Ground prepared for activity of Italian oil and gas firms in Iran

Business Materials 28 September 2015 16:23 (UTC +04:00)

Baku, Azerbaijan, Sept. 28

By Fatih Karimov - Trend: Ground is prepared for the activity of Italian oil and gas firms in Iran, said Iranian President Hassan Rouhani.

He made the remarks in a meeting with Italian Prime Minister Matteo Renzi on the sidelines of the United Nations Sustainable Development Summit 2015 in New York, Shana news agency reported Sept. 28.

The unjust sanctions against Iran really hurt economic relations between Iran and the EU, particularly with Italy, Rouhani said.

Considering that Italian companies have contributed to the implementation of oil, gas, and industrial project in Iran, the way is paved for their activity in Iran after the sanctions are removes, the president noted.

"Of course, our priority for cooperation with Italian companies in the post-sanctions time is the transfer of technology and also making investment for joint production of products for domestic and export purposes."

Renzi, for his part, announced that Italy would dispatch a large trade delegation to Iran in the near future. "Italian companies are willing to enter Iran's market as soon as possible," he said.

"I will urge them to cooperate with Iranian companies for having a stronger presence in the global markets".

Italian Minister of Economic Development Federica Guidi said in August that Italy will try to increase its volume of trade with Iran back up to €7 billion.

Meanwhile, Italian Foreign Minister Paolo Gentiloni has said that his country is in talks with Iran to boost mutual economic ties.

The talks will lead to the transfer of technology and capital to Iran and the expansion of its communication and road networks, as well as its oil and gas industries, Gentiloni said.

Iran-Italy's trade turnover is about $1.5 billion right now.

Edited by CN