After the lifting of sanction, Croatia is looking to expand its business cooperation with Iran.
Despite the fact that, after the lifting of sanctions, Iran has been visited by a large number of foreign businesspeople and investors from economically strong and powerful countries, the visit by Croatian President Kolinda Grabar-Kitarović next week with a large business delegation led by the Croatian Chamber of Economy is expected to be successful and should result in a stronger economic cooperation between the two countries, Total Croatia News reported on May 11.
About 50 Croatian companies will send their representatives to join the President on the trip.
The international crisis over nuclear facilities in Iran was resolved in July last year and in January this year the sanctions against Iran were lifted.
For Iran, which has large gas reserves and could take over an important role of gas producer, Croatia is located at an extremely important geopolitical location and could become a distributor of Iranian gas to many European countries. Iranians are interested in investing in an LNG terminal, shipbuilding, petrochemical industry and tourism, while Croatian companies want to invest in infrastructure and energy.
In 2008, INA signed an agreement on oil and gas exploration at 17 fields in Iran, but the project was stopped due to sanctions. "Now the company accepted the invitation of the Croatian Chamber of Economy to travel to Iran. It will be joined by representatives of many other businesses," the report said.