Italian companies keep working in Iran

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Italian investment companies remain active in Iran, despite the US’ unilateral sanctions, said the head of Trade Promotion Section of the Italian Embassy in Iran, IRNA reports.

“We have received a great number of requests from the Italian companies to invest in Iran, and the embassy tries to facilitate them,” said Augusto Di Giacinto in a meeting with the chairman of the chamber of commerce and businessmen of Iran’s northern province of Mazandaran.

He stressed that small family-owned businesses constitute over 90% of Italian production and industrial companies that can keep working in Iran during sanctions.

“We have proven our goodwill and will continue to support Iran even in difficult economic conditions,” he added.

He expressed hope that banking transactions for Italian businessmen would be facilitated soon.

He also reiterated that both countries should lever up trade ties with trade capacities.

Some Italian businessmen accompany Di Giacinto in his one-day visit to Mazandaran.

Currently the Iran-Italy trade exchange is roughly $5b and is expected to reach $13b in the next few years due to trade agreements between the two countries.