Economy, Business And Markets

“Interesting Opportunity” for Italian Firms

“Interesting Opportunity” for Italian Firms“Interesting Opportunity” for Italian Firms

SACE, the Italian export guarantee agency, is accompanying the Italian delegation to Iran from 8 to 10 February.  It is providing various services for Italian companies interested in Iranian markets, ranging from the classic credit insurance instruments to more innovative financial instruments for those who decide to invest directly in the country.

“Thanks to the advisory services, businesses will share information and experience gained from SACE during the long years of relations with the country,” the company announced in a statement on Monday, Italy’s AGI reported.

“The lifting of the sanctions against Iran [on January 16], could lead to an increase in Italian exports to the country up to almost €3 billion by 2018, with  interesting opportunity for Italian companies in various sectors, including oil and gas, petrochemicals, automotive and construction.”

The Iranian government aims to attract between $30-$50 billion foreign investments annually to achieve its plans for macroeconomic growth, SACE said.

During President Hassan Rouhani’s visit to Italy late last month, SACE and Central Bank of Iran signed an agreement for reviving the sovereign credit of Iran. SACE also agreed to pay €564 million (in three installments by October 15) for the claims paid in previous years  by Italian companies, and the loans not paid by Iranian counterparts following the blocking of the payment systems due to the international sanctions.