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Iran signs first post sanctions economic MOU with Italy

Business Materials 5 August 2015 11:47 (UTC +04:00)

Baku, Azerbaijan, Aug. 5

By Fatih Karimov - Trend: Iran signed its first economic memorandum of understanding with a European country after the nuclear agreement.

The deal was signed in Tehran between the Trade Promotion Organization of Iran and the Italian Institute for Foreign Trade, after a meeting between Iranian Industry Minister Mohammad Reza Nematzadeh and Italian Economic Development Minister Federica Guidi, Iran's Tasnim news agency reported August 5.

The MOU envisages exchanging of commercial and trade information, as well as sending commercial and educational delegations.

On the sidelines of the meeting, Guidi said Italy wants to revive relations with Iran.

Guidi, accompanied by Italian Foreign Minister Paolo Gentiloni, leads a delegation of traders and businessmen to Iran.

Italy was the 9th leading importer of Iranian non-oil goods during the first quarter of the current Iranian year (March 21-June 21), according to the Iran Customs Administration.

Iran exported $124.605 million of non-oil goods to Italy and imported $205.856 million of non-oil goods from the country during the three-month period.

Edited by CN

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