After the nuclear deal between Iran and the world powers, many EU countries immediately sought to deepen their economic ties with the Middle East country.

Yesterday, Italian Industry Minister Federica Guidi said that Italy aims to enter into joint ventures in Iran. According to Italian news agency ANSA, Guidi said: “We will…propose our technology but also our mindset for a long-term collaboration, creating joint ventures with on-site production facilities.”

Italy and Iran once had trade volume of seven billion euros, Guidi told reporters at a joint press conference with her Iranian counterpart, Razeh Nematzadeh. “We must renew the industrial and economic collaboration that has always bound Italy and Iran in friendship,” Guidi stressed. ANSA reported that Italy is interested into deepening cooperation with Iran, at energy, aeronautics, shipping, construction, jewelry, leather and food.

The Italian Industry Minister announced the first economic cooperation between the two countries, as Italian company FATA SpA, which belongs to Finmeccanica, signed a 500-million-euro contract to build a combined cycle electrical power plant in the oil-rich country.

The deepening of the economic cooperation between Italy and Iran will be further deepened with the establishment of a bilateral commission on economic issues, holding annual meetings between the foreign ministries.

On 4 August,Italian Foreign Minister Paolo Gentiloniarrived inTehran and announced the intention of the two countries to establish the Economic Commission.

“The opportunities forexpansion ofcooperation aimed atstability inthe region are opening up [in Iran], aswell asopportunities fordoing business,” Gentiloni said, asquoted bythe askanews agency.

Before, the visit of the Italian Foreign Minister in Tehran, French Foreign Minister Laurent Fabius and German Economy Minister Sigmar Gabriel, also also visited Iran in different dates, to explore business opportunities for their countries.

http://www.neurope.eu/article/italy-and-iran-deepen-economic-cooperation/