Official: Major French companies interested in Iran’ market return

Business Materials 6 November 2013 12:02 (UTC +04:00)

Baku, Azerbaijan, Nov. 6

By Fatih Karimov - Trend: Major French companies are interested in returning to Iransaid Thierry de Montbrial, president of the French Institute of International RelationsNov 6. De Montbrial, who was cited by IRNA, made the remarks on the sidelines of a meeting between a group of French political and economic figures as well as directors of large French companies with Iranian Foreign Minister Mohammad Javad Zarif in Paris on Tuesday.

Referring to the Western-led sanctions which have been imposed on the Iranian economy, he said that the sanctions should be lifted as soon as possible.

French giant carmaker, PSA Peugeot Citroen, has posted the largest annual revenue loss in its history, partly caused by the West's sanctions against Iran, Press TV reported in March.

Iran was the French car maker's second-biggest market in 2011 in terms of trade volume.

In February 2012, PSA Peugeot Citroen stopped its trade with Iran after the enforcement of US-led financial sanctions against the Islamic Republic for its nuclear energy program.

The French car making group also halted its exports of vehicles to Iran, which accounted for around 13 percent of the firm's global deliveries in 2011.