Wednesday, September 28, 2022

Italian PM Arrives in Tehran for Key Economic Talks

The Italian prime minster arrived in Tehran on Tuesday to discuss ways to improve mutual economic cooperation between the two nations.

Heading a 250-strong business delegation, Matteo Renzi landed in the Iranian capital for an official two-day visit at the invitation of Iranian President Hassan Rouhani.

His visit to Tehran is part of efforts to boost bilateral economic cooperation and remove the trade berries in the post-sanctions era.

According to Iranian officials, Iran and Italy are going to sign a new agreement and two memorandums of understanding during Renzi’s visit, while pursuing the implementation of the previous contracts.

Renzi’s visit comes after President Rouhani’s trip to Rome in late January.

Iran and Italy signed deals worth up to 17 billion euros ($18.42 billion) during Rouhani’s 48-hour stay in Italy.

Italy was one of Iran’s leading economic and trade partners before sanctions when annual exchanges amounted to 7 billion euros compared with $1.6 billion euros now.

All nuclear-related sanctions imposed on Iran were lifted after Tehran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) reached a nuclear deal on July 14, 2015 and started implementing it on January 16.

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