timely and precise implementation of the nuclear agreement by the world powers.

"The nuclear agreement between Iran and the P5+1 (the US, Russia, Britain, France and China plus Germany) was a success for all countries which believe that talks is the solution to the international problems and we should well protect the achievements of this agreement so that all people opt for the path of talks as a role model to settle the problems in the world," Rouhani said in an address to high-raking Iranian and Italian delegations in Tehran in which Italian Prime Minister Matteo Renzi was also present.

He underscored the importance of precise and timely implementation of all undertakings by the other side in the nuclear agreement with Iran.

President Rouhani also appreciated Italy for its goodwill and support during the Iran-P5+1 talks.

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