Domestic Economy

Italian Businesses, Nematzadeh Discuss Emerging Opportunities

Italian Businesses, Nematzadeh Discuss Emerging OpportunitiesItalian Businesses, Nematzadeh Discuss Emerging Opportunities

The launch on Friday of Expo Milano 2015– a world fair that is expected to draw 20 million people to Milan over the next six months –has provided a suitable opportunity for Iranian and Italian business owners to interact on a new level to seek avenues for economic cooperation.

Expo Milano 2015 is a global platform for the exchange of ideas and shared solutions among more than 140 participating countries on the central theme of ‘Feeding the Planet, Energy for Life’.

Minister of industry, mine and trade, Mohammadreza Nematzadeh traveled to Milan on Friday to inaugurate Iran’s pavilion, which has been set in a 1,950 square meter venue around the central theme of the Persian dining spread, known as Sofreh.

In a meeting with the industry minister held at Iran’s consulate in Milan on Friday, a group of Italian industrialists and business owners expressed eagerness to expand business cooperation with Iran.

“The Italian companies are hopeful to resume their economic cooperation with Iran after the sanctions [imposed against Iran by the West over its nuclear program] are lifted, which we welcome,” IRNA quoted Nematzadeh as saying in the meeting.

Rosario Alessandro, the chairman of Iran-Italy joint chamber of commerce, underlined the importance of Iran’s market for Italian businesses, saying: “Ignoring Iran’s vast and strategic market is no longer possible and we hope that Italy will, once again, turn into Iran’s leading partner in Europe.”  

Italy was Iran’s the top trading partner in the European Union in early 2006. But business relations were hurt in recent years due mostly to the sanctions, which made business dealings and banking transactions difficult.

The value of Iran’s exports to Italy stood at $618 billion in the past Iranian calendar year (ended March 20). The exports mainly included raw and tanned animal skin, iron, steel, marble, granite, aluminum products, saffron, pistachio, dates and tea.

Iran’s imports from Italy totaled $723 billion during the period, comprised mainly of print machinery and ink, pharmaceutical and cosmetic products, elevator equipments, centrifugal pumps and tractors among others.

  Iranian Trade Delegation

An Iranian trade delegation headed by Iran Chamber of Commerce, Industries and Mines is scheduled to visit Milan this month to engage in business negotiations with Italian companies on the sidelines of the Milan exhibition, according to vice chairman of Iran-Italy Chamber of Commerce and Industry, Mohamamd-Mehdi Ra’eeszadeh.

Ra’eeszadeh also expressed optimism that participation of Iranian industries in the International Exhibition of Textile Machinery, which is scheduled to be held in Milan in November, will provide a suitable platform for export of Iranian textile products and technology, Eghtesadnews reported.

The Iran-Italy Chamber of Commerce and Industry, established in 1999, is the only official organization recognized by the Italian government and aimed at enhancing economic and trade relations between the two sides.

  Environment Cooperation Plan

Meanwhile, the ECO Institute of Environmental Science and Technology (ECO-IEST) and the Italian National Institute for Environmental Protection and Research (ISPRA) signed a memorandum of understanding (MoU) at the ECO Secretariat in Tehran on Monday April 27.

The MoU was signed in line with a two-year Cooperation Action Plan between Iran’s Department of Environment and Italian Ministry of Environment and Protection of Land and Sea in Tehran on April 26 for sharing experience in climate change, protecting the marine environment, air pollution, soil pollution and greenhouse gases.