News ID: 123178
Published: 0645 GMT July 24, 2015

Iran, EU hold trade conference

Iran, EU hold trade conference

Iran and the EU held a two-day conference in Vienna to boost their cooperation on trade and investment, following the historic nuclear deal between Iran and P5+1.

Minister of Industries, Mines and Trade Mohammad Reza Nematzadeh led the Iranian delegation at the conference to discuss opportunities for cooperation with officials from Austria, France, Germany, UK and other countries, Press TV reported.

"We are looking for a two-way trade as well as cooperation in development, design and engineering. We are no longer interested in a unidirectional importation of goods and machinery from Europe,” he told the conference.

After the finalization of nuclear talks, European leaders and representatives of major industries are in a race to size up business opportunities in the energy-rich Iran.

Deputy Economy Minister Mohammad Khazaei told the conference that the Iranian government had already granted license for more than $2 billion of projects with the Europeans.

"We are recently witnessing the return of European investors to the country. Some of these negotiations have concluded and we have approved and granted them the foreign investment licenses and protections," he said.

Nematzadeh said oil and gas, metals and car industries were the industries in focus.

By 2025, Iran aims to produce three million vehicles through joint ventures with auto parts manufacturers, with onemillion units intended for exports including to Europe, Nematzadeh said.

On Sunday, German Economy and Energy Minister Sigmar Gabriel led a delegation of state officials and representatives of the country’s biggest companies on a three-day visit to Iran.

French Foreign Minister Laurent Fabius will also visit Tehran on July 29 with the aim to revive relations. France's main business lobby group, the Medef, is sending a delegation of about 80 firms to Iran at the end of September.

Meanwhile, Italian Economic Development Minister Federica Guidi will head a team of 300 traders on a two-day visit to Iran on August 4.

Switzerland's Deputy Foreign Minister Yves Rossier arrived in Iran on Tuesday and held discussions with several Iranian officials.

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