Economy, Domestic Economy

Italy Eager to Be Iran’s Leading EU Partner

Italy Eager to Be Iran’s Leading EU PartnerItaly Eager to Be Iran’s Leading EU Partner

Italy intends to become Iran’s first European partner and play a leading role in the new phase of relations between the two countries, said Cosimo Ferri, Italy's Undersecretary to Justice, in his official address on the occasion of Iran National Day at the Expo Milano 2015 on August 23.

"Although the last few years have not been the easiest, the present climate offers the possibility of resuming the relations between our two nations, which have long been bound by enduring and sincere friendship," quoted him as saying.

Ferri said now the ground is prepared for the two counties to reinforce their collaboration in order to achieve mutual social, economic and cultural growth.        

Italy is willing to turn into Iran’s gateway to Europe and regain its pre-sanctions stature as Iran’s leading commercial partner by increasing exports from the €1.1 billion in 2014 to €7 billion bilateral trade recorded before the sanctions. The sectors that Italy is most focused on are “infrastructure, transport, tourism, mechanical engineering and the agro-food sector,” Ferri noted.

The expo represents an exceptional opportunity to re-launch and strengthen historical relations between the two nations,” said Iran’s Minister of Industries, Mining and Trade Mohammadreza Nematzadeh, attending the Iran National Day ceremony at the Milan expo.

“There is no limit to foreign investment in Iran and international entities can enjoy up to 100% share and land ownership, he added.

The Iranian minister invited Iranian and foreigners who are willing to invest in Iran, particularly in tourism, industry, mining, trade, infrastructure and energy sectors, to visit and explore the condition of investment in Iran first-hand, IRNA reported.

Expo Milano 2015 is an ongoing Universal Exposition hosted by Italy, under the theme of ‘Feeding the Planet, Energy for Life’. The exhibition is currently half-way into its six-month, May-October lifespan.

Iran has a strong presence as a member of expo Milano’s steering committee and with its pavilion set in a 1,950 square meter venue.

Iran’s pavilion has received an average of 15,000 visitors per day since the expo began, according to deputy minister of industries, mining and trade Hossein Esfahbodi Esfahbodi. “It could well be selected among the top ten pavilions in the expo,” he added.