Economy, Domestic Economy
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Italian Textile Machinery Industry Eyes Deals

Italian Textile Machinery Industry Eyes  DealsItalian Textile Machinery Industry Eyes  Deals

Iran has historically been a primary trading partner for Italy’s textile machinery industry.  However, international sanctions blocked the flow of textile machinery exports to Iran. Following the July 14 nuclear agreement, the Association of Italian Textile Machinery Manufacturers says it aims to consolidate its presence in Iran and accompany an Italian trade mission due in Tehran late November, Textile World reported. “Italian textile machinery producers boast consolidated business relations with Iran’s textile manufacturers. In 2014, the flow of imports of textile machinery to Iran resumed, albeit not with the same intensity as prior to the application of international sanctions,” says ACIMIT President Raffaella Carabelli. “Market shares for China and Turkey have increased to the detriment of countries such as Italy, which has complied with the rules set by the international community. Now is the time to return to investing our energies on the Iranian market in order to recover lost time, starting with the business mission in late November,” he added.

Financialtribune.com